Worldline India Digital Payments Annual Report 2022

The mass adoption of multiple payment solutions is a boon in our journey to realize the dream of a cashless India. 2022 witnessed an ever-increasing adoption of digital payments with UPI leading the way. You will be happy to note that by December 2022, the total number of cards in circulation was 1.02 billion, POS terminals deployed by merchant acquiring banks were 7.55 million, the number of prepaid payment instruments were 16.23 billion, and UPI and BQR QRs were 242.89 million. As we look to the future, we are excited about the opportunities that lie ahead. Worldline, a global leader in payment services, will continue to focus on developing solutions that provide a seamless and secure experience for consumers, merchants, and financial institutions.

We recognize that the financial services industry is undergoing significant transformation and we are committed to being at the forefront of this change to address key aspects like rapidly changing consumer behaviour, constantly evolving regulations, and continuous technological advances among others. In 2023 and beyond, we will continue to collaborate with our merchants, partner banks, fintechs, and e-commerce players and invest in the technology and infrastructure needed to build a more inclusive and open financial ecosystem.

With these thoughts, we are glad to present Worldline India’s Digital Payments Report covering key highlights and insights from the previous year. i.e. Jan till Dec 2022. Along with this, we also share our perspective on the Metaverse and where it is likely headed to.