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The India mobile payment market was valued at US$ 414.0 Billion in 2021.
We expect the India mobile payment market to exhibit a CAGR of 26.19% during 2022-2027.
The growing consumer awareness towards hassle-free transactions, secured payment gateways, and
easy mobility offered by mobile payment solutions, is primarily driving the India mobile payment
In India, the sudden outbreak of the COVID-19 pandemic has led to the rising consumer inclination from
conventional cash-based transaction methods towards digital payment solutions for mitigating the risk
of disease transmission upon human interaction.
Based on the mode of transaction, the India mobile payment market has been segmented into WAP,
NFC, SMS, USSD, and others. Currently, WAP payment mode holds the majority of the total market
Based on the application, the India mobile payment market can be divided into entertainment, energy
and utilities, healthcare, retail, hospitality and transportation, and others. Among these, the retail
industry exhibits a clear dominance in the market.
On a regional level, the market has been classified into North India, West and Central India, South India,
and East India, where North India currently dominates the India mobile payment market.
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