Mobile payments more than doubled to almost $1 trillion in 2021 from the year before. Lockdowns forced millions of people to buy groceries and medicine through mobile apps because they couldn't leave their homes. Mobile payments more than doubled to almost $1 trillion in 2021 from the year before. Bangalore-based PhonePe now has around 165 million monthly active users and 48% of India's mobile payments by value, says S&P Global. That is partly due to the way India's payments system evolved.

Source: Wall Street Journal May 30, 2022 01:44 UTC