MUMBAI: Connected consumers in India are increasingly using mobile-based payments according to the results from the latest Connected Life study from Kantar TNS. Post demonetisation and with a greater push by the government for adoption of digital payments, mobile payments have seen a sharp rise with 1 in 3 (35 per cent) connected consumers in India using it. The popularity of mobile payments in India is also revealed by the number of regular users, with 23 per cent saying they use mobile payments at least once a week.
The results of the study show that India is ahead by 35 per cent compared to other APAC countries like Indonesia’s 9 per cent, and Philippines’s 7 per cent, but still has a lot of catching up to do with the likes of China at 94 per cent and Singapore at 65 per cent where mobile payments have become a regular habit.
The popularity of mobile payments in India is set to rise further, as the future seems bright with 33 per cent of connected Indians claiming to prefer paying for everything using mobile phones in the coming months. This seems far more promising than other APAC countries like Vietnam, Indonesia and Philippines.
Kantar TNS executive vice president India Anusheel Shrivastava says, “The mobile payment space was already heating up with the launch of several mobile wallets by leading banks and aggressive promotional pushes for customer acquisition by the likes of Paytm. The trend gained momentum after demonetisation, as the scope for digital payments shot up leading to a sharp rise in adoption of mobile payments in India.”
The study also revealed that APAC leads the world in m-commerce. Connected consumers in Asia Pacific are one-third (33 per cent) more likely to make an online purchase on their mobile than via a desktop or laptop.
Southeast Asian countries are leading the way when it comes to m-commerce. The majority of people with internet connections in Asian markets such as Indonesia with 93 per cent, Thailand with 93 per cent, Vietnam with 86 per cent and India with 85 per cent, are using their mobiles to make purchases as they leapfrog traditional forms of online shopping and go straight to their phones.
