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Digital payments in India likely to grow to Rs 7,092 trn by 2025: Report

By 2025, wallets are expected to have a higher penetration and lower-income would eventually drive multiple small-ticket transactions

digital payment, e-wallet, mobile wallet

According to the report, wallets will continue to play a key role in its growth with the continuous increase in both frequency and user base.

Press Trust of India New Delhi
Digital payments in India are expected to grow over three-folds to Rs 7,092 trillion by 2025 on account of government policies around financial inclusion and the growing digitisation of merchants, according to a research report.

The country's digital payment market was worth around Rs 2,162 trillion in 2019-20, RedSeer Consulting said in its report.

"The current 160 million unique mobile payment users will multiply by 5 times to reach nearly 800 million by 2025. This growth will be driven by a number of demand and supply-side drivers," the Bengaluru-based management consultancy said.

"Mobile payments will drive around 3.5 per cent

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First Published: Aug 23 2020 | 6:30 PM IST

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