Online payments doubled in 2021 on large-scale digital migration: Razorpay

Virtually every sector grew, with F&B topping the charts with 18.08% growth, says a report by the fintech firm

If the pandemic hastened the adoption of digital payments in 2020, then 2021 was the year that digital payments went truly mainstream. Online payments more than doubled in 2021 growing by 104 per cent. Virtually every sector witnessed growth with food and beverages being the top contributing sector with 18.08 per cent, according to ‘The (Covid) Era of Rising Fintech (ERF)’ report, launched by fintech firm Razorpay.

“Among many disruptions we have seen since the pandemic, the rise of the digital economy has been the most significant one and it is changing the way online payments are happening in India,” said