The Indian payment market is largely driven by transactions through mobile point of sale terminals and mobile banking and has shown 15 fold growth to reach US$ 1.4 billion in 2015 compared to 2012, according to research reports.
Acknowledging that the mobile payment industry has seen a whopping 147.6% revenue growth in 2014-15 as compared to the previous year, the report by Research and Markets titled, "India Payment Services Industry Outlook to 2019 - Surging Investments in MPOS, mWallet and NFC to Drive Growth"Â said each segment in the mobile payment market has been subjected to a gamut of different factors such as merchant acquisitions, number of units sold and reach amongst customers that play a decisive role in determining respective revenues.
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