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Various news articles was my source. But re-reviewing a lot were from 2020. I found a source from July that says AVG transactions are now up to around $20 equi
by ErrantX 5y ago
Various news articles was my source. But re-reviewing a lot were from 2020.
I found a source from July that says AVG transactions are now up to around $20 equiv. And the total transaction value is above card transactions now. Although the volume of transactions is 10x which is indicative.
My understanding is India is a very cash-based culture? So the idea of UPI replacing that seemed uncontentious?
Looks like there are 3/4 Billion dollars worth of card transactions each month though, so that's not insignificant. I wonder how much bigger the cash culture is in value, I'd assume quite large.
- programmer_dude 5y ago> India is a very cash-based culture? This is correct. This leads to a lot of black money floating in the market. I am not sure what's the volume of cash transactions though.