How big is the India Payment Gateway Market?

The India Payment Gateway Market size is expected to reach USD 1.21 billion in 2024 and grow at a CAGR of 17.16% to reach USD 2.66 billion by 2029. Read More

What is the current India Payment Gateway Market size?

In 2024, the India Payment Gateway Market size is expected to reach USD 1.21 billion. Read More

Who are the key players in India Payment Gateway Market?

PayU, Paytm, Razorpay Software Private Limited, PayPal India Private Limited and CCAvenue are the major companies operating in the India Payment Gateway Market. Read More

What years does this India Payment Gateway Market cover, and what was the market size in 2023?

In 2023, the India Payment Gateway Market size was estimated at USD 1.03 billion. The report covers the India Payment Gateway Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the India Payment Gateway Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029. Read More

What are the key factors driving the India Payment Gateways growth?

Key factors driving the India Payment Gateways Market are: a) Surge in online shopping b) Government policies promoting digital payments c) Increasing penetration of smartphones and internet Read More

India Payment Gateway Market - Share & Industry Statistics

India Payment Gateway Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)

The payment gateway market in India is witnessing a boom due to increased internet usage and growing awareness of online transactions. The integration of payment processors is now vital for businesses, facilitating secure transactions through customers' preferred banks. The 'Digital India' initiative has spurred the adoption of transaction platforms and services, though digital infrastructure needs strengthening in smaller cities and rural areas. The competitive market includes players like PayU, Paytm, Razorpay, PayPal India, and CCAvenue, who are expanding their market share through strategic partnerships, investments, and product launches.

India Payment Gateway Industry Overview

The India Payment Gateway Market is very competitive. The market is highly concentrated due to various small and large players. The major players in the market are PayU, Paytm, Razorpay Software Private Limited, PayPal India Private Limited, CCAvenue, BillDesk, Instamojo Technologies Private Limited, and many more. The companies are increasing the market share by forming multiple partnerships, investing in projects, and launching new products in the market.

March 2022 - Razorpay acquired IZealiant Technologies, a provider of innovative payment solutions for banks. The acquisition enables support banks with excellent tech infrastructure that enhances the payment experience for end-users. Banks are key stakeholders in the payments ecosystem. With the acquisition of IZealiant technologies, both companies can build industry-first solutions for banks to create a world-class payments experience for businesses and customers.
September 2021 - PayU acquired Billdesk, a payment gateway company. This acquisition helped PayU, the payments and fintech business of the company, which operates in more than 20 markets, emerge as the leading online payment provider globally by total payment volume (TPV). The combined entity will have a total of 4 billion transactions annually. The Prosus-backed fintech firm PayU acquired Billdesk when the Indian payments segment saw huge traction in 2021.