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Payment system report 2024
January 30 , 2025
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- The UPI in India’s digital payments has surged from 34 per cent in 2019 to an impressive 83 per cent in 2024.
- It witnessed a compound annual growth rate (CAGR) of 74 per cent over the last five years.
- The other payment systems like RTGS, NEFT, IMPS, credit cards, debit cards, etc., in digital payments volume declined from 66 per cent to 17 per cent during the same period.
- The total value of transactions surged from ₹5.86 lakh crore in 2018 to ₹246.83 lakh crore in 2024.
- In 2024 alone, India recorded 208.5 billion digital payment transactions.
- The UPI Lite, recorded 2.04 million transactions daily, valued at ₹20.02 crore in December 2024.
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