fbpx
  • Topics
    • AI & Big Data
    • AR & VR
    • Blockchain
    • Clean Technology
    • Content & Games
    • Cybersecurity
    • Enterprise & SaaS
    • Gadgets & Electronics
    • Health & Bio
    • FinTech
    • IoT
    • Transportation & Logistics
    • Marketplaces & E-commerce
    • Ecosystem
    • Robotics
    • Investments
    • EdTech
    • Featured
  • Deals
    • Private Equity
    • Venture Capital
    • IPO & Markets
  • Interviews
    • Startup Investing
    • Fundraising
    • Product Launching
  • MORE
    • Events
    • Startups Advice
  • Submit an Article
  • REGISTER
  • login
No Result
View All Result
No Result
View All Result
Home Featured

Digital payments trust hits 60% in India this year

Team AsiaTechDaily by Team AsiaTechDaily
01 November 2021
in Featured, FinTech
0
Digital Payments
15
SHARES
Share on FacebookShare on Twitter
Bookmark (0)

Please login to bookmark

No account yet? Register

Growing trust in digital payments by Indian consumers is recently reflected in the rise of the usage of digital payments multiple times per week for festive season purchases, according to a new study.

The study conducted by YouGov and ACI Worldwide, a global provider of real-time digital, payment software, and solutions, revealed that 60% of consumers had used digital payments platforms including eWallets and UPI. This shows growth compared to the 57% recorded last year.

Ankur Saxena, country leader, South Asia of ACI Worldwide, said the growth is “encouraging’”

“This reinforces the fact that digital payments are becoming an even more integral part of our daily lives, as India continues to shine as a global leader in real-time, digital payments,” Saxena said in a statement.

The latest research showed that digital payment tops the other payment method of choice for festive season spending at 41%.

This is followed by cash at 26% and debit and credit card payments at 23%.

Only 6% of respondents in the study have no intention of using digital payments this festive season, dropping from 9% a year ago.

There’s also a decreasing concern over digital payments fraud with 24% of respondents identifying it as a concern compared to 30% last year.

Most respondents considered digital payments the most secure way to pay. This is 9% higher compared to the 24% registered in 2020. It is just behind cash-on-delivery at 35%.

Unified Payments Interface (UPI) generated 3.65 billion transactions worth Rs 6.54 trillion in September, according to the latest data from The National Payments Corporation of India (NPCI).

The recent record broke all previous records both in transaction volume and value.

Monthly transactions on the UPI platform have also nearly doubled since a year ago when there were 1.8 billion transactions worth Rs. 3.29 trillion monthly.

The survey involves was 1,001 adults as samples. Fieldwork was undertaken in October 12-15, 2021. The survey was carried out online and the figures have been weighted and are representative of all Indian adults (aged 18+) in the following Tier 1 metro areas: Mumbai, Delhi NCR, Chennai, Kolkata, Bangalore, and Hyderabad.

Previous Post

Indonesia’s NAMA Beauty seals $5m funding, gains new partnerships to scale operations

Next Post

Vietnamese edtech startup eJOY raises seed fund from ThinkZone Ventures

Related Posts

edit post
WhyQ
Ecosystem

WhyQ secures $1.4m to help SMEs compete in digital economy

January 30, 2023
edit post
Eazy Digital
Featured

Thai insurtech startup Eazy Digital raises $850K in Seed funding

January 30, 2023
edit post
Grab Kandal
Featured

Grab appoints Philipp Kandal as Chief Product Officer

January 30, 2023
edit post
Holmusk
Featured

Healthtech startup Holmusk raises $45m to continue rapid expansion

January 23, 2023
edit post
Xendit
FinTech

Indonesia’s Xendit enters Malaysian market to offer hyperlocal payment solutions

January 23, 2023
edit post
Jumppoint
Featured

Hong Kong-based logistics platform for e-commerce merchants Jumppoint raises $6.5m in series A

January 16, 2023
Next Post
edit post
eJOY

Vietnamese edtech startup eJOY raises seed fund from ThinkZone Ventures

Discussion about this post

No Result
View All Result

Follow Us

FREE NEWSLETTER




Copyright © 2023 AsiaTechDaily.com| About Us | Seed accelerator| Terms of Use| Privacy Policy| Cookie Policy Contact : [email protected] | DMCA.com Protection Status | trusted by Wimgo

No Result
View All Result
  • Topics
    • AI & Big Data
    • AR & VR
    • Blockchain
    • Clean Technology
    • Content & Games
    • Cybersecurity
    • Enterprise & SaaS
    • Gadgets & Electronics
    • Health & Bio
    • FinTech
    • IoT
    • Transportation & Logistics
    • Ecosystem
    • Marketplaces & E-commerce
    • Robotics
    • Investments
    • Featured
  • Deals
    • Private Equity
    • Venture Capital
    • IPO & Markets
  • Interviews
    • Startup Investing
    • Fundraising
    • Product Launching
  • MORE
    • Events
    • Startups Advice
  • Submit an Article
  • Forums
  • Jobs
  • REGISTER
  • Login

Copyright © 2023 AsiaTechDaily.com| About Us | Seed accelerator| Terms of Use| Privacy Policy| Cookie Policy Contact : [email protected] | DMCA.com Protection Status | trusted by Wimgo

We hope you enjoy our content, May you please give us Feedback regarding our website!

Single Post Feedback