Covid-19: Online Donations Rise By 180 Percent And Digital Payments Of Bills Rise By 73%.
Online payment of electricity, water, credit card and phone bills has increased by 73 percent 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 percent in IT-software and media-entertainment respectively. The travel industry has seen a decline by 87 percent, real estate by 83 percent, food and beverage industry by 68 percent.
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 percent, 32 percent and 25 percent respectively. Digital transactions grew the highest in Karnataka at 21 percent. Maharashtra (16 percent) and Telangana (11 percent) were the biggest promoters of digital transactions. 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.
UPI leads the digital payments segment with a whopping 43 percent while 39% paid by debit and credit card. 10% of people have resorted to Internet Banking. However, 30 days before the lockdown the trend of digital transactions was seen as transactions from UPI, Cards and Internet Banking falling by 37 percent, 30 percent and 28 percent respectively. GooglePe leads the UPI app with 46 percent share. PhonePe holds 29% and Paytm holds 10%.
