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Has India become the Superpower in Digital Transaction?

Recently India has achieved milestones in Digital Transaction. India is not only the largest democracy in the world but also the largest giant in the field of “ Digital Transformation“. India has undergone a monstrous digital transformation in 2020. Innumerable users in India preferred and lapped avidly the use of “ Digital Payments” which made India the “ Global Guru” in “ Digital Transformation” in 2020.

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Digital Transformation and Digital Transaction

China and the US, the biggest competitors of India in the world are lagging far behind India in the niche of “ Digital Transformation“. India saw the highest spike ever in history since its inception in an online transaction during the first phase of Covid-19. India made a historical record by reaching 25.5 billion payments according to UK-based ACI. China ranked second(2nd) with 15.7 billion real-time transactions and South Korea stood third(3rd) with 6 billion transactions. The US was miles away behind and ranks ninth(9th) across the globe with only 1.2 billion transactions.

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The Superpower in Digital Transaction

This “ Digital Transactions and Payments” doesn’t mean that “ Paper or Cash Transactions” bade adieu to the monetary transaction. It is still in force and equally potent and popular among the people. But the Covid-19 pandemic played a pivotal role in the wide shift of position for India. 61.4% of transactions were made the old way in 2020.


It is surmised clearly that paper transactions will gradually and invariably lose their entity, share, and popularity by 2024 and India will obviously grow from strength to strength in the panorama of “ Digital Transaction and Payments”.

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The knowledge of the English Language has played a vital part in India’s Digital Transformation. All kinds of online E-wallet applications utilize English as their primary interface language. To facilitate Digital Transformation more, people can learn English by joining English Classes online or offline.

Indrajit ganguly

About the Author

Indrajit Ganguly

Hi! I am Indrajit Ganguly. People all across the globe know me by my professional nickname IG. I am a spoken English trainer in Kolkata and Blogger. I love to write blogs and articles that attract me.

17 thoughts on “Has India become the Superpower in Digital Transaction?”

  1. Pingback: Can India be Chip Superpower?

  2. Yes I completely believe that India has the power to digitalise in every sectors. Money is the thing which a person literally wants and to keep safe that money everyone is figuring out innovative ideas. Like that our present government has initiated the digital transaction and in which a mammoth percentage of young as well as old generations keep faith and start moving with this forward.
    I think after the year 2016 and after coming Jio into the market the digital community of India grew up. Metro cities like Bangalore, Delhi, every small shopkeepers there, have been using this facility since 2016 or 2017 (I stayed Bangalore for a month in 2017 for working purpose and I got this facility in every shops) .Like every thing has its cons so if I say only about Kolkata (because I live here) ,now in 2021 , there are many shops which don’t have the facilities of digital transaction. There should be many reasons and among all of these the trust issue is very vital. But amidst all of that, this digital transaction has grown up during the Covid-19 pandemic.
    Most importantly government has initiated a fruitful project so it’s government’s duty to look after cyber security so that every people keep the faith in the digital transaction thing as well as every citizen must aware of this thing very clearly.

  3. India is in progress. What the main problem is in its rural area. Because of the quality of internet. And Indian banking sector is very complicated. It does not like the US and the PRC.

  4. First of all Thank you sir for this topic .we know, there are lots of positive sides on digital transaction. But is it possible in such a country like India?
    Right now, India is a developing country. The first priority of our nation is to complete the unfinished agenda of the previous decade, providing the country with the modern infrastructure, rural amenities, social services, and connectivity that any developed economy needs. And the second, the most ambitious of the two, is to create jobs, wealth, and value to accommodate a young and aspiring population, remove poverty, and boost GDP growth. Right now, in our country, lots of area are facing electricity issues, and we are thinking about Digital transaction? How far i know,40% people has no bank account in my country. Even lots of people has zero idea about Internet, smartphone etc. Is it not a daydream for us ?
    We are from urban area. In that case, this is easy for us & we are gadget friendly. But what about the Senior citizen? Though i always prefer digital transaction rather than paying in cash. But the rural scenario is completely opposite. They are also part of our society. So ,to me it is quite impossible.

  5. This is a matter to feel proud that our country is turning into a digital country. But every coin has two faces. There are still many places in India where no electricity or net connection is present , people from this rural areas still face many problems . When the whole country turns into a digital country , they may face the biggest problems. Thanks for this article from which atleast we can know the progress of our country .

  6. So firstly thank you sir for writing an article about this most popular topic.
    Yes i agree that digital transiction is popular in India after the pandemic situation.It has grown so fast in 2020 ,when people can’t pay in cash for the covid situation. Most of the people prefers to pay their bill or anything digitally. So yess of course digital currency is most wanted and popular. I also prefer digital transictions over cash payments . We all know that it is more safe than carrying huge cash in your wallet . It is so obvious that new generation and today’s world will prefer the easiest thing.
    But we live in a country where a huge number of people can’t have their nominal daily food to survive. So for them digital currency is a dream.They don’t have any smart phone and those basic things which is important to continue the digital transictions.
    New technologies are good but everything has it’s good and bad sides. Sometimes digital transictions can’t work properly. So for that reason people faces lots of problem.

  7. Covid-19 really changed the dimensions financial transactions and communications. E-payment or online transactions have always been encouraged by the Modi Govt since it came to power in India. But, apart from a minor percentage, others refrained themselves from using e -payments for many reasons. First of all there is a typical tendency of associating imaginary fraudulence with online transactions; people seem to suffer from a fear psychosis factor .another pertinent reason is that many people, particularly senior citizens and those who don’t have that much education find it pretty comfortable to transact in old pen and paper mode.
    But Covid -19 and resulting lock down,norms to maintain “social distances ” compelled majority of the people to shift towards online transactions because of its quick and hassle free services. People also bought food items through Swiggy or Zomato and didn’t hesitate to pay in online mode only to avoid direct contacts.
    So, a pandemic helped in fulfilling Narendra Modi administration’s dream to make people switch over to online financial transactions from age old pen and paper transactions.
    Now, this type of financial system completely banishes the use of paper and indirectly reduces pollution by nullifying the demand of cutting down trees. Digital transactions also are supposed to bring a clarity in the financial network as it will force everyone to come under govt surveillance, instead of evading tax paying rules. But simultaneously this digital mode is apprehended to demolish personal spaces of citizens in the name of national security and will allow government agencies to intervene in their private lives. So while cherishing and nourishing the dream of being a digital super power, it’s the foremost responsibility of the government to ensure an equilibrium between its citizens’ privacy from administrative encroachment and also national security in general.

  8. I personally prefer digital transactions over cash payments for some reasons. But after ruminating it for sometime, we can easily say money is money, whatever method it is paid in.
    Everything has it’s pros and cons,but let me tell about cons first because the blog has been written in favour of digital transactions, so just to balance it,you know. LOL!
    The process of digital transaction that has been started very recently in India if we compare with other giant nations, is not ephemeral but it requires some prior materialistic resources. Firstly, a smart phone which is still a dream maybe to a large part of Indians. Secondly, despite living in a metro city, we can’t get digital transaction facilities in some stores if not in most of those. If we still have to carry cash after this facility came into existence,what’s the need of this facility then?
    Thirdly, some stores, sometimes ask for cash payment rather than digital one because it becomes hectic for them to check the concerned number attached to the UPI app everytime someone makes a payment even of a very trivial amount.
    Last but not the least, these payments depend on an application which can easily be manipulated no matter how much security the company is providing, so some people,mostly who are in their middle age, don’t believe in this, and we can’t say it’s their fault. Sometimes transaction gets delayed,remain in processing mode for 2-3 days which can easily be avoided if that has been paid in cash beforehand. Isn’t it?

    I am hungry of using new technologies, so I use it and I love it but that good old proverb ‘OLD is GOLD’ is humorously applicable in this context.

  9. No doubt we feel proud when we are talking about digital transactions. India became the leading position during the covid 19 situation and our country try to maintain the same rank. Nowadays people don’t need to go bank for doing the cash transactions, they can do this work from the house by using any reliable app. Thus we can save enough time and we can use this valuable time by doing other things. Such a lovely way to make our life comfortable and digital.

  10. Yes, that’s true, India is becoming the digital superpower of the world. The journey started when our PM started the ‘digital India’ campaign and people have started to take part in this. Now a days it’s become very easy to do payment through mobile phone via UPI ( Unified Payment Interface) Id or just the Mobile number, linked with the bank. The digital payment really become a superhero during the lockdown period, when people were in their home. There are some drawbacks in this system, as this process is totally virtual, a proper internet connection is very much needed, but still in our country there are some rural areas where there are no proper internet connectivity, even the process is not all user friendly, it’s really difficult for some old citizens as well as villagers who are not that much tech-savvy . So I think if Govt. is really meaning the words “digital India” then they should arrange some free training camps for people in the villages as well as for the people who are not very much familiar with the digital payment process and obviously strength the internet connectivities in rural areas, then only India will become ‘digital’

      1. Although I’m not a fan of digital transactions, I have to admit that in the current time and age it is an integral part of the world. With people earning more than before it is really hard and unsafe to carry cash with you at all times. The pandemic has also caused a practice of social distancing around India as well as the whole world. It is also comparatively easy to use and less time consuming. That is why it is important that online transactions be an available option to the public.
        India being a country with a large proportion of people belonging to the labour class it is very hard to implement such measures but with proper training , anything is possible.
        With India growing in economy as well as being experts in technology, these online transactions will be critical for the progression of the country.

    1. Covid 19 changed everything ana in that period people know how to use online transaction in tgat time all Bank and Atm are almost closed we don’t have other option so in tgat way india gain lot of power in online transaction now india has been develope…’s very powerful technology to transfer money ? in another account….. without going bank or atm ? within a second ….but if. People have no money in there account thn how people use all this technology government only focus to their features not to basic …….in india job veccency are very low so tgey have to look at this foundation how tgey earn money without money how we able to snd money…and it’s a very nice technology I must say because people afraid to carry huge amount of money rather than that they can easily use this upi , phone pay , Google pay .so they don’t have fare to loose there money in public or stole there money by there friends or thief…….cus previously I faced the same thing so it’s better to use online transaction …we don’t have to took burden ou our shoulder…and also it’s very easy way for older people who are not active to go atm or bank to transfer money ……and people also obidient to use this way

  11. Tilottoma Chakraborty Anandi

    Yes, I think India become the superpower in digital transaction. It was the dream of our Prime Minister Narendra Modi to make India cashless. His dream was to make ‘Digital India’ and as a result our country maintains its top position in current year also. Nowadays online payment method become very popular among the people. It is very beneficial also. Due to Covid-19 pandemic the use of online transaction become the mainstream of payment everywhere.

    1. Yes it’s completely true and it is our future. Why go to bank when we can send someone money by upi or by sending through the e wallet while sitting on the couch at my home? So our future is going to be cashless. It’s just a part of “Digital India” like the other sectors which are going virtual during this pandemic.

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