Indian consumers keen to adopt digital payment solutions: Visa survey


78% respondents likely to embrace new forms of payments while 86% find ease of transition driving the digital adoption


Visa, the world’s leader in digital payments, today announced an independent study, conducted in collaboration with YouGov, examining the consumer sentiment around digital payments in India. The study observed high inclination amongst consumers (78%) in favour of adopting newer modes of digital payments, indicating increased awareness, acceptance and adoption of digital forms of payments among Indian consumers. 

One of the factors that surfaced as the key driver of this adoption was the ease of transition to digital form factors of payments, as stated by 86% of the respondents.  Amongst those who have used less-cash currently than before, 70% state that the main reasons to transit away from cash include – convenience, efficiency and speed of transaction offered by digital modes.

This survey was aimed at understanding the pulse of the Indian consumer and their views towards the transition to a digital economy. The study indicates that amongst people for whom this transition was tough:

  • 41% find that merchants they go to only accept cash.
  • 39% are worried about the security of their transactions.
  • 52% find insufficient modes of payments as a key barrier.

Significantly, the majority of consumers (81%) value security more than convenience when it comes to making payments online. This is similar across the board - gender, ages, household income and even education levels.

The survey, which was conducted across three countries - India, Sri Lanka, and Bangladesh - also shows that millennials are more likely to use digital payments for everyday essentials like shopping at supermarkets, online, department stores, fast food restaurants, taxis/cabs etc. than other generations.  The study also shows that the inclination towards embracing digital is higher amongst those from a higher income household. 

Unveiling the findings, TR Ramachandran, Group Country Manager, Visa, India & South Asia, said, “More and more consumers are becoming digital natives, expecting a differentiated experience, oriented towards convenience and practical usability. IoT, contactless payment technology, enabling simplified, secure and faster eCommerce experience are some of the trends defining the next wave of the future of payments. The study shows that while consumers are steadily embracing digital payments, they are also seeking secure payment forms. At Visa, we constantly innovate and evolve our products and services to provide seamless and secure digital payment options that will make transition to a digital economy a frictionless and trusted process.”

According to the survey, cash usage continues to decline marginally from around 33% last year, to 31% currently, and is expected to come down further to around 25% over next 12 months. On the contrary, digital payment forms like card usage continues see uptake, rising from around 34% last year to over 36% currently, and likely to touch 39% in next 12 months. 

While there is a visible shift in consumer spending patterns from cash to digital modes, there is also a clear and willing adoption of this transition among consumers today. People across geographies realise the benefits of adopting digital modes of payment and are open to experimenting with newer form factors of payments. There is a slow but steady change in the consumer mind set paving the way to a digitally enabled economy.



The study, which sampled people in India, Bangladesh and Sri Lanka this October, was conducted by market researchers YouGov on behalf of Visa using active sampling, a method that focuses on ensuring the quality of the sample, rather than the quantity of the respondents. The research probed over 2000 people across the Indian Subcontinent. Commissioned by Visa, the online survey was conducted independently by YouGov to find out the sentiment of the consumer adoption of digital payments and user habits in the region.

About Visa

Visa Inc. (NYSE: V) is the world’s leader in digital payments. Our mission is to connect the world through the most innovative, reliable and secure payment network - enabling individuals, businesses and economies to thrive. Our advanced global processing network, VisaNet, provides secure and reliable payments around the world, and is capable of handling more than 65,000 transaction messages a second. The company’s relentless focus on innovation is a catalyst for the rapid growth of connected commerce on any device, and a driving force behind the dream of a cashless future for everyone, everywhere.  As the world moves from analog to digital, Visa is applying our brand, products, people, network and scale to reshape the future of commerce. For more information, visit, and @VisaNews.