Survey finds that users prefer payment via debit and credit cards over cash in Pakistan
- The survey has found that the majority of online shoppers some 52 percent prefer to shop from the well-known e-commerce sites.
- The most common type of cards used by online shoppers is debit cards, followed by credit cards(55 percent), and prepaid cards(6 percent).
- 18 percent of shoppers have used the QR method for online payment.
Visa – a payment technology company has found in a survey that the majority of the banked users in Pakistan prefer payments through cards instead of cash payments. About 610 from different cities of Pakistan participated in the survey that was conducted in the second month of the year 2019.
According to the survey report, consumers prefer card payment over cash while shopping online because they feel that the card is safer than cash. About 53 percent of the respondents perceived cards to be safer than cash payments, 50 percent considered cards as the secure way to pay and another 45 percent perceived cards as the only way acceptable to the online merchants.
Payment through credit, and debit cards
The most common type of cards used by online shoppers is debit cards, followed by credit cards(55 percent), and prepaid cards(6 percent). The survey report found that cards are the preferred online payment methods for half of the respondents whereas 42 percent of online shoppers prefer to pay via cash on delivery method of payment.
Quick Response Payments
Visa survey also found that 32 percent of respondents were aware of quick response payments and some 18 percent of shoppers have used this method of payment. The major factors that triggered the use of the QR payment system are security perceptions, speed of payments, and convenience.
More education and awareness regarding the usage of QR payments and reassurance from the banks on its security aspects are required to elevate consumers’ interest in adopting QR payments.
Shopping from e-commerce sites
The survey has found that the majority of online shoppers some 52 percent prefer to shop from the well-known e-commerce sites while 55 percent preferred shopping from the domestic sites for the sake of convenience, faster delivery time, and return policies.
What consumers mostly purchase during online shopping?
Consumers mostly purchase clothes, restaurants orders, groceries, and electronic goods when shopping online according to the survey report.
Trust level among online shoppers
Among the current online shoppers, the trust level for making online payments through cards is high (94 percent). The trust level among the current non-online shoppers is comparatively lower (54percent).
Do you prefer online payment methods over conventional payment method of cash payment? Share your views in the comment section below