Strategy Note /
India

India’s robust digital payments ecosystem

  • With over 250mn active users, India ranks second for mobile payments. The number of users should rise to 700mn by 2026

  • Online retail, grocery, food delivery and gaming are the key sectors expected to drive growth over the next 5 years

  • Paytm, PhonePe and MobiKwik could be major beneficiaries of the strong growth prospects in Indian digital payments

India’s robust digital payments ecosystem
Rohit Kumar
Rohit Kumar

Global Financials/Thematics

Rahul Shah
Rahul Shah

Head of Financials Equity Research

Tellimer Research
9 December 2021
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