Consumers Prefer Mobile Apps For Small Ticket Size Transactions: Report

Groceries, petrol stations, restaurants, clothing and apparel, specialty retail, pharmacy and medical, hotels, jewellery retail, household appliances, and departmental stores were the merchant categories with the highest volume and value of transactions in Q1 for Worldline India.

Worldline India (WI) is wholly owned by Worldline SA, is a transactions facilitator in all spectrums of the digital payments' ecosystem, and provides the highest available level of products, services, and solutions that are fully compliant with PCI and RBI guidelines.

Mobile app-based transactions recorded 96% growth in volume in Q1 2021, while its value witnessed over 104% increase against the same quarter of the previous year i.e. Q1 2020. Interestingly, 88% of mobile transactions comprised of inter-bank transactions while 12% accounted for intra-bank transactions. In terms of value, 79% of mobile transactions comprised of interbank transactions while 21% accounted for intra-bank transactions.

Consumers made 8.32 billion mobile-based payments whereas Net Banking/ Internet browser-based transactions were over 937.60 million in Q1 2021. In terms of value, INR 31.98 trillion was transacted through mobile while INR 131.34 trillion was transacted through the internet.

Net banking/internet-based transactions witnessed over 16% increase in volume In Q1 2021 and 39% in value against the same quarter of the previous year i.e. Q1 2020. Inter-bank and intra-bank transactions volume of Internet Payments channels were 80% and 20% respectively. In value terms, Inter-bank and intra-bank transactions were around 50%

Top 10 states with the highest transactions at physical touchpoints in Q1 for Worldline India: Maharashtra, Tamil Nadu, Karnataka, Kerala, Andhra Pradesh, Delhi, Uttar Pradesh, Gujarat, Telangana, and West Bengal

Top 10 cities with the highest number of transactions at physical touchpoints in Q1 for Worldline India: Bengaluru, Mumbai, Hyderabad, Chennai, Pune, Delhi, Kolkata, Coimbatore, Ernakulam, and Ahmedabad

Deepak Chandnani, Managing Director, Worldline South Asia & Middle East said, The RBI in its Annual Report 2020-21 stated that the payment systems recorded a robust growth of 26.2% in terms of volume on top of the expansion of 44.2% in the previous year. This clearly indicates the growing confidence among consumers towards digital payments in tier I and II cities and tier III and beyond. Although the restrictions on the movement of people and persistent lockdowns may have compelled people to adopt digital payment modes, the convenience, transparency, and security of digital payments will ensure customer stickiness in the years to come. At Worldline, we remain committed to contributing to digital penetration in India by enhancing acceptance infrastructure across the country and introducing innovative payment options to improve user experience and deepen the reach of the payment system."