Among the most important factors influencing digital commerce in India is that the use of mobile devices is overwhelmingly the most popular way to access the internet. This means that smartphones are the preferred devices for engaging with digital commerce in the remote environment as well as being ubiquitous in the proximity environment, where they are used to process payments via NFC and QR codes.
At the end of the review period, the remote environment remained the dominant source of revenues in digital commerce. This is due to remote digital commerce having been present in India for far longer than proximity to commerce, with numerous major players already active in e-commerce and other areas of remote digital commerce.
Recent years have seen a surge in the importance of digital payments for India’s consumer foodservice industry. In particular, online ordering is becoming very popular among affluent urban consumers.
India’s leading bank State bank of India recently launched contactless mobile phone payments, a move which represents a huge step forward for the development of digital commerce in the proximity environment. The bank’s card issuing arm SBI Card is behind the launch of SBI Card Pay, a feature which enables contactless payment using mobile phone at participating merchants.
With digital payment platforms registering strong growth in India towards the end of the review period, Walmart-owned PhonePe took the bold step of launching its own automated teller machine. This new service is the first of its kind in India and it was launched on a pilot basis in Delhi.
December 2019 saw leading online food delivery aggregator Swiggy announce the launch of its own digital wallet, named Swiggy Money. The launch of Swiggy Money follows similar moves by other digital commerce players and although the app is currently only used for paying refunds to customers, in the near future it is expected that Swiggy Money will be fully functional as a digital wallet.
If you purchase a report that is updated in the next 60 days, we will send you the new edition and data extract FREE! Home Page