Market Overview
With exponential growth, the eCommerce market in India is forecasted to reach US$350 billion by 2030*. * Source: Statista, 2023
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Population: 1.5B *
India is culturally diverse with untapped opportunity.
* Source: Woldometers, 2022
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eCommerce: 74.8B *
Recently, India has become the eighth-largest eCommerce market globally*.
* Source: IBEF, 2022
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Internet users: 61% *
The internet penetration rate in India has grown rapidly, increasing from just about four percent in 2007 to over half of the population*.
* Source: IndiaTimes, 2022 & Statista, 2023
Gain insight into India's most relevant payment methods
- 45% eWallets
- 28% Cards
- 12% Bank Transfer
- 9% Cash
- 6% Other
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Credit and debit cards
Play like a local by offering traditional payment methods.
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Wallets
Tackle all audiences.
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Online bank transfers
Count on a wide variety of options to drive conversion.
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Unified payment service (UPI)
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Pay later
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Latest about India
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What to know about the new regulations on recurring payments in India
A new regulation on recurring payments in India defeated almost any SaaS business – local or domestic. The Reserve Bank of India implemented new rules for recurring online transactions, making Additional Factor Authentication mandatory for recurring payments.
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Download the country guide for your business to flourish in India
See more about the fastest-growing payment methods in India: UPI







































