Digital payment systems: Perception and concerns among urban consumers

Abstract

The Digital India programme is a prestigious programme of the Government of India with a vision to transform India into a digitally empowered society and to become a knowledge economy. “Faceless, Paperless, Cashless” is one of professed role and slogan of of Digital India. As part of promoting cashless transactions and converting India into less-cash society, various modes of digital payments are available. These modes are banking cards, Unstructured Supplementary Service Data (USSD), Aadhaar Enabled Payment System (AEPS), Unified Payment Interface (UPI), mobile wallets point of sales, micro ATM etc. The current study is focused on urban consumers’ attitude, perception towards digtal payment systems. For the purpose of study, a convenient sampling survey was conducted among 100 urban respondents in Malappuram District of Kerala with the help of an interview schedule. The tools used for this study are Percentage analysis; one way Anova, independent sample t-test, ranking method etc.