Bengaluru
Contactless payments witnessed a sixfold growth in the country in the last three years, as per a Visa and Worldline India whitepaper.
The highest adoption of contactless payments, observed in sectors such as quick service restaurants, pharmacies, food, grocery, etc., accelerated with the impact of the pandemic, found the study.
While 25% of all transactions at supermarkets were contactless in January 2020, these transactions rose to 31% by January 2022, it said.
The user footprint across the country also stepped up with metro cities leading the way, observed the study. Also, in 2020 and 2021, Delhi NCR, Karnataka, Gujarat, and Telangana had the highest proportion of contactless transactions and penetration, across both debit and credit cards.
Worldline India Digital Payments Report 2021 has shown that while cards contribute to 26% of all digital transactions, they generate 53% of the value of all digital commerce.
Ramakrishnan Gopalan, Vice President, Head of Products and Solutions, for India and South Asia, Visa said “The rapid adoption of contactless payments in the past few years is testament to the rise in acceptance of safer and faster forms of cashless payments across consumer segments.''
The key drivers of contactless growth have been availability, convenience, utility, and security, he added.
