Question
Which of the following statements is/are correct
regarding India's retail digital payment and e-commerce market? 1. India's retail digital payments are projected to double to 7 trillion dollars by 2030, according to a joint study by Kerney and Amazon Pay. 2. UPI transactions, introduced in 2016, saw a 138% growth from 2018 to 2024. 3. Cards and digital wallet transactions account for 46% of the digital transaction value in India.Solution
Statement 1 is correct because it accurately reflects the projection made by the joint study by Kerney and Amazon Pay about India's retail digital payments doubling by 2030. Statement 2 is correct because it details the growth in UPI transactions from 2018 to 2024. Statement 3 is incorrect because it misrepresents the data; cards and digital wallet transactions account for 10%, not 46%, of the digital transaction value in India.
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