India poised to become world leader in real-time payments volume in next 5 years: ACI Worldwide Research

By ANI | Published: April 1, 2020 11:47 PM2020-04-01T23:47:50+5:302020-04-02T00:00:02+5:30

The need for digital payments has never been so palpable as during the COVID-19 crisis. While India continues to battle the pandemic by being painfully low on health resources, it is estimated that the nation will be leading globally when it comes to real-time payments volume.

India poised to become world leader in real-time payments volume in next 5 years: ACI Worldwide Research | India poised to become world leader in real-time payments volume in next 5 years: ACI Worldwide Research

India poised to become world leader in real-time payments volume in next 5 years: ACI Worldwide Research

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Mumbai, Maharashtra [India], April 1 : The need for digital payments has never been so palpable as during the COVID-19 crisis. While India continues to battle the pandemic by being painfully low on health resources, it is estimated that the nation will be leading globally when it comes to real-time payments volume.

The 'Prime Time for Real-Time' report by ACI Worldwide Research highlights that India is poised to lead the world in the next five years in real-time payments volumes as real-time payments transaction volumes are set to grow from 15.3 billion in 2019 to a staggering 52.8 billion in 2024.

What makes India a potential leader is its payments modernization initiatives in the wake of demonetisation, giving it an edge over other nations. The report comes from an industry-first research and analyses real-time payments volumes, growth and dynamics across 30 global markets.

( With inputs from ANI )

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