Runa expands into the $8.9 billion gift card market in India’s rapidly growing digital economy

As part of our ongoing global expansion efforts, we're thrilled to announce Runa's launch in India. India is a vibrant country known for its rich cultural heritage and significant global economic influence. Runa is now able to support this exciting market, meeting the needs of India's dynamic consumer base who have shown substantial demand for digital gift card offerings.

What does this mean for you?

With Runa, you can send payouts without the worry of the Indian Rupee volatility and complex regulation— we handle currency conversion so you don’t have to. Prioritize instantly reaching consumers in India and creating digital payout experiences through hundreds of local merchants—including Flipkart, Myntra and BigBasket. 

• Launch your payouts program in India in minutes not months, without paying more. 
• Avoid risk and send payouts in INR without the cross-border complications.
• Delight recipients in India with hundreds of popular merchants.

Runa customers can tap into India's growing gift card market

India boasts the world's fifth-largest GDP, currently at $3.9 trillion and projected to reach $6.4 trillion by 2029. With one of the largest populations globally, India features a thriving e-commerce market and significant growth in the digital gift card sector. This aligns perfectly with the shopping habits of the country's tech-savvy consumers.

• Gift Card Market Growth: India's gift card market is projected to grow at a robust 15.3% CAGR over the next five years, driven by the expansion of e-commerce and the adoption of digital payments. This growth is also supported by the rise in corporate gifting, increasing mobile wallet usage, and a growing consumer preference for online shopping.
• Consumer Preference: Approximately 60-70% of the market is trending toward digital gift cards. This reflects the broader global shift towards digital transactions by the increasing spending in e-commerce and the adoption of mobile payment solutions.
• E-Commerce Leads the Way: India's e-commerce sector has seen remarkable growth, driven by the increasing adoption of smartphones and internet usage leading to a surge in online shopping. With millions of new users coming online each year, the market is expected to continue growing robustly.

Digital payment methods on the rise accounting for a third of India’s GDP

In October 2024, India’s Unified Payments Interface (UPI), instant real-time payment system, achieved a record milestone with 16.58 billion transactions worth approximately US$ 279.4 billion (INR 23.5 trillion) – the highest monthly figures since its 2016 launch. In 2023, India accounted for 46% of all global digital payments, according to ACI Worldwide and Global Data 2023.

The rise of digital payment methods, including the Unified Payments Interface (UPI) and mobile wallets like Paytm and PhonePe, has revolutionized online transactions by making them faster, smoother, and more secure, significantly driving e-commerce adoption.

Access the top merchants in India with Runa

Runa provides exclusive access to India’s top merchants who have been vetted by our team of experts: 

• Shoppers Stop: India's leading destination for fashion, beauty, and home. Shoppers Stop offers something for everyone.
• Myntra: India's largest online fashion platform, offering a diverse range of clothing, footwear, and accessories for men, women, and children from top brands and emerging designers.
• Big Basket: A popular online grocery delivery service in India, offering a wide range of fresh produce, staples, and household items at your doorstep.
• PVR Cinema: India's largest cinema chain, operating a network of state-of-the-art multiplex theaters, providing a premium movie-watching experience.
• Nykaa: A well-known online retailer for cosmetics, beauty and wellness products.

Get started today - Runa customers should speak to their Account Manager to get started. 

Not a Runa customer? Take a tour.