Online payments went down by 30% amid lockdown: Report

Online payments dropped by 30% during the nationwide lockdown, hit by fall in digital transactions across sectors like logistics, travel, real estate and food and beverages, as per a report by fintech platform Razorpay.

The report is based on transactions on Razorpay’s platform between February 24 to March 23 (before lockdown) and March 24 to April 23 (during lockdown).

It found that digital transactions recorded highest fall of 41% in Gujarat followed by Madhya Pradesh (39%) and Tamil Nadu (26%).

Interestingly, segments like utilities (bill payments), IT and software, and media and entertainment saw a growth of 73%, 32% and 25%, respectively as people stayed indoors.