According to the data, India recorded a staggering 89.5 million digital transactions during the review period. This accounted for a remarkable 46 percent share of the worlds real-time payments in 2022, surpassing the combined digital payments of the next four top countries.
The Growth of digital payments in India has witnessed significant milestones in terms of both value and volume. Experts from the Reserve Bank Of India (RBI) highlighted the countrys strong payment ecosystem and the acceptance of digital modes by Indian citizens as key factors contributing to Indias digital payments success.
Brazil secured the second position in digital payments with 29.2 million transactions, followed by China at third place with 17.6 million transactions. Thailand and South Korea secured the fourth and fifth spots, respectively, with 16.5 million and 8 million transactions.