16-July-2024
Banking
 
India's retail digital payments set to double to $7 trn by 2030: Report
15-Jul-2024

With digital adoption fast gaining currency, India is likely to see retail digital payments double to $ 7 trillion by 2030 from current levels, a study by Kearney and Amazon Pay said. In the report 'How Urban India Pays', Kearney-Amazon Pay said strong adoption of digital payments in online purchases has potentially led to a permanent shift in consumer behaviours, fueling offline adoption as well. While 90 per cent of the respondents of the survey preferred digital payments when making online purchases, affluent consumers lead the way with the highest Degree of Digital Payment Usage (DDPU), tending to use various modes of digital payment for 80 per cent of their transactions.

News Source:- https://www.business-standard.com/finance/news/india-s-retail-digital-payments-set-to-double-to-7-billion-by-2030-report-124071400236_1.html