Digital payments in India likely to grow threefold by 2025, says report

Digital payments in India are expected to grow over threefold by 2025 due to growing smartphone penetration, Covid-led changes in consumer behaviour and policies around financial inclusion.

According to a report by Redseer Consulting, Rs 7,092 trillion worth of transactions are expected to be conducted by 2025, a CAGR of 27 per cent.

This will be on the back of the Covid-19 outbreak that would gradually lead to a change in consumer behaviour as they incline more towards digital.