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Cashless to Overtake Cash Transactions by 2023, Says Report
April 11, 2019
A new report says that by 2020, 50% of Internet users will be using digital payments and 40% of these transactions will be accounted for by Tier 2 and 3 businesses and consumers.
The report titled “The Era of Rising Fintech” by payments solutions company Razorpay said that up to 15% of India’s GDP will be flowing via digital payments by 2020. It also said that cashless transactions are expected to overtake cash transactions by 2023.
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