New Delhi, Nov 27 (IANS): Indian consumers in Tier-2 cities are taking the most advantage of online transactions and they are ahead of consumers in metros and tier-1 cites when it comes to shopping, wallet transfers and booking tickets, revealed a new report on Wednesday.

Convenience and time-saving are the top motivators for making online transactions, said the report from cyber security company NortonLifeLock.

Consumers make the maximum online financial transactions for shopping (91 per cent) closely followed by bill payments (88 per cent).

"It is impressive to see that consumers in India are embracing the world of digital and choosing to access the Internet for various routine activities such as paying bills, transferring money, booking tickets and more," Ritesh Chopra, Country Director, NortonLifeLock, India, said in a statement.

"However, it is more important than ever for consumers to be aware of potential risks and to stay vigilant while making transactions online. Cybercriminals are looking to take advantage of consumers who may be less security minded and distracted by the excitement of shopping online sales," Chopra said.

City-based millennials engage in more financial transactions online than any other generation surveyed, the research showed.

The research showed that nearly seven in 10 Indian consumers making financial transactions online are willing to save their personal bank details on the websites they trust, while more than 8 in 10 think financial fraud and data theft are the biggest threat to online banking, said a report on Wednesday.

NortonLifeLock, however, warned that consumers should only use sites that they know and trust or have been recommended by people they know.

"Phony shopping sites can be hard to tell apart from the genuine ones, and even legitimate sites can be hijacked. Check the site address carefully for subtle differences, like minor errors in spelling or grammar," said the company.

While digital wallets are seeing an increase in uptake, only 69 per cent of Indian respondents reported engaging in wallet transfers, said the report.

Further, the report revealed that the respondent women are ahead of men when it comes to their awareness of data collection through cookies and the use of search results for marketing purposes.

The findings are based on an online survey of over 1,500 city-dwelling adults in India.