Payment Systems

Electronic Payments
Card Payments
Cheque Payments

Payment systems are essentially funds transfer systems which typically handle a large volume of payments of relatively low value in forms such as cheques, credit transfers and direct debits. They are generally used for the bulk of payments to and from individuals and between individuals and corporates.

The Board for Regulation and Supervision of Payment and Settlement Systems (BPSS), a sub-committee of the Central Board of the Reserve Bank of India is the highest policy making body on payment systems in the country. The BPSS is empowered for authorising, prescribing policies and setting standards for regulating and supervising all the payment and settlement systems in the country. The Department of Payment and Settlement Systems of the Reserve Bank of India serves as the Secretariat to the Board and executes its directions.

Payment systems are essentially funds transfer systems which typically handle a large volume of payments of relatively low value in forms such as cheques, credit transfers and direct debits. They are generally used for the bulk of payments to and from individuals and between individuals and corporates.

The Board for Regulation and Supervision of Payment and Settlement Systems (BPSS), a sub-committee of the Central Board of the Reserve Bank of India is the highest policy making body on payment systems in the country. The BPSS is empowered for authorising, prescribing policies and setting standards for regulating and supervising all the payment and settlement systems in the country. The Department of Payment and Settlement Systems of the Reserve Bank of India serves as the Secretariat to the Board and executes its directions.

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SUBJECT Variables
Retail payment systems are essentially funds transfer systems which typically handle a large volume of payments of relatively low value.
Payment Systems | India | 2010 - 2023 | Data, Charts and Analysis
Data and insights on Payment Systems in India - electronic, card, and cheque payments, ATM machines, POS terminals, and comparison with global peers.
2010,2011,2012,2013,2014,2015,2016,2017,2018,2019,2020,2021,2022,2023,actual,amount,amounts,analysis,annual,atm,card,cashless,chart,charts,cheque,cheques,compared,comparison,credit,current,data,debit,economy,electronic,figure,figures,global,graph,graphs,historical,india,indian,indicator,indicators,info,information,level,levels,method,methods,online,payment,payments,pos,rtgs,statistics,stats,system,systems,terminal,terminals,transaction,transactions,upi,value,values,what,world,year,yearly
01/04/2010 To 31/03/2023
Electronic Payments
Card Payments
Cheque Payments
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Characters : 136/225
Characters : 65/120
Characters : 150/160
Characters : 492/3500
To
Electronic Payments
Card Payments
Cheque Payments
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TOTAL PAYMENTS
These are typically payments between consumers, businesses and public authorities. They can be everyday consumer transactions, but also include, for example, salary and tax payments made by businesses.
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Transactions
Source: RBI
Value
Source: RBI
  • A total of 1,146,563 lakh payment transactions were executed in 2022-23 with a total value of ₹215,850,000 crore.
  • While the total count of payment transactions increased by 57.8% in 2022-23, the total value of payment transactions increased by only 19.2%.
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PAYMENT METHODS
Transactions
Source: RBI
Value
Source: RBI
  • 85.8% of the total payment transactions (983,695) in 2022-23 were done in the form of credit transfers (eg. IMPS, NEFT, UPI). Their value however comprised only 25.5% (₹55,012K crore) of the total payment value. Of these, 837K transactions were done via UPI with a total value of ₹13,915K crore.
  • 6.5% of the total payment transactions (65,812) in 2022-23 were done in through prepaid payment instruments. Their value however comprised only 0.13% (₹287K crore) of the total payment value.
  • Large-value credit transfers done through RTGS comprised only 0.2% of the total payment transactions (2,426) in 2022-23. However, their value comprised 71.1% (₹149,946K crore) of the total payment value.
  • The total number of transactions done exclusively through digital means (i.e. excl cheques) in 2022-23 was 1,139,476 with a total payment value of ₹208,687K crore.
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