Chennai ranks among top 5 in digital payment transactions in 2022: Report

Chennai has emerged as one of the top digital payment transactions cities in 2022 in the country, a report by payment services firm Worldline India said on Tuesday.

The capital city in terms of volume has made 14.3 million transactions with a value of USD 35.5 billion, Worldline India said in its report.

Bengaluru emerged on top with 29 million transactions worth USD 65 billion followed by New Delhi 19.6 million transactions worth USD 50 billion, Mumbai (18.7 million transactions worth USD 49.5 billion), Pune (15 million transactions valued at USD 32.8 billion), the report said.

"I am amazed every day to see the incredible progress we have made in the digital payments ecosystem over the past few years. The adoption of multiple payment solutions is a boon in our journey to realise the dream of a less-cash India," Worldline India CEO Ramesh Narasimhan said.

"In 2023 and beyond, Worldline will continue to collaborate with our merchants, partner banks, fintechs, e-commerce players and invest in the technology and infrastructure needed to build a more inclusive and open financial ecosystem," he said.

According to the report, in 2022, frequently visited physical merchant categories like grocery stores, restaurants, clothing and apparel, pharmacey, household appliances together accounted for over 43 per cent in terms of volume and about 40 per cent in terms of value, across the country.

E-commerce space, gaming, utility and and financial services contributed to over 85 per cent of transaction and 25 per cent in terms of value. Education, travel and hospitality sector accounted to 15 per cent in volume and 75 per cent in terms of value, it said.