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Digital Payment Scorecard by MeitY : Key Points

MeitY Digital Payment Scorecard:

The Ministry of Electronics & Information Technology (MeitY) has released the list of “Digital Payment Scorecards”.

In the list, the State Bank of India (SBI) has topped for the third consecutive months.

  • The digital payment scorecard tracks the performance of the Commercial Banks on several digital parameters.
  • SBI maintained the top remitter bank by recording the highest UPI transaction volume which accounted for nearly Rupees 640 million.
  • SBI has also emerged as the largest issuer of debit cards.
  • It issued over 290 million debit cards with a 30% market share with respect to card spends and 29% share with respect to transaction volume.
  • Bank has also made steady progress with respect to increasing payment acceptance infrastructure.
  • SBI has processed the 6.36 billion transactions on its digital platforms which accounts for 67% of the total transaction volume of the bank.
  • The bank accounts for around 25% market share by the transaction volume of its mobile banking.
  • As per the SimilarWeb, the internet banking service of the SBI  was ranked first in terms of online traffic in the category of banking credit and lending.