Digital Payments in India: Analyzing the Cyber Landscape, 2017 | KPMG

Digital Marketing Researches & Reports

Digital Payments: Analyzing the Cyber Landscape in India, April 2017 | KPMG

Digital Payments | India

The digital payment landscape in India is undergoing a massive transformation. This returns mainly to the ease of doing payments and that reflected on 88% of respondents who prefer cashless payment over cash.with 48% using digital payment for more than 75% of their transactions.

Learn more about the state of digital payments in India in 2017:

  • 48% of respondents are using digital payment for more than 75% of their transactions.
  • Although there is a good adaption with digital payment, there are also some barriers such as security concerns (15%), lack of awareness (14%), and lack of strong ecosystems for cashless payments.
  • Just under half of the respondents (48%) prefer mobile devices for digital payment transactions, compared to only 14% for laptop/desktop.
  • There was unanimity (100%) from respondents that the endpoints/devices being used for digital payments (such as mobile phones, desktops, etc.) are the main reasons for security incidents because they are not secured.
  • The availability of strong cashless ecosystem (78%) and no additional charges for making cashless payments (74%) are top factors to enhance digital payments adoption.

Digital Payments Analyzing the Cyber Landscape In India, April 2017 KPMG

Methodology:

Data were driven from over 320+ participants across age groups and different sectors who are the end users of digital payments platform in India (68% males & 32% females).

KPMG

Founded in 1987, KPMG is a global network of professional firms providing three lines of services: financial audit, tax and advisory. KPMG has over 200,000 outstanding professionals working together to deliver value in 154 countries and territories.KPMG firms develop a rich understanding of clients' businesses and the insight, skills and resources required to address industry-specific issues and opportunities.
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