India claims the top spot in global digital payments with 89.5 million transactions.

According to data from MyGovIndia, India has taken the lead in digital payments, recording 89.5 million transactions in 2022, outpacing four other countries. These transactions accounted for 46% of global real-time payments, surpassing the combined digital payment transactions of the other leading nations. MyGovIndia expressed enthusiasm for India’s dominance in the digital payment landscape, attributing it to innovative solutions and widespread adoption, leading the way toward a cashless economy. Brazil secured the second spot with 29.2 million transactions, followed by China with 17.6 million. Thailand ranked fourth with 16.5 million digital transactions, while South Korea recorded 8 million transactions. MyGovIndia serves as a citizen engagement platform for the Government of India, allowing people to contribute at the grassroots level. Prime Minister Narendra Modi previously highlighted India’s position as a leader in digital payments, emphasizing the country’s affordable mobile data and the transformative effect on the rural economy. Experts from the Reserve Bank of India have observed significant milestones in India’s digital payment ecosystem, indicating its strength and acceptance in terms of both value and volume.