Science & Technology

Here’s how many Indian households use electronic payments: survey

The survey is covering 5314 households across 25 Indian states

Indian households

Here’s how many Indian households use electronic payments: survey. Source:

The study has found that while 1 in 2 of the richest 20% of India’s households uses e-payments, up to 1 in 4 of the poorest 40% also use them. Besides, there is a suppressed demand from people who want to use it but need someone to show them how to do it. There’s also a small group who have used it before and have stopped using it.

If this “ready” demand is met through effective learning and education, over half of all Indian households will be digital payment users. In fact, 55 million of these households will come from the poorest 40% of Indian households. Additionally, 61 million will be from middle India or middle income 40%, and only 36 million of the richest 20%.

The report also highlights that smartphone ownership is no longer a barrier to digital payments, with 68% of respondents owning smartphones. Indeed, smartphones are used almost everywhere: 90% of the richest 20% of Indian households, but only 57% of the poorest households in India have smartphones.

Besides, 87% of respondents are aware that they receive SMS from banks, giving them the confidence to operate their money securely.

We’ve reported household savings declined due to the coronavirus pandemic in India.


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