The silicone valley of India, Bengaluru has topped the list of Indian cities in terms of highest digital transactions in the year 2022, a report by French payment and transactional services firm has stated. The city recorded 29 million transaction worth ₹6500 crore in 2022, The Hindu has reported citing the Worldline report.
Second on the list is Delhi which amounted 19.6 million transaction worth ₹5000 crore followed by Mumbai with 18.7 million transactions worth ₹4950 crore. On number 4 is Pune with 15 million digital transactions worth ₹3280 crore and Chennai with 14.3 million transactions worth ₹3,550 crore, the report has stated.
In the report titled ‘India Digital Payments Annual Report,’ payment modes like UPI, Debit and Credit cards, Prepaid Payment Instruments – Mobile and Prepaid cards processed 87.92 billion transactions worth ₹149.5 trillion.
As per the report, UPI clocked over 74.05 billion transactions in volume and ₹126 trillion in terms of value. Its transactions volume and value almost doubled since last year as it recorded 91 percent increase in volume and over 76 percent increase in value in Year 2022 as compared to Year 2021.
In the report, it shows that frequently visited physical merchant categories like grocery stores, restaurants, clothing and apparel, pharmacy and medical, hotels, jewelry retail, specialty retail, household appliances and departmental stores together accounted for over 43 percent in terms of volume while 40 percent in terms of value.
In the online space, e-commerce (shopping for goods and services), gaming, utility and financial services contributed to over 85 percent transaction in terms of volume and 25 percent in terms of value.
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