Online Shopping, Contactless Payments Here To Stay: Mastercard Survey
Money & Banking
More consumers are moving to e-commerce with concerns over hygiene and prefer contactless payments in the wake of the coronavirus pandemic, according to a recent survey by Mastercard.
Shopping in India has moved online as 86 per cent of people feel that hygiene concerns are here to stay, the survey revealed.
It also found that 49 per cent of Indians are planning to make more purchases online. At the same time, 68 per cent of Indian consumers think less in-store shopping is here to stay. This is the highest recorded across the markets surveyed.
Further, as many as 77 per cent Indians believe that the shift to contactless payments is here to stay, the survey noted.
“As Covid-19 alters our daily lives, consumers in India and across Asia Pacific are rapidly going digital with purchases of everything from groceries to movies in a shift that looks set to become a permanent habit after the pandemic passes,” the company said on Tuesday based on its own research.
Mastercard conducted the study between April 27 and May 17 with a total of 6,750 adults interviewed across 15 countries, including Australia, Brazil, China, Colombia, France, Germany, India, Italy, Spain, Japan, Mexico, Russia, United Arab Emirates, United Kingdom and United States.
It also found that in Asia Pacific, 46 per cent of the consumers say they plan to use cash less often, including 49 per cent in India.
“The shift is underway globally as almost six in 10 consumers say the move to digital payments is likely to be permanent and nearly half plan to use cash less even after the pandemic passes,” added Mastercard.
Published on
June 23, 2020
A letter from the Editor
Dear Readers,
The coronavirus crisis has changed the world completely in the last few months. All of us have been locked into our homes, economic activity has come to a near standstill.
In these difficult times, we, at BusinessLine, are trying our best to ensure the newspaper reaches your hands every day. You can also access BusinessLine in the e-paper format – just as it appears in print. Our website and apps too, are updated every minute.
But all this comes at a heavy cost. As you are aware, the lockdowns have wiped out almost all our entire revenue stream. That we have managed so far is thanks to your support. I thank all our subscribers – print and digital – for your support.
I appeal to all our readers to help us navigate these challenging times and help sustain one of the truly independent and credible voices in the world of Indian journalism. You can help us by subscribing to our digital or e-paper editions. We offer several affordable subscription plans for our website, which includes Portfolio, our investment advisory section.
Our subscriptions start as low as Rs 199/- per month. A yearly package costs just Rs. 999 – a mere Rs 2.75 per day, less than a third the price of a cup of roadside chai..
A little help from you can make a huge difference to the cause of quality journalism!
Support Quality Journalism
More consumers are moving to e-commerce with concerns over hygiene and prefer contactless payments in the wake of the coronavirus pandemic, according to a recent survey by Mastercard.
Shopping in India has moved online as 86 per cent of people feel that hygiene concerns are here to stay, the survey revealed.
It also found that 49 per cent of Indians are planning to make more purchases online. At the same time, 68 per cent of Indian consumers think less in-store shopping is here to stay. This is the highest recorded across the markets surveyed.
Further, as many as 77 per cent Indians believe that the shift to contactless payments is here to stay, the survey noted.
“As Covid-19 alters our daily lives, consumers in India and across Asia Pacific are rapidly going digital with purchases of everything from groceries to movies in a shift that looks set to become a permanent habit after the pandemic passes,” the company said on Tuesday based on its own research.
Mastercard conducted the study between April 27 and May 17 with a total of 6,750 adults interviewed across 15 countries, including Australia, Brazil, China, Colombia, France, Germany, India, Italy, Spain, Japan, Mexico, Russia, United Arab Emirates, United Kingdom and United States.
It also found that in Asia Pacific, 46 per cent of the consumers say they plan to use cash less often, including 49 per cent in India.
“The shift is underway globally as almost six in 10 consumers say the move to digital payments is likely to be permanent and nearly half plan to use cash less even after the pandemic passes,” added Mastercard.
Published on
A letter from the Editor
Dear Readers,
The coronavirus crisis has changed the world completely in the last few months. All of us have been locked into our homes, economic activity has come to a near standstill.
In these difficult times, we, at BusinessLine, are trying our best to ensure the newspaper reaches your hands every day. You can also access BusinessLine in the e-paper format – just as it appears in print. Our website and apps too, are updated every minute.
But all this comes at a heavy cost. As you are aware, the lockdowns have wiped out almost all our entire revenue stream. That we have managed so far is thanks to your support. I thank all our subscribers – print and digital – for your support.
I appeal to all our readers to help us navigate these challenging times and help sustain one of the truly independent and credible voices in the world of Indian journalism. You can help us by subscribing to our digital or e-paper editions. We offer several affordable subscription plans for our website, which includes Portfolio, our investment advisory section.
Our subscriptions start as low as Rs 199/- per month. A yearly package costs just Rs. 999 – a mere Rs 2.75 per day, less than a third the price of a cup of roadside chai..
A little help from you can make a huge difference to the cause of quality journalism!
Support Quality JournalismUSAA To Gift Vehicle To Military Family In The Chicago Area
USAA proudly announces the donation of four National Auto Body Council (NABC) Recycled Rides®. Read more
Former Army Maj. Gen. John B. Richardson IV Joins USAA To Lead Military Affairs
Two-star general and decorated combat veteran to bring forward-looking vision in continued service to military members a... Read more
Steeped In Tradition: USAA Kicks Off 124th Army-Navy Game Celebrations In A Massive Way, Honoring 250th Anniversary Of The Boston Tea Party
USAA honors history of rivalry game and the city, bringing giant bag of tea to Boston’s historic sites Read more
USAA Life Insurance Announces New Relationship With Trust & Will
USAA Life Insurance Company, a leading financial services brand for military members and their families, and Trust &... Read more
“Go Beyond Thanks:” New Survey Reveals We Should Do More Than Simply Thank Our Veterans For Their Service
Data Reveals Half of Military/Veterans Surveyed Feel Uncomfortable or Awkward When Someone Says the Phrase “Thank You ... Read more
USAA Expanding Education Program To Include Tuition-Free Support For Employees And Employee Dependents
Company also announces student loan 401(k) contribution match up to 8% Read more