India’s e-commerce market continues its rapid expansion and is forecast to increase 96 percent between 2021 and 2015 to $120 billion (USD), according to a new report released from financial technology leader
The 2022 Global Payments Report by Worldpay from FIS examines current and future payments trends across 41 countries in 5 regions. Regarding 2021, the report found the shift to online continued with 13.9 percent growth in global e-commerce, while the 13.4 percent growth in point-of-sale (POS) transaction value reflects the steady recovery from the impacts of the COVID-19 pandemic.
“The e-commerce industry in India has witnessed strong growth over the last few years and this growth is showing no signs of slowing down,” said Phil Pomford, General Manager APAC, Worldpay Merchant Solutions at FIS. “The COVID-19 pandemic has brought fundamental changes in the way people shop and make their purchase decisions throughout India, and it’s now vital for merchants to provide customers with a hassle-free and convenient shopping experience. Those who offer a compelling value proposition to consumers are well positioned to thrive as India’s e-commerce market continues its dramatic growth.”
The Global Payments Report by Worldpay from FIS offers a snapshot of the payments landscape: globally, by region and in 41 select markets. The report tracks consumer payments when shopping online and at the point of sale, identifies key payment trends including B2B and C2B real-time payments, and projects future scenarios for payment method shares as well as market size.
The statements contained in this release that are not purely historical are forward-looking statements within the meaning of the U.S. federal securities laws. Statements that are not historical facts, including statements about anticipated financial outcomes, market trends and expected outcomes, as well as other statements about our expectations, beliefs, intentions, or strategies regarding the future, or other characterizations of future events or circumstances, are forward-looking statements. These statements relate to future events and involve a number of risks and uncertainties. Actual results, performance or achievement of the Company in light of these market projections could differ materially from those contained in these forward-looking statements.
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