Online grocery shopping saw growth of 9% in a sign of consumers becoming worried about running out of essential supplies, while government and utility bill payments increased by 30%. Razorpay said these developments signalled the precautionary measures that consumers are now taking by staying indoors, the Economic Times reported.
Razorpay said the current situation has triggered a 30% decline in online travel bookings, signifying a major downturn in the sector’s contribution to overall digital payments. Razorpay also reported that UPI (19.6%), net banking (11.5%) and wallets (10.3%) were the top three methods of payment during the period under review and that the number of online transactions increased the most in the cities of Ahmedabad (11%), Hyderabad (7%) and Pune (5%).
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