Accelerating Electronic Payment Adoption in India

By  |  December 19, 2011
 | 

    Get the Full Story

    Complete the form to unlock this article and enjoy unlimited free access to all PYMNTS content — no additional logins required.

    yesSubscribe to our daily newsletter, PYMNTS Today.

    By completing this form, you agree to receive marketing communications from PYMNTS and to the sharing of your information with our sponsor, if applicable, in accordance with our Privacy Policy and Terms and Conditions.

    Click here to download a free copy of Incredible India! Four Imperatives to Accelerate Electronic Payment Adoption by TSYS.

    We’d love to be your preferred source for news.

    Please add us to your preferred sources list so our news, data and interviews show up in your feed. Thanks!

    Add as Preferred Source

    A leading analyst group predicts that “India will climb…to be one of the world’s top five generators of non-cash payments by 2017.”1 In the emerging BRIC (Brazil, Russia, India and China) markets, cash remains king; but in India the tide is turning as consumers increasingly conduct electronic payment transactions with either plastic cards or, to a lesser degree, mobile phone-based applications. This market trend is being driven by a population of more than 1.2 billion, 350-400 million of which are part of the burgeoning middle class. This key demographic, growing annually at five percent, is developing a voracious appetite for consumer goods that can be supported through access to basic banking services provided by domestic and foreign financial institutions.

    Click here to download a free copy of Incredible India! Four Imperatives to Accelerate Electronic Payment Adoption by TSYS.

    Related: Incredible India! M-Payments and Prepaid Poised to Define FIs Delivery of Banking & Payment Services to Rural India


    See More In: