Data from: https://www.rbi.org.in/Scripts/Statistics.aspx
1. Of UPI/Credit Cards and Debit Cards, means mostly associated with Consumer Spending, which were the most reactive to 2nd Covid Wave in India
We see following trends in diff pmt methods coincinding with second covid wave:
Pmt Method | Trend | |
---|---|---|
Value | Volume | |
UPI | Slight dip/ stagnation | Slight dip/ stagnation |
Credit Cards | Significant Dip | Significant Dip |
Debit Cards | Big Dip | Big Dip |
Prepaid Cards | Postivie Growth | Slight Growth |
Let us examine each of them seperately: