How digital payments will grow to $10 trillion
Jun 10, 12:06

Digital transactions in India have catapulted in the past two years, with monthly Unified Payments Interface (UPI) transactions crossing Rs 10 trillion in May. According to a report, Indian digital payments will triple by 2026 to $10 trillion from the current $3 trillion. The growth will be led by merchant payments that are expected to significantly digitise in the next five years. Penetration is set to grow from 20 percent in 2021 to 65 percent in 2026. Overall, digital merchant payments will grow 7x from $0.3-0.4 trillion today to $2.5- 2.7 trillion by 2026. Digital payment transactions will constitute two of every three payments in 2026.

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