QRコード決済のインド市場の評価：タイプ別、決済方式別、エンドユーザー別、用途別、地域別、機会、予測（2019年度～2033年度）

インドのQRコード決済の市場規模は、2025年度の7億9,000万米ドルから2033年度に22億3,000万米ドルに達すると予測され、予測期間（2026年度～2033年度）にCAGRで13.87%の成長が見込まれます。これは、パンデミック後の消費者習慣、商店のデジタル化、フィンテック投資の高まりが、個人間決済以外にもQRコードの使用を拡大させていることによるものです。今日のインドのQRコード決済エコシステムは、相互運用性、拡張性、リアルタイム取引機能により、デジタル金融包摂の世界的モデルとなっています。Digital Indiaのような政府の取り組みやフィンテック企業の果たす役割が、都市部と農村部の両方で普及をさらに促進しています。

パンデミック後の消費者習慣、商店のデジタル化、フィンテック投資の増加により、QRコードの利用は個人間決済以外にも広がっています。QRコードは、交通システム、料金所、ホスピタリティカウンター、さらには診療所でも利用されています。相互運用可能なプラットフォームや政府が支援するデジタルレールの台頭により、QRコードはどこにも行きません。より強力になる一方です。

例えば2025年度、UPI QR Codeは前年度比91.5%増という驚異的な伸びを示し、2024年度～2025年度の終わりには6億5,790万のQRコードが展開されました。これらのQRコードの75%超はTier 2およびTier 3の地域に設置されており、大都市以外にも広く受け入れられていることを示しています。これは単なる成長ではなく、全国的な普及であり、QR決済をインド全土の数百万を超える商店や消費者が利用できるようにしています。

当レポートでは、インドのQRコード決済市場について調査分析し、市場規模と予測、市場力学、主要企業の情勢などを提供しています。

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

• 回答者の人口統計
• QRコード決済の認知度と使用状況
• 採用の主な促進要因
• 決済の選好：ユースケース別
• QR決済に関する課題と懸念

第5章 インドのQRコード決済市場の見通し（2019年度～2033年度）

• 市場規模の分析と予測
  • 金額
• 市場シェアの分析と予測
  • タイプ別
    • 静的QRコード
    • 動的QRコード
  • 決済方式別
    • カードベース
    • ウォレットベース
    • 銀行振込
  • エンドユーザー別
    • 小売消費者
    • 商店
    • 企業
  • 用途別
    • 小売
    • 輸送
    • ホスピタリティ
    • 医療
    • その他
  • 地域別
    • 北部
    • 南部
    • 東部
    • 西部・中部
  • 市場シェア分析：企業別（上位5社とその他）（金額）（2024年度）
• 市場マップ分析（2024年度）
  • タイプ別
  • 決済方式別
  • エンドユーザー別
  • 用途別
  • 地域別

第6章 需給の分析

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 コミッション/サブスクリプション分析

第11章 市場力学

• 市場促進要因
• 市場の課題

第12章 市場動向と発展

第13章 政策と規制情勢

第14章 ケーススタディ

第15章 競合情勢

• マーケットリーダー上位5社の競合マトリクス
• 上位5社のSWOT分析
• 主要8社の市場企業の情勢
  • One97 Communications Limited (Paytm)
  • PhonePe Pvt. Ltd.
  • Google LLC (Google Pay)
  • Mobikwik Technology Solutions Pvt. Ltd.
  • Dreamplug Technologies Pvt. Ltd. (CRED)
  • Amazon.com, Inc. (Amazon Pay)
  • Resilient Innovations Private Limited (BharatPe)
  • Reliance Jio Infocomm Limited (JioMoney)

第16章 戦略的提言

第17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 QR code payments Market, By Value, In USD Billion, FY2019-FY2033F
• Figure 2. India QR code payments Market Share (%), By Type, FY2019-FY2033F
• Figure 3. India QR code payments Market Share (%), By Payment Mode, FY2019-FY2033F
• Figure 4. India QR code payments Market Share (%), By End-user, FY2019-FY2033F
• Figure 5. India QR code payments Market Share (%), By Application, FY2019-FY2033F
• Figure 6. India QR code payments Market Share (%), By Region, FY2019-FY2033F
• Figure 7. By Type Map-Market Size (USD Billion) & Growth Rate (%), FY2025
• Figure 8. By Payment Mode Map-Market Size (USD Billion) & Growth Rate (%), FY2025
• Figure 9. By End-user Type Map-Market Size (USD Billion) & Growth Rate (%), FY2025
• Figure 10. By Application Map-Market Size (USD Billion) & Growth Rate (%), FY2025
• Figure 11. By Region Map-Market Size (USD Billion) & Growth Rate (%), FY2025

India QR code payments market is projected to witness a CAGR of 13.87% during the forecast period, FY2026-FY2033, growing from USD 0.79 billion in FY2025 to USD 2.23 billion in FY2033, driven by post-pandemic consumer habits, merchant digitization, and rising fintech investments, which have expanded QR code use beyond person-to-person payments. India's QR code payment ecosystem today stands as a global model of digital financial inclusion, driven by interoperability, scalability, and real-time transaction capabilities. Government initiatives, such as Digital India, and the role of fintech players have further propelled adoption across both urban and rural areas.

Post-pandemic consumer habits, merchant digitization, and rising fintech investments have expanded the use of QR codes beyond person-to-person payments. It is in transport systems, toll plazas, hospitality counters, and even clinics. With the rise of interoperable platforms and government-backed digital rails, QR codes are not going anywhere. It is only going stronger.

For instance, in FY2025, the UPI QR Code infrastructure experienced a staggering 91.5% year-on-year increase, reaching 657.9 million QR codes deployed by the end of FY2024-25. Over 75% of these QR codes were installed in Tier 2 and Tier 3 areas, signaling a significant spread of acceptance beyond metro cities. This is not just growth, it is nationwide adoption, making QR payments accessible to millions more merchants and consumers across India.

Merchant-Led Expansion Across Urban and Semi-Urban India Brings Market Enlargement

India's vast base of small and medium merchants is the engine behind QR growth. With zero setup cost and instant onboarding, even the smallest kirana shop can start accepting digital payments via QR. This decentralization of digital acceptance infrastructure has brought millions into the formal payment economy.

Additionally, the rapid adoption of QR code payments in India is being driven by merchants in urban and semi-urban areas, facilitating seamless digital transactions. Small vendors, retailers, and service providers are increasingly adopting QR-based UPI payments, boosting financial inclusion. Government incentives and rising smartphone penetration further accelerate this growth. As a result, India's QR code payment market is expanding rapidly, transforming the digital payment landscape.

For instance, in February 2024, PhonePe reported over 39 million merchants on its platform, with 90% of new onboardings coming from tier-2 and tier-3 towns. Their "Smart QR" and "Merchant Credit" services, tied to QR usage data, helped convert offline vendors into digitally transacting entities.

QR Code Integration into Institutional and Utility Payments Shapes the Market

QR payments have evolved beyond retail and peer transactions. Now, toll booths, transport services, hospitals, and even educational institutions are deploying dynamic or institutional QR codes for faster, contactless payments. From trains to traffic fines, QR is simplifying workflows for institutions and consumers alike.

Additionally, the adoption of QR codes in institutional and utility payments, including taxes, electricity bills, and municipal services, is driving market growth. Government initiatives and fintech partnerships are accelerating seamless, cashless transactions across sectors. This shift enhances transparency, reduces processing delays, and expands digital payment accessibility. As a result, QR-based payments are becoming a cornerstone of India's evolving financial ecosystem.

For instance, in April 2024, Paytm announced that it had enabled QR-based ticketing across more than 20 metro stations in Delhi and Mumbai as part of a partnership with the DMRC and MMRC. Commuters can scan dynamic QR codes at gates via the Paytm app, enabling seamless access without the need to tap cards or stand in lines.

Wallet-Based QR Payments Dominates India QR Code Payments Market

While UPI dominates in volume, mobile wallets are making a comeback, especially among Gen Z and millennial users who value instant cashback, loyalty points, and cross-platform perks. These loyalty-based wallet models are now driving QR transactions, not just as a payment tool, but as a gateway to a lifestyle.

Additionally, Mobile wallet providers including Paytm, PhonePe, and Google Pay are driving the widespread adoption of QR code payments across India. Their user-friendly interfaces, cashback offers, and merchant incentives have made wallet-based QR scans the preferred choice for small transactions. With increasing smartphone penetration and digital literacy, wallet-linked QR payments continue to lead over traditional card and UPI-only solutions. This dominance is reshaping India's cashless economy, especially among small merchants and young consumers. For instance, in December 2023, Amazon Pay launched a QR-code payment integration with cashbacks linked to Amazon shopping. Simultaneously, CRED introduced QR-based bill payment incentives, allowing users to earn CRED Coins and partner benefits for every transaction.

Key Players Landscape and Outlook

India's QR code payment ecosystem is shaped by fierce competition and government-backed rails. PhonePe, Paytm, and Google Pay dominate merchant acquisition and QR code issuance, with innovations such as dynamic QR codes, voice-enabled payment confirmation, and merchant financing. BharatPe, with its no-fee QR and lending suite, continues to drive adoption in offline retail. MobiKwik and CRED are leveraging QR codes for high-value use cases, such as bill payments and subscriptions. Amazon Pay and JioMoney are integrating QR within their broader commerce ecosystems, targeting consumer stickiness via cashback and loyalty tie-ins.

For instance, in May 2025, PhonePe Pvt. Ltd. introduced its next-generation SmartSpeaker, manufactured in India, to meet the changing needs of merchants better. The upgraded device features 4G connectivity for faster performance and greater reliability, while maintaining popular functions from the previous model. Additional improvements include longer battery life, enhanced audio clarity, and a more compact design. With this launch, PhonePe aims to promote financial inclusion and boost domestic technological innovation.

Table of Contents

1. Project Scope and Definitions

2. Research Methodology

3. Executive Summary

4. Voice of Customers

• 4.1. Respondent Demographics
• 4.2. Awareness and Usage of QR Code Payments
• 4.3. Key Drivers for Adoption
• 4.4. Payment Preferences by Use Case
• 4.5. Challenges and Concerns Regarding QR Payments

5. India QR Code Payments Market Outlook, FY2019-FY2033F

• 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. Static QR Code
    • 5.2.1.2. Dynamic QR Code
  • 5.2.2. By Payment Mode
    • 5.2.2.1. Card-based
    • 5.2.2.2. Wallet-based
    • 5.2.2.3. Bank Transfer
  • 5.2.3. By End-user
    • 5.2.3.1. Retail Consumer
    • 5.2.3.2. Merchants
    • 5.2.3.3. Enterprises
  • 5.2.4. By Application
    • 5.2.4.1. Retail
    • 5.2.4.2. Transportation
    • 5.2.4.3. Hospitality
    • 5.2.4.4. Healthcare
    • 5.2.4.5. Other
  • 5.2.5. By Region
    • 5.2.5.1. North
    • 5.2.5.2. South
    • 5.2.5.3. East
    • 5.2.5.4. West and Central
  • 5.2.6. 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 Payment Mode
  • 5.3.3. By End-user
  • 5.3.4. By Application
  • 5.3.5. By Region

6. Demand Supply Analysis

7. Value Chain Analysis

8. Porter's Five Forces Analysis

9. PESTLE Analysis

10. Commission/Subscription Analysis

11. Market Dynamics

• 11.1. Market Drivers
• 11.2. Market Challenges

12. Market Trends and Developments

13. Policy and Regulatory Landscape

14. Case Studies

15. Competitive Landscape

• 15.1. Competition Matrix of Top 5 Market Leaders
• 15.2. SWOT Analysis for Top 5 Players
• 15.3. Key Players Landscape for Top 8 Market Players
  • 15.3.1. One97 Communications Limited (Paytm)
    • 15.3.1.1. Company Details
    • 15.3.1.2. Key Management Personnel
    • 15.3.1.3. Products and Services
    • 15.3.1.4. Financials (As Reported)
    • 15.3.1.5. Key Market Focus and Geographical Presence
    • 15.3.1.6. Recent Developments/Collaborations/Partnerships/Mergers and Acquisition
  • 15.3.2. PhonePe Pvt. Ltd.
  • 15.3.3. Google LLC (Google Pay)
  • 15.3.4. Mobikwik Technology Solutions Pvt. Ltd.
  • 15.3.5. Dreamplug Technologies Pvt. Ltd. (CRED)
  • 15.3.6. Amazon.com, Inc. (Amazon Pay)
  • 15.3.7. Resilient Innovations Private Limited (BharatPe)
  • 15.3.8. Reliance Jio Infocomm Limited (JioMoney)

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

16. Strategic Recommendations

17. About Us and Disclaimer