印度数字支付行业市场前景及投资研究报告-培训课件外文版2024.5微信支付宝

DIGITAL

&

TRENDSDigitalpaymentsinIndiaCHAPTER

01MarketoverviewLeadingcountriesintheworldwiththehighestnumberofcontactlesscardtransactionsasof2022(inbillions)Top10countriesworldwidewithhighestnumberofcontactlesscardtransactions2022Transactionvolumeperannuminbillions30

40

500102060708090100ChinaUnitedStatesUnitedKingdomCanada86.8120.475.35.054.82IndiaRussia3.9France2.792.532.512.08SouthKoreaSpainJapan4Description:EstimatesarethatthenumberofcontactlesspaymenttransactionsinChinaarefourtimeshigherthanintheUnitedStatesasof2023.Thisisaccordingtoamodelthattriedtoestimatethemarketsizeofthisdigitalpaymentmethodacrossvariouscountriesworldwide.Notethatthesourceonlyusedthismodelforthe10countrieslistedhere.It,forexample,didnotlookintocountriesinLatinAmerica,SoutheastAsia,orAfrica.Theresultsherearesomewhatdifferentfromacountryranking[...]

ReadmoreNote(s):Canada,China,France,India,Japan,SouthKorea,Russia,Spain,UnitedKingdom,UnitedStates;March2023;numberofpaymentsperyear;Thesourcedoesnotclarifywhetherthecontactlesscardsincludedeithercreditcards,debitcards,orbothSource(s):JuniperResearchReserveBankofIndia'sdigitalpaymentindexfromMarch2018toMarch2023RBI'sdigitalpaymentindexIndia2018-2023450400350300250200395.57377.46349.3304.06270.59217.74207.84173.49153.47150100100500March2018*

March2019September2019March2020September2020March2021September2021March2022September2022March20235Description:AsofMarch2023,theReserveBankofIndia'sdigitalpaymentindexjumpedto395.57from377.46inSeptember2022.TheRBI-DPIindexhasshownconsistentgrowthsinceitsinceptionin2018,whichisusedasthebaseyearforcalculation.

ReadmoreNote(s):India;2018to2023;*BaseyearSource(s):ReserveBankofIndiaTransactionvalueofdigitalpaymentsintheAsia-Pacific(APAC)regionin2022,bycountryandsegment(inbillionU.S.dollars)DigitalpaymentstransactionvalueintheAPACregion2022,bycountryandsegmentTransactionalvalueinbillionU.S.dollarsDigitalCommerce1,500MobilePOSPayments2,00005001,0002,5003,0003,500ChinaJapanSouthKoreaIndiaIndonesiaAustraliaHongKongThailandPhilippinesVietnamMalaysiaSingaporeNewZealand6Description:In2022,ChinaisexpectedtohavethehighesttransactionalvalueinthemobilePOSpaymentsanddigitalcommercesegmentsofthedigitalpaymentsmarketwithavalueofapproximately1.48millionand1.74trillionU.S.dollarsrespectively.ReadmoreNote(s):APAC;*Onlycountrieswithatransactionvalueabove1billionU.S.dollarshavebeenconsidered.TheDigitalPaymentsmarketsegmentisledbyconsumertransactionsandincludespaymentsforproductsandserviceswhicharemade[...]

ReadmoreSource(s):DigitalMarketInsightsTotalnumberofdigitalpaymentsacrossIndiafromfinancialyear2018to2023(inbillions)VolumeofdigitalpaymentsIndiaFY2018-202312010080113.9571.956043.74403423.2620014.59FY2018FY2019FY2020FY2021FY2022FY20237Description:Infinancialyear2023,almost114billiondigitalpaymentswererecordedacrossIndia.Thiswasasignificantincreasecomparedtothepreviousthreeyears.

ReadmoreNote(s):India;FY2018toFY2023Source(s):ReserveBankofIndiaValueofdigitaltransactionsacrossIndiainfinancialyear2020and2023,withestimatesuntil2027(intrillionIndianrupees)ValueofdigitaltransactionsinIndiaFY2020-202760050040051841833330024120016610610006042FY2020FY2021FY2022FY2023FY2024*FY2025*FY2026*FY2027*8/statistics/1247251/india-value-of-digital-transactionsInfinancialyear2023,over103billiondigitaltransactionsworthover166trillionIndianrupeesoftransactionstookplaceacrossIndia.Thetransactionvaluewasestimatedtoriseupto518trillionIndianrupeesinfinancialyear2027inthecountry.ReadmoreNote(s):India;FY2020andFY2023;*Estimates.IncludesUPI,cards,NETCandPPIsOneIndianrupeeisequalto0.013U.S.dollarsand0.012euros(asofApril2022).India'sfinancialyearbeginsinAprilandendsinMarch.Forexample,FY2017[...]

ReadmoreSource(s):NPCI;PwCIndia;ReserveBankofIndiaVolumeofdigitaltransactionsinIndiainfinancialyear2023,bymode(inbillions)VolumeofdigitalpaymentsinIndiaFY2023,bymodeDigitalpaymentsinbillions10024681214161820BHIMInternetbankingPPI17.44.222.221.811.411.351.131.130.830.75OthersIMPSNEFTDebitcardNACHNETCCreditcardMobilebankingAEPS0.250.2RTGS0.07BHIMAadhaarClosedloopwallet0.0109Description:AsofDecember2022,BHIMorBharatInterfaceforMoneywasthemostusedmodeofdigitaltransactioninIndiawithatransactionvolumeofaround17billiontransactions.Internetbankingfollowedwitharoundfourbilliontransactions.ReadmoreNote(s):India;FY2023;asofDecember2022Source(s):DigitalIndia;MeitY(India)ShareofpaymentsystemsacrossIndiainfinancialyear2023,byvolumeShareofpaymentsystemsIndiaFY2023AEPS0.87%Others8.4%Mobilebanking1.05%Creditcard2.19%Internetbanking2.27%NETC2.56%Debitcard2.56%NACH3.48%IMPS3.92%NEFT3.97%BHIMUPI62.00%PPI5.6%10Description:Infinancialyear2023,theshareofBharatInterfaceforMoneyappthatusesUnifiedPaymentsInterface(BHIMUPI)wasthehighestcomparedtootherpaymentsystemsinIndiaatover60percent.UPIisaninstantreal-timepaymentsystemdevelopedbytheNationalPaymentsCorporationofIndiaandfacilitatesinter-banktransactions.ReadmoreNote(s):India;FY2023Source(s):MeitY(India);NPCI;ReserveBankofIndia;Varioussources(banks)CHAPTER

02InfrastructureLeadingbeneficiarybanksforUnifiedPaymentsInterfaceinIndiainJune2023,byvolume(inmillions)LeadingUPIbeneficiarybanksinIndia2023,byvolume2,5002,177.682,0001,735.591,5001,017.111,000644.25591.75479.175000274.76267.39213.89211.61PaytmPaymentsBankYesBankStateBankof

AxisBankLtdIndiaICICIBank

HDFCBankLtdBank

ofBarodaUnionBankof

FederalBankIndiaPunjabNationalBank12Description:InJune2023,thePaytmPaymentsBankwastheleadingbeneficiarybankforUPItransactionsinIndiawitharoundtwobilliontransactions.YesBankfollowedwithmorethan1.7billiontransactions.Beneficiarybankreferstothebankoftheaccountholderwhoisreceivingmoney.ReadmoreNote(s):India;June2023Source(s):NPCIGrowthinacceptanceofBharatInterfaceforMoney(BHIMUPI)QRcodeinIndiafromOctober2020toSeptember2022(inmillions)BHIMUPIQRcodeinIndia2020-2022250200216.43150120.5292.5210050065.75Oct'20Mar'21Sep'21Sep'2213Description:AsofSeptember2022,theacceptanceoftheBHIMUPIQRcodereachedaround216millioninIndia.Thiswasagrowthofaround79.5percentfromlastyear.BHIMisapaymentappdevelopedbyNationalPaymentsCorporationofIndiatoenableeasytransactionsthroughUnifiedpaymentInterface.ReadmoreNote(s):India;October2020toSeptember2022Source(s):MeitY(India);ReserveBankofIndiaNumberofmemberbanksaffiliatedtoNFSinIndiafromAugust2018toJune2023NumberofmemberbanksaffiliatedtoNFSIndia2018-20231,3001,2501,2001,2751,2711,2661,2571,2501,2471,213,92401,2361,2321,2291,2231,2161,210,2210,22031,1991,119,51961,1911,118,41851,1811,176

1,117,6117,61771,1741,1721,1651,1621,115,3115,41551,115,11511,114,91491,1471,1401,138

1,1371,1501,1001,0501,1321,112,81291,1231,11,41151,1041,0981,0881,08114Description:ThenumberofmemberbanksaffiliatedtotheNationalFinancialSwitchamountedto1,275inJune2023.TheNFSwastakenoverbytheNationalPaymentsCorporationofIndiafromtheInstituteofDevelopmentandResearchinBankingTechnologyinDecember2009andhadabout240thousandATMsfromvariousmemberbanks.ReadmoreNote(s):India;August2018toJune2023Source(s):NPCINumberofNETCpartnerbanksinIndiafromNovember2016toJanuary2022NumberofNETCpartnerbanksIndia2016-202240353025203535353533343433323131292928272727262626262626252524242323232322222222222222222221212120191715141412121510511111110101076

6543015Description:ThenumberofNationalElectronicTollCollection(NETC)partnerbanksinIndiaamountedto35asofJanuary2022.ThiswasanimprovementfromonlythreebanksinNovember2016.TheNETCwasdevelopedasaprogramtomanagerequirementsoftollpaymentsinthecountry'sdigitalmarket.ReadmoreNote(s):India;November2016toJanuary2022Source(s):NPCINumberofpartnerbanksforIMPSinIndiafromSeptember2013toJune2023PartnerbanksforIMPSIndia2013-20239008007006005004003002007777497173177066946846764776666

36

946

246

736

946

146

44

96

46

346

546

46

46

746

746

746

75

2638

6376296

1682602

36116035855905

75

375

675

87

956570556595465384

94

894

894

894

894

89

83

93

493

493

493

493

493

493

49

43

6346346

43431413233032926962621612

32

632

632

932

93

91

81

791

091

29

31810821711751614691431312341214251171018111010492958184717173747665676959595959595960606263100016Description:ThenumberofpartnerbankswhichwereprovidingImmediatePaymentServiceamountedtoabout777asofJune2023.SetupinNovember2010,IMPSisa24-hour,sevendayaweekserviceforinstantpaymentofinter-banktransfersviamobilephonesownedbytheNPCI.ReadmoreNote(s):India;September2013toJune2023Source(s):NPCINumberofpartnerbanksfacilitatingpaymentsthrough*99#inIndiafromFebruary2018toJune2023Partnerbanksfor*99#paymentsIndia20239085878686868686868686

86868683838383828282828383838383838383838383838383838383838383838383838383838383838380808080807978787880757065757473717017Description:Thenumberofpartnerbankswhichwerefacilitatingpaymentsthrough*99#inIndiastoodat83asofJune2023.*99#isaUSSDbasedmobilebankingserviceofNPCIwhichwaslaunchedinNovember2012,aidingthePradhanMantriJanDhanYojana.Itallowscustomerstoaccessfinancial,non-financialandvalue-addedservicesbydialingthedigitsontheirmobilephones.ReadmoreNote(s):India;February2018toJune2023Source(s):NPCINumberofATMsundertheNFSnetworkinIndiafromAugust2018toJune2023(in1,000s)NumberofATMsundertheNFSnetworkIndia2018-2023270265260255250266266266266266265263262261259258258257255254254253253253252252252252252251250

250249249249248

248248247246245244243242242242242242241241251249247249245239239

239240

23823523818Description:ThenumberofATMsundertheNationalFinancialSwitch(NFS)networkamountedtoover266thousandasofJune2023.TheNFSisIndia'slargestnetworkofATMswithnearly1,200affiliatedmembersandover300milliontransactions.ReadmoreNote(s):India;August2018toJune2023Source(s):NPCICHAPTER

03KeypaymentmethodsValueofcredittransfersacrossIndiafromfinancialyear2018to2023,bymodeofpayment(intrillionIndianrupees)ValueofcredittransfersIndiaFY2018-2023,bymodeAePSECSNACHAPBSIMPSNEFTUPI6005004003002001000FY2018FY2019FY2020FY2021FY2022FY202320Description:Infinancialyear2023,digitalpaymentsviatheNationalElectronicFundsTransfer(NEFT)valuedtoover337trillionIndianrupees.Thiswasbyfarthehighestvalueofcredittransfermodes.UnifiedPaymentsInterface(UPI)payments,whichmadeupthehighestnumberoftransactions,camesecondwithover139trillionIndianrupees.ReadmoreNote(s):India;FY2018toFY2023Source(s):ReserveBankofIndiaValueofdebittransfersacrossIndiafromfinancialyear2018to2023,bymodeofpayment(inbillionIndianrupees)ValueofdebittransfersIndiaFY2018-2023,bymodeBHIMAadhaarPayECSNACHNETC14,00012,00010,0008,0006,0004,0002,0000FY2018FY2019FY2020FY2021FY2022FY202321Description:Infinancialyear2023,overonebilliontransactionsinIndiawerereportedfortheNationalAutomatedClearingHouse(NACH)modeworthnearly12.8trillionIndianrupees.Thiswasbyfarthehighestvaluewithinthedebitpaymentssegment.NACHwasimplementedbytheNationalPaymentsCorporationofIndie(NPCI)andwaslargelyusedforlargetransferswithinthebankingandfinancialinstitutionssector.ReadmoreNote(s):India;FY2018toFY2023Source(s):ReserveBankofIndiaUnifiedPaymentInterface(UPI)usageacrossIndiainFY2022,byplatformUPIusageinIndiainFY2022,byplatformAllbanks,otherTPAPs6%AmazonPay1.80%Paytm14%PhonePe45%GooglePay33%22Description:Inthefinancialyear2022,PhonePeheld46percentshareofunifiedpaymentsinterfaces(UPI)usageinIndia,followedbyGooglePaywith34percent.LeadingfintechplayershavebeenkeydriversofUPIadoptioninIndia.

ReadmoreNote(s):India;FY2022Source(s):BCGIndia;NPCI;PhonePe;ReserveBankofIndiaValueofUPI-baseddigitalpaymentsacrossIndiafromfinancialyear2017to2023(inbillionIndianrupees)ValueofUPIdigitalpaymentsacrossIndiaFY2017-2023160,000140,000120,000100,00080,00060,00040,00020,000139,15084,16041,036.58FY202121,317.3FY20208,769.7FY20191,098.3FY201869.50FY2017FY2022FY202323Description:ThevalueofUPI-baseddigitalpaymentsinthesouthAsiancountryofIndiawasover139trillionIndianrupeesinfinancialyear2023.Thiswasastrongincreasefromthepreviousfinancialyear'svalueofover84trillionIndianrupees.Increasedpenetrationofsmartserviceapplicationsanddigitaltechnologiesaretheprimarycontributorstotheenormousgrowthindigitalpaymentsinthecountry.ReadmoreNote(s):India;FY2017toFY2023;UPIbasedpayments.Source(s):NPCI;ReserveBankofIndiaVolumeofcardpaymentsinIndiafromfinancialyear2014to2022,bytype(inbillions)VolumeofcardpaymentsIndiaFY2014-2022,bytypeCreditcardDebitcard1816141210814.2711.9510.9669.255.067.813.944206.714.012.182.241.771.761.411.090.790.51FY20140.62FY2015FY2016FY2017FY2018FY2019FY2020FY2021FY202224Description:ThevolumeofdebitcardpaymentsinIndiaforthefiscalyear2022wasoverthreebillion,whilethevolumeofcreditcardpaymentwasestimatedatover2.24billionduringthesametimeperiod.Thegovernmentinitiativesmadetheaccessibilityanduseofdigitalpaymentswidespread,aspiringtomakeIndiaacashlesseconomy.TheIndiandigitalpaymentsmarketwasestimatedtoreachtheonetrillionU.S.dollarmarkbytheyear2023.

ReadmoreNote(s):India;FY2014toFY2022Source(s):ReserveBankofIndiaNumberofPradhanMantriJan-DhanYojanaRuPaydebitcardsissuedinIndiaasofAugust2023,bysector(inmillions)NumberofRuPaydebitcardsissuedunderPMJDYinIndia2023,bysector400350300250200150100339.1293.150034.511.5PrivatebanksRegionalruralbanksPublicbanksTotal25Description:Ofatotal339milliondebitcards,about293millionRuPaydebitcardscamefrompublicsectorbanksundertheIndiangovernment'sfinancialplanasofAugust2023.Overelevenmillionwereissuedundertheprivatesector.

ReadmoreNote(s):India;asofAugust2,2023Source(s):PMJDY;Varioussources(Datafromvariousbanks)NumberoftransactionsdonethroughBHIMinIndiafromJanuary2017toJune2023(inmillions)NumberoftransactionsthroughBHIMIndia2016-2023302527.1267.0126.2125.2255.1326.4725.74

25.624.7925.3265.3123.0622.524.83

24.7925.0224.8324.7124.4424.3224.3223.4273.2823.6522.74232.533.6123.18222.82.922.1621.3320.9220.3619.7720.361

8

.1584.

417.82201510518.2717.3517.8717.0616.8196.9617.1817.0516.81

61.

364.14612.65.

3

314.1612.616.0115.7715.4915.7615.1514.9213.9812.8313.911.959.579.079.888.197.76.636.815.434.623.983.192.461.971.72026Description:ThenumberoftransactionsdonethroughtheBharatInterfaceforMoney(BHIM)appamountedtoover22millionasofJune2023.SinceAugust2020,thetransactionvolumehadbeenfluctuatingonacomparativelyhighlevelabove20milliontransactions.ReadmoreNote(s):India;January2017

toJune2023Source(s):NPCINumberofmonthlyAePstransactionsacrossIndia2016to2023(inmillions)NumberofAePstransactionsinIndia2016-2023500450400350300250200150100447.25408.06313.92185.55172.84100.5351.645015.090March2016March2017March2018March2019March2020March2021March2022March202327/statistics/1247246/india-number-of-aeps-transactionsInMarch2023,AePsrecordedover447.25milliontransactionsacrossIndia.AadhaarenabledPaymentSystem(AePS)waslaunchedin2016tofacilitatebankingservicesinruralandunbankedareasusingtheelectronicidentificationsystemAadhaar.

ReadmoreNote(s):India;2016to2023Source(s):NPCIVolumeofpaymentsmadethroughPrepaidPaymentInstrumentsinIndiafromfinancialyear2014to2022(inbillions)VolumeofPPIpaymentsIndiaFY2014-202276546.585.334.934.63.4632101.960.750.310.13FY2014FY2015FY2016FY2017FY2018FY2019FY2020FY2021FY202228Description:ThevolumeofPPIpaymentsinIndiainfiscalyear2022accountedforapproximately6.58billion.Thiswasaincreasefromthepreviousfiscalyear.Prepaidpaymentinstrumentsincludedm-wallets,PPIcardsandpapervouchers.Thedigitalpaymentmarkethadseensignificantgrowthinrecentyears,specificallyinIndiaduetothegovernment'seffortstodigitizetheeconomy.ReadmoreNote(s):India;FY2014toFY2022Source(s):ReserveBankofIndiaNumberofmobilewallettransactionsacrossIndiafromfinancialyear2013to2022(inbillions)VolumeofmobilewallettransactionsinIndiaFY2013-20224,5004,0003,5003,0002,5002,0001,5001,0005004,242.64,141.33,998.73,866.63,0261,630604255107.532.70FY2013FY2014FY2015FY2016FY2017FY2018FY2019FY2020FY2021FY2022*29Description:Thevolumeofmobilewallettransactionswasaboutfourbillioninfinancialyear2021,asignificantincreasefromabout32.7milliontransactionsinfinancialyear2013.Thegrowthintransactionvolumesdippedinfinancialyear2021duetothecovid-19pandemic.ReadmoreNote(s):India;FY2013toFY2022;*TillDecember2021.ReadmoreSource(s):Factly;ReserveBankofIndiaCHAPTER

04FintechplayersLeadingfintechunicornstartupsinfirsthalfoffinancialyear2022,byvalue(inbillionU.S.dollars)LeadingfintechunicornstartupsIndiaH1FY2022,byvalueValueinbillionU.S.dollars80246101214161618PaytmPhonePeBillDesk5.54.7CRED4PolicyBazaarDigitInsurancePineLabsRazorPayGroww3.53.5333BharatPeCoinswitchZeta2.91.91.5CoinDCX1.131Description:Paytm,theUPIbasedfintechunicorncompanywasvaluedatover16billionU.S.dollarsasoffirsthalfoffinancialyear2022inIndia.Furthermore,Coinswitch,thecryptostartupwasvaluedatover1.9billiondollarsinthattimeperiod.

ReadmoreNote(s):India;asofH1FY2022Source(s):CaliforniaLifeSciences;TimesofIndiaMarketshareofUnifiedPaymentInterfaceinIndiaasof1sthalfof2022,byleadingappUPIappmarketshareIndiaH12022,byleadingappMarketshare25%0%5%10%15%20%30%35%40%45%43%50%PhonePeGooglePayPaytm43%8%AmazonPayCRED1%1%BHIM2%2%Others32Description:PhonePeandGooglePayhadthehighestUPIappmarketshareofabout43percentasoffirsthalfoffinancialyear2022.ThiswasfollowedbyPaytmwithappmarketshareofeightpercentinthattimeperiod.

ReadmoreNote(s):India;H12022Source(s):TimesofIndiaRevenuefromoperationsofOne97Communications(Paytm)fromfinancialyear2017to2022(inbillionIndianrupees)RevenuefromoperationsofOne97Communications(Paytm)FY2017-202260504049.7432.8132.3230.5328.0230201006.15FY2017FY2018FY2019FY2020FY2021FY202233Description:TherevenuefromoperationsforPaytminfiscalyear2022stoodataround48billionIndianrupees.Thisvaluewasabigincreasefrompreviousyear.Paytm,apopulardigitalpaymentappisasubsidiaryofOne97CommunicationsbasedinNoidaSEZ,India.ReadmoreNote(s):India;FY2017

toFY2022;consolidatedfigures.Source(s):One97RevenueofMobiKwikbetweenfinancialyear2017and2022(inmillionIndianrupees)RevenueofMobiKwikFY2017-20226,0005,0004,0003,0002,0005,432.193,6983,0231,6208601,0004500FY2017FY2018FY2019FY2020FY2021FY202234Description:TherevenueofMobiKwikreached5.4billionIndianrupeesinfiscalyear2021.Thiswasasignificantdecreasecomparedtothepreviousyear.MobiKwikisanIndian-baseddigitalwalletcompanyfoundedin2009.

ReadmoreNote(s):India;FY2017

toFY2022;consolidatedfiguresSource(s):MobiKwikOperatingrevenueofBillDeskfromfinancialyear2019to2022(inbillionIndianrupees)BillDesk'soperatingrevenueFY2019-202230252024.4321.2418.0514.05151050FY2019FY2020FY2021FY202235/statistics/1329441/billdesk-operating-revenueInfiscalyear2022,theIndianB2Bfintechcompany,BillDesk'soperatingrevenuegrewtomorethan24billionIndianrupees.Thiswasanincreaseascomparedtothepreviousyear.TheonlinepaymentgatewaycompanywasacquiredbyPayUin2021.ReadmoreNote(s):India;FY2019toFY2022Source(s):EntrackrValueofprivateequityandventurecapitaldealsindigitalpaymentsandwalletsspaceinIndiain2021,bycompany(inmillionU.S.dollars)ValueofPE/VCdealsindigitalpaymentsandwalletsspaceIndia2021,bycompany400375370338350300250200150100502852500RazorpaySoftwareResilientInnovationsOne97CommunicationsPineLabsBetterWorldTechnology(Zeta)36Description:TheonlinepaymentsolutioncompanyRazorpaySoftwarereceivedthehighestfundingin2021fromPE/VCdealsworth375millionUSdollars.ItwascloselyfollowedbyResilientInnovationsdoingbusinessasBharatPe,acompanythatdevelopspaymentapplicationthatfacilitatestransferofmoneyfromoneaccounttoanother.Paytm'sparentcompanyOne97Communicationssecuredaround338millionUSdollarsworthofPE/VCdeals.ReadmoreNote(s):India;2021Source(s):EY;TracxnTechnologiesCHAPTER

05ConsumeropinionMostusedonlinepaymentsbybrandinIndiaasofJune2023MostusedonlinepaymentsbybrandinIndia2023Shareofrespondents0%10%20%30%40%50%60%70%80%GooglePayPaytmAmazonPayPhonePe77%77%75%69%BHIMPayPal46%45%MobiKwikRazorPay21%19%CashfreePaymentsCCAvenuePayUMoneyAirpay10%10%10%7%7%CitrusPay38Description:WeaskedIndianconsumersabout"Mostusedonlinepaymentsbybrand"andfoundthat"GooglePay"takesthetopspot,while"InstaMojo"isattheotherendoftheranking.ReadmoreNote(s):India;July2022toJune2023;2503respondents;18-54years;respondentswhousedonlinepaymentmethods(Health,Finance,Insurance)Source(s):ConsumerInsightsMobilepaymentsbysituationinIndiain2022MobilepaymentsbysituationinIndia2022Shareofrespondents0%10%20%30%40%50%60%IwouldliketopaywithmysmartphoneallthetimeForfoodanddrinksinrestaurantsFortravelbooking56%21%19%18%16%14%14%12%11%Foreverydaypurchases(e.g.food)ForfoodanddrinksinbarsandcafésForminorpurchases(e.g.decorationitems)ForpublictransportationticketsForadmissionticketsFormajorpurchases(e.g.washingmachine)Idon'twanttopaywithmysmartphoneatallOther3%3%Don'tknow1%39Description:Whenaskedabout"Mobilepaymentsbysituation",mostIndianrespondentspick"Iwouldliketopaywithmysmartphoneallthetime"asananswer.56percentdidsoinouronlinesurveyin2022.ReadmoreNote(s):India;fourwavesfrom07January2022to13December2022;4026respondents;18-54yearsSource(s):ConsumerInsightsReasonsfornotusinge-paymentmethodsinIndiain2022,bygenderReasonsfornotusinge-paymentservicesIndia2022,bygenderShareofrespondentsMale0%Female5%10%15%20%25%30%35%40%38%Iprefercash38%15%14%Idonottruste-payments/IhaveconcernsaboutthesecurityofsuchpaymentsIdonotownabank/financialaccount13%13%13%Others10%7%6%Idonotknowhowe-paymen