India, with 89.5 billion digital transactions in the year 2022, has topped the list of countries in digital payments, according to the latest available data.
Hey, guess what! We ourselves couldn’t fathom the enormity of the number! It is not in millions, but BILLIONS!
— MyGovIndia (@mygovindia) June 10, 2023
India continues to dominate the digital payments space!#9YearsOfTechForGrowth #9YearsOfSeva @GoI_MeitY @AshwiniVaishnaw@Rajeev_GoI @alkesh12sharma @_DigitalIndia pic.twitter.com/XLItsRenSF
Second, on the list is Brazil which amounted to 29.2 billion transactions followed by China with 17.6 billion transactions. On number 4 is Thailand with 16.5 billion digital transactions followed by South Korea with 8 billion worth of transactions, the data from MyGovIndia has stated.
The continuous increase in the number of digital payments in the country is in line with the government’s vision to transform the economy using digital transactions.
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.
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.
(With inputs from ANI)
