Worldline releases its India Digital Payments Report for 2H 2024

• UPI transactions soar – UPI transaction volume grew 42% YoY, reaching 93.23 billion transactions, while transaction value surged 31% to INR 130.19 trillion.
• POS Terminals cross 10 Million – POS deployment grew 23% YoY, reflecting deeper digital penetration.
• UPI QR adoption accelerates – UPI QR codes jumped 126% to 633.44 million, strengthening digital merchant transactions.
• Mobile payments boom – Mobile transactions surged 41% to 88.54 billion, reinforcing mobile-first financial behaviour.

Shifting Consumer Preferences –

• Credit card transactions surged 36%, solidifying their role in high-value payments.
• Prepaid cards witnessed 35% growth, signalling increased adoption of flexible payment options.
• Electronic toll collections (FASTag) expanded 12%, with 103.1 million tags issued.

SoftPOS and Security Innovations Redefining Merchant Payments

As detailed in the report’s Industry Insights, SoftPOS technology is revolutionizing payments by allowing NFC-equipped smartphones to function as secure contactless payment terminals. This eliminates the need for traditional POS hardware, making payment acceptance more affordable and accessible for small businesses. The implementation of MPoC security standards ensures PIN-based authentication, enabling merchants to process higher-value transactions securely.

India’s Evolving Digital Payment Landscape

• Top spending categories in stores – Grocery stores, restaurants, pharmacies, and government services accounted for 68% of transaction volume and 53% of total transaction value.
• Online transaction hotspots – E-commerce, gaming, utilities, and financial services made up 81% of digital transactions and 74% of total transaction value.
• State-wise digital payment adoption – Kerala, Maharashtra, Tamil Nadu, Karnataka, Delhi, Telangana, Uttar Pradesh, Gujarat, Jharkhand and West Bengal.

Worldline’s Commitment to Digital Transformation

Ramesh Narasimhan, Chief Executive Officer - Worldline India, said, "India’s digital payments ecosystem is evolving at an unprecedented pace, driven by UPI’s widespread adoption, the expansion of POS infrastructure, and the growing preference for mobile transactions. The rapid rise of SoftPOS technology is redefining how businesses accept payments, making digital transactions more accessible than ever. At Worldline, we remain committed to fostering this transformation through secure, innovative, and inclusive payment solutions that empower businesses and consumers alike."

Note to Editors - These figures reflect general market trends and should not be taken as a proxy for Worldline‘s market share or company earnings. The figures primarily reflect transactions undertaken from July to December 2024 available in public databases during this period.

About Worldline

Worldline [Euronext: WLN] helps businesses of all shapes and sizes to accelerate their growth journey – quickly, simply, and securely. With advanced payments technology, local expertise and solutions customised for hundreds of markets and industries, Worldline powers the growth of over one million businesses around the world. Worldline generated a 4.6 billion euros revenue in 2024. worldline.com

In India, Worldline is a leading Omnichannel payments technology player building a robust payment ecosystem for over 26 years. Worldline is the preferred partner for over 30 leading public and private sector banks, leading sectors like NBFCs, insurance companies, e-commerce businesses, startups, retail brands, hotel chains and many more.