India bills payments market stands for recharge of prepaid connection and bill payment of postpaid connection for mobile, DTH, data Card and utility services. This market has grown piggybacking on the growth in the number of subscribers of Mobile, DTH and Data Card services; higher internet / broadband penetration in India especially through the use of wireless devices, increased access to electrical appliances & higher tariff charges resulting in higher spending on electrical bills and; rise in prices cooking gas.
Online bills payment market has showcased high growth trajectory during FY’2010 – FY’2015 and is perceived to have great potential in the e-commerce sector. From a consumer’s perspective it is convenient, easily accessible and time saving, while from the operator’s perspective it is low cost investment as it doesn’t require setting up physical stores.
Mobile wallets have been transforming the digital payments landscape in India which in turn has helped mobile wallet bills payment market grow rapidly. Earlier, mobile wallets were used only for mobile recharges, which have now been extended to data card bill payments, DTH recharge and utility bill payments. However, during 2014-15, the use of mobile wallets surpassed the boundaries of bill payments and expanded its portfolio to include money transfers, e-commerce payments, payments for booking movie tickets, rail tickets with a host of other online bookings and payments.
India mobile bills payment market has witnessed a continuous growth during the period FY’2010 to FY’2015. The increase in transaction volume generated from mobile market can be attributed to the growing number of active mobile phone users, surging middle class, and increase in mobile internet users.
India DTH bills payment market has displayed unprecedented growth in recent years driven by rise in number of TV viewing households and increase in personal disposable income of the consumers. DTH system involves setting up of a personal dish antenna at homes and receiving broadcast straight from the satellite.
India data card market has shown huge growth trajectory since last few years and has grown at a CAGR of 46.6% during FY’2010-FY’2015.
India Utility Bills Payment Market includes consumption of electricity and gas by households. This was primarily caused by increase in production of electricity in India; increased penetration of electrical appliances leading to higher consumption of electricity; increased tariff of electricity; and increased prices of cooking gas.
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