The market of digital payments has been booming at a quite high pace recently. Especially during this time of pandemic crisis, the new users who started to use digital payments have more than doubled as it enables people to make payments without having any contact and by maintaining social distancing which is extremely essential currently for cutting down the chain of viral spread.
 Comparing to any other countries in the world, the digital payment's boom has been at the top in India compared to all the other countries in the world. According to reports the digital transactions in India has rose by 55% in India the previous year while the other countries following with the top digital transactions were China and Indonesia with 48% and 23% transactions.
Some of the main attributes for this growth of digital transactions in India is because of the high level of population in the country along with having a deep penetration of mobile devices. Some of the digital payments app that came to India introducing digital payment includes Paytm, GooglePay (introduced with the name Tez) and Phonepe.
The main attraction that drove people in India to install and use GooglePay was the first offer of giving Rs 51 to the one who downloads the app with the link sent to him by any of the user. In this case the user receives money as soon as the new user who downloaded the app using his link makes a payment using the app and soon after that both the new user and the old user who had sent the link would get a reward of Rs 51, which would be credited into both their respective accounts.
There was also a similar offer given by Phonepe as well while they introduced the app in India. Although it was not as famous as Google Pay in the beginning it also gained notice from the public as time passed by. These two apps were the major competitors for Paytm which came into the Indian market from 2010 and this made Paytm to introduce new features for giving a tough competition with its new competitors.
The digital payment market in India is expected to grow further at a high pace if this trend still continues after the pandemic. The Digital India initiative of the government has also aided in boosting tremendously the digital payments of Indian market.