India Digital Payments Report Q3 2022

Current Context: Financial services company, Worldline India, released a report titled, “India Digital Payments Report Q3 2022”.

• The report mentioned that in Q3 FY23 (July-September 2022), more than 23 billion transactions were made that were worth INR 38.32 trillion.
• These payments were made through prepaid payment options such as:

1. Mobile Wallets
2. Debit Cards
3. UPI

• It mentioned that UPI-based transactions dominated both in terms of volume (19.65 billion) and value (INR 32.5 trillion).
• According to the report the top 3 states with the highest transactions at physical touchpoints are:

1. Maharashtra
2. Karnataka
3. Kerala

• Also, the top 3 cities with the highest transactions at physical touchpoints are:

1. Bengaluru
2. Hyderabad
3. Chennai

• The report suggested that the POS transactions accounted for INR 595.4 million while the e-commerce transactions for the period accounted for INR 311.6 million.
• Worldline India was established in 1997 with its headquarters in Mumbai. The current Executive Chairperson of the company is Deepak Chandnani.

Question:

Q.1 According to the “India Digital Payments Report Q3 2022”, how many digital transactions were made during Q3 FY23?
a. 13 billion
b. 20 billion
c. 23 billion
d. 27 billion