India’s journey of creating a #digitalfinancialinfrastructure has helped to advance the country’s goal of enabling financial inclusion and also provided rapid payment digitization for citizens. The pandemic has further accelerated the adoption of #digitalpayments with many first-time users adopting digital payments and significant uplift by merchants. According to a report, India retained the top spot with 25.5 billion real-time #paymentstransactions, followed by China with 15.7 bn transactions.



There are three segments that have shown positive growth. First is OTT that has witnessed an incredible 144% increase in the number of transactions. Second is the gaming segment which also saw a phenomenal 100% increase in expenditure and 154% increase in average ticket size between the two years. Finally, edtech saw a huge boost with a 78% increase in the number of transactions and a 44% increase in expenditure, within this period. At the same time, Globally, card-related fraud remains the highest in terms of reported incidents from consumers. However, fraud incidents associated with real-time payments were on the rise from 2019 to 2020 as fraudsters tend to target new channels. Real-time payments scams that were on the rise include confidence tricks (12.5% rising to 13.7 %), Identity theft (6 % rising to 11.6%) and digital wallet account hacks (4.4% rising to 6.2%).


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