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Fintech Market in India 2023-2028

  • Report

  • 75 Pages
  • November 2023
  • Region: India
  • Netscribes (India) Pvt Ltd
  • ID: 5671316
Boasting over 9,000 fintech companies, India ranks third globally in terms of the highest number of fintech entities and commands a 14% share of startup funding in the country. Approximately 84% of surveys anticipate a substantial or predominant influence of fintech’s in the future, with respondents identifying SME lending, retail lending, fintech SaaS, and wealth management (including advisory and brokerage services) as the sectors poised for the most significant fintech advancements and innovations.

Market Insights:

The fintech market was valued at INR 3.70 Trn in FY 2023. The market is expected to reach INR 11.36 Trn by FY 2028, expanding at a CAGR of ~24.95% during the FY 2024 - FY 2028 period.

Fintech companies have transformed into pivotal players within the financial services sector, capturing substantial market share in key segments like payment gateways, small-ticket personal loans, and buy now, pay later (BNPL) lending. The sector is swiftly expanding its influence in areas like card issuance, asset management, and insurance distribution, currently constituting 3-5 percent of the overall income in financial services.

Despite these advancements, industry insiders posit that sustained growth for fintech’s hinges on addressing specific challenges. These include the attainment of enduring profitability, the establishment of a business model in compliance with regulations, and the adherence to stringent risk and security standards.

COVID-19 impact analysis:

Future fintech services will be entrusted with making the financial scenario safer, as well as more efficient, accessible, and affordable. To accomplish this, financial service providers have incorporated cutting-edge, contactless payment methods and made them available to consumers. Among these are dynamic QR codes, contactless biometric authentication, and contactless card payment options.

Furthermore, most individuals, especially those in remote regions, are already linked to Aadhaar. In the post-pandemic financial environment, AePS (Aadhar enabled payment system) can play a vital role in enabling the essential paradigm to shift toward a new, critical financial ecosystem.

Table of Contents

Chapter 1: Executive summaryChapter 2: Socio-economic indicators
Chapter 3: Introduction
3.1. Market definition and structure
Chapter 4: Evolution of fintech in India
4.1. Evolution of fintech in India
Chapter 5: Global fintech market
5.1. Global fintech market - An overview
5.2. Global fintech customer experience
5.3. Global position of India fintech market
Chapter 6: India fintech market
6.1. The fintech market - An overview
6.2. Fintech clusters in India
6.3. Fintech hub development opportunities in India
Chapter 7: Fintech market in India - Current landscape
7.1. India’s fintech landscape: Key players
7.2. India’s fintech startup landscape: Subsectors
7.3. Top 10 biggest fintech startup rounds in H1 2023
Chapter 8: Cross border payments
8.1. Cross border payment ecosystem in India
8.2. Fintech Startups Operating in Cross Border
Payments Space
8.3. Investors backing Indian cross border payment startups
Chapter 9: Applications of fintech in India
9.1. Market segmentation - Digital payments
9.1.1. Digital payments segment
9.1.2. Impact assessment of tech innovations on the digital payments segment
9.1.3. Lending segment
9.1.4. WealthTech segment
9.1.5. InsurTech segment
9.1.6. RegTech segment
9.1.7. Key players in the market
Chapter 10: COVID-19 impact analysis
10.1. COVID-19 impact analysis
Chapter 11: Market influencers
11.1. Market drivers
11.2. Market challenges
Chapter 12: Market trends
12.1. Market trends
Chapter 13: Competitive landscape
13.1. ET Money
  • Company information
  • Business description
  • Products/Services
  • Key people
Note: Similar information has been provided for all companies
13.2. Ezetap
13.3. Freecharge Payment Technologies Private Limited
13.4. Mswipe Technologies Private Limited
13.5. One Mobikwik System Private Limited
13.6. One97 Communications Limited
13.7. PhonePe Private Limited
13.8. Pine Labs Private Limited
13.9. PolicyBazaar.com
13.10. PayU Payments Private Limited
Chapter 14: Recent developments
14.1. Recent developments
Chapter 15: Appendix
15.1. Research methodology

Companies Mentioned

  • ET Money
  • Ezetap
  • Freecharge Payment Technologies Private Limited
  • Mswipe Technologies Private Limited
  • One Mobikwik System Private Limited
  • One97 Communications Limited
  • PhonePe Private Limited
  • Pine Labs Private Limited
  • PolicyBazaar.com
  • PayU Payments Private Limited