Digital India to have 2% share of global e-payments

India’s developing digital payments market, which is set apart by inflection points, for example, demonetization and UPI launch 2016 and now coronavirus pandemic, is probably going to have a portion of around 2.2 percent on the planet’s digital payments advertise by 2023, said counseling firm PwC and Payment Council of India in a report.

The development for India’s digital payments has returned on the of numerous retail installment items propelled including Bharat QR, Aadhaar Enabled Payment System (AePS), National Electronic Toll Collection (NETC), Bharat Bill Payment System (BBPS), and Rupay Cards.

The digital payments market worldwide, as indicated by the report named Empowering installments: Digital India on the way of unrest, is probably going to hit $12.4 trillion mark in exchange an incentive by 2025 up from $3.7 trillion in 2019. UPI volume is probably going to develop at 287 percent CAGR from 5.35 billion exchanges in FY19 to 59.77 billion in FY23.