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India

Mobile Commerce Clusters

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Mobile Commerce Clusters
Measures partnerships among banks, mobile networks, and governments.
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Environment

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Environment
Measures economic, technological, and demographic factors within a market.
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Infrastructure

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Infrastructure
Measures the sophistication and penetration of the mobile phone industry and NFC terminalization.
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31.5

Consumer Readiness

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Consumer Readiness
Measures how familiar with, how willing to use, and how frequently consumers are currently using all three types of mobile payments.
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Financial Services

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Financial Services
Measures the effectiveness and penetration of consumer financial products.
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Regulation

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Regulation
Measures legal and regulatory structures and how they affect businesses.
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Summary

On the MasterCard Mobile Payments Readiness Index, India achieved a score of 31.5, driven by high scores in the Infrastructure component, moderate scores in Financial Services and Consumer Readiness, and lower scores in overall Environment. Consumer Readiness scores are in line with India's overall ranking on the Index–number 21.

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What you need to know:

India's annual investment in telecommunications of $69.7B gives it a leading spot in Infrastructure
Consumers in India have not yet fully embraced mobile payments
14% of Indian consumers are familiar with both P2P and m-commerce transactions, and 10% are familiar with POS transactions

Country Overview

Market Forces

India received high marks for Infrastructure, the second best on the Index, with a high number of mobile phone subscriptions; in addition, India has made considerable investments in telecom over the past few years. Financial Services scores were a bit lower than average, due to the limited number of cards in circulation among Indian consumers. When it comes to Regulation, India is once again middle of the road compared to its global counterparts.

Specifically, India's intellectual property protection scores low, along with the procurement of advanced technology products. India's score is weighed down by its overall Environment, which ranks second to last. India has significantly low household consumption expenditure per capita; the percentage of Indians using the Internet is 7.5 percent compared to an Index average of 52 percent.


Consumer Sentiment

Indian consumers are below average from a consumer readiness perspective. Familiarity with and willingness to use P2P payments is approximately the same. Willingness to use P2P payments tends to skew male, higher income, and between the ages of 18 and 34. There tends to be less familiarity regarding mobile payments at

POS. Those who demonstrate willingness to use mobile payments at POS also tend to be male and have higher income levels. Familiarity with and willingness to use m-commerce is on par with P2P payments; m-commerce also tends to skew male, young, and higher income.

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GLOBAL PERSPECTIVE ON CONSUMER SENTIMENT IN INDIA

Relative to the Index average and leading countries, how do consumers feel about mobile payments?

54% - France
Country Score Index Average Leading Country

MasterCard Conclusion

India's overall readiness for mobile payments falls in the middle of the pack. In order to better position itself for mobile payments, India will need to focus on furthering partnerships between banks and telcos, strengthening its overall environment to be more amenable to mobile payments, and engaging with consumers to highlight the benefits mobile payments can provide in both the short and long term.

31.5
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