New Delhi: According to data released by MyGovIndia, India has secured the top position among five countries in terms of digital payment transactions in the year 2022, with a staggering 89.5 million transactions. This remarkable achievement signifies India’s significant progress in the realm of digital finance.
The report reveals that India accounted for a remarkable 46% of global real-time payments, surpassing the combined digital payment transactions of South Korea, Thailand, China, and Brazil. Among the countries on the list, Brazil secured the second spot with 29.2 million transactions, followed by China with 17.6 million transactions.
MyGovIndia, a citizen engagement platform of the Government of India, has been instrumental in facilitating the participation of citizens in the development of the nation. It provides an avenue for individuals to contribute their ideas and actively contribute to the nation’s progress, ultimately working towards the achievement of “Surajya” – good governance.
Earlier this year, Prime Minister Narendra Modi, addressing the Civil Services Day in New Delhi, proudly proclaimed that India holds the top position in digital payments, emphasising the transformative impact on the country’s rural economy. This assertion aligns with the growing recognition of India’s prowess in digital finance on a global scale.
Experts from the Reserve Bank of India (RBI) have commented on the continuous milestones achieved in terms of both the value and volume of digital payments in India. These achievements not only showcase the robustness of India’s payment system but also highlight the widespread acceptance of digital payments across the nation.