Market Research Report : E payment solutions market in india 2014 - Press release

FOR IMMEDIATE RELEASE India e-Payment Market Outlook – Role of RBI crucial in shaping growth of the sector Netscribes, Inc. launches a report on the e-Payment Solutions Market in India 2014 covering a market with strong growth potential. It is a part of Netscribes’ Retail and Services Industry Series.

Mumbai, India – October 16, 2014 – Global market intelligence firm, Netscribes, Inc. released its latest report on the ‘e-Payment Solutions Market in India 2014’. With India being termed as a cash-based economy and aided by the recent focus by government on digital payments, strong growth is expected by the e-payment solutions market in the country. Substantial number of customers is seen getting registered for internet banking facility and there has been a considerable increase in the usage reflected in funds transfer through National Electronic Fund Transfer (NEFT) and Real Time Gross Settlement (RTGS). In a similar context, mobile payment solutions, a subset of e-payment solutions, is also witnessing profound growth and is poised to grow in future. However, contradictions still loom large riding on the fact that e-payment solution has not quite taken off as the preferred mode of transaction completely.

Netscribes’ latest market research report titled e-Payment Market in India 2014 states that payments through credit and debit cards have risen due to rising consumer awareness and internet penetration.

Additionally, the Reserve bank of India has also been playing a catalytic role through policy and other regulatory framework to foster greater adoption of such payment solutions. Though driving factors such as growth in e-commerce, increasing internet penetration, adoption of mobile devices, cost saving factor compared to printing notes, ease of transaction and soaring use by government have facilitated growth of the sector, challenges like security issues and lack of awareness and low service quality have implemented a steady growth of the same.

For more details on the content of each report and ordering information please contact: Phone: +91 22 4098 7600 E-Mail: info@netscribes.com About Netscribes Netscribes (www.netscribes.com ) is a pioneering knowledge consulting and solutions firm with clientele across the globe. The company’s expertise spans areas of investment & business research, business & corporate intelligence, publishing services and customized knowledge database creation. At its core lies a true value proposition that draws upon a vast knowledge base.

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