Payment methods in India

Payment by card

RuPay is the Indian brand of credit and debit card system of payments, launched by the National Payments Corporation of India.
With local actor:
- RuPay

Payment by bank transfer

Launched in 2015, India’s Unified PaymentInterface (UPI) was among the first to let customers select between phone numbers, account numbers or domain-based aliases(e.g., [email protected]) to identify themselves to receive a payment. UPI is largely used for small ticket payments with 140 million transactions per day and an average transaction size ofUSD24.7 and 50 per cent volume below three dollars
In India, the penetration of smartphones has reached 60.63% in 2021. The outbreak of the COVID-19 pandemic also boosted the growth of neo banks (digital-only) in India.
With local actors such as:
- UPI
- Jupiter
- Fi
- Fyp
- InstantPay
- mool
- Niyo
- Freo
- Payzello
- North Loop
- Fampay

Payment by installment and BNPL

The India BNPL market grew more than637% in 2021. And it is expected to grow from $3-3.5 billion today to $45-50 billion by 2026. There are around a dozen BNPL players inIndia. Even traditional banks are jumping into the BNPL bandwagon.
With local actors such as:
- Capital Float
- Simpl
- Lazypay
- kissht
- Pine Labs
- ePayLater
- KreditBee
- Zest
- Uni
- Flexmoney
- Slice
- Flipkart
- Rupifi
- Mobikwik

Payment by digital wallet and X-Pay

India’s mobile wallet market is growing at an impressive CAGR owing to the increasing number of smartphone users in the country. The India mobile wallet market is estimated to grow at a CAGR of 46.3%, earning revenue of USD 429.2 billion by the end of 2027.
With local actors such as:
- Jio Payments
- Oxigen
- PayZapp
- ItzCash
- YesBank
- dhani
- Mobikwik
- PayTm
- PhonePe

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