Spotlight on India

A world of opportunity for payments and fintech

In India, digital transactions are forecast to overtake cash payments by 2022.

Around 50% of India’s 1.3 billion people are under 30. Over the next decade, over 100 million young digitally savvy Indians will join the country’s workforce and consumer pool. Smartphone penetration will more than double to around 700 million in 2020.

The size of India’s digital payments industry is estimated at US$200bn – US$110bn online and US$90bn offline via card transactions at point of sale. The online portion comprises US$30bn in ecommerce-related payments and some US$80bn in utility bills and recurring payments.

Significant growth in India

India is a great growth story for us. It is our largest and fastest-growing market. We are the leader in ecommerce payments in India and it is the major driver of our growing payment transaction volumes. India is also key to our success in credit, where we have rapidly grown to more than 1 million credit transactions per month. We are looking at growing our franchise and evolving into a digital financial services platform from a pure play online merchants payments service provider.

Opening up a world of credit to people

In line with PayU’s mission to build a world without financial borders, we are pioneering credit for underbanked people in India. Until now, millions of people have not had access to credit, and have been prevented from benefiting fully from the ecommerce revolution. By combining our experience and access to data with smart technology, particularly ML, we have developed state-of-the-art credit underwriting and data-driven credit-decision models that enable us to make credit available where previously it was not.

Our aim is to build the leading credit platform for India – an easy-to-use trusted platform for customers and merchants alike.


In India, we process close to 500 million transactions with a total US$15bn in value