India tops digital payments rankings globally

India has topped the global rankings in digital payments for the year 2022, data from govt’s citizen engagement platform MyGovIndia showed on June 10.

During the year under review, there were 89.5 million digital transactions in the country. India accounted for 46 per cent of the global real-time payments in 2022, which was more than the combined digital payments the next four top countries, reports The Economic Times.

India has witnessed new milestones in digital payments, in both value and volume terms, new agency ANI reported citing statements by RBI experts. This shows the robustness of India’s payment ecosystem as well as the country’s acceptance of the digital, the experts pointed out.

Brazil took the second place, with the country clocking 29.2 million digital transactions. China followed at third spot with 17.6 million transactions.

Thailand was number four with 16.5 million transactions. South Korea followed with 8 million transactions, MyGovIndia data revealed.