A report by the Boston Consulting Group and Google has stated that cashless or digital transactions will overtake cash transactions in the next seven years. India, which is touted as the world's fastest economy is predicted to add 300 million internet users by 2020. The report published by in the Hindustan Times says that non-cash transactions will grow from the current 22 percent to 40 percent in 2020, and to 59 percent by 2025. At present, cash circulation accounts for 18% of the country’s GDP which is much higher in comparison to UK and US having somewhere between 3.5 to 8 percent. The report comes in the wake of the advent of mobile wallet companies like Paytm, Freecharge, Mobiwik, Suvidha which are witnessing an exponential growth in the recent times. Paytm, which is arguably the biggest names in this sector, recently ventured into automobile sector after it partnered with Suzuki Motorcycle India Pvt. Ltd, reports Financial Express.