One of the fastest-growing FinTech markets globally, India ranks the highest in the FinTech adaptation rate amounting to 87%, which is significantly higher than the global average rate of 64%.
The Indian Fintech market is presently estimated at 31 billion dollars and is predicted to expand at a CAGR of 22% to 84 billion dollars by 2025. At a CAGR of 20%, the value of Fintech transactions is expected to increase from US$ 66 billion in 2019 to US$ 138 billion in 2023.
As of May 2021, 224 banks had signed up for India's United Payments Interface (UPI), which had recorded 2.6 billion transactions worth $68 billion, a 15x increase over the same period in 2018. The mobile wallet market in India is expected to develop at a CAGR of 150 percent to reach US$ 4.4 billion by 2022, with mobile wallet transactions going Rs. 32 trillion (USD$ 492.6 billion) within the same period.
The rapid growth of Indian FinTech markets can be attributed to the following:
CAGR of Fintech market size in 2025
Growth in the number of deals from 2019-2020 H1 compared to 2018
CAGR in growth in digital payments transactions from FY18-20
Highest expected RoI on Fintech projects globally
Highest FinTech adoption rate globally
More than $10 Billion in funding from in the last 5 years
3rd largest FinTech ecosystem globally
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