インドのリアルタイム決済市場の評価：タイプ別、認証方法別、エンドユーザー別、地域別、機会、予測、2018年～2032年

インドのリアルタイム決済市場は、2025年から2032年の予測期間中にCAGR22.58％を記録し、2024年の78億4,000万米ドルから、2032年には399億8,000万米ドルに成長すると予測されています。インドにおけるリアルタイム決済市場の急成長の背景には、多くの要因があります。UPIは、シームレスな方法で即時取引を保証するため、デジタル決済に新たな顔を与えました。Digital IndiaやPradhan Mantri Jan Dhan Yojanaのような政府のイニシアチブは、金融包摂を促進し、もちろんデジタルリテラシーも向上させ、その結果、UPIの広範な普及に貢献しました。手頃な価格のデータプランと4Gネットワークの普及により、接続性とアクセシビリティも向上したため、この動向に強い弾みがつきました。モバイル・ウォレットは、リアルタイムの決済システムと銀行口座を持たない人々とのギャップを埋め、正式な金融システムへの参入を可能にしました。人工知能と機械学習の進歩は、取引の安全性とユーザー体験を向上させます。経済成長はリアルタイム決済取引の成長に直結しており、サイバーセキュリティ対策は国の金融詐欺対策に役立っています。DBTは政府による福祉プログラムの効率性と透明性を向上させました。農村部へのインターネット接続に関連する取り組みは、リアルタイム決済システムをさらに拡大するための強固な基盤を築きました。

リアルタイム決済とは、ほぼリアルタイムで行われるデジタル取引です。これにより、銀行口座と他の決済システムとの間でほぼ瞬時に資金を移動することができます。つまり、スムーズな決済が可能となります。これらのシステムは24時間365日稼働するように設計されており、取引はいつでも滞りなく完了します。このようなほぼ瞬時の処理能力により、消費者、企業、政府機関は、ピアツーピアの送金、請求書支払い、加盟店取引にアプリケーションを使用することが容易になります。リアルタイム決済はまた、デジタル決済サービスを利用してより多くの人々にアクセスが提供されるため、金融包摂の拡大にもつながります。2024年10月、Resilient Innovations Private Limited（BharatPe）は、Google Play StoreとApp StoreでInvest BharatPeアプリを開始しました。このアプリは100インドルピーから始められる一連の投資商品を提供し、24Kデジタルゴールドを購入することができます。祝祭シーズンには、購入金額に対して1.1％の金が無料で提供されます。

目次

第1章 プロジェクトの範囲と定義

第2章 調査手法

第3章 エグゼクティブサマリー

第4章 顧客の声

• 製品と市場情報
• ブランド認知のモード
• 購入決定時に考慮される要素
  • 安全
  • 統合
  • 料金
  • 取引速度
  • 特徴
  • スケーラビリティ
• カスタマーサポート
• プライバシーと規制の考慮

第5章 インドのリアルタイム決済市場の展望、2018年～2032年

• 市場規模の分析と予測
  • 金額別
• 市場シェア分析と予測
  • タイプ別
    • 請求書の支払い
    • 店舗内決済
    • オンライン決済
    • 個人対個人（P2P）
    • その他
  • 認証方法別
    • 銀行口座
    • 携帯
    • QRコード
  • エンドユーザー別
    • BFSI
    • 小売り
    • ヘルスケア
    • 政府
    • IT・通信
    • その他
  • 地域別
    • 北部
    • 南部
    • 東部
    • 西部・中部
  • 企業別市場シェア分析（上位5社とその他-金額別、2024年）
• 市場マップ分析、2024年
  • タイプ別
  • 認証方法別
  • エンドユーザー別
  • 地域別

第6章 需要供給分析

第7章 バリューチェーン分析

第8章 ポーターのファイブフォース分析

第9章 PESTLE分析

第10章 コスト分析

第11章 市場力学

• 市場促進要因
• 市場の課題

第12章 市場の動向と発展

第13章 ケーススタディ

第14章 競合情勢

• 市場リーダー上位5社の競合マトリックス
• 上位5企業のSWOT分析
• 市場上位10の主要企業の情勢
  • PhonePe Private Limited
  • 会社概要
  • 主要経営陣
  • 製品とサービス
  • 財務状況（報告通り）
  • 主な市場フォーカスと地理的プレゼンス
  • 最近の動向/コラボレーション/パートナーシップ/合併と買収
  • Google LLC（Gpay）
  • National Payments Corporation of India（NPCI）
  • One 97 Communications Limited（Paytm）
  • Razorpay Software Private Limited
  • PayPal Payments Private Limited
  • Volante Technologies India Private Limited
  • Mastercard India Services Private Limited
  • Visa Consolidated Support Services India
  • Resilient Innovations Private Limited（BharatPe）

上記の企業は市場シェアに基づいて注文を保留しておらず、調査作業中に入手可能な情報に基づいて変更される可能性があります。

第15章 戦略的提言

第16章 調査会社について・免責事項

List of Tables

• Table 1. Competition Matrix of Top 5 Market Leaders
• Table 2. Mergers & Acquisitions/ Joint Ventures (If Applicable)
• Table 3. About Us - Regions and Countries Where We Have Executed Client Projects

List of Figures

• Figure 1. India Real-Time Payments Market, By Value, In USD Billion, FY2018-FY2032F
• Figure 2. India Real-Time Payments Market Share (%), By Type, FY2018-FY2032F
• Figure 3. India Real-Time Payments Market Share (%), By Authorization Method, FY2018-FY2032F
• Figure 4. India Real-Time Payments Market Share (%), By End-user, FY2018-FY2032F
• Figure 5. India Real-Time Payments Market Share (%), By Region, FY2018-FY2032F
• Figure 6. By Type Map-Market Size (USD Billion) & Growth Rate (%), FY2024
• Figure 7. By Authorization Method Map-Market Size (USD Billion) & Growth Rate (%), FY2024
• Figure 8. By End-user Map-Market Size (USD Billion) & Growth Rate (%), FY2024
• Figure 9. By Region Map-Market Size (USD Billion) & Growth Rate (%), FY2024

India real-time payments market is projected to witness a CAGR of 22.58% during the forecast period FY2025-FY2032, growing from USD 7.84 billion in FY2024 to USD 39.98 billion in FY2032. There are many factors behind the exponential growth of the real-time payment market in India. UPI has given a new face to digital payments as it ensures instant transactions in a seamless manner. Government initiatives like Digital India and Pradhan Mantri Jan Dhan Yojana have encouraged financial inclusion and, of course, digital literacy, henceforth contributing to its wide adoption. There has been a strong impetus on the trend because of affordable data plans and 4G networks proliferation, which also increases connectivity and accessibility. The mobile wallets bridged the gap between real-time payment systems and the unbanked population, giving them an entry into the formal financial system. Advances in artificial intelligence and machine learning improve transaction security and user experience. Economic growth has been directly linked to real-time payment transactions growth, while cybersecurity measures have helped the nation fight financial fraud. DBT improved the efficiency and transparency of welfare programs by the government. Efforts related to bringing internet connectivity to rural areas have laid a solid foundation for the further expansion of real-time payment systems.

Real-time payments are digital transactions that are almost in real time. This allows for the transfer of funds between a bank account and other payment systems almost instantly. This means it is possible to have a smooth payment experience. These systems are designed to operate 24/7 and the transactions can be completed at any time without delay. Such a capacity for near-instant processing makes it easy for consumers, businesses, and government entities in using the application for peer-to-peer transfers, bill payments, and merchant transactions. Real-time payments also result in greater financial inclusion as access is provided to wider populations using digital payment services. In October 2024, Resilient Innovations Private Limited (BharatPe) launched its Invest BharatPe app on Google Play Store and App Store. This application offers a series of investment products that start at Rs. 100 with the facility of buying 24K digital gold. During festive seasons, it gives free 1.1% gold against every purchase made.

Increased Digitalization is Boosting Market Growth

Rapid digitalization in India is a major growth driver for the country's real-time payments market. Advanced digital technologies have revolutionized financial transactions, making them more efficient, secure, and accessible. The Unified Payments Interface (UPI) is a significant innovation that enables instant fund transfers and simplifies payments for millions. The volume of UPI transactions surged to 131.16 billion in FY2023-24 from 920 million in FY2017-18 with a CAGR of 129%. The value of UPI transactions surged to USD 2.4 trillion in FY2023-24 from USD 12 billion in FY2017-18 with a CAGR of 138%.

Cheap smartphones, coupled with good data plans, made more people in a range of age groups adopt real-time digital transactions. Moreover, harnessing cutting-edge technologies such as artificial intelligence and machine learning have strengthened transaction security and improved users' experience over a period, making digital payment systems more trustworthy. Both big and small businesses have adopted digital payment solutions into their system with seamless efficiency and higher customer satisfaction. The Indian real-time payments market will keep growing for a long period with further developments in the digital infrastructure. This may see India touch unparalleled records in the coming near future.

Government Initiatives to Drive Market Growth

Government initiatives form the backbone of India's growing real-time payment market. The initiative Digital India has been instrumental in turning the entire nation into a digitally literate marketplace, thus propelling digital payment methods. Programs undertaken under Financial Inclusion, like Pradhan Mantri Jan Dhan Yojana, have ensured that all unbanked customers received access to banking and digital payments. The National Payments Corporation of India has introduced Unified Payments Interface, revolutionizing the payment landscape by providing an instant and seamless mechanism of fund transfer. In December 2024, the National Payments Corporation of India (NPCI) lifted the user onboarding cap for WhatsApp Pay. This change allows WhatsApp Pay to extend its UPI services to its entire user base in India.

Digital transactions also received a fillip from the government-backed incentives and subsidies provided for such activities. The implementation of the Goods and Services Tax also gave a push to businesses to have digital payment solutions in place so that they were more transparent and compliant. The initiatives taken promoted a strong infrastructure for digital payments, which supported the growth of the real-time payments market. As the government continues to support digitalization and financial inclusion, India's real-time payment market is expected to grow sustainably and significantly.

Person-to-Person (P2P) Segment to Dominate India Real-Time Payments Market

Person-to-Person (P2P) is going to dominate India's real-time payments market with the help of digital payment platforms and changing consumer preferences. The advent of mobile wallets and UPI-based applications has made it easier than ever for people to transfer funds instantly and seamlessly. The facility to split bill or pay a friend or your sibling's/son's girlfriend rent, it's become routine of daily transaction of money: people have to opt for quick transactions. Many consumers are willing to abandon legacy bank methods altogether, embracing quicker P2P digital payments since it will offer their benefits. So, the government too supported this via their push and impetus over digital literacy/financial inclusion too which helped P2P transactions. Integration of advanced technologies such as biometrics and AI has further increased security and user experience in P2P transactions, increasing trust and adoption. The P2P segment is expected to see sustained growth with digital infrastructure and is likely to be a dominant force in India's real-time payments market.

In-store payments are one of the fastest-growing segments in the real-time payment market in India. The seamless integration of UPI and QR code-based solutions has enabled easy and secure transactions at physical retail locations. Customers love the speed and convenience of digital payments, whereas merchants enjoy a reduction in the cost of a transaction and a better customer satisfaction rate. In August 2024, Google Pay, a widely used payment app in India, introduced new features to enhance user experience. Announced at the Global Fintech Fest 2024, these features include UPI Circle, UPI Vouchers, Clickpay QR, and more, all set to roll out later this year. These updates aim to simplify digital payments for users across India.

Future Market Scenario (FY2025 - FY2032F)

Emerging payment products like Pay Later will be even more popular with the young consumers in urban localities.

It will have top-class cybersecurity layers that will shield users and assure trust in digital payment systems.

Instant payments are forecasted to generate positive GDP implications for India because the studies say there is direct correlation between surging UPI transaction volumes with the economic development of the region.

Government moves will further create more financial inclusions, and digital payment products will now reach a higher population.

Key Players Landscape and Outlook

India's real-time payments market competitive landscape is rapidly shifting. Major participants are top banks, fintech firms, and tech firms competing with one another. One of the largest players driving UPIs across multiple platforms is Unified Payments Interface. Constant innovations of these key players have kept pushing user experience, security, and transaction speeds further. Government initiatives and regulatory support have also helped shape the market, promoting competition and creating a growth-friendly environment. As the market grows, cooperation between traditional banks and fintech companies is becoming increasingly common, and new payment solutions are emerging. The push for financial inclusion and rural connectivity is opening the market to new entrants and extending its reach. With an estimated growth in the digital payments market, competition is supposed to heat up, and therefore, innovative solutions and better services are expected for consumers.

In November 2024, PhonePe Private Limited launched the ability to contribute to the National Pension System (NPS) under Bharat Connect (previously known as BBPS) on its platform. The launch enables millions of users to seamlessly and safely contribute directly to their NPS accounts through the PhonePe app, furthering ease and accessibility to their savings.

Table of Contents

1. Project Scope and Definitions

2. Research Methodology

3. Executive Summary

4. Voice of Customer

• 4.1. Product and Market Intelligence
• 4.2. Mode of Brand Awareness
• 4.3. Factors Considered in Purchase Decisions
  • 4.3.1. Security
  • 4.3.2. Integration
  • 4.3.3. Cost
  • 4.3.4. Transaction Speed
  • 4.3.5. Features
  • 4.3.6. Scalability
• 4.4. Customer Support
• 4.5. Consideration of Privacy and Regulations

5. India Real-Time Payments Market Outlook, FY2018-FY2032F

• 5.1. Market Size Analysis & Forecast
  • 5.1.1. By Value
• 5.2. Market Share Analysis & Forecast
  • 5.2.1. By Type
    • 5.2.1.1. Bill Payments
    • 5.2.1.2. In-Store Payments
    • 5.2.1.3. Online Payments
    • 5.2.1.4. Person-to-Person (P2P)
    • 5.2.1.5. Others
  • 5.2.2. By Authorization Method
    • 5.2.2.1. Bank Account
    • 5.2.2.2. Mobile
    • 5.2.2.3. QR Code
  • 5.2.3. By End-user
    • 5.2.3.1. BFSI
    • 5.2.3.2. Retail
    • 5.2.3.3. Healthcare
    • 5.2.3.4. Government
    • 5.2.3.5. IT and Telecom
    • 5.2.3.6. Others
  • 5.2.4. By Region
    • 5.2.4.1. North
    • 5.2.4.2. South
    • 5.2.4.3. East
    • 5.2.4.4. West and Central
  • 5.2.5. By Company Market Share Analysis (Top 5 Companies and Others - By Value, FY2024)
• 5.3. Market Map Analysis, FY2024
  • 5.3.1. By Type
  • 5.3.2. By Authorization Method
  • 5.3.3. By End-user
  • 5.3.4. By Region

6. Demand Supply Analysis

7. Value Chain Analysis

8. Porter's Five Forces Analysis

9. PESTLE Analysis

10. Cost Analysis

11. Market Dynamics

• 11.1. Market Drivers
• 11.2. Market Challenges

12. Market Trends and Developments

13. Case Studies

14. Competitive Landscape

• 14.1. Competition Matrix of Top 5 Market Leaders
• 14.2. SWOT Analysis for Top 5 Players
• 14.3. Key Players Landscape for Top 10 Market Players
  • 14.3.1. PhonePe Private Limited
    • 14.3.1.1. Company Details
    • 14.3.1.2. Key Management Personnel
    • 14.3.1.3. Products and Services
    • 14.3.1.4. Financials (As Reported)
    • 14.3.1.5. Key Market Focus and Geographical Presence
    • 14.3.1.6. Recent Developments/Collaborations/Partnerships/Mergers and Acquisition
  • 14.3.2. Google LLC (Gpay)
  • 14.3.3. National Payments Corporation of India (NPCI)
  • 14.3.4. One 97 Communications Limited (Paytm)
  • 14.3.5. Razorpay Software Private Limited
  • 14.3.6. PayPal Payments Private Limited
  • 14.3.7. Volante Technologies India Private Limited
  • 14.3.8. Mastercard India Services Private Limited
  • 14.3.9. Visa Consolidated Support Services India
  • 14.3.10. Resilient Innovations Private Limited (BharatPe)

Companies mentioned above DO NOT hold any order as per market share and can be changed as per information available during research work.

15. Strategic Recommendations

16. About Us and Disclaimer