Digital transactions within the nation throughout January to March interval stood at 93.7 crore in quantity phrases and Rs 131 lakh crore in worth phrases, Worldline India mentioned on Thursday.
The entire variety of debit playing cards on the finish of first quarter of calendar 12 months totalled 89.8 crore whereas bank cards numbered 6.2 crore. The purpose-of-sale terminals had been 47.2 lakh.
The quantity of debit card transactions was 110 crore whereas the worth stood at Rs 1.91 lakh crore. However, the quantity of bank card transactions stood at 52.4 crore and their worth stood at Rs 1.97 lakh crore.
Cell primarily based funds quantity totalled 832 crore with worth of Rs 31.9 lakh crore. Of those, transactions of cellular wallets totalled 113 crore with worth of Rs 41,175 crore.
Unified Funds Interface (UPI) witnessed over 273 crore transactions in March and breached Rs 5 lakh crore by way of worth.
The Reserve Financial institution of India (RBI) in its annual report 2020-21 mentioned digital fee techniques recorded a strong progress of 26.2 per cent by way of quantity on high of the enlargement of 44.2 per cent within the earlier 12 months.
“This clearly signifies the rising confidence amongst customers in direction of digital funds not solely in tier one and two cities but additionally in tier three and past,” mentioned Deepak Chandnani, Managing Director of Worldline South Asia and Center East.
“Though the restrictions on the motion of individuals and chronic lockdowns could have compelled individuals to undertake digital fee modes, the comfort, transparency and safety of digital funds will guarantee buyer stickiness within the years to come back.”