GITNUX MARKETDATA REPORT 2024

Digital Transactions In India Statistics [Fresh Research]

With sources from: bloomberg.com, financialexpress.com, economictimes.indiatimes.com, livemint.com and many more

In this post, we will explore the dynamic landscape of digital transactions in India by analyzing key statistics that highlight the significant growth and trends observed in the sector. From the surge in mobile transactions to the expansion of digital wallets and the increasing adoption of various payment methods, the data paints a vivid picture of the country’s evolving digital economy. Let’s dive into the numbers to understand the changing payment behavior and preferences shaping India’s digital transaction ecosystem.

Statistic 1

"72% of India’s online transactions were through mobile devices in 2021."

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Statistic 2

"Digital wallets experienced a 50% growth in transactions in 2021 compared to 2020."

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Statistic 3

"Rural India saw a 40% increase in digital transactions in 2021."

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Statistic 4

"Digital transactions in India surged by 33% in 2021 over the previous year."

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Statistic 5

"The UPI volume processed in 2021 was greater than all the cards combined."

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Statistic 6

"Contactless card payments constituted 15% of total card transactions in 2021."

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Statistic 7

"The number of Point of Sale (PoS) terminals in India crossed 5 million in 2020."

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Statistic 8

"Unified Payments Interface (UPI) transactions crossed 4 billion in October 2021."

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Statistic 9

"India's digital payment market is expected to grow at a CAGR of 27% from 2020 to 2025."

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Statistic 10

"Over 31 banks and 25 prepaid payment issuers are involved in digital transactions via UPI."

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Statistic 11

"E-commerce transactions accounted for 30% of the total digital transactions in 2021."

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Statistic 12

"Mobile banking apps saw a 30% rise in user base in 2021."

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Statistic 13

"Digital payment fraud reported a 15% decline in 2021 compared to 2020."

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Statistic 14

"Digital bill payments recorded a 20% year-on-year increase in 2021."

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Statistic 15

"65% of SMEs in India adopted digital payments by the end of 2020."

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Statistic 16

"QR code-based payments in India grew by 25% in 2021."

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Statistic 17

"Around 50% of all retail transactions in India were digital by the end of 2020."

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Statistic 18

"Over 90% of daily transactions on UPI are less than INR 2,000."

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Statistic 19

"The average value per digital transaction in India was around INR 1,500 in 2021."

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Statistic 20

"The value of digital transactions in India reached INR 4 trillion in 2021."

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Interpretation

In conclusion, the landscape of digital transactions in India is rapidly evolving, with mobile devices emerging as the preferred medium for online transactions. The growth of digital wallets, the surge in rural digital transactions, and the significant increase in UPI transactions are indicative of the country's shift towards a cashless economy. With the increasing adoption of digital payments by SMEs, the rise in QR code-based payments, and the declining digital payment fraud rate, India's digital payment market is anticipated to continue its robust growth trajectory. The data highlights the transformative impact of digital transactions on the Indian economy, with the value of transactions reaching an impressive INR 4 trillion in 2021.

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