Disclaimer: This is a user generated content submitted by a member of the WriteUpCafe Community. The views and writings here reflect that of the author and not of WriteUpCafe. If you have any complaints regarding this post kindly report it to us.

Bharat Book Bureau Provides the Trending Market Research Report on “Fintech Market in India 2022-2027” under Services Market Research Report Category. The report offers a collection of superior Market research, Market analysis, competitive intelligence and Market reports.

India Fintech Market, Forecast 2022-2027

Fintech is one of the fastest-growing technology segments driving innovation in various applications including loans, payments, stock trading, and credit scoring. At present, there are 473 fintech unicorns of which 40 were added in Q1 2022. As of August 2022, crypto is now the most invested segment in the fintech market. Crypto startups raised INR 559.58 Bn in Q1 2022, more than any other fintech segment. Moreover, crypto and DeFi funding is also growing faster than other fintech segments such as WealthTech, InsurTech, RegTech etc. (2.4x compared to Q1 2021)

Market insights:
The fintech market was valued at INR 2.48 Trn in FY 2021. It is expected to reach INR 9.27 Trn by FY 2027, expanding at a compound annual growth rate (CAGR) of ~24.96% during the FY 2022 – FY 2027 period. The market witnessed an upsurge in digital payments transactions in FY 2021 and H1 FY 2022. Unified Payment Interface (UPI) is the major driving factor behind this growth, along with credit and debit cards. Also, the number of acceptance points, both, quick response (QR) and physical point of sale (PoS), for digital payments have increased significantly across the country. Moreover, in the wake of the pandemic, the use of digital payment solutions went up by ~40% as compared to pre-COVID era. The increase in the use of digital payment procedures has directed notable growth in the India fintech industry. The latest developments around new umbrella entities (NUEs) to streamline retail payments across the country could prove to be a turning point in the digital payment space.

COVID-19 impact analysis:
The fintech market in the country has benefited from the pandemic. Contactless payments have ballooned in the wake of the pandemic. The Reserve Bank of India (RBI) encouraged contactless card payments and permitted transactions of up to INR 2,000 without two-factor authentication (such as a PIN). In the first half of 2020, fintech start-ups experienced a fall in investments by almost 53%. The companies raised ~INR 263 Bn through at least 102 deals in 2019, whereas the total funding in 2020 was ~INR 124 Bn made through 70 deals.

Browse our full report with Table of Content :
https://www.bharatbook.com/report/1377315/fintech-market-in-india-twentytwo

About Bharat Book Bureau:
Bharat Book is Your One-Stop-Shop with an exhaustive coverage of 4,00,000 reports and insights that includes latest Market Study, Market Trends & Analysis, Forecasts Customized Intelligence, Newsletters and Online Databases. Overall a comprehensive coverage of major industries with a further segmentation of 100+ subsectors.

Contact us at:
Bharat Book Bureau
Tel: +91 22 27810772 / 27810773
Email: poonam@bharatbook.com
Website: www.bharatbook.com

0

Login

Welcome to WriteUpCafe Community

Join our community to engage with fellow bloggers and increase the visibility of your blog.
Join WriteUpCafe