2021
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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India
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China
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Canada
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France
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Detailed explanation-1: -India led the world in real-time payment transactions in 2021, with 48.6 Bn such transactions, representing more than 40% of the global transactions, emerging from the country, according to a report.
Detailed explanation-2: -India, which is driving the global digital economy, has already clocked about 70 billion digital payment transactions in 2022-the highest in the world. This is a sharp increase from the corresponding figure of 44 billion in 2021, according to data collation portal Statista.
Detailed explanation-3: -Today, nearly six dozen countries on six continents support real-time payments, with $118.3 billion in transaction volume in 2021 - year-on-year growth of 65%, according to ACI Worldwide’s 2022 Prime Time for Real-Time report.
Detailed explanation-4: -Businesses have more flexibility and reduce the need for burdensome cash flow management.” Sam Murrant, lead analyst at GlobalData, said that developing economies such as India, which had fewer existing electronic payment instruments and relied more on cash, are fuelling the growth of real-time payments.