Findings show increasing acceptance of assisted financial and digital services at semi-urban and rural outlets, such as kirana, medical, and mobile recharge stores.Representational photo
| Photo Credit: Tero Vesalainen
Local retailers in Telangana are leading the way in e-commerce, experiencing a 1100% growth in assisted e-commerce transactions, according to a data report released by PayNearby, a branchless banking network.
The report, titled ‘Atmanirbhar Bharat Digital Empowerment,’ highlights the increasing acceptance of assisted financial and digital services at semi-urban and rural retail outlets, such as kirana, medical, and mobile recharge stores. The findings are based on transactions across over 12 lakh retail touchpoints nationwide, comparing data from the financial year 2023-2024.
The report reveals that Telangana and Uttar Pradesh are the top two States with the highest growth in e-commerce transactions. Additionally, the top five states excelling in overall financial and digital transactions are Assam, Madhya Pradesh, Gujarat, Maharashtra, and Rajasthan. The top five States showing the most significant growth in Aadhaar-Enabled Payment System (AEPS) transactions are Meghalaya, Nagaland, Jammu and Kashmir, Assam, Andaman and Nicobar. Additionally, the report indicates a strong shift towards digital payments with the transactions on UPI QR codes at retail outlets growing by 84%.
“Rural commerce is undergoing a significant shift with aspirational customers getting access to various products at a nearby store. At PayNearby, we are leveraging the Distribution-as-a-Service (DaaS) architecture so that tech-shy customers can embrace the e-commerce revolution,” said Anand Kumar Bajaj, MD & CEO, PayNearby.
