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India leads in Digital Payments
April 8 , 2021
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- The UK based payments system company ACI recently released a report on digital payments.
- According to this report, India has the highest number of real-time online transactions in 2020.
- The Digital payment market of India is led by Paytm, PhonePe, BharatPe, Pine Labs, etc.
- The UPI (Unified Payment Interface) transaction increased by 18.7% in March 2021 as compared to February 2021.
- In February 2021, the UPI transaction was Rs 4.25 lakh crores.
- And in March 2021, it was Rs 5.05 lakh crores.
- India was ahead of China, US, South Korea, UK, Thailand in number of online transactions.
- According to this report, the share of electronic transactions in India will exceed 50% by 2024.
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