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Indian consumers prefer online digital payment during festive seasons

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ACI Worldwide and YouGov’s research report on digital payment methods in India revealed that two out of five (41%) Indian shoppers prefer digital payment during festive seasons. 25% of them pay with cash and 23% opt for credit or debit cards. 33% of shoppers find online transactions safe, while COD with 35% remains on the top of the list. Consumers are less concerned with payment frauds as only 24% of people are skeptical about online payments. The National Payments Corporation of India claimed that 3.65 billion transactions worthy of INR 6.54t were induced by Unified Payments in September, setting the highest record for transaction value and volume.

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Consumer Goods industry will surpass $15T globally by 2025. However the old business model of mass distribution is about to become obsolete. Digital Transformation, Millennials and Gen Z effect, Direct to Consumer and Post-Covid World are going to reshape the winning formula for the new era CG industry. Our weekly newsletter covers global innovations and disruptions in CG industry.

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