NFC-Enabled Smartphones to Drive India's Digital Payments with Over 1.1 Billion Users by 2030

GURGAON, India - July 4, 2025 - PRLog -- The India Near Field Communication (NFC) market is experiencing rapid growth, driven by rising demand for contactless digital payments and smart devices. As of 2024, the country has around 700 million smartphone users and many of them are leveraging NFC-enabled devices for seamless and tap-and-go transactions. The digital payment volumes in the country increased by approximately 40% in 2024, highlighting opportunities for NFC market. The Unified Payments Interface (UPI) system is major contributor of NFC adoption as it integrates with contactless payment platforms.

What's Driving the NFC Market in India?

• The rapid technological advancement in digital payment ecosystem including UPI and digital wallet integration is driving the NFC market. In 2025, UPI processed over 10 billion transactions as NFC-based payments are increasingly integrated into platforms.
• The NFC is transforming country's transportation and infrastructure by providing seamless and cashless travel. As of 2025, the NCMC (National Common Mobility Card) is operational in 19 cities and plans for nationwide expansion. This card allows commuters to use a single card for metro, bus, toll, and parking payments, integrating NFC for seamless travel.
• The rising popularity of wearable technology and IoT integration is creating opportunity for NFC. In 2024, wearable market in India saw 28% growth due to rising demand for fitness trackers and smart watches with NFC chips embedded for contactless payments.

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Market Competition

The India NFC market is highly competitive, with mix of global giants, fintech companies, and domestic players fighting for dominance. The key players leading the landscape includes Samsung Electronics, NXP Semiconductors, and PhonePe. Samsung Electronics has strengthened its position by leveraging extensive smartphone ecosystem to drive NFC adoption. The company is expanding its Samsung pay services which supports UPI and contactless payments across 2 million retail locations as of 2024. NXP Semiconductors is one of the largest suppliers of NFC chips in the world.

Future Outlook

The India NFC market is set to undergo significant transformations through 2030. This growth will be fuelled by digital transformation, rapid market penetration, and growing demand for contactless payment solutions. By 2030, the country is expected to have over 1.1 billion smartphone users with 85% of them being NFC-enabled. The growing demand for digital payment platform will play critical role in NFC market as NFC will help in facilitating high-speed, and secure transactions.

Consultant at Nexdigm In their latest publication "India NFC Market Outlook to 2030 (https://www.nexdigm.com/market-research/report-store/indi...)" believe that businesses should leverage 5G and edge computing for real-time payments and strengthen cybersecurity and consumer trust to gain competitive advantage in India NFC market.