Digital Wallets: Current and Future Use for Healthcare Payments in India
The digital wallet market size was valued at USD 1,043.1 billion globally in 2019 and is projected to reach about USD 7,580 billion by 2027, growing at a Compounded Annual Growth Rate (CAGR) of 28.2% from 2020 to 2027.
Also in 2019, India had 73.9 million people using digital wallets. The estimated value of mobile transactions across India in 2020 was INR 36.5 trillion, the equivalent of USD 4.9 trillion. The value is expected to more than triple by 2024.
The increasing prevalence of the internet and smartphones and targeted government initiatives has spurred growth in digital payments in India.