Best merchant payment in India
Digital payments changed the face of India. In fact, India made its mark on the global market in the digital payment space due to UPI. Hundreds of FinTechs today are working in the digital payments space and offering multiple solutions. From utility bill payments to buying groceries, digital payments have made their place even in the small shop in the hinterland. India currently has nine Unicorns in the FinTech segment and according to reports; Indian FinTechs are expected to hit a valuation of USD 150-160 billion by 2025. Over the last one year, India has seen a tremendous increase in digital payments. According to a recent report by ACI Worldwide and Global Data, India has surpassed the United States and China as the world’s largest real-time digital payments market, driven by both P2P and merchant payments. It is expected that by 2025, digital payments collectively in India would account for 70+% of overall payments volume, leaving cash and cheques at below 30%. Globally, more than 70 billion real-time payment transactions were processed in 2020, a surge of 41% compared to the previous year.
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