India topped the list of the top five countries for digital payments in 2022 with 89.5 million transactions making 46% of all real-time payments globally.
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According to government data, India topped the list of the top five countries for digital payments in 2022 with 89.5 million transactions.
India has set new standards in digital payments, both in terms of value and volume, according to comments made by RBI experts that were published by the news agency ANI. The robustness of India’s financial ecosystem and the country’s acceptance of digital are both shown by this, say the experts.
To go by research, India accounted for 46% of all real-time payments made globally in 2022. Furthermore, India’s total value of digital payment transactions exceeds the sum of those of the other four major economies. This demonstrates India’s hegemonic status in the world of digital payments.
“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,” Prime Minister Narendra Modi said.
Brazil, with 29.2 million transactions, is second on the list, followed by China, with 17.6 million transactions.
Thailand ranks third with 16.5 million digital transactions, followed by South Korea with 8 million, according to data from MyGov.
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