India’s digital payments to grow threefold from 159 bn to 481 bn by FY29: PwC re
6 months, 3 weeks ago

India’s digital payments to grow threefold from 159 bn to 481 bn by FY29: PwC re

Live Mint  

- India's digital payments industry is witnessing a huge surge, with transaction volumes growing by 42 per cent year-on-year in FY 2023-24, according to a new report by PwC. In FY 2023-24, UPI saw an impressive 57 per cent YoY growth in transaction volume, surpassing 131 billion transactions. Growth trends The report estimates that by FY 2028-29, UPI transactions could reach 439 billion, making up a staggering 91 per cent of India's retail digital payment transactions. In FY23 alone, UPI accounted for over 75 per cent of the total transaction volume, reinforcing its pivotal role in the digital payments landscape.

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