India is world's fastest growing mobile payments market

Proximity payments in India grew by 75% in 2017

India is now the fastest growing mobile payments market in the world, according to research by eMarketer. The report relates to proximity mobile payments, where a user pays for an item at the point of sale by placing their mobile phone against a scanner. The number of proximity payments in India grew by around 75% between 2016 and 2017, jumping from 32 million to 56 million payments. This figure is expected to rise to 78 million payments this year, representing almost 30% of Indian smartphone users. The rapid adoption rate means that India has now overtaken China as the country with the fastest growing mobile payments market worldwide. 

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