One of the key requirements for long-term growth and faster adoption of Fintech solutions at last-mile touch points in the country is the customers trust over digital payment modes.
Cash is still projected to hold a significant share in India payment services market in future owing to ease of use and less change in consumer behavior.
The growth of E-commerce in India coupled with the country's immense potential provides lucrative opportunities for retailers and merchants who can support India's digital payment methods.
Government initiatives towards achieving financial inclusion in India have brought the country's citizens under the digital payments landscape. As a result of which, people have started opting for financial services, retail shopping, travel and others via online payment methods and will continue to do the same over long term. In accordance with the Internet and Mobile Association of India (IAMAI), the total number of internet users in India is estimated to reach around 450-465 million over long term. Increasing use of smartphones and other mobile devices will lead to more frequent contact between consumers and merchants, thereby giving driving the demand for mobile payments in near future.
Entrance of E-commerce giants for instance, Flipkart, Amazon, Snapdeal, E-bay and others have given a boost to online shopping in India, thereby providing people with ease in buying products, variety of options and convenient payment methods including m-wallets to make an online purchase. M-wallet services in India are gradually replacing physical cash transactions into digital cash transactions, as consumers are increasingly turning away from cash and card. Besides all these advancements, cash mode is still expected to dominate the entire payment landscape in India.
The report provides a comprehensive analysis of India ATM Managed Services market introduction and genesis, market size by revenue, market ecosystem, value chain analysis. The report covers snapshot on India ATM Cash Management Services market, decision making process for India ATM Management Services Market and tender process applicable. The report provides a competitive landscape of major ATM Managed Services players including Hitachi Payments, AGS Transact, Diebold Systems, Euronet, EPS, Tata Communications Payment Solution, FIS, FSS, Mphasis Payment Managed Services, NCR, and CMS. Companies which are covered in ATM Cash Management practice include CMS InfoSystem, SIS Prosegur, Brink's Arya, Writer Safeguard, Securevalue, Logicash and Radiant Cash.
The report provides a comprehensive analysis of India ATM Cash Management Services market introduction and genesis, market size by revenue and working model. The report provides competitive landscape of major players in India Cash Management Services market such as CMS Info System, SIS Prosegur, Brink's Arya, Writer Safeguard, Securevalue, Logicash and Radiant Cash. The report also covers future projections.
The report provides a comprehensive analysis of the various aspects such as market size, segmentation, trends and developments, government regulations, and future projections of the domestic remittances, remittance through business correspondents, M-wallets and bill payments as key segments of the market. The report provides the market share of the major players in business correspondent and bill payment market and competitive landscape of the key players in all three major segments.
Contact Us: Ankur Gupta, Head Marketing Ken Research Private Limited firstname.lastname@example.org +91-9015378249