Rising credit card and UPI payments show increase in consumption
By MYBRANDBOOK
Rising credit card and UPI payments indicate an increase in consumption whilst the recovery in economic activities with the ebbing impact of pandemic. As per the RBI’s monthly data, the UPI transactions increased from Rs 9.83 lakh crore in April to Rs 10.73 lakh crore in August this year.
Also, credit card spends through the Point-of-Sale (PoS) terminal increased from Rs 29,988 crore in April to Rs 32,383 crore in August this year. The credit card spending on e-commerce platforms, which was valued at Rs 51,375 crore in April, rose to Rs 55,264 crore in August.
Experts and market players are saying that the increase in volume and value of digital transactions bode well for the economy. It also indicates that consumers are increasingly becoming familiar with different modes of digital payments, and giving up their inhibitions.
The government’s push to digital transactions, rising income, increasing use of smart phones and improvement in internet connectivity are aiding the growth of online payments. Besides, more and more merchants are deploying digital payment infrastructure.
BREAKING NEWS
TECHNO TRENDS
Legal Battle Over IT Act Intensifies Amid Musk’s India Plans
The outcome of the legal dispute between X Corp and the Indian government c...
Wipro inks 10-year deal with Phoenix Group's ReAssure UK worth
The agreement, executed through Wipro and its 100% subsidiary,...
Centre announces that DPDP Rules nearing Finalisation by April
The government seeks to refine the rules for robust data protection, ensuri...
Home Ministry cracks down on PoS agents in digital arrest scam
Digital arrest scams are a growing cybercrime where victims are coerced or ...
E-Magazine
TECHNOTAINMENT
Hrithik Roshan to endorse RuPay as Brand Ambassador
RuPay is reportedly planning to feature Bollywood superstar Hrithik Rosha
India Today Group launches – AI Pop Stars
Staying true to our industry leadership position in using cutting-edge tech
MOVERS & SHAKERS
TelioLabs ropes in Phaniraj V A as the Group CEO
TelioLabs has announced the onboarding of Phaniraj V A as its new Group CE
Wipro Appoints Amit Kumar as Managing Partner and Global Head
Wipro Limited (NYSE: WIT, BSE: 507685, NSE: WIPRO), a leading technology s
OPEN YOUR EYES
INTERVIEWS
Alcatel-Lucent Enterprise Carrying a 100 year legacy ahead
A good amount of R&D works and global support services are operated out of
Bolstering its commitment to help build a truly self-reliant B
CP PLUS is dedicated to spreading a sense of security to every corner of In
HOT PICK
MSI Announces the availability of RTX 50 series of laptops in
MSI, the innovative computing manufacturer in gaming, creator
Nothing Phone (3a) goes on sale today, starting at Rs 19,999
The phone was launched on March 4, featuring a 50MP main, ultra-wide, and t
MAKE IN INDIA BRANDS
ZOHO CORPORATION PVT. LTD.
SECUREYE SERVICES PVT. LTD.
LAVA INTERNATIONAL LTD.
QUICK HEAL TECHNOLOGIES PVT. LTD.
ICONS OF INDIA
Icons Of India : Debjani Ghosh
Debjani Ghosh is the President of the National Association of Software...
ICONS OF INDIA : SRIDHAR VEMBU
Sridhar Vembu is the chief executive officer (CEO) of Zoho Corporation...
Icons Of India : Dr. Arvind Gupta
Arvind Gupta is the Head and Co-Founder of the Digital India Foundatio...
PARTNER SPEAKERS
PSU
DRDO - Defence Research and Development Organisation
DRDO responsible for the development of technology for use by the mili...
GeM - Government e Marketplace
GeM is to facilitate the procurement of goods and services by various ...
NSE - National Stock Exchange
NSE is the leading stock exchange in India....
VIDEOS
Top 25 Brands
Global Indian industry
Indian Tech Talent Excelling The Tech World - Rajiv Ramaswami, President & CEO, Nutanix Technologies
Rajiv Ramaswami, President and CEO of Nutanix, brings over 30 years of...
Indian Tech Talent Excelling The Tech World - Sanjay Mehrotra, CEO- Micron Technology
Sanjay Mehrotra, the President and CEO of Micron Technology, is at the...
Indian Tech Talent Excelling The Tech World - Aman Bhutani, CEO, GoDaddy
Aman Bhutani, the self-taught techie and CEO of GoDaddy, oversees a co...
ITFORUM 2025
CMO of the Year
WOMEN LEADERSHIP
IMAGE GALLERY
TRENDS IN TECHNOLOGY
MORE VIDEOS
ADVERTISEMENTS
TECHNOLOGY DISRUPTION
UNICORNS REVOLUTIONISING
of images belongs to the respective copyright holders
