Page 11 - Payment System Review -Q2 FY24

Digital payments constitute 82%, while OTC transactions covers only 18% of total retail transactions.
However, in terms of value of retail transactions, 15% are digital, while 85% are OTC transactions. All

these transactions are processed through banks, MFBs, and EMIs. Compared to the previous quarter,
the volume of digital transactions has increased by 18.2%, while OTC transactions grew by 4.1%.

Break-up of digital transactions by channel
reveals that 42% of the transactions were

conducted through mobile phone banking
and 35% through ATMs. Rest of 23%

transactions were conducted through/at
POS machine (10%), internet banking (9%),

e-wallets (3%) and e-commerce (2%). By
value, mobile phone banking contribution

was 54%, internet banking 26%, ATMs 18%,
POS 2% and rest of the channels collective

contribution was less than 1%.

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