Recently, mobile payment is becoming more and more popular in India, the reporter found that many Indians have begun to use mobile phones to pay utilities, booking tickets, brush two-dimensional code consumption has become a young Indian fashion. With the mobile Internet industry into the fast lane, coupled with the Indian government to vigorously promote some Internet technology giants will look to India this piece of land, have beachhead mobile payment market.
Barcode Reader is quietly changing the consumption habits of India as a whole country. In addition to several large Internet technology companies in China to enter the Indian market, in recent years, India’s largest telecom operators Airtel, e-commerce company Amazon, social networking services, Facebook, India’s local mobile payment service providers Paytm also began to layout, The company occupies half of the country.
“India Times” reported that South Korean technology giant Samsung plans to launch in the first half of this year, Samsung Mobile pay wallet – Samsung pay. Samsung is working with Visa and MasterCard and other credit card companies to cooperate in India. Reported that, with the arrival of Samsung payment, the Indian mobile payment platform more intense competition. Samsung began testing mobile services in India in December 2016, and recently introduced smartphone updates, including Samsung payment applications. However, Samsung payments only serve high-end Samsung smartphones, which limits its coverage.
What are the factors that allow technology giants to look at the Indian mobile payment market, and vigorously support the Barcode Reader module in India’s market share? First, India’s demographic structure is very young. India Tata Society of Social Sciences Professor Paramu Man told this reporter, India, about 2/3 of the population under the age of 35, these people are the main group to buy smart phones, they are mobile payment market potential customer base.
Second, with the transition from the Internet age to the mobile Internet era, most of the Indian users directly into the mobile Internet era, India Internet users 374 million, mobile Internet users also have 324 million, by 2020 the number of mobile Internet users is expected to increase to 550 million. At present, more than 70% of Indians have mobile devices such as laptops, tablets and mobile phones. India’s central bank data show that in March this year, mobile phone transactions paid 1.7 trillion rupees (1 yuan about 9.31 rupees), is the same period in 2016 3 times. India is one of the fastest growing electricity markets in the world, according to statistics, in 2016 India’s mobile payment market value of 206 billion rupees, compared to 2013 to achieve 20 times the growth. After the abolition of large denominations by the Indian government, the online retail market has grown by leaps and bounds.
Third, the Indian government vigorously promoted the “digital India” program. The Indian government hopes to build India into a cashless society in the next 10 to 12 years. The Indian government has also introduced measures such as state payment banks, state mobile wallet and payment service law. In addition, as early as 2008 the Bank of India issued a mobile payment guidelines, clear regulatory issues, technical and safety standards, interoperability requirements and consumer protection measures.
