The Great Payments Shift in Indian Consumer Behaviour

It won’t be an exaggeration to say that India is currently moving towards becoming a fully digitalized nation. Though this change was happening slowly for many years, the pandemic boosted the pace too many folds. It brought a tectonic shift in how the market works and changed consumer behaviour drastically. When the physical existence was not enough for survival, every business found a resort in the online platforms and digitized their operations. Shopping happened online, and at the same time, people also managed their finances through e-wallets and payment apps in India

This shift from physical entities to online platforms was so swift that soon the mobile payment apps in India became the most opted for payment mode. The buyer now was placing orders online, making payments through the online payment apps, and enjoying the sorted buying and paying experience. This transition that happened as a need of the hour soon became a habit and a preferred option. The condition right now is such that the inclination towards online shopping and payment is constantly increasing, and it will continue to be the same for years to come. 

Things that moved people towards digitization

Multiple factors drew people toward digitization. Let us discuss a few of them in detail. 


The first event that moved a lot of buyers toward payment apps in India was demonetization. As the currency changed, there was a cash crunch, and people had to look for alternative ways to get even the basic stuff. These online payment apps came to their rescue at that time and let people pay online for any product or service they require. Moreover, they need not carry any cash with them, as when they make a transaction, the money directly gets transferred between the bank accounts. Many started using these apps during that time, and when they got used to the convenience and responsiveness of these platforms, they never switched back to keeping cash. 


Another life-changing event that brought a drastic change in the market was the pandemic. With COVID 19 outbreak, everything came to a standstill, and when it started opening, there were countless restrictions. One has to avoid coming in direct contact with people, social distancing was essential, and even the essentials like banks were open only for a fixed time. Hence, people needed an option to manage their finances without breaking any protocol. That is when even the remaining population switched to mobile payment apps in India. These apps let them make transactions without coming in contact with anyone. Moreover, it was the safest and most convenient way to pay for your online orders.  

Cashback Deals

When the number of payment apps increased, businesses had to do something to retain their customers. It led to the introduction of cashback deals and coupons through which people could shop more and get exciting discounts. Some apps offer assured cashback for each transaction you make through them. Furthermore, some platforms have multiple brands listed on them from where people can shop and pay conveniently and enjoy cashback rewards as an added perk. This reward system attracted many consumers, as there is no reason not to use an app that sorts every issue related to payment and offers a cashback.


Nobody would want to stand in long queues for hours when they can do the same thing from the comfort of their home. The payment apps sort every consumer’s shopping and banking concerns, enabling them to do everything with a few clicks! They only have to choose a reliable UPI shopping app and get all they want at their doorsteps. Moreover, these apps don’t put any geographical restrictions on people; you can pay anyone anytime by simply scanning the code or using a UPI ID. 

There are countless factors motivating the buyer to use digital payment options. Over the last few years, the switch has been fast, and you can expect it to grow exponentially. The inclination is so high that multiple tech giants and corporate houses have started investing in this market and trying their hands at it. If this shift keeps happening at the same pace, this surge in digital payment and the change in consumer behaviour is permanent and will continue to rise in the coming years.

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