Online transactions grew 80% in 2020 driven by strong uptake from Tier II, III cities: Razorpay


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Online transactions grew 80% in 2020 over the previous years, driven by strong adoption of digital transactions in tier II and III cities, according to a report by fintech firm Razorpay. The report pointed that UPI transactions outgrew cards, netbanking and wallets with 120 per cent growth in 2020 and became the most preferred mode of payment, especially for tier II and III cities.