Worldline India Digital Payments Annual Report 2020

31 / 12 / 2020

Digital payments soar in 2020: Worldline's annual report. Discover the growth of payment gateways, advancements in payment infrastructure, and the company's perspective on consumer payment transformation.

Report 2020

We witnessed digital payments taking centre stage across the globe in 2020. In India, new and old payment channels have catered to market needs ensuring long-term growth not only in terms of onboarding new merchants and customers in the payments ecosystem but also increasing the number of digital transactions. New payment systems like FASTag and Bharat BillPay matured in the previous year while payment gateways continued to be the reliable partners to facilitate end-to-end payments for consumers and merchants alike.

In 2020, we also witnessed key developments from the regulatory standpoint such as the creation and operationalization of the Payments Infrastructure Development Fund, a pilot scheme for small value payments in offline mode, Streamlining QR Code infrastructure, setting up of a Self-Regulatory Organisation for Payment System Operators among others; these will lead to sustainable positive changes. For Worldline, 2020 was a landmark year as we completed the acquisition of Ingenico and emerged as the largest merchant acquirer and payment processor in Europe and number 4 globally.

We are now able to offer our banking and merchant partners a comprehensive and enhanced range of innovative solutions in online payments, physical merchant acquiring and transaction processing services among others. As we conclude Q1 2021 and continue to grow with strong momentum, it is useful for us to take a look at how digital payment instruments fared in the previous year.

This annual report gives an in-depth look at digital transactions in India in 2020 as well as insights into transactions that were processed on our network. In addition, we give our perspective on how consumers’ payment experience will transform shortly and our thoughts on the New Umbrella Entity for Retail Payments initiative.