The Covid-19 pandemic and the lockdowns implemented in its response have had a fairly positive impact on the EdTech sector of India, as per the digital expenditure survey of the online payments solution provider –PayU.
PayU considers the year-on-year change in digital payments and mapped the impact of Covid-19 and the lockdowns. The company stated that EdTech has emerged as winner, with a 44% increase in expenditure and a 78% increase in the number of transactions, within this period.
PayU elaborated that the most likely explanation is the increasing number of students shifting to online education as well as professionals upskilling themselves as the worked from home.
According to the ‘PayU Insights Report’, when comparing the April-May 2020 period against January-March 2020, the number of transactions for EdTech increased by a whopping 69%. But due to a marked drop in course prices introduced as a response to the surge in demand, the average ticket size reduced by 19%, even though the EdTech segment witnessed growth.