Executive Summary
A leading analyst group predicts that “India will climb to be one of the world’s top five generators of non-cash payments by 2017.” In the emerging BRIC (Brazil, Russia, India, and China) markets, cash remains king; but in India, the tide is turning as consumers increasingly conduct electronic payment transactions with either plastic cards or, to a lesser degree, mobile phone-based applications. This market trend is being driven by a population of more than 1.2 billion, 350-400 million of which are part of the burgeoning middle class. This key demographic, growing annually at five percent, is developing a voracious appetite for consumer goods that can be supported through access to basic banking services provided by domestic and foreign financial institutions.
Report on Electronic Payment Systems In India
Download it at the link below : Electronic Payments India 2012 Report PDF
