New Delhi, Apr 15 (IANS): Digital transactions processed at physical touch points such as grocery stores, fuel stations, clothing & apparel, pharmacies, restaurants and specialty retail together accounted for 80 per cent in volume and 60 per cent in value.

In the online space, financial services, government institutions and education sector accounted for about 20 per cent in volume and 75% in value, as per India Digital Payments Report 2020 released by Worldline.

Gaming, e-commerce (shopping for goods and services) and utility services contributed to about 80 per cent in volume and over 20 per cent in value.

The top 10 states with the highest transactions at physical touch points in 2020 for Worldline India were Maharashtra, Karnataka, Tamil Nadu, Kerala, Andhra Pradesh, Delhi, Uttar Pradesh, Gujarat, West Bengal and Telangana

The top 10 were Bengaluru, Chennai, Mumbai, Hyderabad, Pune, Delhi, Coimbatore, Kolkata, Ernakulam and Ahmedabad.

UPI remained the most preferred payment mode among consumers with a P2M market share volume of 41 per cent market share while its share of the value of transactions was 23 per cent. As far as PPIs are concerned, the combined volume of prepaid cards and wallets covered 26 per cent share in volume and 9 per cent in value.

As per the report, what is evident though is that cards still dominate payments. Credit and Debit card transactions accounted for a good chunk of the pie with 10 per cent and 23 per cent share in volume respectively and in value terms, they accounted for 28 per cent for credit cards and 40 per cent for debit cards.

In 2020, combined digital payments volume and value through Cards, PPI and UPI P2M was 18.86 billion and Rs 21.89 trillion respectively.

The total number of cards in circulation stood at 946.81 million as of December 2020. Outstanding credit cards increased by 9 per cent from 55.33 million in December 2019 to 60.39 million in December 2020 while outstanding debit cards increased by 10 per cent from 805.32 million to 886.41 million during the same period.

Out of the total cards in circulation, debit cards accounted for 94 per cent while credit cards represented a 6 per cent market share. Interestingly, 15 banks account for 95 per cent of credit cards issued while 40 banks account for 99% of debit cards issued.

Credit cards volume and value in 2020 stood at 1.79 billion and Rs 6.13 trillion respectively. The number of credit card transactions at POS accounted for 901.95 million while e-commerce was 891.52 million. In terms of value, consumers transacted Rs 2.86 trillion at POS and Rs 3.27 trillion at e-commerce via credit cards in 2020.