Dublin, Nov. 22, 2013 (GLOBE NEWSWIRE) -- Research and Markets
(http://www.researchandmarkets.com/research/rzlttr/mobile_commerce)
has 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 India.
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
http://www.researchandmarkets.com/research/rzlttr/mobile_commerce
Research and Markets
Laura Wood, Senior Manager.
press@researchandmarkets.com
U.S. Fax: 646-607-1907
Fax (outside U.S.): +353-1-481-1716
Sector:
Mobile Content