Strategic Business Opportunities and Technological Tailwinds
Digital Payment Trends
FY22-FY25 CAGR: 50%
8
21
1
41
11
Growth of UPI
In INR trillion
85
131
188
255
327
18-19
19-20
20-21
21-22
22-23 E
23-24 E 24-25 E
25-26 E
FY22-FY25 CAGR: 132%
Growth on BNPL
3,191
In INR billion
1,076
643
363
192
2,011
Other Key Trends
RBL BANK
80
Years In Your Service
ESTARUSHED IN 1943
UPI has had a tremendous impact on the Indian
payments landscape. Simple mobile-based
accessibility, ease of use and changes in consumer
behaviour due to the pandemic have led to a
significant increase in UPI transactions.
UPI is expected to grow phenomenally by FY 2026
as below -
•
Expected to reach Rs 327 Trillion
Transaction volume to surge to 169 billion at
CAGR 50%
BNPL has seen tremendous growth across the
world over the last few years. In India, it has
emerged as one of the preferred modes of
payment among millennials.
BNPL is expected to grow phenomenally by FY
2026 as below -
•
•
•
Expected to reach Rs 1,391 billion
Expected user base to reach upwards 15 mil
Transaction volume to surge to 2 billion at
CAGR 67%
•
BBPS
-
It has contributed substantially to the overall
growth of digital payments. Current BBPS value foy FY 22-
23 stands at Rs 1,230 billion and is expected to grow 4X to
Rs 4,701 billion by FY 2025-26.
Cross border - International payments act as a catalyst
for cross-border trade and investments, and have played
an important part in shaping up the Indian economy..
technological advancements are transforming cross border
payments, inward remittance has a GAGR of 5% since
2016 and is expected to grow 150% by FY 2035-26.
Tokenisation Tokenization refers to replacement of
sensitive data by surrogate value known as a token. Scope
of tokenisation has been expanded with additional use
cases like laptops, desktops, wearables (wristwatches,
bands, etc.), internet of things (IoT). As the number and
usage of wearable devices across segments increase,
tokenisation will help propel small-value transactions for
in-store and transit payments.
NETC - With FASTag having been made compulsory for all
four wheelers, NETC is also expected to grow
exponentially in the coming years, especially with the
opening up of new use cases like parking and fuel
payments.
20-21
21-22
22-23 E
23-24 E
24-25 E
25-26 E
Sources: PWC India
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