The Most Popular Online Payment Solutions in India

Online payment in India

Nowadays, people are getting more and more comfortable with making online transactions. Online payment solutions have greatly improved throughout the years in terms of security and convenience, and it’s no wonder why Indians are starting to transact online more.

Worldline reported that India saw 20.57 billion online transactions in the second quarter of last year valued at around Rs 36.08 trillion

Amazon India, Flipkart, and Alibaba are some of the most popular e-commerce sites in the country.

The important thing is that whether it’s for shopping, paying utility bills, or gaming, there are now different ways to transact online. Here are the most popular online payment methods in India.


Unified Payments Interface or UPI is a system that powers multiple bank accounts into a mobile bank. Only participating banks apply and this is regulated by India’s central bank. It was developed by the National Payments Corporation of India in 2016 and has since then become a popular option.

 “UPI P2P accounted for 49 percent in volume and 67 percent in value but in terms of merchants’ transactions, UPI P2M emerged as the preferred payment mode with a market share of 34 percent in volume and 17 percent in terms of value,” Worldline’s report detailed.

While payment transactions are typically instantly processed with this option, bank withdrawals via UPI when playing at online gaming sites can sometimes take up to a week. Also, not a lot of offshore-based online businesses accept this option.

Still, in the second quarter of last year, UPI transactions reached a total of 17.4 billion or Rs 30.4 trillion in value.

Bank Cards

Even if UPI is India’s most popular way to transact online, many are still using their credit and debit cards when paying online. Worldline reports that card transactions hit 973.12 million for last year’s 2nd quarter and was valued at Rs 1.91 trillion.

“While UPI remains a dominant payment mode, adoption of credit cards is growing at a healthy pace it remains the preferred mode for high ticket size transactions,” Worldline’s report added.

India’s popular bank card networks are Visa, MasterCard, RuPay, and Discover.


Bank transfer is still a popular option in India, and this is known as net banking or Internet Banking. This is using a bank’s website or mobile application to transfer funds or process transactions.

Bank transfers that are person-to-person in India are usually processed instantly. However, if you’re playing online games with real money, it could take a few business days for payouts to be processed.

That doesn’t deter locals from using this option. It’s still one of the most convenient to use like 10CRIC, a sports betting and online casino site with the best payment methods in India are one of the popular online gambling sites in the country. Some of the most popular banking apps in the country are Kotak-811, HDFC Bank Mobile, Yono Lite SBI, and Axis Mobile.

Mobile and Digital Wallets

Digital wallets like PayPal, Skrill, and Neteller also have a lot of users in the country. The same goes for mobile wallets like Paytm, Google Pay, PhonePe, and Apple Pay.

Mobile and digital wallets function the same way. Both need an online connection so you can access your funds, but a mobile wallet is more accessible since you can use this on the go. Nowadays, mobile wallets have a QR feature.

All you need to do is use your phone’s camera to scan a QR code from a seller and complete a payment. Online platforms now use QR Codes too.


online payment in India

Cryptocurrencies like Bitcoin, Litecoin, Ethereum, and Bitcoin Cash are also booming in India.

About five years ago, it was as if no one cared about these digital currencies, but that has significantly changed especially in 2021 when the value of Bitcoin reached a new all time high which was around 65,000 USD per coin.

Times of India reported that as of August last year, the country has around 7.3% of cryptocurrency owners, and that makes India one of the biggest crypto markets. Based on this report, India ranked 7th.

Other countries where cryptos are also popularly used are Ukraine, Russia, Venezuela, Singapore, Kenya, and the US.

Overall, the estimated number of crypto owners in India is over 115 million. The most popular cryptocurrencies right now in the country are Bitcoin, Ethereum, Tether, BNB, USD Coin, Ripple, and Binance USD.

The most used crypto trading/exchange apps by Indians are Delta Exchange, WazirX, Binance, CoinSwitch Kuber, and Zebpay.

Related: How to Invest in Crypto for Beginners

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