India’s digital payments market will be tripled to $10 trillion by 2026

According to the latest study which was conducted by digital payments firm PhonePe and Boston Consulting Group (BCG) states that India’s digital payment market is expected to more than triple to $10 trillion by 2026.

Presently, 40% of all transactions in India are digital, and payments worth $3 trillion were processed by digital instruments in 2021. India’s UPI continues to grow, clocking $5.95 billion transactions worth Rs $10.41 lakh crore in May 2022.