look news india
The reach of digital payments in the country has grown a lot, but even today about 60 percent of the customers from tier III cities to small towns of the country do not use digital payment platforms on a daily basis. A report released on Tuesday claimed that more than 40 percent of customers use digital payments every day. It is also said that 45 percent of people use it once in two days.
Chase India Report
The Chase India report on the state of digital payments in India states that it continues to see the adoption of digital payments by customers in Tier III to VI cities of the country. The report identifies the key challenges faced by merchants and customers in adopting digital payment services.
That is why we use less
The report states that nearly half of the businessmen who do not use digital payments in rural India are unaware of the facility or service. In contrast, 94 percent of customers who do not use digital payments are aware of it but do not use it. In fact, customers do not use digital payments due to lack of internet connectivity, limited knowledge, distrust of online payments and service-related issues.
Status of digital payments in sales
According to the report, about 41 percent of merchants get less than 25 percent of their sales through digital payments, while about 15 percent of merchants get more than 50 percent of their sales through digital payments. This situation shows that there is still scope to increase the use of digital payments at the ground level. This report is based on a survey conducted among a total of 2,240 respondents. In which the opinions of 1,184 customers and 1,056 merchants were taken spread across 16 districts covering eight states in different geographical areas of the country.