Last updated : January 23, 2019 7:42 pm
Mastercard Survey says Indian consumers feel secure shopping online across APAC region
Speaking on the findings, Porush Singh, Country Corporate Officer, India and Division President, South Asia, Mastercard said, “It is very encouraging to see Indian consumers feel increasingly secure when shopping online. This aligns very well with Mastercard’s strong commitment to develop a safe and secure network for the Indian payments ecosystem.” He further added, “The Internet of Things is creating a more digitally-driven and digitally-connected world, with an estimated 300 million smart phones in use currently in India. Over the past three years alone, Mastercard has invested Rs 6700 crores towards developing new technologies that balance the need for increased security with the desire for greater convenience in payments. You see this today in chip cards, safe and secure mobile wallets and the creation of a seamless online shopping experience. We will further leverage new technologies to deliver greater security in online shopping with Mastercard Identity Check and host of other new features.”
In terms of consumer categories, women and those in the age bracket of 25-44 years, stand out as two significant segments who are more likely to access the internet for online shopping.
Across Asia Pacific, eight out of 10 consumers who have shopped online last year intend to make at least one online purchase in the first half of 2017. This trend is led by those in the emerging markets including China (97.3 percent), Vietnam (96.2 percent) and India (92.9 percent), followed by Malaysia (92.8 percent) and Thailand (87.1 percent).
Some significant Online shopping behavior trends in India