Most people prefer to use mobile devices to make online payments.
Online payments are becoming more popular as more people have started to buy things online. These payments go through a safe gateway and people have started to trust these payment gateways. According to a recent report by PayPal and IPSOS, about 88 per cent of Indian consumers are using their mobile devices to make online payments.
The report further said that bill payments and fashion are the key sectors where app purchases take place and over half the volume of online sales are made through in-app purchases. Around 51 per cent of online sales volume has been made via in-app purchases, it added.
"88 per cent of the surveyed Indians use a mobile device to make payments, way above the global average of 71 per cent," the report said on Friday.
The report is part of a global survey carried out during 23 July and 25 August 2019. 'PayPal the IPSOS mCommerce Report' also said that 81 per cent of the merchants in India are optimised to accept mobile payments to meet the growing demand and responding to consumer preferences, against the global average of 63 per cent merchants.
As per the report, social commerce adoption has been increasing in India with about 57 per cent of the consumers having made purchased through this channel in the past six months, with over half of them doing so weekly.
