Digital payments market in India likely to grow 3-folds to ₹7,092 trillion

NEW DELHI : Digital payments in India are expected to grow over three-folds to ₹7,092 trillion by 2025 on account of government policies around financial inclusion and growing digitisation of merchants, according to a research report.

The country’s digital payment market was worth around ₹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.