India tops world ranking in digital payments with record-breaking transactions: MyGovIndia data

India has topped the list in digital payments, surpassing four other countries, with a staggering 89.5 million transactions recorded in 2022, according to data from MyGovIndia.

India in the year 2022 accounted for 46 per cent of the global real-time payments, as per the data. The digital payment transactions in India are more than the other four leading countries combined, it added.

Brazil is second on the list which amounted 29.2 million transactions followed by China with 17.6 million transactions. Thailand ranked at number 4 with 16.5 million digital transactions followed by South Korea with 8 million worth of transactions, the data from MyGovIndia has stated.

According to the RBI experts, India has been witnessing new milestones, in both value and volume terms in digital payments, which indicate the robustness of India’s payment ecosystem and acceptance.

“India keeps dominating the digital payment landscape!  With innovative solutions and widespread adoption, we’re leading the way towards a cashless economy.  #9YearsOfTechForGrowth #9YearsOfSeva,”MyGovIndia tweeted.