Razorpay report: Digital Payment surges in India in past 30 days by 23 per cent

Digital payment transactions in India have rebounded by 23 percent in the last 30 days, full-stack financial solutions company Razorpay said in a report on Monday.

The overall digital transactions declined by 12 percent in the last 101 days, compared to a 30 per cent drop in the first 30 days of lockdown, said the report titled "101 Days of Covid-19 Era: Impact On Digital Payments".

"The digital payments industry couldn't escape the pandemic crisis, we witnessed a dip of 30 per cent in online payments since the lockdown began, and now seeing a rebound of 23 per cent over the last 30 days is a sign of gradual revival of the digital economy," Harshil Mathur, CEO and Co-founder, Razorpay, said in a statement.

During the 101 days of lockdown, March 24-July 2, the online education sector grew by 23 per cent as extended lockdown has led to a rise in demand for online courses.

(Source: The New Indian Express)