Digital Transactions Total 131Lakh Crore In Q1: Worldline India
- ByStartupStory | June 10, 2021
From January to March, Digital transactions in the country stood at Rs. 131 lakhs in crore in value terms and 93.7 crores in volume terms, Worldline India said on Thursday.89.8 total number of debit cards at the end of Q1 CY21 while credit cards totaled at 6.2 crores. The point-of-sale terminals were 47.2 lakh.
Furthermore, the volume of credit card transactions stood at 52.4 crores and their value stood at Rs 1.97 lakh crore. On the other hand, the volume of debit card transactions was 110 crores while the value stood at Rs 1.91 lakh crore. However, the total number of mobile payments is 832 crores with a value of Rs. 31.9 lakh crore. Of these 113 crore transactions of mobile wallets have been done with a value of Rs. 41,175 crores.
“This clearly indicates the growing confidence among consumers towards digital payments not only in tier one and two cities but also in tier three and beyond,” said Deepak Chandnani, Managing Director of Worldline South Asia and the Middle East.
Unified Payments Interface (UPI) witnessed around 273 crore transactions in March and breached Rs 5 lakh crore in terms of value.The Reserve Bank of India (RBI) in its annual report 2020-21 said digital payment systems recorded a massive growth of 26.2 percent in terms of volume on top of the expansion of 44.2 percent in the previous year. “Although the restrictions on the movement of people and persistent lockdowns may have compelled people to adopt digital payment modes, the convenience, transparency, and security of digital payments will ensure customer stickiness in the years to come.”
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