New Delhi, Jan. 29 -- Digital Payments have significantly increased in recent years because of coordinated efforts of the Government with all stakeholders. The total digital payment transactions volume increased from2,071crore in FY 2017-18 to18,737crore in FY 2023-24 atCAGR of44%, according to a datapoint from GoI's Ministry of Financial Services.

Given the growth, players in the fray are upping the ante and boosting their digital ability to tap into the growing volume of users. In a recent development, SBI Payments and Pine Labs have announced that it has expanded its strategic alliance, building on their long-standing 12-year partnership. SBI Payments is a Joint Venture formed between India's largest commercial bank, State Bank of Ind...