88% of Indians use mobiles for payments to make purchases: Study

Photo: Shutterstock

As many as 88 per cent of Indians surveyed use a mobile device to make payments, way above the global average, according to a study.

The PayPal and IPSOS 'mCommerce Report', based on a survey conducted across 11 countries with about 22,000 consumers and 4,000 business respondents, examined how people shop and sell online.

In India, the respondent pool comprised of 2,000 consumers aged 18-74, who owned or used a smartphone and over 300 business influencers or decision makers who sell or accept payments online.

"88 per cent of the surveyed Indians use a mobile device to make payments, way above the global average of 71 per cent," the survey said.

It also said 45 per cent of merchants have made mobile optimisation a business priority in the next 12 months.

"Time saving and ease of transacting is the main drivers for mobile commerce," it said and added social commerce adoption is led by the young.

According to the study, apps are a popular way of transacting, wherein 98 per cent of Indian mobile shoppers pay through apps as against 90 per cent of the global average.

Bill payments and fashion are the key sectors where app purchases take place, it added.

It also said India has emerged as a forerunner in mobile commerce adoption in comparison to its global counterparts.

Dear Reader,

Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.

We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor

Business Standard is now on Telegram.
For insightful reports and views on business, markets, politics and other issues, subscribe to our official Telegram channel