India’s digital payments leader Paytm has emerged as India’s favorite app for online transactions in a survey by YouGov that asked Indian shoppers about their most trusted online brands. Over 40 per cent of those surveyed said they trust Paytm. Interestingly, Google Pay was second, with a trust vote of 27 per cent of those surveyed. Flipkart-owned PhonePe ranked third with 10 per cent respondents saying they rest their trust in the brand.
Overall, Paytm along with Jio and MakeMytrip, emerged as the most trusted online brands in India, showing that Indians prefer home-grown brands over foreign owned companies. Google Pay, which is spending heavily in cashbacks for customer acquisition, is ranked second despite its global origins.
YouGov surveyed 1,017 respondents aged 18 to 40(+) on the internet in India in August 2019 for the findings. They asked respondents to choose between 76 brands across five categories - e-commerce, online travel booking, online payments or e-wallets, cab-hailing and mobile network providers.
“While Indians are more trusting of global brands in areas of online shopping and e-commerce, Indian brands are more reliable when it comes to making online payments, for online travel bookings and while choosing a mobile network provider," the survey said.