London, 13 October 2014 – TechNavio, a global tech-focused research firm has announced the publication of its market research report on the Mobile Wallet Market in India 2014-2018.
Mobile wallets based on NFC technology are a revolutionary trend in the digital payments industry. The Mobile Wallet Market in India has been stimulated by the highly competitive telecom market and the growing adoption of smartphones and value-added services. This has resulted in an unprecedented 140.87 percent CAGR over the forecast period.
About the Report
The latest report by TechNavio focuses on the trend towards mobile e-commerce and the increasing benefits of mobile wallets. These one-stop solutions are not only more secure than real wallets, but also provide freedom from carrying around a real wallet.
The report also highlights the growing awareness and inclination to exploit technology for convenience, which has made people dependent on cellphones and mobile e-commerce. A complete mobile payment ecosystem consists of regulatory authorities, financial institutions, telecom operators, merchants, users and technology providers.
“Though mobile wallets are in the evolutionary phase, many players in the Indian market offer differentiated services. Vendors like Visa, MasterCard, American Express, PayPal, Google, ISIS and Square are focusing more on bringing constant innovation to the product or service offering at affordable prices,” says Faisal Ghaus, Vice President of TechNavio.
Key Information Covered in the Report:
Market segmentation, size and forecast through 2018
Market Growth Drivers:
- Increased Benefits of Mobile Wallets
- For a full detailed list, view our report.
Market Challenges:
- Infrastructure Inadequacies
- For a full detailed list, view our report.
Market Trends:
- Increased Dependency on Cellphones
- For a full detailed list, view our report.
Key Vendors:
- Citrus Payment Solutions Pvt. Ltd.
- One97 Communications Ltd.
- Oxigen Services India Pvt. Ltd.
Other Prominent Vendors:
- Apple
- Livquick
- Mobikwik
https://www.technavio.com/%3Cp%3E%3Ca%20href%3D%22http%3A//www.technavio….
