Festival season sees higher digital spend but failed transactions worry users

NEW DELHI: Indian shoppers may have been using digital payment methods, including united payments interface (UPI) and e-Wallets, more frequently amid the festival season but failed transactions are a major cause of concern, according to a study by YouGov and ACI Worldwide, a real-time digital payment software and solutions.

About 39% of Indian consumers prefer digital payments, ahead of debit and credit card payments (26%) and cash (26%), while 9% avoided digital payments completely during the festive season, marginally less than a year ago (10%).

According to the ACI study, digital payments including e-Wallets and UPI payments, were used by 57% of respondents more than twice per week for festive season purchases, up from 43% a year ago. Higher digital payment volumes are also being driven by “power users,” with one in three (29%) using digital payments at least once per day, up from 15% last year.