Juniper Research has recognized two payment facilitators for their contributions to the industry in its 2017 Future Digital Awards for Commerce & Fintech.

The annual awards recognize companies “at the forefront of new developments” in their categories, the research firm said.

Indian payment facilitator Paytm won the award for Best Consumer Offering in mobile payments.

“India’s mobile payments marketplace is booming in large part because Paytm has developed and deployed an easy to use, easy to fund service which encourages and enables mCommerce. It has proved immensely popular – it has now achieved over 180 million registered users – while transaction volumes have soared,” the judges’ comments said.

In the Best Fintech Innovation category, payment facilitator Adyen won the award for its payments platform.

“In payments, the ability to enable payments anywhere, any time is increasingly critical. Adyen’s end-to-end service streamlines the payments process for merchants, obviating any need for third-party involvement,” the judges’ comments said.

“Meanwhile, its RevenueAccelerate tool suite has the potential to become a key mechanism in reducing card rejection rates and improving efficiencies. The company has become a major disruptive force in the payments sphere.”

A panel of judges chose the winners based on criteria including product features and benefits, innovation and potential future business development, Juniper said.

Juniper Research is a U.K.-based research and consulting firm.