India: Cashless Transactions Surpass Paper Based Transactions
This is a key milestone - we had spotted a stat recently - India: Credit Card Spending Doubled In The Last Three Years - we spotted this one today -
"Paper based transactions in the last financial year i.e. 2014-15,cleared through cheques amounted to Rs. 85 lakh crore. While paperless transactions in the same year using credit cards, debit cards, NEFT and online wallets amounted to Rs. 92 lakh crore, reports Economic Times."
This is a significant milestone in India's ecommerce journey. We had written about the Credit Tsunami in India before - and recent Credit Card Statistics proved us right as well !