The last few years have seen significant innovation in India’s payment ecosystem. As a result of the demand for more secure and faster payments, digital payments have grown exponentially in popularity and acceptance. With that, key factors contributing to their adoption have enhanced the payment’s ability to provide a seamless, easy-to-use, and complete customer experience. Even with the COVID-19 pandemic and its effects on the economy, there were 48 billion digital transactions in the calendar year (CY) 2020. In addition to technological advancements, convenience initiatives, and regulatory changes, this growth has been driven by new services and new players entering the payments ecosystem.