India registers 108% surge in transactions for travel, online home services; BookMyShow, MyJio most preferred merchants
1 min read 16 Sep 2023, 11:29 PM ISTAccording to leading checkout network Simpl, there has been a 108 per cent growth in transacting users for varied kinds of services in the first eight months of this year.
PremiumConsumers in India have begun to spend significantly on events, online home services and other such entertainment avenues on the back of growing demand for convenience, seamless accessibility of these services, increase in purchasing power and propensity to spend. According to insights from leading checkout network 'Simpl', there has been a 108 per cent growth in transacting users for varied kinds of services in the first eight months of this year.
Between January-August, several consumers used Simpl’s 1-tap checkout to access services from merchants such as BookMyShow (movies and events), My Jio (mobile recharge), DriveU (On-Demand driver services), Park+ (Fastag recharge) and NoBroker (Home services, packers & movers) among others, according to Simpl.
During the same time period, the services segment has witnessed a remarkable 59 per cent increase in total payments volume (TPV), signifying the increasing demand for services among Simpl’s users. TPV is a crucial factor in determining the value of payments successfully completed through a checkout network, according to a statement shared by Simpl.
Notably, the demand for services category was led by millennials with an average age of 27 years who were responsible for 42 per cent of this demand. While metros cities are at the forefront of this trend, there is an increasing adoption in smaller cities, especially tier-3 and beyond where customers are increasingly adopting internet services made convenient via Simpl’s 1-tap checkout.
"An increasing number of consumers today are resorting to online services for travel, entertainment, and other essential and leisure services and are accessing these seamlessly with Simpl’s 1-tap checkout. Over the last eight months since January, we have witnessed a 108 per cent growth in transacting users across a plethora of services-based merchants, in a testament to growing affinity of consumers to seek convenience online,'' said Ashwini Ravindranath, Vice-President, Partner Success at Simpl.
‘’This, complemented with our 1-tap checkout, has played a pivotal role in enabling a seamless checkout experience with near zero transactions for millions of customers across the country,'' added Ravindranath.
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