2017 : Expectations on India Payments and a Review of predictions made for 2016.
Review of Expectations for Indian Payments made for 2016, made on 20Dec 2016
1. RUPAY will take a significant market share from VISA/MASTERCARD.- Worked
2.Unified payments interface from NPCI- Faster/Smarter payments. — Happened but a long way to create an impact
3. NFC will struggle to get of the ground -Acceptance challenges.- Remains a challenge
4.Socially Linked money transfers will be hot.Domestic and Cross border. P2P and P2M.- Did not happen
5.MDR will get further regulated. LOWER rates to impact issuer earnings. Impetus for reducing cash in economy.-BIG IMPACT
6.Explosion of Merchant POS DEVICES. Lower cost and more power.- HAPPENING
7.Anticipate some payment frauds in ecommerce.- PLENTY
8. E-commerce will power mobile payments to faster growth. Wallets will lose momentum. — WALLETS GAINED MOMENTUM
9. ATM growth — stagnation to continue. — GROWTH SLOWED
10. Credit cards: Big push for issuance. Growth will comeback with a bang. -ISSUANCE BACK
EXPECTATIONS FOR PAYMENTS IN 2017
- PREPAID WALLETS : SLOW DOWN and FINANCIAL Model will be questioned. There is no money in this business.
- Payment Banks : Slow takeoff : Telco model will mostly likely be a winner.
- PoS Terminals: Hyper Growth
- Credit Cards: Hyper Growth
- NFC : Still in experimentation
- UPI : Will see great adoption
- ATMs: Slow recovery . Re Deployment
- Mobile Payments : Continued growth
- AI will invade payments
- Payment frauds will significantly increase.