Worldline India Digital Payments Report H2 2023

03 / 04 / 2024

Step into the future of payments with the Worldline India Digital Payments Report H2 2023: Gain insights into the surging popularity of UPI, mobile payments, and the evolving digital payments landscape across the nation.

1 min.

Report H2 2023

We are pleased to bring you the latest edition of the ‘India Digital Payments Report’ for H2 2023. Like the previous edition, this semester's report focuses on India’s dynamic digital payments industry. We have analyzed transactions available in public databases and transactions processed by Worldline India during the period July 2023 - December 2023 to derive interesting insights. The report highlights the changing payment preferences of consumers that are compelling stakeholders to adapt and evolve. UPI continues to remain the undisputed leader, supported by robust growth in mobile transactions – signifying the users’ increased comfort and trust with payments through smartphones.

The number of PoS terminals has witnessed a record high while mobile payments have become a dominant payment channel. This highlights that Fintechs need to adapt to multiple payment channels. Worldline India is a beacon of innovation and reliability, offering solutions to meet the payment needs of businesses across all sectors and sizes. This report also features an article on the paramount importance of compliance and its integral role in the fintech business. We are confident you will find this report to be an insightful read.