1. Cash no longer king, e-shoppers prefer card payment: Survey

Cash no longer king, e-shoppers prefer card payment: Survey

A majority of Indians who make online purchases prefer making payments through credit or debit cards...

By: | Mumbai | Updated: March 27, 2015 8:48 PM
Visa, credit card, debit card, e shoppers, online purchase, e shoppers online purchase, online purchase cash, online purchase visa, online purchase cards, online purchase credit card, online purchase debit card, cash on delivery, card payment, cash on delivery vs card payment, online purchase news, online purchase payment, online purchase payment mode

The top three reasons for shopping online are convenience (82 per cent), price (78 pc), and enjoyment (76 pc). (Reuters)

A majority of Indians who make online purchases prefer making payments through credit or debit cards rather than cash-on-delivery or online banking modes, says a survey by financial services firm Visa.

“About 74 per cent of the respondents preferred using payment cards — credit, debit and prepaid — to pay for their online purchases, while only 51 per cent used cash-on-delivery, followed by 47 per cent who used net banking,” the survey said.

Online shopping saw significant growth in 2014, with 92 per cent of Indians having bought products from virtual stores, making an average of 25 buys, it said.

The use of payment cards is a noteworthy shift from cash, which has historically been the preferred medium for payment, it added.

The findings were based on a survey of 806 Internet users who access the web at least once a week and are aged between 18 and 55. Of the people surveyed, 75 per cent were from tier I cities and the rest from tier II towns.

“E-commerce is thriving in the country with Visa spend data showing 33 per cent growth in e-commerce payment volume in 2014. We are also seeing 49 per cent growth in the number of e-commerce transactions, which is consistent with our research findings,” Visa Group Country Manager (India and South Asia) T R Ramachandran said.

The top three reasons for shopping online are convenience (82 per cent), price (78 pc), and enjoyment (76 pc).

The study showed that Indians spend five hours online each day, slightly greater than the daily average of four and a half hours across Asia Pacific.

The top three categories for online purchases in the country emerging from the survey were – fashion (51 per cent), online bill payments (50 pc) and movie tickets (47 pc).

Personal electronics and computer equipment are the other leading online shopping categories, it said.

The findings also highlighted how online shopping habits vary, depending on the device used.

“Indians are among the most active online shoppers using their mobile phones with 66 per cent browsing shopping websites and 46 per cent actually making purchases,” it said.

Desktops and laptops continue to be the most preferred option for online shopping with a 92 per cent to 87 per cent conversion rate between browsing and purchasing online, respectively.

  1. S
    Sadasivan
    Mar 27, 2015 at 11:16 pm
    Cash is attacked,for Surveillance.that is,the globalists want to know where the "money" is going.They want them in equities and Credit cards.Cash is like Gold and Silver,Hence attacking cash is attacking these two PMs.besides in Cash the bankers lose their 'due"[fees]. plastic money,the user has to pay a charge and he may spent impulsively increasing his debt a Social Problem in the USA[Credit Card Debt]. I prefer cash. In short cash on NOT debt but Plastic Money is.ASnd the bankers want others to be enslaved via Debt.Same reason Bankers hate "OTHERS" possessing Gold and Silver.
    Reply

    Go to Top