UPI top choice to make digital payments, 90% consumers favour digital transactions, says report

People in urban India now prefer to use more digital payments as compared to cash transactions for their day-to-day spendings. According to a survey by Kearney India and Amazon Pay India titled “How Urban India Pays”, over 6,000 consumers and 1,000 merchants, revealed a seismic shift in payment preferences. Per the report, 90 per cent of respondents favour digital payments for online purchases while nearly 50 per cent extend this preference to brick-and-mortar stores. Further, it added that Indian merchants have too adapted with a substantial 69 per cent of their transactions now conducted through digital channels.