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74% Indian consumers likely to prefer digital payments in 6-9 months: Report

Digital payment

Around 74 percent of the consumers in India would prefer digital payments in the next six to nine months, reveals a report by Capgemini Research Institute.

Digital payment

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The report further states that 57 percent of the Indian consumers were interacting on mobile apps before the outbreak of the pandemic and currently, around 67 percent consumers use the medium. The change in consumer’s behavioral pattern is attributed to coronavirus.

India has been ranked as highest in the use of digital touchpoints in the next 6-9 months, with strong augmentation in voice assistants and chatbots as emerging channels of interaction for banking and insurance division.

Globally, the average number of people preferring mobile app as a digital touchpoint during pre-Covid-19 period reported at 47 percent, and currently it grew to 52 percent after COVID-19. Around 55 percent is likely to use the digital medium in next 6-9 months.

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The study further stated that 40 percent of the Indian consumers were earlier using voice assistants and chatbots pre-Covid-19 as one of the chosen digital touchpoints for banking, and this has reported a surge to 52 percent currently, and a further increase to 59 percent is likely to be seen in the next 6-9 months.

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