Digital payment instruments such as retail electronic clearing, mWallet, and mobile banking, which has doubled in 2016-17, are expected to grow from 32 percent in 2013-14 to 62 percent in 2017-18, according to IDC.
IDC said digital payments in India will overtake cash and non-digital payments by 2022.
The percentage of transactions at POS will supersede the transaction at ATM by 2022, both in terms of volume and value.
