Women in the country are not limited to making only digital payments. They are also increasing the use of digital platforms for business operations, loans and investments. According to a study by DBS Bank India and Deloitte India, digital payment tools have become the most popular financial platforms with 84% women merchants. In this survey, 1,342 businessmen, high net worth i.e. rich and rural working women from across the country were included. Of these, 72% women businessmen and 77% rich women use UPI. However, beyond payments, now 38% women are using loan platforms and 29% are using brokerage platforms for investments. UPI is dominant in urban areas, but among rural working women, cash is still the most preferred method with 77%. UPI usage among rural women is 54%. Among women businessmen, 42% use debit cards and 36% use credit cards. Credit card is the second largest medium among rich women after UPI with 53%. According to the survey, 65% women spend on employee salaries and contractor payments. 53% of women are investing money in digital marketing, branding and onboarding new customers. Apart from this, 37% women spend on purchasing software and technical tools. Security is the biggest concern amid digital trends. About 62% of women businessmen consider data security very important. Whereas 46% face difficulty in running the app due to complex user interface. Apart from this, 46% of women businessmen have faced digital fraud. Credit cards popular among urban working women: Credit cards are becoming a common financial instrument among earning women in urban areas. Half of the female businessmen use their personal credit cards frequently. They use it daily or several times a week. Its use increases rapidly among high earning businessmen. Among business women and affluent women, 65% valued rewards like hotel offers, air miles, lounge access and travel insurance the most.
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Rich women prefer credit cards, villagers prefer cash: 84% women businessmen prefer digital tools; Use of app for loan and investment also
