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The Economic Times
Tap-and-pay takes off; ADIA to trim Lenskart stake
The rise in tap-and-pay card usage in India, now making up approximately a third of card transactions, showcases a significant shift in consumer payment preferences. The increased efficiency in payment processes is pushing growth, even as UPI remains strong. Concurrently, the Abu Dhabi Investment Authority is offloading 2.3% of its stake in Lenskart, following SoftBank's divestment, suggesting strategic repositioning in the eyewear market.
MonitorConfidence: MediumShort term horizon
Published 11 Jun 2026, 02:51 UTC4 min read
Visit original article ↗Lead image — The Economic Times
Summary
TL;DR
- Tap-and-pay transactions have grown about 40% annually in India.
- Contactless cards now account for a significant share of card transactions.
- ADIA is selling 40 million shares in Lenskart via a block deal.
- ADIA retains a substantial stake worth around Rs 8,500 crore.
- The RBI allows pin-free transactions up to Rs 5,000.
Interesting facts
- Tap-and-pay adoption is driven by consumer demand for faster checkouts.
- A modest increase in the pin-free limit could further boost adoption.
- Lenskart's valuation saw substantial gains since its IPO in 2025.