ITV

Tag: IAMAI-IMRB

  • IAMAI to host summit on Digital Money for Digital India

    IAMAI to host summit on Digital Money for Digital India

    MUMBAI: India’s internet economy is flourishing rapidly. With over 350 million internet users and over 213 million mobile internet users the future of digital in India seems to be bright.

     

    With the growth of digital commerce, the digital payment industry has shown steady growth. According to IAMAI-IMRB’s Digital Commerce 2015 Report, 45 per cent of the online shoppers prefer cash on delivery as a mode of payment, 21 per cent prefer payment through debit card and 16 per cent via credit card. The other modes of payment, which are used are Internet Banking (10 per cent) as well as prepaid cash cards, mobile wallets etc (8 per cent).

     

    With this framework, Digital Money 2015 Summit with the theme – Digital Money for Digital India – organized by the Internet and Mobile Association of India (IAMAI), gains significance.

     

    The digital economy cannot be overlooked as various forms of digital payment are taking significance in India. digital payment is no longer restricted to e-commerce transactions now. White label ATMs, payment banks, mobile wallets, POS are all part of the digital payment ambit.

     

    With different social sectors schemes by government and digital India gaining prominence and priority, this year’s Digital Money Summit has relevance like never before. While there are many industry leaders who will be speaking at the summit, the special address by eminent economist and Niti Ayog member Bibek Debroy is significant, as very few can be expressive like him on the importance of digital payment in the backdrop of digital India.

     

    The Digital Money Summit will have industry representation from bankers, payment banks, and mobile wallets among others. The day long summit will have speakers like Bank of India chairman G Padmanabhan; PayTM founder Vijay Shekhar Sharma; ItzCash Card chairman and managing director Naveen Surya; RBL Bank head – strategy Rajeev Ahuja and Fino Paytech managing director and CEO Rishi Gupta. 

     

    Speaking about the Digital Money 2015 Summit, IAMAI president Dr. Subho Ray said, “India is in the cusp of digital revolution. No longer is digital payment a phenomenon of the urban elite. Today, the digital payment platform is the biggest enabler of financial inclusion. The summit this year will be interesting from the perspective of emergence of the platform and its relevance in digital India program.”

     

    By keeping accord with the theme, Digital Money 2015 Summit will have sessions like Investor’s view on digital payments industry in India. They sessions will focus on Digital Money for Digital India – How can both complement each other?; E-Commerce – paving the way for digital money in India; Mobile money in India – the road map for growth; Payments banks – moving towards differentiated banking; etc.

  • IAMAI-IMRB study pegs urban internet users at 37 million for September

    IAMAI-IMRB study pegs urban internet users at 37 million for September

    BANGALORE: According to the joint research by the Internet and Mobile Association of India (IAMAI) and IMRB International, Internet users in India have reached 37 million in the month of September 2006, up from 33 million in March 2006. During the same period the number of “active users” has risen from 21.1 Million in March 2006 to 25 Million in September 2006. “Active User” is an internationally accepted and widely used category to define users who have used the internet at least one in the last 30 days.

    The numbers are a result of the largest “offline” survey so far carried out in India to estimate the “ever user” and “active user” categories.? The primary survey for the study was conducted in early 2006 amongst 16,500 households covering 65,000 individuals across 26 major metros and small towns in India, with additional coverage of 10,000 business and 250 cyber caf? owners. The survey did not include rural areas.

    According to the findings, youth are the main drivers of internet usage in India . College students and those below the age of 35 are the biggest segment on the Internet. Both these segments have the highest proportion of conversion of “Ever” Users to “Active” users of Internet.

    Besides the youth the internet hungry small towns are further fuelling the growth. As per the survey, smaller metros and towns are increasingly embracing the Internet evolution and are pushing growth from below. Smaller cities and towns have shown a whopping 142% YoY growth and now account for 25% of all internet users.

    Commenting on the survey Dr. Subho Ray, President, IAMAI says, “Although there is a marginal revision of the earlier IAMAI number for the year, given the rapid growth of internet business and government’s massive e-Governance programme, it was time to look into the numbers more stringently. This will help better business decisions on part of the industry as well as better resource planning by the government.”

    Predicting on the future development, Mohan Krishnan, Vice President and Country Manager, eTechnology Group@IMRB, says, “The next round of growth will be driven by new and innovative applications such as blogs, P2P, video on demand and online gaming. While the old favourites such as email, Chat and IM will drive first time users to the medium”.
    The study estimates that the Internet User base is likely to cross the 40 million mark by March 2007, when the “Ever” User base is likely to hit 42 Million and the Active User base is likely to hit 28 Million. By March 2008, the Ever User base should cross the 50 Million mark. The active user base would reach a staggering figure of 43 million users by the same time.