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77% online Indian customers prefer physical transactions: Report

The online Indian customers are well informed and self

The online Indian customers are well informed and self
sufficient with regard to investment decisions stated a recent Nielsenreport titled “Decoding Investment Attitudes of the Online Indian Consumer”. As per the data released, 77 per cent of Indian consumers prefer physical transactions at bank branches than online transactions.

The dependency on cash was found to be quite strong in India
with respondents indicating that they use cash for their regular expenses such
as shopping, dining, travelling and entertainment. Debit card usage stood at 56
percent among the online Indian consumer, while use of credit card was
confirmed by 37 percent of the respondents.

Only one out of five
consumers (22%) chose the cheque book as their preferred mode of payment. The
practice of using electronic wallet still seems to be at a nascent stage in the
country, with only nine percent of the respondents admitting to use it.

The study therefore shows that cash is still seen as a mode
of immediate payment by Indian consumers, as most retail outlets across the
country are not equipped with the necessary infrastructure to accept debit or
credit cards.

Established in 2005, Nielsen is a leading global provider of
information and insights into what consumers watch and buy. The survey t is a part
of the Global Survey of Investment Attitudes, which surveyed more than 28,000
internet respondents across 56 countries.

For India, a total sample size of 500 was covered. The
sample has quotas based on age and sex for each country based on their Internet
users, and is weighted to be representative of Internet consumers and has a
maximum margin of error of ±0.6%. This Nielsen survey is based on the behaviour
of respondents with online access only. Internet penetration rates vary by
country.

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