AI: Revolutionizing India's Payments Landscape by 2030
AI technologies are driving significant transformation in India’s digital payments landscape. A PwC India report highlights the pivotal role of Gen AI and Agentic AI, alongside UPI and credit cards. By FY30, transaction volumes are expected to triple, pushing towards a resilient and inclusive digital payments ecosystem.
- Country:
- India
The introduction of AI technologies is set to revolutionize India's digital payments landscape significantly. A recent report by PwC India identifies Gen AI and Agentic AI as major factors propelling growth in this sector. Surveying over 175 senior leaders in fintech, the report outlines a transformative phase imminent for India's payment ecosystem.
According to 'The Indian Payments Handbook: 2025-30', UPI stands as the core of digital transactions; however, credit cards and innovations like the Bharat Bill Payment System are the next heralds of growth. Notably, 65% of participants view credit cards as the leading growth segment, with an impressive belief in their potential.
Predictions suggest India's transaction volumes will triple by FY30, a growth driven by technological advancements, regulatory support, and consumer behavior shifts. PwC underscores the need for balancing innovation with security and inclusion to craft a future-oriented digital economy.
(With inputs from agencies.)
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- UPI
- credit cards
- fintech
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- economy
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- transaction volumes
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