India has witnessed exponential growth in digital payments over the last decade. In 2013, there were 222 crore digital transactions worth ₹772 lakh crore. By 2024, this surged 94 times in volume to 20,787 crore transactions, with a total value of ₹2,758 lakh crore.
In just the last five years, digital payments have increased 6.7 times in volume and 1.6 times in value, reflecting a Compound Annual Growth Rate (CAGR) of 45.9% in volume and 10.2% in value. This rapid adoption highlights India’s growing shift towards a cashless economy.
