market research agencies in mumbai
29 Jul 2024

Payments Landscape in India With A Focus Lens on UPI

payments-landscape-in-india-with-a-focus-lens-on-upi

India has witnessed remarkable growth in digital payments, with transaction volumes soaring at a CAGR of ~55% from FY21 to FY24, while transaction value has increased by 20% during the same period.


Read the complete DealsPulse to discover valuable insights for industry stakeholders and business leaders on the evolving payments market with a special focus on UPI. 


Key insights include:
  • Rise in disposable income among the middle class boosting online spending.
  • Increased card usage post-pandemic, shifting towards digital payments at Point-of-Sale terminals.
  • UPI dominates with a ~70-75% share of total digital payment volumes.
  • Expansion of UPI into international remittances and merchant payments, supported by government and industry initiatives.



payments-landscape-in-india-with-a-focus-lens-on-upi

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