The country’s digital payment market was worth around Rs 2,162 lakh crore in 2019-20, RedSeer Consulting said in its report. “Mobile payments will drive around 3.5 per cent of total digital payments of Rs 7,092 trillion by financial year 2025, up from the current 1 per cent. Redseer sees Covid-19 as a catalyst to digital payments across India. According to RedSeer, digital payments share of grocery stores increased to 75 per cent due to Covid-19 as people preferred paying through mobile phone due to safety concerns. “The payment gateway market today is very competitive, and all leading players are fighting for the market share.

Source: Hindustan Times August 23, 2020 17:26 UTC