e-Payment Solutions Market in India 2014 report finds that with India being termed as a cash-based economy and aided by the recent focus by government on digital payments, strong growth is expected by the e-payment solutions market in the country. Substantial number of customers is seen getting registered for internet banking facility and there has been a considerable increase in the usage reflected in funds transfer through National Electronic Fund Transfer (NEFT) and Real Time Gross Settlement (RTGS). In a similar context, mobile payment solutions, a subset of e-payment solutions, is also witnessing profound growth and is poised to grow in future. However, contradictions still loom large riding on the fact that e-payment solution has not quite taken off as the preferred mode of transaction completely.
Publisher latest market research report titled e-Payment Solutions Market in India 2014 states that payments through credit and debit cards have risen due to rising consumer awareness and internet penetration. Additionally, the Reserve bank of India has also been playing a catalytic role through policy and other regulatory framework to foster greater adoption of such payment solutions. Though driving factors such as growth in e-commerce, increasing internet penetration, adoption of mobile devices, cost saving factor compared to printing notes, ease of transaction and soaring use by government have facilitated growth of the sector, challenges like security issues and lack of awareness and low service quality have implemented a steady growth of the same.
Spanning over 87 pages, “e-Payment Solutions Market in India 2014” report covering the Executive Summary, Introduction, Market Overview, Drivers & Challenges, Trends, Government Regulations, Competitive Landscape, Market Opportunity, Strategic Recommendations, Appendix. The report covered companies are – Atom Technologies Ltd., Avenues (India) Pvt. Ltd., E-Billing Solutions Pvt. Ltd., ICICI Merchant Services Pvt. Ltd, IndiaPay, TimesofMoney Ltd., Transecute Solutions Pvt. Ltd., PayPal India Pvt. Ltd.
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