India tops digital payments rankings globally, shows MyGovIndia data (2024)

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India tops digital payments rankings globally, shows MyGovIndia data

ET OnlineLast Updated: Jun 10, 2023, 11:23:00 AM IST

Synopsis

During the year under review, there were 89.5 million digital transactions in the country. India accounted for 46 per cent of the global real-time payments in 2022, which was more than the combined digital payments the next four top countries.

India tops digital payments rankings globally, shows MyGovIndia data (2)

India has topped the global rankings in digital payments for the year 2022, data from govt's citizen engagement platform MyGovIndia showed on June 10.

During the year under review, there were 89.5 million digital transactions in the country. India accounted for 46 per cent of the global real-time payments in 2022, which was more than the combined digital payments the next four top countries.

India has witnessed new milestones in digital payments, in both value and volume terms, new agency ANI reported citing statements by RBI experts. This shows the robustness of India's payment ecosystem as well as the country's acceptance of the digital, the experts pointed out.

MyGovIndia tweeted to mark the feat, "India keeps dominating the digital payment landscape! With innovative solutions and widespread adoption, we're leading the way towards a cashless economy. #9YearsOfTechForGrowth #9YearsOfSeva@GoI_MeitY@AshwiniVaishnaw@Rajeev_GoI@alkesh12sharma @_DigitalIndia."

— mygovindia (@mygovindia)

Brazil took the second place, with the country clocking 29.2 million digital transactions. China followed at third spot with 17.6 million transactions.

Thailand was number four with 16.5 million transactions. South Korea followed with 8 million transactions, MyGovIndia data revealed.

India is number one in digital payments and that it's transforming the country's rural economy, PM Modi had said earlier this year.

"India is number one in digital payments. India is one of the countries where mobile data is the cheapest. Today, the country's rural economy is transforming," the PM had said.

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India tops digital payments rankings globally, shows MyGovIndia data (2024)

The Economic Times daily newspaper is available online now.

During the year under review, there were 89.5 million digital transactions in the country. India accounted for 46 per cent of the global real-time payments in 2022, which was more than the combined digital payments the next four top countries.

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