Dec, 2016 | By Anil Kumar , Ujjwal Chaudhry
Mobile Wallets Market in India
Indian regulation is enabling the cashless push through regulatory support
Anil Kumar
CEO
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
Objective
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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