1) Electronic payments in India have grown significantly in recent years, with transactions growing 26.8% from fiscal year 2011 to 2012. Debit cards are the most common card used, with over 102 million in circulation. 2) Mobile banking is also growing rapidly, enabled by India's large mobile phone subscriber base. Services include SMS, IVR, mobile apps, and WAP-based access to bank accounts. 3) The Indian electronic payments market is projected to more than double in size from 2011 to 2012, indicating continued rapid growth in digital payments and reduced reliance on cash.