Lockdown Effect: Online donations rise 180%, Digital payments of bills rise 73%
Online digital payment of electricity, water, credit card and phone bills has increased by 73% in lockdown. The results of the financial company, Razor Pay, analyze the results before and after the lockdown. According to the report, online payments have increased by 32 and 25% in IT-software and media-entertainment. Travel declined 87%, real estate 83%, food and beverage 68% and grocery shopping 54%.
Online donations to NGOs increased by 180 percent. In these 30 days, digital transactions in major cities like Ahmedabad, Mumbai and Chennai declined by 43 per cent, 32 per cent and 25 per cent respectively. Digital transactions grew the highest in Karnataka at 21 per cent. Maharashtra (16 percent) and Telangana (11 percent) were the biggest promoters of digital payments. In Gujarat, Madhya Pradesh and Tamil Nadu, the number of users using digital payment systems declined by 41 percent, 39 percent and 26 percent respectively.
Highest Payment on UPI
UPI leads the digital payments segment with 43 per cent. 39% paid by debit and credit card. 10% people resorted to NetBanking. However, the trend of digital transactions 30 days before the lockdown was seen, with transactions from UPI, Cards and NetBanking falling by 37 per cent, 30 per cent and 28 per cent respectively.
GooglePe leads the UPI app with 46 per cent share. PhonePe holds 29% and Paytm 10%. Paytm declined by 47%, GooglePay 43 and Phone-Pay by 32% in digital transactions.