India and New Zealand are two countries that could not be more different: the first one is an emerging economy, the other an advanced economy. However, both are emblematic of how the contemporary world is evolving towards a zero-cash market situation and that fintech goes beyond different social and economic contexts. In India, e-commerce’s value is $ 49 billion in 2019 (GlobalData data). And the trajectory is growing: in 2023 it’s predicted to be 91 billion dollars.

The cash is in fact disappearing from the pockets of Indian consumers: their share has fallen by half in the last twelve months. Only 8.8% of payments for online purchases are made in cash (fourth place). Payments by bank transfer are instead 14% (third place). GlobalData's Consumer payments insight 2019 research reveals, however, that Indian consumers (almost 40%, 39.6%) continue to prefer internet payment cards (first place). Of all types: debit, credit, rechargeable. The primacy of payment cards is however undermined by alternative payment methods, which account for 37.6% of the total flow.

The cashback policies of these countries have led to greater consumer confidence on these instruments, a strategy that in many European countries is not yet adopted, and that has led Italy to obtain the black jersey as regards the digital payments.