India to become world leader in UPI payments volume in next 5 years: Report

The report comes from an industry-first research and analyses real-time payments volumes, growth and dynamics across 30 global markets.
The need for digital payments has never been so palpable as during the Covid-19 crisis. While India continues to battle the pandemic by being painfully low on health resources, it is estimated that the nation will be leading globally when it comes to real-time payments volume.

The 'Prime Time for Real-Time' report by ACI Worldwide Research highlights that India is poised to lead the world in the next five years in real-time payments volumes as real-time payments transaction volumes are set to grow from 15.3 billion in 2019 to a staggering 52.8 billion in 2024.

What makes India a potential leader is its payments modernization initiatives in the wake of demonetisation, giving it an edge over other nations. The report comes from an industry-first research and analyses real-time payments volumes, growth and dynamics across 30 global markets.

 


Business Standard is now on Telegram.
For insightful reports and views on business, markets, politics and other issues, subscribe to our official Telegram channel