Friday, 24 March, 2023

Smaller cities can be the next growth hub for digital payments

<p>Urban India has specifically leapfrogged the credit-card stage to the digital retail payment &ndash; with a whopping 94% already relying on digital payments since March. Digital payments in few tier II, III&nbsp; cities have grown 250% faster as compared to urban areas. Cities, those with populations &lt; 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.</p>