Mobile Commerce Market in India 2012-2016 Features Giants Axis Bank Ltd.,
Vodafone India and PayMate India Pvt. Ltd.
Dublin, Nov. 22, 2013 (GLOBE NEWSWIRE) -- Research and Markets
announced the addition of the "Mobile Commerce Market in India 2012-2016"
report to their offering.
Analysts forecast the Mobile Commerce market in India to grow at a CAGR of
71.06 percent over the period 2012-2016. One of the key factors contributing
to this market growth is the growth in mobile subscriptions. The Mobile
Commerce market in India has also been witnessing government and regulatory
support. However, the data security concerns of end-users could pose a
challenge to the growth of this market.
The key vendors dominating this market space are Bharti Airtel Ltd., mCheck
India Payment Systems Pvt. Ltd., PayMate India Pvt. Ltd., and State Bank of
The other vendors mentioned in the report are Vodafone India, ICICI Bank Ltd.,
HDFC Ltd., CanvasM Technologies Ltd., Netxcell Ltd., Yes Bank Ltd., Bharat
Sanchar Nigam Ltd., Union Bank of India, Obopay Mobile Technology India Pvt.
Ltd., Axis Bank Ltd.
Commenting on the report, an analyst from the telecom team said: ''The Mobile
Commerce market in India is witnessing increasing collaboration between
service providers and banks. Most of the mobile service operators are having
tie-ups with leading banking service providers to provide mobile payment
facilities. For instance, Bharti Airtel and Axis Bank have a partnership for
providing banking services through the Airtel Money platform. Similarly,
Vodafone India has signed agreements with ICICI bank to launch mobile payment
services. Such collaborations and partnerships are expected to grow and will
support the market to grow.''
According to the report, using mobile payment systems, consumers can make
payments without being bound by time and location constraints. With the help
of mobile broadband and Near Field Communication (NFC) or radio-frequency
identifiers (RFID)-enabled mobile devices, payments can be made directly using
a smartphone or indirectly through a credit or debit card. This has made the
payment procedure easier and more convenient for end-users. Mobile commerce
also simplifies banking services and enables the provision of banking services
in rural areas at minimal cost.
For more information visit
Research and Markets
Laura Wood, Senior Manager.
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Fax (outside U.S.): +353-1-481-1716
Sector: Mobile Content
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