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UPI recorded transaction volume of 10.8 bn in 2019: Worldline India Digital Payments Report
DELHI: In 2019, the four forms of online payments — debit cards, credit cards, Immediate Payment Services (IMPS) and Unified Payments Interface (UPI), recorded a combined transactions volume of over 20 trillion and combined value of over Rs trillion, reveals the annual Worldline India Digital Payments Report.
The report mentions UPI as the most preferred mode of payment in terms of volume and perhaps the fastest product to hit 1 billion transactions-a-month in 2019 since its inception in August 2016.
“It recorded a substantial transaction volume of 10.8 billion in 2019, a YoY increase of 188 per cent. In terms of value, UPI facilitated transactions worth Rs trillion, up 214 per cent from 2018,” reads the report.
In terms of value, IMPS led the roost, followed closely by UPI. It clocked Rs trillion, up 41 per cent from 2018. In 2019, it on-boarded 165 banks under its ecosystem bringing the total number of banks providing IMPS services to the customers of 559 banks by end of 2019.
Transactions volume passing through Bharat Bill Payment Central Unit (BBPCU) – NPCI recorded a YoY increase of 133 per cent. The transaction value witnessed an increase of 174 per cent, standing at Rs 186.8 billion.
The number of POS terminals deployed by merchant acquiring banks increased to 4.98 million in December 2019 from 3.59 million in December 2018, registering a YoY increase of 39 per cent. RBL bank, HDFC bank, State Bank of India, Axis bank and ICICI bank emerged as top five merchant acquiring banks to deploy POS terminals in 2019.
Grocery, restaurants, petrol stations, apparel stores and speciality retail emerged as the merchant categories with the highest volume and value of transactions in 2019 for Worldline India.
“They accounted for about 62 per cent volume of transactions and about 39 per cent value of transactions. It is interesting to note that while jewellery stores accounted for only 1 per cent of total volume of transactions, they accounted for 8 per cent of total value of transactions,” reads the report.
The top 10 states with the highest transactions in 2019 for Worldline India included Maharashtra, Karnataka, Tamil Nadu, Delhi, Andhra Pradesh, Gujarat, Kerala, Uttar Pradesh, Haryana, and West Bengal. Top 10 cities with the highest number of transactions in 2019 for Worldline India were Bengaluru, Chennai, Mumbai, Pune, Hyderabad, Delhi, Kolkata, Gurgaon, Coimbatore and Ernakulam.
Worldline India (WI) is wholly owned by Worldline SA, a leading payments company in Europe that is listed on Euronext Paris. Worldline entered India in 2010 with the acquisition of Venture Infotek followed by the acquisition of MRL Posnet in 2017.
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IICT partners with Gativedhi to bring studio production tools to students
New MoU lets students explore AI-driven production pipelines for AVGC-XR
MUMBAI: The Indian Institute of Creative Technologies (IICT) has teamed up with Gativedhi Technologies to give students a front-row seat to modern studio production. The collaboration will integrate Gativedhi’s AI-powered production intelligence platform, Shotrack, into academic programmes, letting students experience the workflow systems used by animation, VFX and gaming studios.
Under the MoU, faculty, students and researchers will get hands-on access to Shotrack through beta programmes, pilot deployments and academic evaluations. This will allow them to explore simulated production pipelines, understand asset management, track tasks and monitor schedules, essentially seeing how complex projects come together behind the scenes.
Shotrack is designed to tackle a key industry challenge: when multiple studios work on the same project, differing internal systems often create bottlenecks, slow approvals and complicate version control. The platform provides a unified production environment, enabling smoother collaboration across distributed teams while generating operational insights and predictive analytics to optimise crew allocation, forecast schedule risks and manage costs.
The collaboration also opens doors to Gativedhi’s wider ecosystem. Upcoming tools include StudioTrack, for studio operations management covering budgeting, recruitment and IT infrastructure, and WorkTrack, which measures workflow efficiency and team productivity across industries.
IICT plans to embed these tools into programmes covering animation pipelines, VFX workflows, gaming production and media project management. Students will also benefit from guest lectures, masterclasses, workshops, internships and research projects that connect academic learning with real-world studio practices.
IICT CEO Vishwas Deoskar, said the partnership provides “An environment where production pipeline tools can be explored, tested and refined while students gain insight into how large-scale productions are organised.”
Gativedhi Technologies founder & CEO Senthil Kumar added, “This collaboration introduces students to real-world studio management tools and helps us improve our platform with academic feedback.”
With Shotrack in classrooms, India’s future animators, VFX artists and gaming producers will get a taste of studio life long before they step into one.
