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Consumer Perception Towards Digital Payment Mode

Client is a leading banking services provider that wanted to conduct a consumer study with B2B consumers and individuals in order to understand their perception and behavior towards digital payment.

Business Objective

The main objective was to understand the consumer insights based on following points:

Most preferred electronic payment used by customer

Most popular electronic payment system among various electronic payment modes

Awareness and usage of customers using digital payment

Our Approach

  • Research Premise
  • Research Premise Continued
  • Value Delivered

Research Premise

Research experts conducted primary research with retailers, shopkeepers, sellers, and individual customers for studying their behavior and have gained their complete perspective on following parameters:

Preferred digital payment website/ app and 3rd party e-commerce payment apps customers utilize maximum

Identified the various characteristics/ attributes based on:

  • Website/App-friendly
  • Customer Services
  • Services Charges
  • Convenience in using Mobile Payment Wallet and others
  • Usage frequency
  • Gathered consumers’ requirements and suggestions about the service

Geographic Coverage: India (Covering Tier-I & II cities)

Research Premise Continued

Performed desk research from paid and non-paid sources and mapped out the following information:

  • Key strategies adopted by the top players to increase their digital payment services
  • Key developments are expected to have a long-term impact on the digital payment platform
  • Future trends and influential factors related to market growth (drivers, challenges, restraints, and opportunities)

Value Delivered

Key insights from the report assisted the client in identifying the concerned and pride pointers.

Comprehensive analysis and highlighted major points from customer’s consolidated feedback based on:

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Consumer Demographic Profiling

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Ranking of preferred Digital Payment Apps based on: Usage; Convenience; Brand Loyalty & other characteristics

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Frequency Analysis for consumer satisfaction

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Top impacting factors for smooth online payment process

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