The recently introduced Aadhaar Enabled Payment System saw the most compound annual growth rate between fiscal years 2015 and 2019 with a 782 percent growth. On the other hand, payment transactions via bank checks saw a loss indicating that people were slowly but steadily moving away from this payment system.
India has a variety of options for payments and monetary transactions including a heavily cash-driven system and also a growing digital payments user base.
CAGR of customer usage of payment systems across India between FY 2015 to FY 2019
Note: RTGS denotes real time gross settlement systems; paper clearing denotes all the paper-based payment systems such as checks and cash; NEFT denotes the national electronic funds transfer system maintained by the Reserve Bank of India; NACH denotes the national automated clearing house to help bulk and repetitive transactions through banks; IMPS denotes immediate payment services as instant inter-bank transfers; AEPS denotes the Aadhaar Enabled Payment System; PPI denotes the prepaid payment instruments.
Profit from the additional features of your individual account
Currently, you are using a shared account. To use individual functions (e.g., mark statistics as favourites, set
statistic alerts) please log in with your personal account.
If you are an admin, please authenticate by logging in again.
Learn more about how Statista can support your business.
Reserve Bank of India. (May 17, 2019). CAGR of customer usage of payment systems across India between FY 2015 to FY 2019 [Graph]. In Statista. Retrieved November 12, 2024, from https://www.statista.com/statistics/1028272/india-payment-system-usage-cagr/
Reserve Bank of India. "CAGR of customer usage of payment systems across India between FY 2015 to FY 2019." Chart. May 17, 2019. Statista. Accessed November 12, 2024. https://www.statista.com/statistics/1028272/india-payment-system-usage-cagr/
Reserve Bank of India. (2019). CAGR of customer usage of payment systems across India between FY 2015 to FY 2019. Statista. Statista Inc.. Accessed: November 12, 2024. https://www.statista.com/statistics/1028272/india-payment-system-usage-cagr/
Reserve Bank of India. "Cagr of Customer Usage of Payment Systems across India between Fy 2015 to Fy 2019." Statista, Statista Inc., 17 May 2019, https://www.statista.com/statistics/1028272/india-payment-system-usage-cagr/
Reserve Bank of India, CAGR of customer usage of payment systems across India between FY 2015 to FY 2019 Statista, https://www.statista.com/statistics/1028272/india-payment-system-usage-cagr/ (last visited November 12, 2024)
CAGR of customer usage of payment systems across India between FY 2015 to FY 2019 [Graph], Reserve Bank of India, May 17, 2019. [Online]. Available: https://www.statista.com/statistics/1028272/india-payment-system-usage-cagr/
