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.
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.
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”.
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.
About the Author
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.