India Retail Digital P2M Payment Aggregation Services Market

June 2024 | 59 pages | ID: IAA20A7E4BE6EN
Evolve Business Intelligence

Abstracts

India Retail Digital P2M Payment Aggregation Services Market By Type (Cross-Border Payment, Local Payment) – Covid-19 Impact Analysis, Post Covid Analysis, Opportunities, Trends And Forecast From 2021 t-2034

The India Retail Digital P2M Payment Aggregation Services market was valued at $1.82 Billion in 2023 and is anticipated t-grow at a CAGR of 14.54% from 2024 t-2034. This growth is attributed t-several macr-and microeconomic factors such as

• Surge in e-commerce

The surge in e-commerce is a significant driving factor in the India retail digital P2M (Person-to-Merchant) payment aggregation services market. As e-commerce rapidly expands in India, it has led t-a substantial increase in online transactions, creating a demand for efficient and secure digital payment solutions. The convenience and efficiency of e-commerce shopping necessitate quick and hassle-free payment processes, driving the adoption of P2M payment aggregation services. This growth in e-commerce has als-coincided with a broader shift towards digital payment methods, such as digital wallets, UPI, and credit and debit cards. P2M payment aggregation services integrate multiple payment methods int-a single platform, making it easier for merchants t-manage payments and for consumers t-choose their preferred payment option. Additionally, e-commerce platforms provide small and medium enterprises (SMEs) with opportunities t-reach a wider customer base, and these businesses require scalable and secure payment processing solutions offered by P2M services. The importance of secure payment solutions has increased with the growth of e-commerce, as consumers need assurance that their financial information is protected. P2M payment aggregation services, with their advanced security features, help build trust among users. Furthermore, government initiatives like Digital India promote cashless transactions and digital literacy, encouraging more people t-shop online and use digital payment methods. The integration of emerging technologies, such as artificial intelligence and machine learning, by e-commerce platforms enhances customer experience and streamlines operations, further driving the demand for personalized and efficient payment solutions provided by P2M payment aggregation services.

Further several factors restraining the market growth include

• Cybersecurity threats

Cybersecurity threats are a significant restraining factor in the India retail digital P2M (Person-to-Merchant) payment aggregation services market, impacting both growth and trust in digital payment systems. As e-commerce and digital transactions increase, s-d-the risks of cyber attacks, fraud, and data breaches. These threats lead t-potential data breaches and financial losses, undermining confidence in digital payment systems as sensitive consumer and merchant information may be exposed, leading t-identity theft and unauthorized transactions. Such incidents erode trust among users, making them hesitant t-adopt or continue using digital payment services. Additionally, the high costs of implementing robust cybersecurity measures, including advanced security technologies and regular audits, pose a financial burden, particularly for smaller companies and startups. Regulatory compliance with stringent data protection laws adds another layer of complexity and cost, with non-compliance resulting in severe penalties. The evolving nature of cyber threats requires continuous updates and improvements t-security systems, straining resources and diverting focus from other business areas. Enhanced security measures can als-complicate the user experience, introducing friction through multi-factor authentication and frequent security checks, potentially deterring users. Balancing the need for strong security with a seamless user experience is essential but challenging. Overall, cybersecurity threats significantly restrain the market by creating financial risks, eroding trust, imposing high costs, complicating regulatory compliance, and affecting customer experience.

Wider payment options and collaborations and alliances in the Retail Digital P2M Payment Aggregation Services market are expected t-generate higher avenues during the forecast period.

In the wake of the COVID-19 pandemic, supply chain disruptions have led t-supply shortages or lower demand in the Retail Digital P2M Payment Aggregation Services market. The pandemic has caused a decline in new orders and a corresponding decrease in Purposeion.

This section will analyze how COVID-19 has impacted supply chains, leading t-shortages and lower demand for Retail Digital P2M Payment Aggregation Services.

In terms of COVID-19 impact, the Retail Digital P2M Payment Aggregation Services market report als-includes the following data points:

• Impact on Retail Digital P2M Payment Aggregation Services market size
• Operating Weights Trend, Preferences, and Budget Impact
• Regulatory Framework/Outdoor Policies
• Key Players' Strategy t-Tackle Negative Impact/Post-COVID Strategies
• Opportunity in the Retail Digital P2M Payment Aggregation Services market

Key Insight in the report:

The India Retail Digital P2M Payment Aggregation Services market report covers an executive summary, market dynamics, COVID impact & post-COVID scenario, market size and forecast, competitive intelligence, market positioning, and Purposes.

Our report covers extensive competitive intelligence which includes the following data points:

• Business Overview
• Business Segment Data
• Financial Data
• Purpose Segment Analysis and Specification
• Recent Development and Company Strategy Analysis
• SWOT Analysis

Retail Digital P2M Payment Aggregation Services Market Segmentation:

• Type
• Cross-Border Payment
• Local Payment

Key Players Included in the Report:

• IndiaIdeas.com Limited
• Pine Labs Private Limited
• Paytm
• PayPhi Commerce Private Limited
• In-Solutions Global Limited
• PhonePe Private Limited Merchant payment 3668.59
• Worldline ePayments India Private Limited

Contents

CHAPTER 1. EXECUTIVE SUMMARY

CHAPTER 2. SCOPE OF THE STUDY

2.1. Market Definition
2.2. Market Scope & Segmentation
  2.2.1. Objective of Report

CHAPTER 3. EVOLVE BI METHODOLOGY

3.1. Data Collection & Validation Approach
3.2. Market Size Estimation and Forecast

CHAPTER 4. MARKET INSIGHTS AND TRENDS

4.1. Value Chain Analysis
  4.1.1. Customer Initiation
  4.1.2. Merchant Onboarding
  4.1.3. Transaction Processing
  4.1.4. Settlement
4.2. Porter’s Five Forces Analysis
  4.2.1. Bargaining Power of Buyers
  4.2.2. Bargaining Power of Suppliers
  4.2.3. Threat of New Entrant
  4.2.4. Threat of Substitute
  4.2.5. Industry Rivalry
4.3. COVID-19 Impact and Post COVID Scenario on Online P2M Payment Aggregator Market
  4.3.1. Impact of COVID-19
  4.3.2. Government Support and Industry Revival Policies
  4.3.3. Measures Taken by Companies to Mitigate Negative Impact
  4.3.4. Post COVID Trend

CHAPTER 5. MARKET DYNAMICS

5.1. Introduction
5.2. Drivers
  5.2.1. Surge in E-commerce
  5.2.2. Mobile payment Boom
  5.2.3. Growing Internet Access and Digital Literacy
5.3. Restraints
  5.3.1. Cybersecurity Threats
5.4. Opportunity
  5.4.1. Wider Payment Options

CHAPTER 6. INDIA RETAIL DIGITAL P2M PAYMENT AGGREGATION SERVICES MARKET, BY TYPE

6.1. Introduction
  6.1.1. Cross-Border Payment
  6.1.2. Local Payment

CHAPTER 7. METHODOLOGY ADOPTED TO ESTIMATE THE NUMBER OF ONLINE P2M UPI TRANSACTIONS AS A PERCENTAGE OF P2M UPI TRANSACTIONS.

7.1. Survey Objectives
7.2. Sample Design
7.3. Survey Methodology
7.4. P2M UPI Payment Statistics
  7.4.1. Mumbai
  7.4.2. Delhi (including NCR)
  7.4.3. Kolkata
  7.4.4. Bangalore
  7.4.5. Chennai
  7.4.6. Hyderabad
  7.4.7. Pune
  7.4.8. Ahmedabad
  7.4.9. Jaipur
  7.4.10. Surat
7.5. Outcome

CHAPTER 8. METHODOLOGY ADOPTED TO ESTIMATE THE NUMBER OF P2M IMPS TRANSACTIONS AS A PERCENTAGE OF IMPS TRANSACTIONS

8.1. Survey Objectives
8.2. Sample Design
8.3. Survey Methodology
8.4. P2M IMPS Transaction Vs P2P/M2M IMPS Transaction Statistics
  8.4.1. Mumbai
  8.4.2. Delhi (including NCR)
  8.4.3. Kolkata
  8.4.4. Bangalore
  8.4.5. Chennai
  8.4.6. Hyderabad
  8.4.7. Pune
  8.4.8. Ahmedabad
  8.4.9. Jaipur
  8.4.10. Surat
8.5. Outcome

CHAPTER 9. COMPETITIVE LANDSCAPE

9.1. Competitior Benchmarking 2023
9.2. Market Share Analysis, 2023
9.3. Key Developments Analysis By Top 5 Companies
9.4. Market Share Acquisition Strategies: Analysis of Key Approaches Employed by Top Players

CHAPTER 10. COMPANY PROFILES

10.1. IndiaIdeas.com Limited
  10.1.1. Business Overview
  10.1.2. Financial Analysis
  10.1.3. Product Portfolio
  10.1.4. SWOT Analysis
10.2. Pine Labs Private Limited
  10.2.1. Business Overview
  10.2.2. Financial Analysis
  10.2.3. Product Portfolio
  10.2.4. Recent Development and Strategies Adopted
  10.2.5. SWOT Analysis
10.3. Paytm
  10.3.1. Business Overview
  10.3.2. Financial Analysis
  10.3.3. Product Portfolio
  10.3.4. Recent Development and Strategies Adopted
  10.3.5. SWOT Analysis
10.4. PayPhi Commerce Private Limited
  10.4.1. Business Overview
  10.4.2. Product Portfolio
  10.4.3. Recent Development and Strategies Adopted
10.5. In-Solutions Global Limited
  10.5.1. Business Overview
  10.5.2. Product Portfolio
10.6. PhonePe Private Limited
  10.6.1. Business Overview
  10.6.2. Product Portfolio
  10.6.3. Recent Development and Strategies Adopted
  10.6.4. SWOT Analysis
10.7. Worldline ePayments India Private Limited
  10.7.1. Business Overview
  10.7.2. Financial Analysis
  10.7.3. Product Portfolio
  10.7.4. Recent Development and Strategies Adopted
  10.7.5. SWOT Analysis