Increase in digital transactions, decrease in transactions through POS

- Gujarat ranks eighth in the country in digital transactions while Ahmedabad ranks tenth

Highlights of digital transactions

; The total number of cards is 20.5 million

; Total number of debit cards is 3.50 million and credit cards are 3.05 million.

; POS Terminal 4.5 million

; In Q1 2021, the total transaction was Rs 3.50 million (volume). 121.3 lakh crore (value)

; Mobile-based payments volume stood at Rs 4.5 billion and was valued at Rs 21.5 lakh crore.

; The volume of debit card transactions was 1.10 billion while the value was Rs. 1.31 lakh crore

; The volume of credit card transactions is 4.5 million, valued at Rs. 1.5 lakh crore

; The prepaid card transaction volume was Rs 3.5 million, valued at Rs. 13.50 billion.

; The volume of mobile wallets transactions stood at Rs 1.17 billion, valued at Rs. 311.3 billion

; NETC has raised about Rs 500 million in transactions. Processed Rs 20.31 billion

; UPI had over 2.5 billion transactions in March 2021, surpassing સપાટી 3 trillion in value.

Cash transactions have reached record levels amid the epidemic in the country. As well as the increase in cash on the hands of the people, on the other hand, there has been a significant increase in digital payments in the country. According to a recent study released by Worldline India, transactions through debit and credit cards, mobile payments, e-wallets are increasing day by day.

In the first quarter of 2021, the number of digital transactions was high in 10 states of the country. These ten states include Maharashtra, Tamil Nadu, Karnataka, Rail, Kerala, Andhra Pradesh, Delhi, Uttar Pradesh, Gujarat, Telangana and West Bengal.

Digital transactions take place on a large scale in 10 cities of different states in the country. These 10 cities include Bengaluru, Mumbai, Hyderabad, Chennai, Pune, Delhi, Kolkata, Coimbatore, Ernakulam and Ahmedabad.

The RBI said in its annual report 2020-21 that the payment system has grown at a strong growth rate of 4.5% in terms of volume, on top of the previous 7.5% expansion. Which clearly shows the growing confidence of consumers towards digital payments. Digital payments are stated not only in the first and second row cities, but also in the third and subsequent cities.