India tops in digital payments, records 89.5 mn transactions, says MyGovInd

  • In 2022, India accounted for 46 per cent of the global real-time payments, adding that the digital payment transactions in India is more than the other four leading countries combined.

Livemint
Published10 Jun 2023, 07:39 PM IST
India has recorded with 89.5 million digital transactions in the year 2022. Photo: Pradeep Gaur/Mint
India has recorded with 89.5 million digital transactions in the year 2022. Photo: Pradeep Gaur/Mint

India global rankings in digital payments for the year 2022, according to data from MyGovIndia.

India has recorded with 89.5 million digital transactions in the year 2022. As per the data, India in the year 2022 accounting for 46 per cent of the global real-time payments, adding that the digital payment transactions in India is more than the other four leading countries combined.

In digital payments, India has been witnessing new milestones, in both value and volume terms, which indicate the robustness of India's payment ecosystem and acceptance, as per RBI experts reported ANI.

“India keeps dominating the digital payment landscape! With innovative solutions and widespread adoption, we're leading the way towards a cashless economy,” tweeted MyGovIndia.

 

Brazil which amounted to 29.2 million transactions was second on the list. It is followed by China with 17.6 million transactions, MyGovIndia data revealed.

On number 4 is Thailand with 16.5 million digital transactions followed by South Korea with 8 million worth of transactions, the data from MyGovIndia has stated.

Earlier this year, Prime Minister Narendra Modi said that India is number one in digital payments and that the country's rural economy is transforming.

"India is number one in digital payments. India is one of the countries where mobile data is the cheapest. Today, the country's rural economy is transforming," the PM said.

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First Published:10 Jun 2023, 07:39 PM IST
HomeNewsIndiaIndia tops in digital payments, records 89.5 mn transactions, says MyGovInd

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