Cashless Capital: Bengaluru Emerges As Digital Transactions Hub Ahead Of Mumbai, Delhi

Bengaluru, also known as the Silicon Valley of India, topped the list of Indian cities in terms of highest digital transactions in the year 2022, as per a report published by global payment services company Worldline.

What Happened? According to the Worldline report cited by The Hindu, the city recorded 29 million transactions worth ₹6,500 crore. Delhi followed in second place with 19.6 million transactions worth ₹5000 crore, while Mumbai came in third place with 18.7 million transactions worth ₹4950 crore.

Pune and Chennai completed the top five, with 15 million digital transactions worth ₹3,280 crore and 14.3 million transactions worth ₹3,550 crore, respectively.

The report, titled ‘India Digital Payments Annual Report', revealed that payment modes such as UPI, debit and credit cards, and prepaid payment instruments – mostly prepaid cards, processed 87.92 billion transactions worth ₹1,49,50,000 crore.

See also: RBI Governor Proposes Allowing Pre-Sanctioned Credit Lines Via UPI: What It Means For You

The report also indicated that UPI recorded over 74.05 billion transactions in volume and ₹1,26,00,000 crore in terms of value, which nearly doubled compared to the previous year.

The top 10 states and Union Territories with the highest transactions for physical touchpoints in 2022 were Kerala, Maharashtra, Tamil Nadu, Karnataka, Uttar Pradesh, Delhi, Telangana, Gujarat, West Bengal, and Punjab.

Meanwhile, the top 10 cities with the highest number of transactions at physical touchpoints in 2022 were Bengaluru, New Delhi, Mumbai, Pune, Chennai, Hyderabad, Ernakulam, Thiruvananthapuram, Thrissur, and Coimbatore.

Read next: UPI Exudes Digital Payments Dominance As Transactions Surge 82.2% in FY23, Reveals NPCI

Don't miss a beat on the share market. Get real-time updates on top stock movers and trading ideas on Benzinga India Telegram channel.

Comments
Loading...
Posted In: FintechDigital TransactionsUPI
fintech-banner
Fintech Focus Newsletter

Your update on what’s going on in the Fintech space. Keep up-to-date with news, valuations, mergers, funding, and events. Sign up today!


Loading...