According to a survey conducted by ecommerce company ValuAccess, 47% of buyers use their credit card as the preferred mode for payment followed by 34% for cash on delivery and 17% through net banking. Over 60% of the respondents were below 30 years of age and 72% of them were male. Movie tickets and electronics and gadgets was what they bought most online.
Over 10% of the respondents were below the age of 18, the minimum age in India to acquire a credit card. A prepaid card can be bought from a regular grocery store or at a pharmacy by payment of cash and it can be used for payment online.
There are over 461 million active debit and credit cards in India but the country has one of the lowest card per transaction ratio of 0.1 per month. Effectively, only 1 out of 10 cards is used for an online transaction in a month.
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