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Dec, 2016      |     By Anil Kumar , Ujjwal Chaudhry

Mobile Wallets Market in India

Indian regulation is enabling the cashless push through regulatory support

Anil Kumar


ujjwal chaudhry

associate director

  • A short perspective document on the mobile wallets sector and key players
  • Assessed through a regularly tracked set of performance indicators
  • Published half-yearly

Study Background


Gathering insights on multiple aspects of the Digital Wallet market in India including -

  • Industry size and market future
  • Market share and insights on key players

Research Approach

RedSeer's Integrated Research Approach TM , incorporating the following-

  • Primary Interviews with 300+ shoppers
  • Merchant Interviews
  • Desk Research

Indian regulation is enabling the cashless push through regulatory support, with demonetization the most recent impetus

Demonetization had a greater positive impact on Merchant onboarding as first-time users adopted Digital Wallets

Digital Wallets have now entered the high-growth phase

Online commerce is compounding the accelerated adoption of Mobile Wallets with a strong network effect

Consumers have identified alternative online and offline use cases for Digital Wallets beyond just Recharges

2017 will be an exciting year with growing consumer comfort and ecosystem support

Paytm dominates the landscape in a very fragmented Digital Wallet market

Paytm leads comfortably in all categories; Mobikwik does well in Restaurants with pan-India tie-ups

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