Bengaluru leads country in digital payment transactions
The Hindu
Between January and October this year, Bengaluru saw 14.82 million such transactions valued at ₹3,620 crore
Netizens in the tech capital of India have made 14.82 million digital payment transactions in the January to October 2022 period, the highest in the country, amounting to ₹3,620 crore, according to a study put out by Worldline India, a payment technology player.
Hyderabad accounted for 10.36 million digital payment transactions amounting to over ₹3,050 crore and Chennai 9.76 million at ₹2,250 crore. The country’s financial capital, Mumbai saw 9.4 million people carrying out digital payment transactions amounting to ₹2,740 crore and Pune with 7.88 million transactions clocked ₹1,730 crore.
The 10-month period under consideration, saw frequently visited physical merchant categories like grocery stores, restaurants, clothing and apparel, pharmacy, hotels, jewellery retail, speciality retail, household appliances, and departmental stores while in the online-space category wise, e-commerce (shopping for goods and services), gaming, utility and financial services together accounted for over 86% in terms of volume, according to the survey.
Festive season sales, and a rise in consumption after the pandemic have helped the city to take the top spot in digital payments transactions, stated the study.
Ramesh Narasimhan, Chief Executive Officer – India, Worldline, said: “Today, both customers and sellers are more receptive towards digital payments. Digital payments are gradually becoming like a commodity, and forming a subtle yet an integral part of our lives. The swift adoption of digital payments can be witnessed with each passing quarter.’‘
Payment instruments like UPI, cards, PPIs were already clocking over 23 billion transactions in the country in a quarter, he added.
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