India's e-commerce non-cash payments rise to 58.1% driven by mobile wallets and UPI.
India's non-cash payments on e-commerce platforms have surged to 58.1% from 20.4% six years ago, driven by the widespread usage of mobile wallets, primarily driven by UPI, which allows real-time mobile payments via QR codes. This significant uptake of alternative payment solutions in the Asia-Pacific region has led to a displacement of traditional payment methods like cash and bank transfers on e-commerce platforms.
June 16, 2024
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