Seybold Report ISSN: 1533-9211
Dr. Shruti Jose
Faculty, Department of Commerce, Christ Junior College, Bengaluru, Karnataka
Dr. Ganesh L.
Professor and Head- Strategy & Leadership Area, School of Business and Management
CHRIST (Deemed to be University), Bengaluru, Karnataka, shruti.jose@cjc.christcollege.edu
Vol 17, No 09 ( 2022 ) | DOI: 10.5281/zenodo.7068228 | Licensing: CC 4.0 | Pg no: 807-823 | Published on: 09-09-2022
Abstract
Rapid technological advancements have resulted in the need for digital payments. The basic goal of any national payment system is to ensure that money flows smoothly. Cash has fallen out of favour as more and more cashless payment methods have gained acceptance among people globally. The current Covid-19 Pandemic has also contributed to an increase in the use of cashless payments. According to studies, consumers, who are the primary stakeholders in payment systems, are increasingly requesting cashless payment alternatives. The goal of this article is to provide insight into the benefits of using cashless payments as well as the nature of spending done using cashless payments. The study's findings show that when people use cashless payments, they have more diverse spending patterns and are more aware of the benefits of doing so. The findings highlight the continued need to give consumers with compelling reasons to use cashless payments through a variety of usable options and benefits.
Keywords:
Consumers, cashless payments usage, awareness, digital payments, Usage behaviour