Diffusion of Digital Payments in India – Insights based on data from PhonePe Pulse

Mansi Kedia (), Aarti Reddy () and Sanjana Shukla
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Mansi Kedia: Indian Council for Research on International Economic Relations (ICRIER)

Indian Council for Research on International Economic Relations (ICRIER) Working Paper from Indian Council for Research on International Economic Relations (ICRIER), New Delhi, India

Abstract: Digitalisation of payments is a global trend, with the COVID-19 pandemic having triggered accelerated adoption. While India has been at the forefront of this transition, there is little understanding of how the Unified Payments Interface (UPI), India's real-time digital payment system, has diffused and the extent of its inclusive scaling within the country. The paper relies on state and district level data from PhonePe, the largest digital payments platform in India, to better understand the heterogeneity in patterns of diffusion across states and districts of India. Data from various other sources are used to examine how socio-economic factors correlate with diffusion.

Keywords: Digital Payments; Financial Inclusion; Financial Institutions and Services (search for similar items in EconPapers)
Pages: 46 page
Date: 2024-03
New Economics Papers: this item is included in nep-dev, nep-fle and nep-pay
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