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1/3 Indian Millennials prefer to use mobile alternative payments - study

Friday 24 June 2016 10:41 CET | News

Mobile and alternative payments continue to gain traction among Indian millennials, according to a new survey from ACI Worldwide.

The study was conducted with 400 employees in the Indian fintech space and relied on their shopping habits and payment preferences for in-store and online transactions.

Findings of the survey show that 67% of millennials purchased goods via their mobile device. For those who shop using their mobile device, they do so more frequently—and with lower transaction values—than non-millennials.

Moreover, more than a third of respondents prefer alternative payments (e.g. PayPal, AliPay) for mobile-initiated purchases. 23% prefer alternative payments for transactions originating via desktop—and 95% of those who use alternative payments expect their usage to remain or increase in the next 12 months.

In terms of the devices used for purchasing and their availability, consumers want to buy goods and services anytime, anywhere. Of those surveyed about their monthly shopping habits: 94 % shop online, 87% shop in-store and 65% shop from their mobile device.


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Keywords: ACI Worldwide, mobile payments, online payments, millenials, India
Categories: Payments & Commerce
Companies:
Countries: World
This article is part of category

Payments & Commerce






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