- India represents one of the largest market opportunities for digital payments.
- Total payments via digital payment instruments will be in the range of US$ 500 billion by 2020.
- The value of transactions for mobile banking grew 30%.
- Total usage of digital solutions shot up by more than 100%.
- The value of card transactions on PoS machines shot up more than 41%.
- A daily transaction through e-wallet services has shot up from 17 lakh to 63 lakh.
- Cash transactions account for 78% of all transactions in the country
- Transactions through RuPay Cards were up 316% at 16 lakh daily.
- Mobile Commerce is estimated to reach $278.9 billion by 2018.
- The average mobile wallet user loads 1.9 cards into their phone’s wallet.
- Total Transaction Value in the “Digital Payments” segment amounts to US$43,831m in 2017.
- Total Transaction Value is expected to show an annual growth rate (CAGR 2017-2021) of 19.5 % resulting in the total amount of US$89,260m in 2021.
- The market’s largest segment is the segment “Digital Commerce” with a total transaction value of US$43,474m in 2017.
- Digital payment users will comprise 50% of all internet users by 2020.
- Mobile QR code and barcode redemption market is estimated to cross $50 billion globally by 2017.
DSIM Editorial Team
The DSIM Editorial Team is a group of passionate digital marketing experts dedicated to providing insightful, high-quality content on the latest trends, strategies, and tools in the digital marketing industry. As part of the Delhi School of Internet Marketing (DSIM), the team focuses on delivering valuable information to help aspiring marketers, entrepreneurs, and business professionals enhance their digital skills. With years of combined experience in SEO, social media, content marketing, and paid advertising, the DSIM Editorial Team ensures that each piece of content is designed to educate and empower readers to succeed in the fast-paced world of digital marketing.
