India Mobile Payment Market Size, Share & Report

India Mobile Payment Market Report by Mode of Transaction (WAP, NFC, SMS, USSD, and Others), Application (Entertainment, Energy and Utilities, Healthcare, Retail, Hospitality and Transportation, and Others), and Region 2025-2033

Report Format: PDF+Excel | Report ID: SR112025A2858

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Market Overview:

The India mobile payment market size reached USD 792.4 Billion in 2024. Looking forward, IMARC Group expects the market to reach USD 4,993.9 Billion by 2033, exhibiting a growth rate (CAGR) of 21.56% during 2025-2033.

Report Attribute	Key Statistics
Base Year	2024
Forecast Years	2025-2033
Historical Years	2019-2024
Market Size in 2024	USD 792.4 Billion
Market Forecast in 2033	USD 4,993.9 Billion
Market Growth Rate (2025-2033)	21.56%

Mobile payment refers to the process of transferring funds in exchange for products or services using a tablet or smartphone and payment instruments, such as a bank account, debit or credit card, gift cards and mobile wallet. As it is secure, convenient and easy-to-use, it is gaining traction over other forms of payments in India.

The rising sales of smartphones, in confluence with the increasing penetration of the internet, represents one of the key factors bolstering the growth of the mobile payment market in India. Moreover, loyalty and incentive programs associated with mobile payment solutions are contributing to the market growth. Apart from this, several companies are collaborating with financial institutions to provide innovative features. For instance, Google is supporting Unified Payment Interface (UPI) services from several Indian banks under its Google Pay app. Furthermore, the thriving e-commerce sector and the increasing utilization of contactless methods for making payments due to the mass outbreak of the coronavirus disease (COVID-19) are anticipated to influence the market growth in the coming years.

Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each sub-segment of the India mobile payment market report, along with forecasts at the country and regional level from 2025-2033. Our report has categorized the market based on mode of transaction and application.

Breakup by Mode of Transaction:

India Mobile Payment Market

WAP
NFC
SMS
USSD
Others

Breakup by Application:

Entertainment
Energy and Utilities
Healthcare
Retail
Hospitality and Transportation
Others

Breakup by Region:

North India
West and Central India
South India
East India

Competitive Landscape:

The competitive landscape of the industry has also been examined along with the profiles of the key players.

Report Coverage:

Report Features	Details
Base Year of the Analysis	2024
Historical Period	2019-2024
Forecast Period	2025-2033
Units	Billion USD
Segment Coverage	Mode of Transaction, Application, Region
Region Covered	North India, West and Central India, South India, East India
Customization Scope	10% Free Customization
Post-Sale Analyst Support	10-12 Weeks
Delivery Format	PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)

Key Questions Answered in This Report

The India mobile payment market was valued at USD 792.4 Billion in 2024.

We expect the India mobile payment market to exhibit a CAGR of 21.56% during 2025-2033.

The growing consumer awareness towards hassle-free transactions, secured payment gateways, and easy mobility offered by mobile payment solutions, is primarily driving the India mobile payment market.

In India, the sudden outbreak of the COVID-19 pandemic has led to the rising consumer inclination from conventional cash-based transaction methods towards digital payment solutions for mitigating the risk of disease transmission upon human interaction.

Based on the mode of transaction, the India mobile payment market has been segmented into WAP, NFC, SMS, USSD, and others. Currently, WAP payment mode holds the majority of the total market share.

Based on the application, the India mobile payment market can be divided into entertainment, energy and utilities, healthcare, retail, hospitality and transportation, and others. Among these, the retail industry exhibits a clear dominance in the market.

On a regional level, the market has been classified into North India, West and Central India, South India, and East India, where North India currently dominates the India mobile payment market.

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