A report published by McKinsey suggests that the COVID-19 pandemic has had a lasting impact on the payment sector in India. Implementation of new government policies to protect its citizens and rapid change of consumer behavior have changed the business environment, regardless of their size. Even though the overall payment revenue in India has shrunk, the percentage of payment made with non-cash methods has increased. Various digital payment options have been implemented rapidly in India, including the central bank-backed Unified Payments Interface (UPI) and other private payment methods.
Share of transactions made by cash in India in 2020
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McKinsey & Company. (October 1, 2020). Share of transactions made by cash in India in 2020 [Graph]. In Statista. Retrieved November 05, 2024, from https://www.statista.com/statistics/1218188/india-share-of-transactions-made-by-cash/
McKinsey & Company. "Share of transactions made by cash in India in 2020." Chart. October 1, 2020. Statista. Accessed November 05, 2024. https://www.statista.com/statistics/1218188/india-share-of-transactions-made-by-cash/
McKinsey & Company. (2020). Share of transactions made by cash in India in 2020. Statista. Statista Inc.. Accessed: November 05, 2024. https://www.statista.com/statistics/1218188/india-share-of-transactions-made-by-cash/
McKinsey & Company. "Share of Transactions Made by Cash in India in 2020." Statista, Statista Inc., 1 Oct 2020, https://www.statista.com/statistics/1218188/india-share-of-transactions-made-by-cash/
McKinsey & Company, Share of transactions made by cash in India in 2020 Statista, https://www.statista.com/statistics/1218188/india-share-of-transactions-made-by-cash/ (last visited November 05, 2024)
Share of transactions made by cash in India in 2020 [Graph], McKinsey & Company, October 1, 2020. [Online]. Available: https://www.statista.com/statistics/1218188/india-share-of-transactions-made-by-cash/
