BackSmartphones are the new wallets
Cash is no longer the king, and mobile based payments are becoming popular
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The smartphone in our pocket has become the default device for communication. Now, smartphones are also used for making payments, which is usually more convenient than cash or credit card-based transactions.
According to market researcher Nielsen’s ‘The Smartphone becomes the Mobile Wallet’ report, men are adopting this much quicker than women—62% of men using smartphones are using mobile payments apps, while only 45% women do so.
While there is very little difference between the use of these apps in large and small towns across India, users in small towns spend an average of 109 minutes per month using these apps, while it is 91 minutes per month in large towns.
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