Digital transactions on rise

Vijayawada: As per recently released data by the Reserve Bank of India (RBI), digital transactions (payment cards, wallets, mobile banking etc) in our country have increased by 50 per cent in the past two years, according to Visa Group Country Manager for India and South Asia TR Ramachandran.

In a release on Tuesday, he said that while the rapid penetration of e-Commerce and mobile technology has complemented this change, there has been a growing preference among Indians in metro cities and mini metros alike to pay using debit cards.

He said that the circulation of debit cards in the country has increased by nearly 25 per cent in the past two years, resulting in gradual increase in PoS-based debit card use for daily as well as discretionary purchases.