ValueNotes helps an international payment solution provider tap a USD 350bn opportunity

Our client wanted to assess the opportunities in the cashless payments market in India


Strong competitor activity and reports on the attractiveness of the Indian cashless payments solution market prompted a leading international payments solution provider to evaluate the current and future opportunities in India. The client, being a late entrant in India, wanted to evaluate the market in terms of the opportunities for them. They had got multiple and diverse inputs on the current and future potential of the market.


The client needed to assess the potential of the cashless payments market and understand the impact of factors such as regulations, technologies, player strategies, socio-economic indicators. This was imperative for the client to develop a strategy for the market.


ValueNotes leveraged their expertise and industry networks to uncover ground realities


Certain segments of the cashless payments market were virtually non-existent or in a nascent stage in India. Hence, estimating the potential of these market segments was a key challenge. The impact of regulatory policies and the state of underlying infrastructure was also uncertain. The lack of adequate documentation in the sector further added to the degree of difficulty in analyzing the market.


ValueNotes leveraged its expertise in market sizing studies and extensive networks in the industry to reach out to various stakeholders in the industry. These included key decision makers in competitor organizations, regulators, financial institutions and service providers. Several of the stakeholders and industry experts had conflicting opinions. ValueNotes reached out to a large number of respondents of different types to get a wide range of inputs and perspectives in order to increase the degree of confidence in our findings.


Extensive validations and triangulation exercises were carried out to estimate the market sizes of different segments of the cashless payment market. A deep dive into all the factors (technological, regulatory, competitors, socio-economic) shaping the market was carried out.


Clear road-map for cashless payment market for India


ValueNotes provided the current and future potential of the market by segment, and deep on-the-ground insights on the value chain, players and market shares, key competitors, regulatory developments, technology platforms utilized and factors impacting the environment. The report identified areas of opportunity for the client and those which were not very promising, and the factors shaping each of these. The current market for the client was estimated at USD 80 billion, expected to grow to USD 350 billion by 2015.


Based on the insights provided, the client was able to develop a strategy for the Indian market.

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