With more and more people buying products
online, credit card issuers are seeing an increase in their business, and the
number of online shoppers is likely to reach 38 million by 2015, says a study.
The number of online shoppers in the
country is currently estimated at 14% of the total 74 million internet users
and has been growing at 35% over the last three years, according to an American
Express study.
According to the study, the number of
online shoppers in the country is likely to reach 38 million by 2015.
Last August the country has overtaken Japan
to become the world's third-largest online market in terms of internet user
base, growing at 31%, after China and the US, according to research firm
comScore.
Credit card providers saw two-times more
transactions on Flipkart, 1.6 times at Jabong and six times at Infibeam, says
the AmEx study.
The recent 'Great Online Shopping Festival'
launched by Google triggered massive sales for various companies, from online
retailers to credit card companies.
American Express offered attractive
discounts on leading e-commerce sites like Jabong, Flipkart, Infibeam and
Makemytrip and saw 22 times growth in their average daily billings during the
campaign, generating $1.7 million billings in total and $1.2 million in
incremental billings during the period, the AmEx study said.
According to Worldline, a payments and
transactional services industry player, in the just concluded financial year,
the credit card base in the country grew by 4%.
The private sector banks were the market leaders
in FY14, with a 54% share of the credit card base, Worldline, which is a
subsidiary of Atos, said in the report.
PTI
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