As online shopping escalates amid the country’s Covid-19 pandemic, nine in 10 Indians strongly believe digital wallets have made shopping easier and a large majority (98%) of those surveyed have made their purchases at an online retailer only in the past 12 months, a new global report showed on Wednesday.

A survey by global payment provider Blackhawk Network, which extracted the views of 13,000 global buyers, found that 69% of those surveyed would buy more frequently from retailers that accept digital payments.

India has become a forerunner in the adoption of mobile commerce compared to its global counterparts.

Over 54% of those surveyed said they would spend more money if they could use digital payment methods.

The results showed that 93% of Indian respondents prefer to regularly use digital wallets compared to the average of 55% of their global counterparts.

“The pandemic has intensified the demand for digital wallets as contactless payment is seen as the new normal. With India being a very cash-driven market, the digital payment industry is still very nascent, but rapidly evolving. “said Theresa McEndree, Global Chief Marketing Officer, Blackhawk Network.

“As we begin to take one more step in our economic recovery, the winners will be merchants who meet the daily digital payment preferences of today’s shopper,” McEndree said in a statement.

Increasingly, Indian consumers are adopting innovative ways to transact using their mobile devices.

Compared to other countries, India leads in the frequent use of all digital payment methods – PayPal, digital wallets, peer-to-peer applications, and barcodes or QR codes.

Contactless payment innovations like QR codes keep Indian businesses moving. QR codes, or barcodes on a mobile device, were used more frequently in grocery stores and online-only retailers.

“On average, the probability of scanning a QR in India is higher than in any other country. Twenty percent of Indian respondents used a QR code or barcode for the first time during the pandemic, and 69% say they use them more frequently. The survey noted.

In India, the use of peer-to-peer payment apps is almost as common among online-only retailers (49%) as it is in grocery stores (44%) and department stores (41%).

India, however, ranked last (13%) among all countries in choosing the “secure payment process” as the most important factor when making a payment.

Posted on: Wednesday July 07, 2021, 5:58 PM IST