India’s Digital Payments Business Reaches Rs 38.3 Lakh Crore

 


Original Content- Business Upside India 

From July to September 2022, India recorded 23.06 billion in digital payments business totalling Rs 38.3 lakh crore in the third quarter of FY23.

Included in this digital payments revolution are money paid through debit and credit cards, Unified Payments Interface (UPI), prepaid payment tools like mobile wallets, and prepaid cards. Over 19.65 billion transactions in total and Rs. 32.5 lakh crore in value were associated with UPI.

Digital Payments Business: What is it?

So, what is digital payments? According to IANS, which cited Worldline India’s third-quarter “Digital Payments Report,” the volume and value of Digital transactions have nearly doubled since last year, with a volume growth of around 88 percent and a value increase of more than 71 percent in Q3 GDP India.

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