Rural India catching up with digital rush
Digital transactions account for 65% of total deals in rural areas as against 75% in cities
image for illustrative purpose
New Delhi: About 65 per cent of transactions by consumers in small-town India are now digital, while in larger cities this ratio was around 75 per cent, a new report showed on Tuesday. According to the report by Kearney India and Amazon Pay India, the digital payment revolution is being spearheaded by India’s millennials (aged 25-43 years) and Gen X (aged 44-59 years). Boomers (60 years and above) have higher card and wallet usage than the younger cohorts.
“India’s digital payment revolution is firing on all cylinders, propelled by consumers and merchants alike. With digital transactions penetrating even street vendors and smaller towns, we are at an inflection point,” said Vikas Bansal, CEO, Amazon Pay India.
The report is based on a survey spanning 120 cities, over 6,000 consumers and 1,000 merchants.
