Analysis of Payment Trends in E-Commerce Business in India

Abstract

India is sharpening its customer protections in an effort to regulate its burgeoning e-commerce market and to offer consumers a sophisticated customer experience in line with more developed Western e-commerce markets.Merchants must abide by the new Consumer Protection Act to avoid falling foul of the law.India is widely recognized as one of the most dynamic emerging e-commerce markets.While accounting for only 3 percent of total retail sales in the country, e-commerce is nevertheless already an INR4,299 billion (US$61.1 billion) market.3,4 With 80 percent of the 1.4 billion population yet to make their first online purchase, 5,6 India's growth potential is huge.Major marketplaces Amazon, JioMart and Flipkart are all key platforms competing for market share.Global merchants are attempting to capitalize on India's e-commerce growth story: Walmart made a $1.2 billion investment in Flipkart in 2020, after buying a majority stake in 2018.7 Both urban and rural India are rapidly integrating the internet into everyday life.There are 293 million active internet users in urban India, and approximately 200 million active users in rural India.Growth is driven by rural India, which registered a 35 percent increase in internet users in 2019.8 India is becoming a test bed for international brands to trail innovative e-commerce services.For example, India was the first market for Mastercard's® Identity Check Express, the card brand's new mobile-first 3D secure solution.9 India is a launch market for Instagram's forthcoming TikTok-style video function, Instagram Reels, which will enable brands to work with influencers to market products.10 II. HIGH GROWTH SET TO STABILIZE TO 2023

Cite this work

No public copy is stored for this record, so only the metadata is cited.

Stored only when both papers are in the corpus — 1 citations exist upstream.

Papers that cite the same references — the relational fallback while embeddings are still backfilling.