New Delhi: India’s digital payments ecosystem is set to witness an expansion with credit card transactions expected to grow at a compound annual growth rate (CAGR) of 21.7 per cent over the next year five years, according to a new report by PwC India.

According to the report, digital payment transactions in India are projected to surge from 206 billion if FY25 to 617 billion by FY30. In terms of value, the total transaction volume is expected to jump nearly threefold, from Rs 299 trillion to Rs 907 trillion during the same period.

UPI continues to dominate the scene

The United Payments Interface (UPI) lies at the core of this transformation and continues to dominate India’s retail payment ecosystem. UPI currently accounts for nearly 90 per cent of all transaction volumes and is expect

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