Smaller cities can be the next growth hub for digital payments

Urban India has specifically leapfrogged the credit-card stage to the digital retail payment – with a whopping 94% already relying on digital payments since March. Digital payments in few tier II, III  cities have grown 250% faster as compared to urban areas. Cities, those with populations < 1 mn, in India, are expected to witness sharp-growth of digital payments in the near future and are capable of constituting about one-third of total consumer spending by 2025.

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