India Hooked – What’s Driving Contactless Payments In India?
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India Hooked – What’s Driving Contactless Payments In India?

Contactless payments saw a tremendous surge in recent years, their contribution to total face-to-face (F2F) transactions growing by more than 6x – from <2.5% in December 2018 to 16% in December 2021. This mode of less-touch payments in stores ensured consumer safety, a necessity since the pandemic. Additionally, the adoption of EMV chip cards has been pivotal for the growth of contactless payments, aided by supportive regulations that increased the contactless limit in India to Rs. 5,000 in 2021. The cohesive experience of contactless payments, with their inherent convenience, speed, and enhanced security features are a major reason for rapid adoption by consumers, merchants, issuers, and payment processors.
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