Digital Payments in India is expected to become $400 billion market by 2021

HYDERABAD, India - March 30, 2019 - PRLog -- Major trends and area of opportunity:

1.   Indian ATM Services market is sluggish; However, FY2019 is likely to demand over 100,000 ATM Machines, which will revive the ATM Managed Services Market

2.      Indian Mobile Banking penetration is growing and the Private Banks are entering in partnerships with tech vendors

3.      Internet Banking penetration is growing at a higher rate, mainly due to the push from regulatory, and the market is expected to open a window of opportunity for B2B financial settlement services

4.      POS transactions are growing at a double-digit rate and the market is expected to witness innovative wireless POS technologies

5.      Indian Mobile Wallet users base is expected to reach 100 million by 2020 and the market is expected to witness more cross border wallet providers in the next three years

6.      UPI is creating a strong digital payments ecosystem in India and it is expected to increase the market competitiveness

7.      Indian Pre-paid cards market is surging, and it is highlighting opportunities for more innovative business models

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