Hyd sees 2nd highest digital payments

Hyderabad: Digital payment solutions provider for physical and online businesses, Worldline India in its India Digital Payments Report has said that Hyderabad witnessed second highest digital payment transactions fromJanuary to October 2022.Festive season sales and a rise in consumption ledthe city to count Rs 10.36 million digital payment transactions in terms of volume while the value stood at Rs 30.5billion, the report stated. The other cities in the top five list of highest digital transactions are Chennai, Mumbai, Pune and Bengaluru leading the list with Rs 14.82 million in volume of transactions,while value stood at Rs 36.2 billion.

Ramesh Narasimhan, Chief Executive Officer – India, Worldline said, "Today, both customers and sellers are being more receptive towards digital payments. Digital payments are gradually becoming like a commodity and forming a subtle yet an integral part of our lives. The swift adoption of digital payments can be witnessed with each passing quarter. Popular payment instruments like UPI, cards, PPIs are already clocking over 23 billion transactions in a quarter. We are glad to share our analysis of our transactions processed for the top five cities in India with highest digital transactions."

The sectors in which digital payment transaction was recorded are physical merchant categories including grocery stores, restaurants, clothing and apparel, pharmacy, medical, hotels, jewelry retail, specialty retail, household appliances, and departmental stores. While in the online space, e-commerce saw higher transactions with 43.21 million and 36 per cent of the total volume of digital payments.