Data from MyGovIndia shows that India topped the list of the top five countries for digital payments in 2022 with 89.5 million digital transactions. According to the data, India will account for 46% of all real-time payments made globally in 2022, and its total digital payment transactions will exceed those of the other four top economies put together.
"India keeps dominating the digital payment landscape! With innovative solutions and widespread adoption, we're leading the way towards a cashless economy," was tweeted by MyGovIndia.
Second, on the list is Brazil which amounted to 29.2 million transactions followed by China with 17.6 million transactions. On number 4 is Thailand with 16.5 million digital transactions followed by South Korea with 8 million worth of transactions, the data from MyGovIndia has stated.
MyGovIndia is a citizen engagement platform run by the Indian government that offers individuals the chance to contribute at the grassroots level and strive towards Surajya.
PM Modi claimed earlier this year that India leads the world in digital payments and that the rural economy of the nation is changing. "India is number one in digital payments. India is one of the countries where mobile data is the cheapest. Today, the country's rural economy is transforming," the PM said.
In digital payments, India has been witnessing new milestones, in both value and volume terms, which indicate the robustness of India's payment ecosystem and acceptance, as per RBI experts.