Introduction
The retail business has seen a transformation in recent years, with consumers' buying patterns being redefined and the global ecommerce market experiencing an unparalleled increase. Online retailers' ease of use, accessibility, and wide range of products have contributed to the industry's explosive growth from its modest beginnings in the 1990s to its current trillion-dollar status. Global online retail sales are expected to reach $7 trillion by 2025, a significant impact on global trade, according to Statista.

Here are some top e-commerce growth statistics that highlight the industry's remarkable expansion:

1. Currently, there are a staggering 24 million e-commerce websites worldwide, and this number continues to grow steadily.

2. The concept of "re-commerce" is gaining popularity, with 14.4% of internet users purchasing used or second-hand items online every week.

3. Retail e-commerce sales worldwide exceeded $5.2 trillion in 2021, and this figure is expected to increase by a staggering 56% to over $8.1 trillion by 2026.

4. By 2025, e-commerce is predicted to account for a substantial 24.5% of global retail sales, according to Insider Intelligence.

5. Statista predicts that worldwide e-commerce sales will surpass an impressive $7.4 trillion by 2025.

6. Before making significant purchases, a remarkable 81% of people conduct internet research, emphasizing the importance of e-commerce for informed consumer decisions.

India's ECommerce Revolution
India's e-commerce business is growing at an extraordinary rate; according to the FIS 2023 Global Payments Report, it will be valued at an astounding $150 billion by 2026, up from $83 billion in 2022. This quick growth is caused by a number of factors, including the Unified Payments Interface's (UPI) supremacy and a changing payment landscape.

Changing Payment Landscape
Cash usage for point-of-sale transactions decreased dramatically to 27% in 2022 from 71% in 2019. Account-to-account (A2A) payments in e-commerce, particularly via UPI, increased to $12 billion in 2022, a 53% rise from 2021. Significant growth was also seen in digital wallets, which went from accounting for 5% to 35% of POS value. A2A transaction values are expected to climb by 195% to $36 billion by 2026, according to the Global Payments Report.

UPI Dominance
UPI has become the standard payment method in India, gradually replacing cash for peer to peer transactions. Cash transactions are expected to decrease by 34% by 2026, while digital wallets' transaction value is predicted to rise by 88%.

Transact Bridge: Facilitating Business Expansion into India
In this thriving landscape, Transact Bridge plays a pivotal role in facilitating the entry of global businesses into the Indian ecommerce market. Here's how Transact Bridge benefits both international companies and Indian consumers:

Easy Tax Compliance Handling
Transact Bridge team of experts manages all tax compliance matters, staying updated on tax regulations changes, and ensuring cross-border e-commerce businesses can seamlessly sell their products in India while remaining tax compliant.

Seamless Recurring Payment options
Transact Bridge facilitates the process by allowing recurring payments via cards, UPI, and e-mandates. It also offers SIHUB to international businesses. With one of the greatest success rates in the market, we can guarantee a consistent flow of customers for your SaaS company.

Access to Indian Customers
Global businesses gain access to the vast Indian market, comprising approximately 1.4 billion potential customers, by partnering with Transact Bridge. This opens up significant growth opportunities.

Local Tax Compliance
Navigating India's complex tax regulations is made effortless as Transact Bridge's in-house team of experts handles all aspects of local tax compliance, including filings and ensuring ongoing tax compliance.

Smooth Payment Methods
Transact Bridge provides a range of local payment methods, including UPI, credit cards, and debit cards, ensuring high success rates for one-time. This ease of payment encourages more customers to complete transactions, ultimately boosting sales.

Enhanced Security
Prioritizing transaction security, Transact Bridge is PCI-DSS certified and partners with reputable payment gateways and banks with top-notch security features to minimize failure rates and manage increased payment traffic effectively.

Boost in Sales
With access to a vast customer base and a seamless payment experience, global businesses can significantly increase their sales in India. The integration of UPI and other payment methods reduces post-checkout drop-off rates, translating leads into loyal customers.

Customer Experience
Transact Bridge focuses on providing the best customer experience, offering a customized checkout page, smooth payment gateway integration, and various local payment options. These features contribute to lower drop-off rates during the payment process and higher customer satisfaction.

Fraud Detection
Employing advanced fraud protection algorithms and risk management systems, Transact Bridge detects and prevents potentially fraudulent transactions, reducing the risk of fraud for its global business partners