Payment methods in India
Already worth US$81 billion in 2023, the value of the Indian e-commerce market will rise to US$137 billion by 2027.
Market takeaways
- Already worth US$81 billion in 2023, the value of the Indian e-commerce market will rise to US$137 billion by 2027.
- Each year Indians buy more than US$20 billion worth of goods and services from e-commerce merchants in other countries.
- Indians use cards in just 23% of online transactions and cash in only 5%. The remaining 72% they pay for with digital payment methods.
- Indians use mobile devices to complete just under two thirds of all online transactions, making mobile optimization vital for success.
- Popular payment methods in India include PayTM, Amazon Pay, Google Pay and the central bank's UPI payment method.
Population
1.423B
Online population
846.7M
B2C e-commerce
$88B
Banked population
83%
Credit card population
3%
E-commerce of total retail
4%
Payment method breakdown
- Card23%
- Cash5%
- Bank Transfer15%
- E-Wallet50%
- Other7%
Card scheme breakdown
- Visa48%
- Mastercard28%
- American Express1%
- Local schemes22%
- Other0%
Cross-border e-commerce
Cross-border shoppers
0%
Share of e-commerce
29%
Cross-border value (est.)
$21B
Featured payment methods in India
Popular options based on coverage and prominence in this market.
IMPS (Immediate Payment Service)
24x7 instant inter-bank funds-transfer service usable for online payments via bank apps and net banking. Operator: National Payments Corporation of India (NPCI). Est. users: Hundreds of millions of users (2025).
NEFT (National Electronic Funds Transfer)
RBI-operated 24x7 batch electronic funds transfer used widely for online and net-banking payments across India. Operator: Reserve Bank of India (RBI). Est. users: Hundreds of millions of users (2025).
Bharat QR
Interoperable QR standard linking Visa, Mastercard, RuPay and UPI for scan-to-pay at merchants and online. Operator: National Payments Corporation of India (NPCI) / card networks. Est. users: Tens of millions of users (2024).
Amazon Pay
Lets shoppers use their stored Amazon account credentials and payment methods to check out on third-party sites. Operator: Amazon Japan G.K.. Est. users: Tens of millions of users (2024).
UPI (Unified Payments Interface)
Interoperable instant inter-bank payment rail underpinning most of India's retail digital payments, accessible via many consumer apps at online checkout. Operator: National Payments Corporation of India (NPCI). Est. users: 450 million+ users (2025).
BHIM
NPCI's reference UPI app for direct bank-to-bank payments by phone number or QR, usable at online checkouts via UPI. Operator: National Payments Corporation of India (NPCI). Est. users: 128 million+ active users (2025).
All payment methods in India
Discover 15 payment methods from around the world
Featured banks in India
Major institutions operating in this market.
HSBC Holdings
London, United Kingdom
HSBC is one of the world's largest banks by assets, headquartered in London with a dominant presence in Asia. It offers retail, commercial, and investment banking in over 60 countries.
JPMorgan Chase
New York, United States
JPMorgan Chase is the largest US bank and one of the world's largest financial institutions, offering consumer banking, investment banking, commercial banking, and asset management globally.
DBS Bank
Singapore
DBS Bank is Singapore's largest bank and Southeast Asia's leading bank, recognised globally for its digital innovation and strong retail, SME, and corporate banking.
OCBC Bank
Singapore
OCBC Bank is Singapore's second-largest bank, offering retail, commercial, investment, and Islamic banking through Bank OCBC Al-Amin in Malaysia.
HDFC Bank
Mumbai, India
HDFC Bank is India's largest private sector bank by assets, known for its digital banking platform, retail, SME, and corporate banking.
Citigroup (Citi)
New York, United States
Citigroup (Citi) is a global diversified financial services holding company, operating in 160+ countries. It is known for its institutional banking, treasury services, and consumer banking across emerging markets.
All banks in India
Showing 20 of 20 banks
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