Title: Prospects of mobile payments in Northern India: customer segmentation and profiling

Authors: Upendra Nath Shukla

Addresses: Amity Business School, Amity University, Uttar Pradesh, India

Abstract: As per the report of 'Telecom Regulatory Authority of India (TRAI)' customer base for smartphone users was 1,206.22 million out of which 1,183.41 million were wireless customers by the end of March 2018, leading to enhanced potential market for mobile based applications and payments. Indians have increased use of mobile phones for making cashless payments, leading to a great market opportunity for mobile payments. To grab this opportunity, companies need to map different attributes of mobile payments to the right customer clusters. Data is collected from mobile payment users in North India. Findings revealed that there are three distinct customer clusters. First cluster consists of young innovative customers up to 35 years, looking for convenience and compatibility, second cluster belongs to persuasive customers and third one belongs to conservative customers. Due to the young demographic dividend and digital India move, India would emerge as the most conducive market for mobile payments.

Keywords: mobile payments; segmentation; customer-profile; market; India; cashless payment; m-wallets; fintech.

DOI: 10.1504/IJBEX.2022.123029

International Journal of Business Excellence, 2022 Vol.27 No.1, pp.23 - 37

Received: 06 Sep 2019
Accepted: 07 Dec 2019
Published online: 23 May 2022 *

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