India has surpassed the United States to become the world's largest market for tokenised online card payments, driven by a surge in digital transaction volume and regulatory push for secure payment rails.
Suresh Sethi, Group Country Manager for India and South Asia at Visa, confirmed that more than 900 million payment tokens are now in circulation across the country.
Recent data indicates that online orders grew 16% year-on-year in the first five months of the year, suggesting that the volume of transactions requiring secure digital handling is accelerating.
The milestone reflects a rapid adoption of tokenisation technology, which replaces sensitive card details with unique digital identifiers to reduce fraud risk in e-commerce transactions.
The development underscores the maturation of India's digital payments ecosystem.
Tokenisation has become a critical infrastructure layer as the country's e-commerce sector continues to expand.
Recent data indicates that online orders grew 16% year-on-year in the first five months of the year, suggesting that the volume of transactions requiring secure digital handling is accelerating.