Market Share of India Mobile Payments Industry
The Indian payment market is moderately competitive owing to the presence of multiple players. The players in the market are adopting strategies like product innovation, mergers, and acquisitions to expand their product portfolio, expand their geographic reach, and primarily stay competitive in the market.
In September 2023, PayU, a prominent online payment solutions provider in India, partnered with WhatsApp to offer native and seamless online payment experiences for companies using the WhatsApp Business platform. Businesses can currently offer clients 150+ payment choices, including cards, UPI, and net banking, all within the WhatsApp platform without needing redirection by using PayU's Checkout experience. This feature is now available to all PayU merchants with WhatsApp integration without charging additional setup or maintenance costs.
India Mobile Payments Market Leaders
PhonePe
Alphabet Inc. (Google Pay.)
Amazon Payments, Inc. (Amazon Pay)
ICICI Bank Limited (ICICI Pockets)
PayTm Payments Bank Limited
*Disclaimer: Major Players sorted in no particular order
