Report on India Mobile Wallet Market Forecast and Opportunities, 2020
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- Date Submitted: 10/15/2015 12:12 AM
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15th Oct 2015, – Navi Mumbai, India: Market reports on India presents the latest report on “Report on India Mobile Wallet Market Forecast and Opportunities, 2020”. These applications are being predominantly used by mobile wallet users based in Tier-I cities such as Delhi, Mumbai, Bengaluru and Chennai.
Mobile wallet is a digital wallet that allows users to make payments through smartphones, tablets, phablets, etc., from any location at any time. http://www.marketreportsonindia.com/technology-media-market-research-reports-13028/india-mobile-wallet-forecast-opportunities.html Mobile wallet market in India is surging on account of growing online transactions, rising trend towards mobile banking, and ease of usage of mobile wallet applications. In 2014-15, major application areas that drove the countrys mobile wallet market included money transfer, mobile recharge and bill payments, utility applications. These applications are being predominantly used by mobile wallet users based in Tier-I cities such as Delhi, Mumbai, Bengaluru and Chennai. In August 2015, Reserve Bank of India approved payment bank licenses of 11 companies including Vodafone, Airtel, Paytm, etc. Consequently, the mobile wallet market in India is forecast to become highly competitive over the course of next five years. Transportation is an emerging sector in terms of using mobile wallet usage in India. Radio taxi companies such as Uber are entering into partnerships with mobile wallet companies such as Paytm to allow customers make payments through mobile wallet applications.
According to India Mobile Wallet Market Forecast & Opportunities, 2020, the mobile wallet market in India is forecast to reach US$ 6.6 billion by 2020. Growing awareness regarding the benefits of mobile wallets, rising smartphone and mobile internet penetration rates, and increasing security measures are expected to drive growth in India mobile wallet market. In 2014, Tier-I cities such as Delhi, Mumbai, Kolkata,...
Mobile wallet is a digital wallet that allows users to make payments through smartphones, tablets, phablets, etc., from any location at any time. http://www.marketreportsonindia.com/technology-media-market-research-reports-13028/india-mobile-wallet-forecast-opportunities.html Mobile wallet market in India is surging on account of growing online transactions, rising trend towards mobile banking, and ease of usage of mobile wallet applications. In 2014-15, major application areas that drove the countrys mobile wallet market included money transfer, mobile recharge and bill payments, utility applications. These applications are being predominantly used by mobile wallet users based in Tier-I cities such as Delhi, Mumbai, Bengaluru and Chennai. In August 2015, Reserve Bank of India approved payment bank licenses of 11 companies including Vodafone, Airtel, Paytm, etc. Consequently, the mobile wallet market in India is forecast to become highly competitive over the course of next five years. Transportation is an emerging sector in terms of using mobile wallet usage in India. Radio taxi companies such as Uber are entering into partnerships with mobile wallet companies such as Paytm to allow customers make payments through mobile wallet applications.
According to India Mobile Wallet Market Forecast & Opportunities, 2020, the mobile wallet market in India is forecast to reach US$ 6.6 billion by 2020. Growing awareness regarding the benefits of mobile wallets, rising smartphone and mobile internet penetration rates, and increasing security measures are expected to drive growth in India mobile wallet market. In 2014, Tier-I cities such as Delhi, Mumbai, Kolkata,...