Digital wallets have made shopping easier 9 in 10 Indians feel. As online shopping expands exponentially in the face of the country’s pandemic. Nine in ten Indians strongly believe that digital wallets have made shopping easier. And the vast majority (98%) of those surveyed have shopped at an online-only retailer in the last year, a new global report revealed on Wednesday.
The study, conducted by global payments provider Blackhawk Network and based on the responses of 13,000 worldwide consumers. Also revealed that 69% of respondents would increase their frequency of shopping at shops that accept digital payments.
In contrast to its worldwide competitors, India has emerged as a leader in mobile commerce adoption.
Over 54% of respondents said that they would increase their spending if they could utilize digital payment methods.
According to the results, 93 percent of Indian respondents prefer to use digital wallets on a regular basis. Compared to the worldwide average of 55%.
“As contactless payment becomes the new normal as a result of the epidemic, demand for digital wallets has increased. Due to India’s heavy reliance on cash, the digital payment sector is still in its infancy, but rapidly developing “Blackhawk Network’s worldwide head of marketing, Theresa McEndree, said.
“As our economic recovery gains momentum, the businesses who cater to the daily digital payment preferences of today’s consumer will triumph,” McEndree said in a statement.
Consumers in India are rapidly adopting new methods of transacting through their mobile devices.
India significantly outperforms other nations in terms of regular use of all available digital payment options. PayPal, digital wallets, peer-to-peer applications, and barcodes or QR codes.
Indian companies are kept moving forward with contactless payment technologies such as QR codes. At grocery shops and online-only merchants, QR codes, or barcodes on a mobile device, were being utilized more often.
“On average, India has a higher probability of scanning a QR code than any other nation. During the epidemic, 20% of Indian respondents reported utilizing a QR code or barcode for the first time. And 69% reported doing so more often “As stated in the poll.
In India, peer-to-peer payment applications are nearly as popular at online-only shops (49%), as they are at grocery stores (44%), and department stores (44%). (41 percent).
India, on the other hand, scored lowest (13%) among all nations in terms of the importance placed on a secure checkout procedure’ while completing a payment.