Payment methods in India

Over 800 million people now use the internet in India, with an estimated 270–340 million shopping online. The opportunity is huge, and despite rapid growth, India’s digital commerce story is still in its early stages. With around 50% of the population under the age of 25, a young, mobile-first demographic will continue to drive adoption in the years ahead.

India has over one billion debit cards and a growing base of credit cards, with five major card schemes operating in the market, including the locally ubiquitous RuPay. At the same time, real-time payments via UPI have become central to everyday commerce, with volumes expected to exceed one billion transactions per day within the next three years, reshaping the payment landscape.