[expand title=”More Actionable Insights” swaptitle=”Close”]
The above graph represents the number of debit card transactions at ATMs in India by month, starting from April 2011 to October 2019. With 859.23 million (8,592 lakh) transactions in volume, ATM withdrawals accounted for nearly 65.4% of the total debit card transactions taken place in India in October 2019. The country recorded nearly 8.2% M-o-M growth in the number of ATM transactions done using debit cards.
| Region | India |
| Source | Reserve Bank of India (RBI) |
| Graph ID | 462 |
| Note | India fiscal year starts from April 01 |
In December 2018, the number of debit card transactions at ATMs reached an all-time high of 914.31 million, with 8.8% month-over-month increase.
The number of cash withdrawals through debit cards in India increased significantly from 399.55 million in April 2011 to 452.61 million in April 2012, representing 13.3% YoY growth.
Interestingly, October 2013 was the very first time when the number of debit card transactions at ATMs crossed the 500-million mark in a month. About 538.65 million transactions valued at Rs 1,743.43 billion were carried out through ATMs. The country had been witnessing the significant growth in the debit card swipes at ATMs till demonetisation which forced Indians to prefer other payment options to buy goods and services. Surprisingly, the number of ATM transactions through debit cards declined over 30% in just one month – from a huge 802.06 million in October 2016 to 561.36 million in November 2016. While the transactions at POS increased from 140.59 million to 236.47 million during the same time.
Digital Transactions In India: Additional Information
The internet revolution has resulted in exploded adoption of digital methods of transactions worldwide. The users of Credit & Debit cards, mobile and internet nowadays are far more aware and digitally empowered with making financial transactions. In the last few years, however, digital transactions have branched out into multiple types of financial transactions.
Started with the use of Credit and Debit cards at POS in large retail stores, digital transactions industry has come a long way. The introduction of mobile wallets and UPI have transformed the whole digital transaction industry in India. RTGS (Real Time Gross Settlement), NEFT (National Electronic Fund Transfer), CTS (Cheque Truncation System), IMPS (Immediate Payment Service), NACH (National Automated Clearing House), UPI (Unified Payments Interface) and PPI (Prepaid Payment Instruments) are the main type of financial transactions that fall under the Digital transaction category.
Digital transactions save time and money, resulting in a better bottom line. Customer experiences are also enhanced (think of the convenience of eSigning versus having to print a contract, sign it, and then return it by mail or fax). And digital transactions improve tracking capabilities, which helps reduce errors.
The exploded adoption of smartphones, mobile apps and mobile internet has helped Digital transaction industry to grow at an unprecedented rate. With more than 500 million smartphone users, India is one of the largest countries by the number of digital transactions that are recorded every month.
The above graph is a part of Dazeinfo GraphFarm – the most trusted source of hundreds of thousands of market graphs. Our team of researchers mines millions of data points every month to bring the most updated and validated set of data points representing the comprehensive view in a graphical format. From mobile to e-commerce, from Retail to healthcare, from startups to SMEs we have carefully designed thousands of graphs for those who value and understand the importance of data visualisation.
[/expand]
