Electronic Payment on Apparels growing in Metros

摘要

If you are swiping your card regularly or making online transactions, you are most likely buying clothes. According to MasterCard, apparel is the top category across all metros in the country. And, people in Chennai spend the most on clothes and jewellery, followed closely by Bengaluru. "Penetration of electronic payments is still very low in India but there is an immense opportunity. The roll out of the identity project (Aadhaar) will provide a great platform for commerce and all sort of things can be built on that platform," said Ann Cairns, president, international markets, MasterCard. MasterCard, said to be the world's second-largest payment and technology firm, opened its analysis centre in Delhi last year. It's looking to process an ever-growing amount of global data, now at 10 petabytes (a million gigabytes), and sell information as a stand-alone product, or provide consulting based on that. "Because our data is online and real time, we can tell what people are really buying, what consumers are doing in the economy and we are not just relying on our information but co-relating with external sources," said Cairns. According to MasterCard data, foreign travelers are largely from the US, UK and UAE and they spend mostly on jewellery and giftware.