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India is the global leader in digital transactions, accounting for 46% of the global real-time digital payments in the year 2022.
IBT Graphics
The digital payments market in India is witnessing unprecedented growth, with the increasing adoption of mobile payments by businesses and the expansion of e-commerce.
India topped the list of the top five nations in digital payments, with more than 89.5 billion digital transactions in the year 2022, according to data from MyGovIndia.
The data shows India accounted for 46% of the global real-time digital payments last year. The South Asian nation recorded more digital payment transactions during the last year than the next four countries in the list combined. With its innovative solutions and widespread adoption of digital payments, India is dominating the market landscape and is on its way to becoming a cashless economy.
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Brazil came in at number 2 on the list, with 29.2 billion digital transactions, followed by China with 17.6 billion online payments. Thailand was a close number 4 with 16.5 billion digital transactions, and South Korea recorded 8 billion worth of transactions, MyGovIndia data showed.
2023-07-11 18:48:02
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