Find More News on Economy Here
The digital payment markets in India are expected to increase triple from the current three trillion dollars to ten trillion dollars in the coming four years, which is by 2026. This was confirmed by the report issued by PhonePe after the collaboration with Boston Consulting Group (BCG), the report was titled ‘Digital Payments in India: A $10 trillion opportunity. The report highlights the growth of India’s digital payments in the last five years. The growth in five years has resulted in aiming those digital payments will aim to constituting two out of three payment transactions by 2026.
Buy Prime Test Series for all Banking, SSC, Insurance & other exams
Key points of the report:
The report says that multiple platforms offer digital payments now, which has disrupted the digital payments ecosystem. It also listed the reasons for the growth of digital payments in India shortly. It includes simplified customer onboarding, increases in consumer awareness, increases in merchant acceptance, infrastructure upgradation, merchants getting access to credit, and growth of untouched regions by setting up financial services marketplaces.
The excitement for IPL 2025 is building as the 10 franchises reveal their player retentions…
India is a vast country in South Asia, the 7th largest by land area. It…
As cities work to reduce pollution and ease traffic, using electric vehicles like buses is…
India and Russia have reached a significant agreement to jointly manufacture the Pantsir air defence…
The Indian Institute of Technology Madras (IIT Madras) is teaming up with the Indian Space…
In a historic 4-3 decision on November 8, 2024, the Supreme Court overturned its 1967…