Research and Markets: Mobile Banking and Payments in India to 2017

DUBLIN--()--Research and Markets (http://www.researchandmarkets.com/research/8h26bh/mobile_banking) has announced the addition of the "Mobile Banking and Payments in India to 2017" report to their offering.

The report analyzes the mobile payments market in India. Starting from a small base, India is in the process of leapfrogging many nations in mobile-based transactions. The report discusses the key enablers for mobile payments including mobile subscriber numbers, smartphone forecasts, government initiatives, and household penetration rates of mobile bank accounts. Annual estimates and forecasts are provided for years 2012 through 2017. Companies covered include Vodafone, Bharati Airtel, Ezetap, Money on Mobile, Mobikwik, MSwipe and others. Recommendations are provided

There is currently a high level of financial exclusion across India with many households using only cash for savings and spending. Half of India's population is still unbanked as of August 2014. One of the reasons for this strong cash tradition across the country is cultural. But beyond culture, another hurdle to financial inclusion is India's significant financial infrastructure gap which makes banking extremely inconvenient for many, especially those in very rural areas that have no physical bank branches.

Dispite significant financial gains during the past five years, India's current financial infrastructure has not kept pace. The government realizes this dichotomy is a risk to further expansion that could prevent India from reaching its economic potential.

Indian government officials are eager to address this disparity, realizing that the country's mobile infrastructure and subscriber base has the potential to play an important role, and thus are taking steps to enable mainstream mobile banking and payments. The Reserve Bank of India has mandated that every adult have access to a bank account by 2016. In fact, this goal of 100% financial inclusion is so ambitious; officials realize that it can only be achieved via the use of mobile banking.

The potential surge of mobile-based accounts would be particularly beneficial to the country's millions of rural migrant workers who need to efficiently transfer funds back to their families. In India, where cash is still king, the author expects the initial bulk of mobile payments to be bank transfers rather than commerce-based transactions.

Key Topics Covered:

  1. Executive Summary
  2. Key supporting trends
  3. Introduction
  4. Hurdles to market development
  5. How large is the opportunity?
  6. The developing smartphone market in India.
  7. Key players in the mobile payment market
  8. Market Forecasts
  9. Mobile Payments - Uses
  10. Market Readiness score
  11. Recommendations

Companies Mentioned

  • Bharati Airtel
  • Ezetap
  • MSwipe
  • Mobikwik
  • Money on Mobile
  • Vodafone

For more information visit http://www.researchandmarkets.com/research/8h26bh/mobile_banking

Contacts

Research and Markets
Laura Wood, Senior Manager
press@researchandmarkets.com
For E.S.T Office Hours Call 1-917-300-0470
For U.S./CAN Toll Free Call 1-800-526-8630
For GMT Office Hours Call +353-1-416-8900
U.S. Fax: 646-607-1907
Fax (outside U.S.): +353-1-481-1716
Sector: Banking and Financial Services

Contacts

Research and Markets
Laura Wood, Senior Manager
press@researchandmarkets.com
For E.S.T Office Hours Call 1-917-300-0470
For U.S./CAN Toll Free Call 1-800-526-8630
For GMT Office Hours Call +353-1-416-8900
U.S. Fax: 646-607-1907
Fax (outside U.S.): +353-1-481-1716
Sector: Banking and Financial Services