Digital payments power high-value spends across sectors: Report

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India’s digital payments landscape is increasingly expanding beyond everyday retail and utility transactions to power larger, high-value spends in sectors like education, healthcare, and auto services, according to a new report by fintech firm Phi Commerce.

According to the report titled ‘How India Pays’, while Unified Payments Interface (UPI) continues to dominate small and mid-value transactions — accounting for 65% of overall digital volumes — there is a growing reliance on EMIs and credit cards to finance bigger-ticket needs.

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Digital payments power high-value spends across sectors: Report


India’s digital payments landscape is increasingly expanding beyond everyday retail and utility transactions to power larger, high-value spends in sectors like education, healthcare, and auto services, according to a new report by fintech firm Phi Commerce.

According to the report titled ‘How India Pays’, while Unified Payments Interface (UPI) continues to dominate small and mid-value transactions — accounting for 65% of overall digital volumes — there is a growing reliance on EMIs and credit cards to finance bigger-ticket needs.

For…



Source link

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.

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