India tops world ranking in digital payments with record-breaking transactions: MyGovIndia data

India has topped the list in digital payments, surpassing four other countries, with a staggering 89.5 million transactions recorded in 2022, according to data from MyGovIndia.India in the year 2022 accounted for 46 per cent of the global real-time payments, as per the data. The digital payment transactions in India are more than the other four leading countries combined, it added.Brazil is second on the list which amounted 29.2 million transactions followed by China with 17.6 million transactions. Thailand ranked at number 4 with 16.5 million digital transactions followed by South Korea with 8 million worth of transactions, the data from MyGovIndia has stated.According to the RBI experts, India has been witnessing new milestones, in both value and volume terms in digital payments, which indicate the robustness of India’s payment ecosystem and acceptance.[caption id="attachment_12721282" align="alignnone" width="640"]

Graphics- @mygovindia[/caption]"India keeps dominating the digital payment landscape!  With innovative solutions and widespread adoption, we're leading the way towards a cashless economy.  #9YearsOfTechForGrowth #9YearsOfSeva,"MyGovIndia tweeted.

The Ministry of Electronics and Information Technology (MeitY) has introduced the Incentive Scheme for the promotion of RuPay Debit Cards and low-value BHIM-UPI transactions to promote digital payments for the current financial year.MyGovIndia is a citizen engagement platform of the Government of India, giving people the opportunity to work towards Surajya with their ideas and grass root level of contribution.In April, Prime Minister Narendra Modi said that India is number one in digital payments and that the country’s rural economy is transforming. “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 said.The growth of digital payments in India and the availability of various easy and convenient digital payment solutions have facilitated ease of living for citizens, financial inclusion, and growth of business and economy.Read all the Latest News, Trending News, Cricket News, Bollywood News,India News and Entertainment News here. Follow us on Facebook, Twitter and Instagram.