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India, a South Asian nation with a vast population, has witnessed a significant increase in the use of digital payments. The government’s initiatives to promote digital payments have been successful, leading to a surge in mobile wallets, online banking, and digital payment platforms. India is now a global hub for digital payments. India’s payment landscape is undergoing a dramatic transformation, driven by a massive push towards digitalization. While cash remains prevalent, especially in rural areas and smaller businesses, digital payment methods are rapidly expanding. Mobile payment platforms (PhonePe, Google Pay, Paytm) have experienced explosive growth, facilitated by widespread smartphone adoption and robust mobile network coverage. This has significantly improved financial inclusion. Credit and debit cards are also becoming increasingly common, and online banking and electronic transfers are routinely used for various transactions. The government’s initiatives, such as the Unified Payments Interface (UPI), have been instrumental in accelerating this digital revolution.

Population

Estimated Population

1.4 billion

Currency

Currency

Indian rupee (INR)



Popular payment methods