90% Indian consumers comfortable using mobile phones for payments: Study


90% Indian consumers comfortable using mobile phones for payments: Study


90% Indian consumers comfortable using mobile phones for payments: Study&nbsp | &nbspPhoto Credit:&nbspGetty Images

Key Highlights

  • 65% of consumers will prefer to use voice-based interface during COVID
  • 41% of Indian consumers will prefer facial recognition for authentication at shops/banks/contact centres/government offices to avoid human interactions

New Delhi: The coronavirus pandemic has hit the world. Despite all sorts of efforts by the governments to control the spread of the deadly virus, it continues to wreak havoc across the world. In a situation like this, consumers are putting a high price on health factors when interacting with organizations. 

In order to reduce the risk of infection, people are anxious to minimize physical contact and maximize contactless interactions, and companies are taking note of this development. Tesla, for example, is offering a contactless car delivery scheme that minimizes customer contact with the car maker’s employees. 

Capegemini in its recent study found that over 82 % of Indian consumers will prefer touchless interaction during the Covid-19 and 48% of Indians will prefer touchless interactions post-COVID pandemic. As per the study, 84% of Indian consumers especially in the age group of 41-50 years will prefer touchless interactions during the Covid pandemic while 48% of Indian consumers in the age group of 41–50 years will continue to prefer touchless interactions post–COVID pandemic.

 

Capgemini surveyed over 4,800 consumers and over 950 executives in April 2020 on redesigning consumer experiences from 12 major economies- China, the United Kingdom, United States, Australia, India, Sweden, The Netherlands, Germany, France, Spain, Italy, and Brazil. 

 
Key highlights of the study: 

  • Over 82% of Indian consumers will prefer touchless interaction during the COVID-19 and 48% of Indians will prefer touchless interactions post-COVID pandemic
  • 84% of Indian consumers especially in the age group of 41-50 years will prefer touchless interactions during the COVID pandemic while 48% of Indian consumers in the age group of 41 – 50 years will continue to prefer touchless interactions post – COVID pandemic.
  • In India, 65% of consumers will prefer to use voice-based interface during COVID;  while 64% of Indian consumers will prefer to use  voice-based interface post COVID
  • For instance, Jio, a major India-based telecom player, found that voice is often the preferred interface for first-time mobile data users. Strong natural language processing capabilities will be key to winning over those people who are offline or digitally excluded
  • In a post-COVID world, privacy would again be of primary concern to consumers. 41% of Indian consumers in the age group of 41-50  will prefer facial recognition for authentication at shops/banks/contact centres/government offices to avoid human interactions and touchscreens during the COVID pandemic while 37 % of Indian consumers in the age group of 41-50  will prefer facial recognition for authentication at shops/banks/contact centres/government offices to avoid human interactions and touchscreens after the COVID pandemic
  • In India, Kotak Mahindra bank began offering customers the option to log-in with the Apple-based Face ID feature as early as 2018. HSBC has also subsequently introduced the same approach for its corporate customers
  • 38% of Indian retailers believe that consumers will avoid visiting the store if facial recognition is used while 67% of Indian consumers would not visit the store if facial recognition is used on them
  • Almost 55% of Indian consumers in the age group of 31-40 will prefer to use mobile apps at shops/banks/contact centres/government offices to avoid human interactions and touchscreens during the COVID-19 pandemic while 51 % of Indian consumers  in the age group of 31-40 will prefer to use mobile apps at shops/banks/contact centres/government offices to avoid human interactions and touchscreens  post COVID-19 pandemic 
  • Almost 90% of Indian consumers are comfortable using their mobile phones  for payments especially for in-store purchases
  • For instance, Volvo Cars India and BMW India have initiated contactless programs that allow customers to book car services online from the nearest dealership through mobile websites and third-party applications

It is worth mentioning that consumers have begun adopting social distancing and sanitary practices as new and potentially permanent norms in their lives. They have grown increasingly cautious of touching shared interfaces and objects foreign to them. This has led to a strong preference towards touchless practices in their interactions with different business sectors.



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