E-commerce, OTT, gaming witnessed over 100% growth in 2020: Report

PayU, India’s leading online payments solution provider, has mapped the impact of COVID-19 and lockdown as seen through year-on-year change in digital payments.

The pandemic gave a huge boost to online payments, seen in the 24 per cent increase in the number of transactions and 23 per cent increase in expenditure across the PayU platform, year-on-year. Interestingly, during the festive season (October-December 2020) there was a 45 per cent spike in number of online transactions vis-a-vis the same period in the previous year. In line with this trend, PayU processed close to 100 million transactions in a single month during the festive period (15 October-15 November, 2020).