Digital Wallet Dominance: 58% India’s E-Commerce Revolution Driven by Mobile Wallets
India’s e-commerce landscape is undergoing a significant transformation, with alternative payment methods now commanding a substantial 58% share of the market in 2023. This shift, driven by the widespread adoption of mobile and digital wallets, marks a profound change in consumer preferences and transactional behavior.
The Changing Face of Indian E-Commerce: The Rise of Alternative Payments
Mobile Wallets: Brands like Amazon Pay and Google Pay have gained prominence as alternative payment solutions among Indian consumers.
Decline of Cash: Traditional cash payments, prevalent in in-store retail, have witnessed a sharp decline in online purchases, capturing only a 6.2% share of the market.
Payment Cards Remain Relevant
Credit and Charge Cards: Payment...