In value terms, digital transactions grew 17.3 per cent over the year, largely driven by Real Time Gross Settlement (RTGS) transactions, the report said. The total value of digital payments reached Rs 2,862 lakh crore, up from Rs 2,428.2 lakh crore in the previous fiscal.
The uptrend continues the strong momentum seen in FY24, which recorded a 44% rise.
The Unified Payments Interface (UPI) experienced a temporary outage for the second time within a week.
The digital payment transactions (including UPI) surged with over 18,120 crore transactions in 2024-25 (till January this year), with transaction value crossing Rs 2,330 lakh crore, the government
RBI Governor Sanjay Malhotra on Thursday asked fintech firms and digital payment companies to ensure responsible innovation and better compliance.
Global payment processing firm Stripe on Thursday announced to cut of over 1,000 jobs or 14 per cent of its staff.
European payments services provider Worldline and NPCI International Payments Ltd (NPIL) have entered into a partnership in a move to expand the acceptance of Indian payment means across Europe.
In the second quarter (Q2), India processed 20.57 billion online transactions valued at Rs 36.08 trillion this year, according to a report released by Wordline India, on Tuesday.
Commenting on the acquisition Sameer Nigam, Founder and CEO PhonePe said: "We are very excited to embark on this journey with OSLabs, and build just the kind of the localised App store that India needs."
The report said that the partnership between the two companies will bring contactless payment to more Indians.
