Tap-and-pay card transactions are gaining ground rapidly, with industry insiders suggesting they account for up to a third of total card swipes, depending on the kind of merchant and the size of the transaction, as younger consumers increasingly opt for contactless payment.
While the Reserve Bank of India does not give segregated data on the share of contactless payments out of the total card transactions at offline merchant stores, industry estimates suggest around a 40% jump per year in contactless card payment over the last two years, industry insiders told ET.
