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As of 2023 there are 907.4 million internet users in India (64% of the population), a 35% increase since 2018. [3] 63% payments still being made in cash. E-payments have been heavily promoted in India showing consumers the various ways they can make these payments Including ATMs, the Internet, mobile phones and drop boxes.
As of 24 April 2023, ONDC completed the milestone of 5,000 daily orders in foods & beverages, and grocery category and on average 6,000 orders during weekends. It crossed the mark of 10,000 orders on 30 April 2023. [133] As of 24th May 2023, ONDC achieved a grand one-year milestone after completing 1 year of operation.
With UPI representing 62% of digital payment transactions in FY 2022–2023, it has been the primary driver of the overall development of digital payment transactions in India. [105] In January 2024, the value of UPI transactions reached ₹18.41 trillion, a slight increase of 1% from ₹18.23 trillion in December 2023. From 12.02 billion in ...
The Reserve Bank of India started a pilot for the e-rupee, devised as a digital alternative to physical cash, in December 2022, and successfully reached a target of 1 million retail transactions ...
On 1 November 2022, RBI used Digital Rupee to settle Indian government bonds in secondary market transactions worth ₹2.75 billion Indian rupees ($33.29 million). [52] The Phase-1 of pilot project for e₹-R will start from 1 December 2022 in Mumbai, New Delhi, Bengaluru, and Bhubaneswar under State Bank of India, ICICI Bank, Yes Bank, and ...
According to NPCI data released in May 2019, 112.7 Crore transactions (1.127 billion) valued at ₹1.174 Lakh Crores (US$17 billion) were made on RuPay cards during the 2018–19 fiscal year. RuPay held 58% of the market share by number of cards issued, 30% by number of point of sale transactions, and 25% by number of online transactions from ...
BHIM (Bharat Interface for Money) is an Indian state-owned mobile payment app developed by the National Payments Corporation of India (NPCI), based on the Unified Payments Interface (UPI). Launched on 30 December 2016, [1] it is intended to facilitate e-payments directly through banks and encourage cashless transactions.
Digital India is a campaign launched by the Government of India to make its services available to citizens electronically via improved online infrastructure and by increasing Internet connectivity. [ 1 ] [ 2 ] The initiative includes plans to connect rural areas with high-speed internet networks.