Credit cards let 42 % of India fulfill their travel dreams via PayU

Monday, July 30, 2018

PayU, India’s biggest online payments processor, deciphers the recent travel behavior of Indians to explore how India pays for their travel booking. Accounting for 70% of the travel transactions processed online in India gives PayU a wealth of insights into the evolving travel industry and consumer’s spending behavior on travel in the past few years.

The insights cover data across major travel aggregators and the most popular standalone vendor websites.

PayU insights state that of all the payment modes available (Net banking, debit cards, credit cards, wallets etc) 42% of the payments were made through credit cards for travel bookings, indicating how users prefer the comfort of paying later.

Credit cards are also preferred since it provides the option of co-branded cards with firms. In many cases, transactions done by credit cards are encouraged by linking purchases to miles on select airlines. PayU insights highlight that 43% of all the travel bookings done by credit cards are for air travel.

The PayU insights further reveal that Indian travelers are impulsive when booking tickets last minute for the holiday season.

Furthermore, it portrays the booking patterns of users where the amount spent on overall travel bookings has increased multifold to 28.42% in Q4 from 18.48% in Q1, 2017.

Most used payment method based on volume are debit cards whereas the most amount spent is done through credit cards.

PayU insights also highlight how the majority of the bookings are done during the day, with the peak concentrated from 9 am to 3 pm and the transaction curve declining towards the night. As per the findings, Wednesday and Thursday are the most active days in the week for travel bookings.

The above insights clearly indicate that Indians are not averse to using credit cards when it comes to travel bookings.

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