The digital payments market In India is expected to grow to US $ 1 trillion by 2023 led by growth in mobile payments, presenting huge business opportunities for players in the digital space. Mobile payments are slated to rise from $ 10 billion in 2017-18 to $ 190 billion by 2023.
These estimates are based on a study of Credit Suisse and have been mentioned in a booklettitled ‘Digital Payment: Trends, Issues and Opportunities’, launched today by Mr. Ratan P. Watal, Principal Advisor, NITI Aayog and Member Secretary, EACPM, at a conference organised by FICCI and NITI Aayog.This is the 2ndannual edition of the booklet on Digital Payments which was published in July 2017.
• Growth momentum of Digital Payments in Volume and Value sustained post Demonetization
• Spectacular Growth in New Products like UPI
• Steps taken to bring in a New Regulatory Regime as per Watal Committee Report
• RBI has taken four key initiatives to usher in a new era of Digital Payments
• World of Opportunities ahead for Fintech Players
