The Indian eCommerce/payments market is one of the most lucrative and untapped growth markets in the world.
India has an internet users base of about 475 million as of the end of year 2018. This is approximately 40% of its population. India adds another 6 million new ecommerce users every single month. The
eCommerce market in India will touch USD 84 billion in 2021 from USD 24 billion in 2018 on account of healthy growth.
However, despite having the second-largest ecommerce client base in the world, lagging only behind China, the penetration of eCommerce is very low compared to markets like Western Europe and North America. This presents an opportunity for operators, platforms and merchants.
The ecommerce industry suffers from having inaccessible local payment solutions for outsiders trying to capitalise on the Indian market. Typically working with Indian cultural nuances and un-western business practices can at best be frustrating, at worst, impossible for merchants to manage.
RupeePayments aims to provide this bridge between merchant operator and client by offering payment solutions which are tried and tested in India.
From the pie chart below from 2018, its clear to see that COD/POD is the most popular method in India, followed by cards and NetBanking. RupeePayments offers the top 4 most popular options available in India currently, being a market leader in ecommerce payment methods in India for overseas merchants entering India.