Market Share of India Payment Gateway Industry
The India Payment Gateway Market is very competitive. The market is highly concentrated due to various small and large players. The major players in the market are PayU, Paytm, Razorpay Software Private Limited, PayPal India Private Limited, CCAvenue, BillDesk, Instamojo Technologies Private Limited, and many more. The companies are increasing the market share by forming multiple partnerships, investing in projects, and launching new products in the market.
- March 2022 - Razorpay acquired IZealiant Technologies, a provider of innovative payment solutions for banks. The acquisition enables support banks with excellent tech infrastructure that enhances the payment experience for end-users. Banks are key stakeholders in the payments ecosystem. With the acquisition of IZealiant technologies, both companies can build industry-first solutions for banks to create a world-class payments experience for businesses and customers.
- September 2021 - PayU acquired Billdesk, a payment gateway company. This acquisition helped PayU, the payments and fintech business of the company, which operates in more than 20 markets, emerge as the leading online payment provider globally by total payment volume (TPV). The combined entity will have a total of 4 billion transactions annually. The Prosus-backed fintech firm PayU acquired Billdesk when the Indian payments segment saw huge traction in 2021.
India Payment Gateway Market Leaders
PayU
Paytm
Razorpay Software Private Limited
PayPal India Private Limited
CCAvenue
*Disclaimer: Major Players sorted in no particular order
FAQs
India Payment Gateway market is segmented by type, enterprise, end user, and region. Based on type, the market is classified into hosted and non-hosted. Hosted dominated the market in 2023 with a market share of 65.1% and is expected to keep its dominance during the forecast period 2024-2033.
What is the percentage of payment gateway charges in India? ›
Are the payment gateway charges deducted on a per transaction basis? Yes, 2% of the transaction rate will be charged once the payment is made.
What is the failure rate of payment gateway in India? ›
Banks servers are the primary reason for the payment failure as payments gateways have to maintain connection with each and every bank. Due to network issues and bad internet connection. This is one of the big reason why the failure rate is above 10%.
What is the market share of BillDesk payment gateway? ›
According to industry estimates, BillDesk enjoys a 25-30 percent market share in the online payment aggregator space, followed by Razorpay at 15-20 percent. PayU is the third largest player with a share of 10-15 percent, according to estimates.
Who is the market leader in payment gateway? ›
Market share of online payment processing software on web domains worldwide 2024. In August 2024, PayPal continued to dominate the market for online payment processing technologies worldwide, holding a market share of 45 percent. Coming in second place was Stripe with a market share of approximately 17 percent.
What is the market share of Razorpay in India? ›
What is Razorpay market share in the banking? Razorpay has market share of 42.46% in banking market. Razorpay competes with 80 competitor tools in banking category. The top alternatives for Razorpay banking tool are Oracle Financial Services with 11.38%, Temenos with 6.99%, NCR with 5.49% market share.
Which is the No 1 payment gateway in India? ›
Most Indian customers prefer Paytm over PayPal. Both allow you to accept INR payments. While PayPal charges 2.5% for every transaction, Paytm charges you 2%. Which is the cheapest payment gateway?
Which is better, Razorpay or PayU? ›
In the Payments Processing market, Razorpay has a 2.03% market share in comparison to PayU's 0.24%. Since it has a better market share coverage, Razorpay holds the 7th spot in 6sense's Market Share Ranking Index for the Payments Processing category, while PayU holds the 28th spot.
What is a success rate in payment gateway? ›
Payment Success Rate is a metric that measures the percentage of successful transactions completed without any issues or failures. It is commonly used in various industries, particularly in e-commerce, finance, and online payment processing, to evaluate the effectiveness and reliability of transactional processes.
What is the future of payment gateway in India? ›
Trend News Research estimates the Global India Payment Gateway Market Size to reach USD 4012 million by 2022, from USD 1632 million in 2023. The India Payment Gateway industry would expand 10.5% from 2024 to 2032.
Customization: Less control over the checkout experience compared to self-hosted options. Fees: Gateway providers may charge transaction fees. Redirection: Customers leave your website during checkout, potentially impacting brand continuity.
What is the market share of PayU payment gateway? ›
PayU has market share of 0.24% in payments-processing market. PayU competes with 210 competitor tools in payments-processing category. The top alternatives for PayU payments-processing tool are Shopify Pay with 60.99%, Klarna with 7.23%, CardinalCommerce with 4.49% market share.
What is the market share of payment solutions? ›
The global payment processing solutions market size was valued at USD 48.60 billion in 2019 and is projected to reach USD 116.17 billion by 2027 and further expand to USD 180.84 billion by 2031, exhibiting a CAGR of 11.7%. North America dominated the global market with a share of 35.1% in 2019.
How big is the online payments market in India? ›
Total transaction value in the Digital Payments market is projected to reach US$254.60bn in 2024. Total transaction value is expected to show an annual growth rate (CAGR 2024-2028) of 11.56% resulting in a projected total amount of US$394.40bn by 2028.
Who is the largest payment processing company? ›
Top 10 Companies in Payment Processing Solutions Market in 2022
- Payment Processing Solutions Market Overview. ...
- Top Leading Companies in the Payment Processing Solutions Market: Top 10 By Revenue. ...
- Google – Revenue [US$256.7 Billion] ...
- Visa Inc. – ...
- PayPal Holdings Inc. – ...
- Mastercard Incorporated – Revenue [US$18.88 Billion]
Over 900 million debit and credit cards mean that plastic dominates the payment landscape. Five major card schemes operate in India, including the locally ubiquitous RuPay. Online banking, direct debits like UPI, and wallets like Paytm are growing in popularity.
How big is the payment processing industry? ›
The global payment processing solutions market size was estimated at USD 47.61 billion in 2022 and is expected to reach USD 54.23 billion in 2023.
