Indians to lead in post-Covid adoption of e-payments: Study

MUMBAI: Usage of digital payments in the post-Covid interval is ready to be the best amongst Indians at 75%, adopted by China at 63% and Italy at 19%, in accordance to an 11-country survey carried out by Capgemini on monetary companies client behaviour. The survey additionally exhibits that amongst older folks, Indians are extra doubtless to make the change to digital funds after the pandemic.
Capgemini’s survey was carried out amongst customers in China, France, Germany, India, Italy, the Netherlands, Norway, Spain, Sweden, the UK and the US in early April. “The uptake in digital payments has been around for some time. What was striking was that about 80% of the older consumers in the age bracket of 56 years plus have switched to digital payments, which is way higher than global benchmarks,” mentioned Sudhir Pai, chief know-how officer for the consulting agency’s international monetary companies enterprise.

Other findings of the survey are that 85% of the Indian customers want to save extra in 6-9 months as in contrast to 80% in the present interval and 72% earlier than Covid-19. India additionally topped demand for insurance coverage protection with 83% customers choosing a rise in life insurance coverage protection in the six-nine months from 80% at present, and 70% in the pre-Covid interval.

According to Pai, working remotely goes to improve. “Most of our clients are talking about looking at the new normal state. But it is not going to an extreme where everything is going into a remote mode. There is going to be a transition where essential services will remain face-to-face and personal. In banking, every country has reached out to us for developing a contactless approach, whether it is for onboarding customers or any other transaction,” he mentioned.

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