INSUBCONTINENT EXCLUSIVE:
The volume of debit card transactions was 110 crore while the value stood at Rs 1.91 lakh crore.New Delhi: Digital transactions in the
country during January to March period stood at 93.7 crore in volume terms and Rs 131 lakh crore in value terms, Worldline India said on
Thursday.The total number of debit cards at the end of first quarter of calendar year totalled 89.8 crore while credit cards numbered 6.2
The point-of-sale terminals were 47.2 lakh.The volume of debit card transactions was 110 crore while the value stood at Rs 1.91 lakh crore
On the other hand, the volume of credit card transactions stood at 52.4 crore and their value stood at Rs 1.97 lakh crore.Mobile based
payments volume totalled 832 crore with value of Rs 31.9 lakh crore
Of these, transactions of mobile wallets totalled 113 crore with value of Rs 41,175 crore.Unified Payments Interface (UPI) witnessed over
273 crore transactions in March and breached Rs 5 lakh crore in terms of value.The Reserve Bank of India (RBI) in its annual report 2020-21
said digital payment systems recorded a robust growth of 26.2 per cent in terms of volume on top of the expansion of 44.2 per cent in the
previous year."This clearly indicates the growing confidence among consumers towards digital payments not only in tier one and two cities
but also in tier three and beyond," said Deepak Chandnani, Managing Director of Worldline South Asia and Middle East."Although the
restrictions on the movement of people and persistent lockdowns may have compelled people to adopt digital payment modes, the convenience,
transparency and security of digital payments will ensure customer stickiness in the years to come."
