Over 50% of Indian internet users to use digital payments by 2020
More than half of all internet users in India will be making digital payments by 2020, according to the Digital Payments 2020 report by Google and BCG. The results revealed that 75% of merchants felt digital payments would increase sales, while 66% found it convenient. However, 50% of users are reported to find the technology hard to understand, and 50% have stopped using digital payments because they are not accepted everywhere.

The Digital Payments 2020 report by Google and BCG analyses the transformation in digital payments and its impact on the payment landscape in India.66% users like the convenience48% users are lured by offers75% merchants feel opting for digital payment will increase sales50% users find it difficult to understand50% users stopped using it because it is not accepted everywhere60% of digital payments value will be driven by physical points of sale50% of person to merchant transactions will be worth less than Rs 100SOURCE: Digital Payments 2020. The report is based on Nielsen’s qualitative and quantitative research with over 3,500 respondents, combined with BCG and Google’s industry intelligence