Payments via mobile wallets in India to outstrip ₹531.8 lakh cr by 2028: GlobalData
Value of mobile wallet transactions in India reached ₹208.25 lakh cr in 2023, with a CAGR of 72.1% between 2019 and 2023
Value of mobile wallet transactions in India reached ₹208.25 lakh cr in 2023, with a CAGR of 72.1% between 2019 and 2023
How the business strategy has moved from traditional models of product-based advantages to more innovative approaches that blend physical and digital assets to solve customer problems.
The primary objective of ‘Pocket UPI’ is to address the tendency of users to overlook minor or recurring expenses when UPI is directly linked to bank accounts.
The measures will minimise concentration risk in the UPI system by having multiple payment app providers, says RBI.
By connecting with UPI, both Sri Lanka and Mauritius will benefit and digital transformation will get a boost, says PM Modi.
Google Pay users will be able to make payments to foreign merchants via G-pay while travelling abroad.
In the current fiscal year up to December 11, 2023, UPI has already achieved an impressive 8,572 crore transactions.
India Finance Report 2023 by CAFRAL under the RBI shows how UPI has changed the digital payments landscape in India
PhonePe's revenue growth was driven by the launch and scale-up of new products.
UPI transaction value increased from ₹8.3 lakh crore in January 2022 to ₹14.7 lakh crore in June 2023.