Traditionally, customers in India could pay for purchases using debit/credit cards or cash, but now there are many more options like mobile wallets, prepaid cards, online banking, buy now pay later, and cash on delivery. While debit/credit cards are commonly used for online purchases, cash on delivery remains the most preferred online payment method. Offering multiple payment options enables retailers to increase revenue by ensuring customers can pay however is most convenient for them.

1. THE EVOLUTION OF PAYMENT OPTIONS IN INDIA
Optimising Retail Revenue through
Payment Options
Technology has enabled a multitude of payment options. Traditionally, customers could pay using
their debit/credit cards; besides cash. Today, consumers have a range of payment options to
choose from - mobile wallets, cash cards, net banking, EMI, Cash on Delivery (COD), etc. Card
payments have become contactless giving even more convenience to customers. Having a wide
variety of payment options enables retailers to improve their revenue by making sure they don’t
miss out on sales for lack of payment options.
SOURCE:
Stratix & IHL Group
CashKaro.com - "Asia-Pacific Online Payment Methods: Second Half 2017"
BankCardBrokers - "E-Wallet Payment Processing - What Business Owners Need to
Know"
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AT LEAST 50% OF
WEB TRAFFIC
COMES FROM
MOBILE DEVICES
In India, direct debit and debit cards are
common payment methods for online
shoppers. But Cash on Delivery (COD) is the
most widely preferred payment option for
online shoppers
SUCCESSFULLY
DEPLOYING MOBILE IN-
STORE COULD
POTENTIALLY DRIVE-UP
REVENUE
ESTIMATED REVENUE
GROWTH FOR
RETAILERS IN 2018.
142%
Debit/Credit Card Cash on Delivery Net Banking
E-Wallet
6%
54%
30%
10%
THE IMPACT OF PAYMENT OPTIONS ON RETAIL REVENUE
50% 22%
OF MOBILE
PAYMENT USERS
HAVE E-WALLETS
55%
of mobile payments
are made by
smartphone
owners 18 - 34
years
70%
Moms account for
more than 70% of
household
spending
89%
say they are glued
to their
smartphones
44%
of retailers will offer
contactless
payments in the
next year
20%
Contactless
payments drove up
to 20% increase in
per customer retail
spend
30%
Avg. lift in total
spend in the 12
months post
contactless
adoption