Instamojo Payment Gateway: Payment Methods

India's mobile gaming industry is experiencing rapid growth: the country now has more than 940 million smartphone users and 4G network coverage is expanding rapidly. At the same time, Prime Minister Narendra Modi has been a vocal advocate for the robust development of mobile internet technology and is friendly to foreign investment.

In India, less than 20 million people have credit cards, which means that 99% of the population does not have access to payment services like Google Play or PayPal. However, with a backdrop of 600 million mobile users, mobile payments have become one of the main payment methods for Indians.Fortumo's mobile payment solution works across platforms, for desktop computers, mobile web browsers and HTML5 apps. In-app payments are particularly convenient on devices running Android, Windows Phone and Windows 8.

Online banking transactions are also common in India. The past few years have seen a surge in the number of card transactions, accompanied by a number of security issues. While online fraud is not uncommon in India, some major local banks have stepped up security measures. Among all bank cards, the usage of Indian bank cards such as SBI Card is higher.

Currently, in addition to the major payment methods mentioned above, India is also promoting cardless payment systems and establishing more and more virtual currency trading platforms and systems. Digital wallets and prepaid cards are also gaining popularity, such as Money Online, MoneyGram, PayPal, etc.

Internal data from a company that develops Android mobile games in India shows that the average revenue (ARPPU) for paying users is $2. Therefore, the key thing is to maximise the life cycle value (LTV) of the user, which means retaining the user for as long as possible, ideally 4-6 months, to ensure that the cost of user acquisition is recovered.

In India, mobile payments remain a major challenge due to low credit card penetration. While operators can help developers with bill processing, the revenue-sharing model is often prohibitive, usually with a 9:1 split - operators keep 901 TP3T and content providers get only 101 TP3T.

Similar to the Chinese market, the Android smartphone market in India is highly fragmented. Local OEMs have produced a large number of affordable devices that have captured significant market share. On the positive side, in-app advertising is quite popular in India and has become an effective revenue generator for developers. Certain operators, such as Vodafone India, have introduced more favourable 6:4 revenue share models for developers.

Local payment methods in Russia include Qiwi, WebMoney and Yandex.Money.