India has emerged as the leader in digital payments among five countries, recording 89.5 million transactions in 2022, according to data from MyGovIndia. The country accounted for 46% of global real-time payments, surpassing the combined transactions of the other four leading nations.
MyGovIndia celebrated India’s dominance in the digital payment landscape, attributing it to innovative solutions and widespread adoption. Brazil ranked second on the list with 29.2 million transactions, followed by China with 17.6 million. Thailand secured the fourth spot with 16.5 million digital transactions, and South Korea recorded 8 million worth of transactions.
MyGovIndia is a citizen engagement platform of the Government of India, focused on soliciting ideas and grassroots contributions for the nation’s progress. Prime Minister Narendra Modi had previously highlighted India’s leadership in digital payments, citing the country’s affordability of mobile data and the transformation of its rural economy. The Reserve Bank of India also recognized India’s payment ecosystem’s strength and acceptance through its milestones in value and volume.
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