Consumers Ready to Swap Cash for Mobile Payments: Visa Survey


Visa keeps mobile payments safe by using token service to replace sensitive account information


When it comes to paying in a store, the majority of consumers in India are prepared to leave their cash at home and use mobile payments[1], according to a Visa poll.

The Visa Mobile Payments Readiness Survey, which asked 1,000 consumers about their attitudes towards using their mobile phones to make purchases, found that 93 per cent of respondents were interested to use electronic payments more often, and move away from using cash. The majority (89 per cent) were also aware that mobile payments can be used for small value everyday purchases. 


“Cashless payments are faster and more convenient than using notes and coins. In the last quarter, Visa saw nearly 75 per cent increase in payments volume in India and the number of processed transactions more than doubled. It is important that we maintain this cashless momentum and the strong interest to use mobile payments represents an opportunity to convert cash-carrying consumers over to electronic payments,” said Mr. T.R. Ramachandran, Group Country Manager, India and South Asia, Visa.

Relying on mobile payments could also be a time-saver for millions of consumers. Nine in ten (90 per cent) respondents say using electronic payments to make most of their daily purchases would mean spending less time at an ATM. More than a third (36 per cent) of respondents say they can save an hour each week if they did not have to queue for an ATM to withdraw cash while one quarter (25 percent) feel they can save more than two hours.

When asked whether convenience or security was a more important consideration when it comes to mobile payments, seven in ten (71 per cent) respondents cite security as a higher priority for them. Interestingly, men (73 per cent) are more likely than women (68 per cent) to rate security over convenience.

Ramachandran added, “While speed and ease of use are the major advantages of mobile payments over cash, payment security plays an equally crucial role in ensuing consumers feel confident when they reach for their mobile phones to pay. This is where our Visa Token Service adds tremendous value to the mobile payments experience by protecting consumers’ payment data during transactions.”

Visa Token Service is a technology that replaces sensitive payment account information found on payment cards, such as the 16-digit account number and card expiration date, with a unique code that can be used to safely process payments. By using a token, it ensures actual card account details are not exposed during a mobile payments transaction.

For information about the Visa Token Service and to learn how it works with some of the most popular mobile payments services, please visit:


[1] Mobile payments are smartphone apps that allow consumers to make payments by holding their mobile phone near a payment terminal at the checkout counter.


About the Visa Mobile Payments Readiness Survey

The online survey reached out to 1,000 consumers across India between January and February 2017. Respondents were aged between 18 to 55+ years old. The survey was commissioned by Visa and conducted by YouGov.

About Visa

Visa Inc. (NYSE:V) is a global payments technology company that connects consumers, businesses, financial institutions, and governments in more than 200 countries and territories to fast, secure and reliable electronic payments. We operate one of the world's most advanced processing networks — VisaNet — that is capable of handling more than 65,000 transaction messages a second, with fraud protection for consumers and assured payment for merchants. Visa is not a bank and does not issue cards, extend credit or set rates and fees for consumers. Visa's innovations, however, enable its financial institution customers to offer consumers more choices: pay now with debit, pay ahead with prepaid or pay later with credit products. For more information, visit and @VisaNews.