CHAPTER 1

INTRODUCTION AND BACKGROUND

A big step toward a more efficient and safe financial environment is represented by digital payments. The
days of actual currency and cards are long gone. These days, we can securely save our payment details on
our smartphone or other digital device. This makes transactions on a variety of platforms—including in-
app purchases, real retail establishments, and internet businesses—faster and more effective. Direct online
money transfer features are frequently offered by companies that accept digital payments. These payment
methods use strong features like tokens and encrypted codes to protect the financial information of Your’s
from retailers, as security is still of the utmost importance. Essentially, your smartphone becomes a safe
digital wallet, enabling a new era of dependable and easy financial transactions.

Types of Digital payments

Electronic Fund Transfer(EFT) – Electronic funds transfer (EFT) lets you move the money between
bank, accounts digitally. Tellers and money are not needed! Using the recipient's bank details (name, bank,
account number, and a code such as IFSC), you start it online. Banks handle the settlement behind the
scenes, and the money zaps safely to their account.

National Electronic Fund Transfer (NEFT) – NEFT (National Electronic Funds Transfer) is India's
nationwide system for quick and easy money transfers between any bank branches. Launched in 1994, it
lets individuals and businesses send funds electronically with no minimum or maximum amount.

Real Time Gross Settlement (RTGS) – The RTGS system facilitates immediate and individual money
transfers between banks in real time and on a gross basis. While gross settlement guarantees that each
transaction is resolved separately without grouping or netting, real-time processing guarantees That deals
are completed quickly and without delay. A daily minimum transaction limit of three lakhs is also in
place.

Immediate Payment Service/ Interbank Mobile Payment Service (IMPS) – The Immediate Payment
Service (IMPS) is an initiative spearheaded by India's National Payments Corporation
(NPCI). It offers a service facilitated by banks, enabling instant money transfers between accounts,
whether within the same bank or across different banks. Prior to the introduction of IMPS, interbank fund
transfers were processed in batches through NEFT.

Home Banking/ Internet Banking- The Home banking facility allows customers to access banking
services from the comfort of their homes, eliminating the need to visit a physical bank branch. Routine
transactions can be effortlessly conducted online using a personal computer or mobile phone with internet
connectivity. These transactions include checking balances, obtaining account statements, opening
accounts, making investments through bank apps, and transferring funds.

Unified Payment Interface UPI functions as an interface that allows several bank accounts to be
combined into one program. Customers can access it if they have a bank account, debit card, and a
cellphone number connected to their account. The most popular, safest, and appropriate payment option

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for even minor transactions is UPI. Its 24-hour availability guarantees access at all times.

Theoretical background of the study.

This study delves into the factors influencing the use of digital payments among students in Bengaluru.
Here, we explore two prominent theories that can provide a foundation for understanding this
phenomenon:

1. Technology Acceptance Model (TAM):

Originally proposed by Davis et al. (1989), this Model suggests us that individuals' readiness to embrace
new technologies is largely influenced by two primary factorshow useful and how easy something is to
use. this research, students who find digital payments to be both beneficial and easy to navigate are more
inclined to use them in their daily lives routines.

2. Theory of Planned Behaviour (TPB):

Formulated by Ajzen (1991), is helps to examine that an individual’s behavioural intentions—and
ultimately their actions—are shaped by their attitudes, the influence of social norms, and their perceived
control over the behaviour. Within this study, students’ favorable views on digital payment systems, the
encouragement or expectations from peers and family, and their confidence in using such systems are all
seen as contributing factors to their adoption of digital payment methods.

Integrating TAM and TPB:

This study combines the insights of both TAM and TPB to provide a holistic perspective on the variables
impact students’ use of Electronic payment systems in Bengaluru. While TAM sheds light on the
technological perceptions that drive usage, TPB brings in the social and psychological dimensions.

This framework of integrated allows for analysis of the following connections:

 How perceived usefulness (TAM) complements students’ attitudes (TPB) towards digital
transactions.
 The impact of perceived usability (TAM) on students’ sense of control over using such technology
(TPB).
 The overlap between social influence, which is subtly reflected in TAM’s perceived usefulness,
and subjective norms as described in TPB.

Through this lens, the research seeks to uncover the underlying motivations and potential barriers that
pupils enter when considering using digital or electrical payments in Bengaluru.

Industrial Profile:

Title: Factors which Influencing ‘Digital Payment Adoption’ Among Students in Bengaluru, India

This research is situated at the intersection of multiple industries, with strong relevance to financial
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services, technology, and the education sector.

Primary Industry Focus: Financial Services

The core of this dissertation revolves around how a key demographic—students—interact with digital
payment systems, an increasingly vital component of the financial ecosystem. The strongest matches have
Outcomes for several industry stakeholders:

 Banks and Fintech Firms: Insights into student behavior can support the creation of tailored
financial products and digital services that better address the needs and preferences of young
consumers.
 Digital Payment Providers: Understanding students’ user experiences and expectations can help
in refining application interfaces and service offerings to enhance adoption rates and long-term
usage.

Secondary Industry: Technology

This research deeply engages with the technological dimension of digital payment platforms, inspecting
how students connect with various digital tools. The insights gained are highly applicable to the
technology sector in several key areas:

 User-Centered Product Innovation: Analyzing student engagement with digital payment apps
can help developers design more intuitive interfaces, implement stronger security measures, and
create novel payment features that resonate with a digitally inclined youth demographic.
 Adoption of Cutting-Edge Technologies: The study also explores students' perceptions of
innovative technologies such as biometric authentication and wearable payment systems. These
insights can guide the tech industry in refining its development approaches Putting putting into
practice successful marketing techniques for next-generation payment solutions.

Tertiary Industry: Education

Given the study’s focus on student behavior, it also holds considerable relevance for the education sector.
The findings can support educational institutions in multiple ways:

 Improving Financial Literacy Initiatives: By identifying what influences students to adopt

digital payments, institutions can enhance their financial education programs to address real-world
financial behaviors and digital challenges.
 Promoting Digital Safety: The study's results can be used to design initiatives that teach students
how to operate DPS responsibly and securely, fostering safer financial habits.

Interdisciplinary Relevance

At its core, this research operates at the crossroads of finance, technology, and education. It explores the
unique position of scholars who are fully involved with digital payments within these overlapping
domains. The findings uncovering applicable knowledge for all three sectors, supporting the growth of a
more inclusive, user-friendly, and secure digital payment environment in India.

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Significance of the Study

The outcomes of this study are anticipated to provide a variety of key stakeholders:

 Banks and Financial Institutions: The insights can inform the design of student-focused
financial products and promotional strategies.
 Policy Makers: Findings may help evaluate the achieve of current digital payment policies and
Determine which areas need policy. support or reform.
 Fintech Enterprises: A deeper understanding of student needs and expectations can guide the
creation of more effective and appealing digital payment solutions.
 Academic Institutions: The research can aid in promoting digital financial literacy and equip
students with the knowledge needed to manage payments securely in an increasingly digital
economy.

Need of the study:

• Bengaluru’s Strategic Relevance:

As one of India’s leading technology centers, Bengaluru is home to a significant student

population that is consistently exposed to innovative digital tools and trends. Investigating digital
payment adoption in this city offers meaningful insights into a tech-savvy demographic likely to
influence the future of financial behavior in the country.

• Students as Early Technology Users:

Students typically represent one of the first groups to experiment with and adopt emerging
technologies. Exploring their motivations, preferences, and barriers related to digital payments can
provide the financial industry with Essential insights for creating more impactful solutions.

• Shaping Future Financial Behaviour:

Through examining student engagement with digital payment systems, Financial entities are able
to tailor their offerings to match this group's expectations. Such insights have the potential to
shape long-term spending patterns and financial decision-making as these individuals transition
into full-fledged consumers.

Gaps in Knowledge:

While Although digital payments are on the rise, the specific factors driving adoption among students in
Bengaluru are not yet well understood. This research aims to fill that void by examining:
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 • Motivations:
What factors drive students to utilize electronic payment system (convenience, security, peer
influence, etc.)?

• Challenges:
What obstacles hinder wider adoption (lack of awareness, security concerns, limited access to
smartphones/internet)?

• Preferred Platforms:
What are the digital payments that are most frequently used. methods among students (mobile
wallets, UPI apps, etc.) and why?

Conceptual framework

Students & Digital Payments: Why do Bengaluru students use (or not use) digital payments?

Key Influences:

• Student Background: Age, education, income (affects access to technology)

• Technology: Phone ownership, internet access (enables digital payments)
• Perceived Benefits: Convenience, security, rewards (motivate usage)
• Perceived Risks: Security concerns, lack of knowledge (deter usage)
• Social Influence: Friends, family, marketing (encourage or discourage)

Financial Literacy & Merchant Acceptance can strengthen or weaken these influences.

The Goal: Understand what drives/hinders digital payments among students.

INTRODUCTION AND BACKGROUND

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1.1 Purpose Of The Study

1.2 Introduction To the Topic

1.3 Overview of Theoretical Concepts

1.4 Company/ Domain / Vertical /Industry Overview

1.5 Environmental Analysis (PESTEL Analysis)

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 CHAPTER 2

REVIEW OF LITERATURE

REVIEW OF LITERATURE

2.1 Domain/ Topic Specific Review

This study goal develop a thorough comprehension of the key factors driving both the acceptance
and ongoing application of electronic payment methods. It involves a detailed review of of the body
of existent literature, drawing on a variety of theoretical models and frameworks relevant to this
field. Special attention is given to recent and thematically pertinent research, ensuring that the
analysis captures current developments, trends, and perspectives within the rapidly evolving digital
payments ecosystem.

Review of Digital Payment system in Literature

1. Bhandare, Purushottam Vishnu (2022):- Drawing on the insights of Bhandare (2022), this study
acknowledges the transformative function of electronic payments advancements in fostering
financial inclusion, specifically for previously unbanked segments of the population. This aligns with
the Reserve Bank of India's 2019 roadmap for a cash-lite economy. The research recognizes the
well-established connection between financial well-being and a multifaceted framework
encompassing financial behaviour, preparedness, adoption of financial services, and overall financial
inclusion.
2. Sonal , (2021):- Sonal (2021) examines the differential elements impacting acceptance and
acceptance of electronic payments among merchants and consumers. Their study, employing a two-
city design (Ranchi and Kolkata), identifies city, gender, and educational qualification as significant
determinants of customer adoption for digital transactions. Notably, age, occupation, income, and
Individual inventiveness was not discovered to have a statistically significant influence. Conversely,
for merchants, The study finds gender, age, and technological affinity as significant determinants of
adoption, while city, educational qualification, and individual inventiveness weren't statistically
significant. This research aligns with the burgeoning prominence of services for mobile payments
(MPSs) as a key segment within the mobile marketing landscape.
3. Martina Franciska A (2021):- Martina Franciska A (2021) highlights the transformative impact of
Information and Communication Technology (ICT) across various sectors, particularly banking.
They emphasize the importance of digital payment literacy among all stakeholders for a complete
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 transformation. Their research, conducted in Tirunelveli district, investigates user awareness,
perception, and preferences regarding digital payments. The study identifies trust, perceived
simplicity of use, considered risk, and digital payment knowledge as significant factors influencing
digital transactions in the district. Interestingly, perceived usefulness and There was no statistically
significant effect of social influence.

4. Mathew Richardson M (2021) identifies a range of technological and human factors that influence
the rise of digital transactions. Their analysis highlights the importance of system reliability,
security, and 24/7 accessibility in fostering user trust. Additionally, factors such as the presence of
compelling incentives and offers, user-friendly interfaces, and access to multiple information sources
are found to contribute to increased adoption.
5. Singodiya, Kush, (2020) suggests that demonetization served as the impetus behind the uptake of
digital payments by a sizable percentage of the Indian population. Their According to study,
youthful users were initially drawn to digital payments due to incentives like coupons and cashbacks.
Interestingly, Additionally, the analysis shows that higher-income groups transitioned to using less
cash compared to middle and lower-income groups.
6. Ajmera, Hiteshi, (2020) observes a notable transition to electronic payments in India, attributing it
to three crucial elements:demonetization, the COVID-19 pandemic, and government initiatives like
Digital India. The Digital India program aims to reduce reliance on intermediaries and promote a
cashless, paperless, and contactless society. Notably, the study identifies a preference for digital
Digital payments are preferred, according to the report. among users aged 16-40, particularly when
voice commands are available in their regional language. This demographic also prioritizes
innovation, rewards programs, and factors like trust, quality of service, and a positive brand image
for the mobile payment applications they utilize.
7. Pradheep Balaji.R (2020) highlights the ubiquitous role of mobile phones in modern life. Their
study finds three important technological advancements shaping the landscape: Aadhaar-based
identity systems, digital payment methods, and aggregated identity systems. They emphasize the
pivotal The function of electronic payments in driving economic growth. Additionally, the report
pinpoints the factors influencing the uptake of digital payments. systems, including reliable internet
connectivity, user-friendly and accessible applications, accurate and timely transaction reporting,
swift processing times, and 24/7 customer support.
8. Shailza (2020) explores the evolution of money from barter systems to digital payments,
highlighting the challenges associated with storing, transferring, and transaction costs of physical
currency. The research examines the initial acceptance of electronic payments in India, where users
were initially drawn to cashback and discount incentives offered by applications like PhonePe and
Google Pay. There are four main components found. by the study as impacting digital payment
adoption: perceived risk, perceived simplicity of usage, trust, and knowledge of digital payments.
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9. Jibin S R (2020) highlights the rise of e-banking, which has revolutionized how users conduct
banking activities, offering a faster and more convenient alternative to traditional queuing methods
through mobile devices. Their research identifies several attributes influencing digital payment
adoption: quality of service, underlying technology, trust in the provider, user location, and bank
type (public or private). AdditionallyThe study highlights the significance of factors like
convenience, flexibility, low transaction costs, transaction speed, access to transaction history, and
transaction confirmation.
10. Monilakshmane, A (2020) explores the elements impacting the acceptance of mobile payments as
seen through the Unified Theory of Acceptance and Use of Technology (UTAUT) model. This
model highlights The significance of performance expectations (perceived usefulness), effort
expectancy (ease of use), social influence (peer pressure), facilitating conditions (availability of
resources), and hedonic motivation (enjoyment of using the technology) on user behaviour.
Interestingly, According to the study, age, gender, and user experience did not have a statistically
significant impact on mobile payment adoption.
11. Raju, Gosala (2019) examines the elements affecting the use electranic payments in rural Andhra
Pradesh. Despite efforts by financial institutions, banks, government to advance economic
accessibility via digital means services, some rural residents remain hesitant to adopt them. Financial
inclusion requires three key components: availability, accessibility, and the application of financial
services. The study identifies obstacles hindering Adoption of digital payments in rural regions,
including geographically distant banks, significant expenses related to financial services, limited and
inadequate financial products offered by rural banks, low trust in the system, and uncertain income
levels for many residents. Conversely, The study also identifies elements that could promote
financial inclusion in rural areas, the relative advantage (perceived benefits) of digital payments,
ease of use, and the perceived risk and self-efficacy (confidence in using) associated with these
services.
12. Venkatesan K (2019) examines the relationship between various factors and online banking
adoption. Their According to study, elements such user awareness, flexibility offered by online
banking, payment options available, quality of customer service, underlying technology, and robust
security measures all have a favorable and noteworthy effect on a user's decision to adopt online
banking.
13. Randiwela and Rajapakse (2018) identified five key dimensions influencing the adoption of
Internet Banking: Perceived danger, perceived utility, and perceived ease of use, perceived trust, and
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 social norms. They emphasized the advantages of Internet banking, such as enhanced safety and
security, rapid transactions, convenience, user-friendly navigation, and round-the-clock accessibility
from any location.
14. Gupta (2017) highlights the importance of bank employees' attitudes towards electronic banking.
Customers benefit from online transactions, which facilitate the adoption of the latest technology,
save time, and provide ease of payment through ATM debit and credit options, thereby enhancing
trust. The study utilized questionnaire methods to analyse the attitudes of bank employees,
presenting the findings through graphical representations such as graphs, pie charts, histograms, and
tables.
15. Lee and Isa (2017) discuss the factors influencing the margin between traditional and Malaysian
Islamic banks. Among these elements for traditional banks are operating expenses., efficiency, credit
risk, perception of risk, market size, operational scale, implicit interest payments, and funding costs.
In contrast, the factors affecting Islamic banks are operating costs, efficiency, market share, and the
handling of implicit interest payments.

16. Salimon et al. (2017) emphasize the combined roles of professed usefulness, as well as usability,
and perceived safety in the execution of e-banking. Their evaluation underscores the significant and
positive relationship between perceived utility and and (PU), perceived security, and e-banking
adoption. The empirical findings highlight favorable correlations between perceived utility and,
perceived security, e-banking adoption, and hedonic motivation.

17. Hanafizadeh and Zareravasan (2017) focus on conducting an in-depth analysis to comprehend the
critical elements affecting Outsourcing Information Technology (ITO) decisions within the kingdom
of e-banking. Their The results of the investigation come from theoretical discussions and hypothesis
testing, confirming nine out of eleven assumed factors. These factors encompass perceived
advantages, perceived advantages that are intangible, perceived information security, complete
contract establishment, trustworthy relationships, and business uncertainty.

18. Nirmala and Sonu (2017) have determined a number of important variables influencing gains of
plastic money. They emphasize that instant transactions, easier, convenience, timesaving attributes,
portability, and security are among the major factors. According to the study's findings, the
population is inclined towards using plastic money due to its great degree of usability and
convenience.

19. Alalwan, Dwivedi, and Rana (2017) examined the elements affecting the uptake of mobile banking
among the residents of Jordan. Using primary information obtained from 343 participants, they
found that intention to use, facilitating conditions, and behavioural intention were the most
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 influential factors.
There was no social influence that significant impact. The study omitted demographic variables like
gender and age, and experience from its analysis.

20. Szopiński (2016) investigated the factors contributing to the success of online banking in Poland
among bank customers. Utilizing Linear Regression Analysis, the study identified internet usage,
attractive and innovative banking products, and trust as major influencing factors. Additionally, age,
educational qualifications, ease, safety, and responsiveness were found to play significant roles in the

acceptance of internet banking in Poland.

Research Gaps:
Research Gaps: Factors Influencing Digital Payments Among the pupils inin Bengaluru

India's quick adoption of digital payments calls for a deeper exploration of the elements affecting their
uptake, particularly among tech-savvy youth demographics like students. This research attempts to look at
these factors in the background of Bengaluru, a leading hub of innovation in technology and education.
By addressing existing gaps in the literature, the study aims to produce useful insights that can support
more inclusive and effective digital payment systems.

1. Nuanced Demographic and Socioeconomic Factors:

Although previous research touches on general demographic factors, this research will explore
more specific variables such as students’ academic discipline (e.g., engineering vs. humanities), year
of study, and scholarship status to comprehend their impact on digital payment behavior within
Bengaluru's student population.

2. Specificity in Payment Methods and Usage Patterns:

Rather than focusing solely on convenience This study will investigate which digital payment tools
—such as UPI, mobile wallets, and QR codes—are most commonly used by students, and in what
contexts (e.g., cafeteria payments, e-commerce, peer transfers), thereby mapping a detailed usage
pattern..

3. University/College Initiatives and their Impact:

The role of universities and colleges in promoting digital payments among students remains
relatively unexplored. This research will investigate the initiatives undertaken by educational
institutions in Bengaluru to encourage digital transactions. Do they offer incentives, workshops, or
have cashless infrastructure in place? Understanding these efforts will illuminate how educational
settings can shape student behaviour.

4. Security Concerns Tailored to a Tech-Savvy Demographic:

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 Security hurdle in digital payment adoption. This research will go further by analyzing how tech-
savvy Bengaluru students perceive dangers to digital security payments compared to other
demographics. Do their concerns differ from those of less techproficient populations?

5. Unveiling the Influence of Peer Groups and Social Media:

Social media and peer groups have a great deal of influence over student behaviour. This research
attempts to look at these factors influence digital payment adoption among Bengaluru students. Are
there social media trends or peer recommendations that drive their choice of payment methods?
Gaining understanding from these interactions will be beneficial. into how social influence shapes
financial decisions.

6. Financial Literacy and Tailored Digital Payment Awareness:

Financial literacy initiatives can help learners create prudent economic choices, including
implementing digital payments. This research will assess the current financial literacy programs
offered in Bengaluru's educational institutions and how effectively they address digital payments.
Are there gaps in student awareness or knowledge that need to be addressed?

7. Quantifying The Effect of Government Initiatives:

The government of India has aggressively supported digital payments through various
initiatives. This The initiative will investigate how these initiatives, such as cashback offers or digital
payment campaigns, have specifically impacted students in Bengaluru. By quantifying the impact,
the research can inform future policy decisions.

8. Exploring the Future Landscape of Digital Payments:

Emerging technologies like blockchain or contactless payments are influencing the sequence of digital
transactions. This research attempts to look at students feel about these new technologies and their
potential impact on digital payment usage in Bengaluru. Understanding Perceptions among students
will shed light on future trends.

9. Unveiling the Psychological Landscape:

The study will go beyond basic demographics to discover the psychological underpinnings of
students' financial decision-making. How do factors like risk aversion, impulsivity, or financial
planning styles influence their digital payment behaviour? Does the perceived "invisibility" of digital
money compared to cash impact spending habits? Through the integration of behavioral finance
concepts, the research can offer a more sophisticated comprehension of student financial choices.

10. Gamification and Rewards: A Double-Edged Sword?:

The growing popularity of gamified digital payment apps with loyalty programs warrants further
investigation. This study will investigate the ways in which these factors impact student engagement
and transaction frequency. However, the potential ethical implications of gamification and its impact
on overspending among students will also be examined. This balanced approach
will provide a more comprehensive summary of the influence of these strategies.

11. Data Privacy Concerns and Fintech Trust:

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 With growing worries regarding data privacy, this research will explore student perceptions of data
security practices employed by digital payment companies in Bengaluru. Does their level of trust in
these companies influence their willingness to adopt and continue using digital payments?
Strategies to establish trust and promote a additional safe online payment methods environment for
students can be informed by an understanding of this relationship.

Navigating the Informal Economy and Cash Dependence:

Bengaluru's thriving informal economy necessitates a deeper understanding of student behaviour in

cash-centric situations (street vendors, local transportation). This study will look at how students
navigate this divide and whether it hinders the complete shift towards digital payments. Exploring
alternative solutions like USSD-based payments or offline wallets can pave the method for wider
student inclusion in the digital payment landscape.

12. Bridging the Digital Divide for Inclusive Access:

Not all students in Bengaluru possess smartphones or reliable internet connectivity. This research
will address the digital divide and its impact on student participation in the digital payment
ecosystem. Exploring alternative solutions for broader financial inclusion, such as USSD-based
payments or offline wallets, a valuable contribution to this area.

13. Envisioning the Future Student-Centric Payments:

This research will explore students' expectations regarding the future of electronic transactions. Are
there emerging technologies (biometric authentication, wearable payments) that they find particularly
appealing? By understanding their perspectives, the study can inform The evolution of electronic
payments solutions that cater more effectively to student needs and preferences.

14. Digital Payments and Financial Literacy:

Digital payments' possible effects on students' money organization and budgeting practices warrants
further investigation. This research will look into how digital payment apps can be made to
encourage responsible financial behaviour by incorporating features like spending trackers or savings
goals. Understanding this link can aid in the creation of financially empowering tools for students.

15. Longitudinal Analysis for Evolving Behaviour:

Most research focuses on a single snapshot in time. This study proposes a longitudinal approach to
track how student digital payment behaviour evolves over their academic journey in Bengaluru. By
following a cohort of students over time, The research can provide valuable details regarding
changes in motivations, preferred methods, and challenges faced. This longitudinal perspective a
richer understanding of The fluid character of student digital payment adoption.

By addressing these underexplored dimensions, this dissertation seeks to make a meaningful

contribution to the corpus of research on students' acceptance of digital payments in Bengaluru. The
information gleaned from this research will not only enhance academic comprehension, but
additionally provide practical value to policymakers, educational institutions, and financial service
providers. Ultimately, the study aims to assist in the creation of focused strategies and interventions
that foster secure, inclusive, and widespread adoption of digital payments within this vital and
increasingly digital-native demographic..

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Additional Considerations:

• This research will employ a mixed-methods approach, utilizing both quantitative (surveys) and
qualitative (interviews) data collection methods to capture the nuances of student experiences
and motivations.

• A stratified sampling approach will be used to compare digital payment usage patterns across
different areas of Bengaluru (central areas vs outskirts) to understand any variations within the
city's student population.

By filling in these gaps in understanding, this work seeks to offer a thorough grasp of the factors
influencing digital payments among students in Bengaluru. This data can help direct concentrated
interventions. by educational institutions, policymakers, and financial service providers to encourage the
safe and broad use of electronic payments within this crucial demographic.

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 CHAPTER 3

RESEARCH METHODOLOGY

Statement of Problem
Despite extensive efforts by the Indian government—such as initiatives like Digital India, the
introduction of Jan Dhan Yojana accounts, and the policy shift during demonetization—cash remains
the predominant mode of transaction in the country. With only around 20% of total transactions
occurring digitally, A substantial number of people continues to exhibit resistance in the direction of
digital payments adoption. To better understand this behavioural gap, the’ (UTAUT) provides a useful
analytical framework. UTAUT identifies key determinants of technology adoption, including effort
expectancy (perceived ease of use), performance expectancy (anticipated efficiency and time
savings), social influence (peer and societal pressure), and facilitating conditions (access to
infrastructure and connectivity). The model also emphasizes behavioural intention as a predictor of
usage. Applying UTAUT Within this framework, it offers useful information about the obstacles in
the way of digital payments hindering digital payment adoption and supports the formulation of
context-specific strategies by policymakers and financial entities. Such strategic efforts could
contribute significantly to advancing India's digital financial ecosystem.

The main research inquiries investigated in this study are:

• What are the primary elements impacting the acceptance of online payments?
• Are digital payments convenient and easy to use?
• Charges incurred during digital payment processing discourage their use?
• Is the current ecosystem conducive to widespread adoption of digital payments?
• Do digital transactions offer complete transparency for all financial activities?

Objectives:
This dissertation seeks to fully investigate the elements affecting Students' adoption and use of
electronical payment solutions in Bengaluru, India. By employing a mixedmethods approach and
concentrate on the student demographic, their experiences, and the broader ecosystemThis study will
produce important perspectives for policymakers, financial bodies, and industry players educational
institutions.
Specific Research Objectives:

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Determine Core Adoption Drivers: Utilize a combination of numerical analysis and descriptive
research approaches to uncover the Crucial elements that shape the adoptionand Adoption of
electronic payment methods by students Bengaluru. Key areas of focus will include convenience,
security perceptions, technological familiarity, and the role of social acceptance.

 Analyze Platform Preferences and Usage Patterns: Identify the The electronic payment
method that is most frequently utilized system platforms—such as UPI and mobile wallets—
among the student population. Investigate the underlying reasons for platform choice and
detect any emerging usage trends.

 Assess User Attitudes and Perceptions: Explore student perspectives In relation to several elements
of digital payments, including perceived ease of use, security, interface design, and control over
personal finances. Understanding these perceptions will be essential in analyzing usage patterns and
identifying potential areas for enhancement.

 Examine Sociodemographic Factors: Conduct statistical analyses to explore how demographic

variables—such as age, gender, income level, and academic discipline—influence students' adoption
and execution of digital payment solutions systems.

 Evaluate the Part of Social and Institutional Influence: Investigate the influence of peer networks,
family members, university-led initiatives, and marketing campaigns on students’ willingness to adopt
digital payment technologies.

 Identify Barriers and Challenges: Use qualitative techniques, such as interviews and focus group
discussions, to identify key obstacles students face in adopting digital payments. These may include
limited internet connectivity, lack of access to smartphones, insufficient awareness, or perceived
difficulty in using the technology.

 Formulate Policy and Intervention Strategies: Based on empirical findings, Develop

feasible proposals for policy makers financial institutions, and educational institutions aimed
at enhancing The uptake and efficient utilization of digital payment systems by students in
Bengaluru.

 Investigate Security Awareness and Risk Mitigation: Assess students’ Awareness of digital
payment security and the measures they take to safeguard themselves from fraud, such as password
management, app permissions, and awareness of phishing risks.

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 Explore the Impact on Financial Literacy: Examine the influence of digital payment usage on
students’ financial habits and literacy, particularly in areas like budgeting, tracking expenses, and
savings behaviour.

Compare Digital and Traditional Payment Methods: Conduct a comparative study to

evaluate student experiences and preferences between digital payment systems and conventional
cash-based methods. This Will deliver in-depth understanding of shifting payment behaviours and
areas where digital solutions may outperform traditional alternatives.

This in-depth research approach will provide a detailed understanding of digital payment adoption and
usage among students in Bengaluru. The results will guide various stakeholders in crafting focused
initiatives aimed at promoting financial inclusion and literacy, strengthening the security framework of
digital transactions, and fostering broader adoption of digital payment systems. within the student
community.

Hypothesis:

Convenience

Testing of H01

 Null Hypothesis (H0): There is no association between gender and students’ perception
of digital payment systems offering the latest encryption to prevent unauthorized
intrusion.
 Alternative Hypothesis (Ha): Gender is associated with students’ perception of digital
payment systems offering the latest encryption to prevent unauthorized intrusion.

Testing of H02

 Null Hypothesis (H0): There is no association between gender and students’ view of
digital payments as protecting personal and financial information.
 Alternative Hypothesis (Ha): Gender is associated with students’ view of digital
payments as protecting personal and financial information.

Testing of H03

 Null Hypothesis (H0): There is no association between gender and students' perception
of digital payments avoiding the risk of receiving fake or counterfeit currency.
 Alternative Hypothesis (Ha): Gender is associated with students' perception of digital
payments avoiding the risk of receiving fake or counterfeit currency.

Testing of H04

17
  Null Hypothesis (H0): There is no association between gender and students' belief that
digital payments transfer the risk of handling cash, thus avoiding theft or robbery.
 Alternative Hypothesis (Ha): Gender is associated with students' belief that digital
payments transfer the risk of handling cash, thus avoiding theft or robbery.

Testing of H05

 Null Hypothesis (H0): There is no association between gender and students' perception
that digital payment platforms are more advanced compared to cash.
 Alternative Hypothesis (Ha): Gender is associated with students' perception that digital
payment platforms are more advanced compared to cash.

Safety and Security

Testing of H06

 Null Hypothesis (H0): There is no association between gender and students' perception
that digital payments improve service quality, in terms of processing time and comfort.
 Alternative Hypothesis (Ha): Gender is associated with students' perception that digital
payments improve service quality, in terms of processing time and comfort.

Testing of H07

 Null Hypothesis (H0): There is no association between gender and students' belief that
digital payments provide greater flexibility and faster payment options.
 Alternative Hypothesis (Ha): Gender is associated with students' belief that digital
payments provide greater flexibility and faster payment options.

Testing of H08

 Null Hypothesis (H0): There is no association between gender and students' view that
digital payments eliminate the need for counting or checking currency.
 Alternative Hypothesis (Ha): Gender is associated with students' view that digital
payments eliminate the need for counting or checking currency.

Testing of H09

 Null Hypothesis (H0): There is no association between gender and students' perception
that digital payments eliminate the need to wait in line for payment of goods.
 Alternative Hypothesis (Ha): Gender is associated with students' perception that digital
payments eliminate the need to wait in line for payment of goods.

Testing of H10

 Null Hypothesis (H0): There is no association between gender and students' belief that
digital payments enhance the reliability of services.

18
  Alternative Hypothesis (Ha): Gender is associated with students' belief that digital
payments enhance the reliability of services.

Scope of the study

• This investigation explores digital payment apps accessed by individuals online through
computers and mobile devices.
• The behavioural impact of use of digital payments
• The study focuses on respondents from Bangalore Urban and Rural areas, encompassing various
age groups. We have chosen Bangalore, a prominent IT and BT hub, India's Silicon Valley, for
this research, while acknowledging the exist of 29 other districts in Karnataka.

Sampling Design
This study examinesthe primary determinants of users' propensity to embrace digital payment
methods in Bengaluru. It focuses on user behavior and the underlying motivations for using digital
payment systems within the city. Data was gathered through a Google Form questionnaire, that was
distributed to 240 active digital payment users using a snowball sampling method—where initial
respondents shared the survey within their networks.To enhance the validity of the questionnaire, a pilot
study involving 50 participants was conducted. Insights emerging from this initial stage were utilized to
refine and improve the final draft of the survey instrument.The gathered information was examined
through a range of statistical techniques. SPSS software was employed to determine measures of central
tendency (mean), dispersion (standard deviation), and the relationships between variables using chi-square
tests. In addition, exploratory techniques such as factor analysis were potentially applied to identify latent
variables influencing digital payment adoption.The research approach likely integrated elements of
experimental, descriptive, and exploratory designs to gain a holistic understanding of user behavior. The
results indicate that elements like infrastructure readiness, technological support, user awareness, ease of
access, merchant credibility, innovation, social influence, and adaptability shaping users’ willingness to
adopt electranic payment systems.

Data collection method.

to this study, a The study adopted a convenience sampling technique, recruiting participants
readily available within Bangalore's urban areas. The sample population was likely categorized
based on demographic characteristics such as income, age, gender, occupation, and residential
location to ensure a representative sample.

To ensure the effectiveness of the questionnaire, a pilots education was showed with 25 participants. Their
response was then used to refine the questionnaire before finalization.

-SAMPLING AND QUESTIONNAIRE DISTRIBUTION.

Variables and their rating scale

Question Variables. No. of Description/ Types
items

19
 1 Demographics . 6 Gender, Age, Occupation, Income,
etc..

2 Usage of Plastic money or cards, E- 8 Yes/ No

wallets, USSD, AEPS, IMPS, UPI,
Internet Banking, and more

3 Convenience 5 Strongly Strongly Agree, Agree,

Neutral, Disagree, and Disagree

4.0 Cut in Operational Spending 5 Strongly Disagree, Disagree,

Neutral, Agre, Strong Agree

5.0 Protection and Risk Mitigation 5 Strongly Disagree, Disagree,

Neutral, Agree, and Strongly Agree

6.0 Mirror transactions 5 Strongly Disagree, Disagree,

Neutral, Agree, Strongly Agree

7.0 Influence of social networks 5 Strongly Disagree, Disagree,

Neutral, Agree, and Strongly Agree

8.0 Creative new influence and Image 5 Strongly Disagree, Disagree,

perception
Neutral, Agree, then Strongly Agree

Respondents and their distribution

SL. Total No. of Respondents No.of sample Responses
No approached Have in Left out
No willing Pilot Study
1 310 240 70 25

Limitations of the study.

• The dynamic nature of market conditions presents a challenge for this research.
• The generalizability of the study's findings may be limited by the sample size.
• This research prioritizes exploring factors influencing digital payment adoption, and excludes
examining current or historical trends in digitaal payment usage.

20
• Limiting the education to Bangalore's City and countryside districts restricts the generalizability of
findings regarding user awareness, preferences, and perceptions towards digital payments across
Karnataka.
• The research design might be susceptible to participant bias, where individual preferences,
existing awarenessand opinions regarding electronic payments could influence their responses.
• This research focuses solely on understanding customer perspectives on digital payment adoption,
neglecting the potential influence of seller experiences.

21
 CHAPTER 4

ANALYZING DATA AND

INTERPRETATION
This section presents the analysis data and interpretation, the cornerstone of this study. Statistical
methods will be employed to unveil The elements impacting the adoption of electronic payment
methods among Bengaluru students Key findings will be summarized by descriptive statistics.
demographics, awareness levels, perceived benefits/security of digital payments, and actual usage
patterns. Inferential statistics will then be used to identify patterns, test hypotheses about factors
like tech-savviness, and understand user behaviour through correlations and potential regression
analysis. The analysis aims to pinpoint the most significant drivers influencing student adoption
of digital payments. However, limitations such as sample bias and generalizability will be
acknowledged. Ultimately, by interpreting these findings, we seek to offer insightful information
to students, academic institutions, and policymakers in fostering a more informed and inclusive
digital payment ecosystem within the Bengaluru student population.
Socio- Demographical profile of Respondents

1. Gender Respondents' category

The number of male and female respondents, along with their respective percentage proportions, is
presented in the table.
-Table No. 4.1: Respondent Distribution As stated to Gender.>
SI .n Particulars … No of Percentage
um
Respondents (%)

1 Male 110 50%

2 Female 110 50%

220 100%

Source: Primary data .

"An analysis of respondent demographics reveals a balanced gender distribution within the
sample. Fifty percent (50%) of the 220 participants identified as male, with the remaining 50%
identifying as female."

22
 Gender

61.75 38.25

Male Female

-Graph Num 4.1: the respondents' gender-based distribution.

2. Age group of responders

3. The table illustrates the respondents' ages alongside their corresponding

percentage values.

Table No 4.2: Respondent distribution based on age

SL.no Age (in years) Number of responders. Ratio (%)

1 20-29 304 83.06
2 30to39 55 15.03
3 40to49 5 1.37
4 Above 50 .o 2 0.55
240 .o 100
Source: original information

Examining the age distribution of the 240 respondents, I find that the majority (76.3%) fall within the
20-29 age group. The remaining participants are spread across 30-39 years (20.8%), 40-49 years
(2.1%), and above 50 years (0.8%). This suggests a clear dominance of young users (20-29) compared
to other age groups.

23
 Age

Above
40 50,,0.8
-49, 2.1 2%, 1%

30-39, 20.8, 21%

20-29, 76.3, 76%

20-29 30-39 40-49 Above 50

Graph no 4.2: Respondent distribution based on age

Respondents' category of occupation

Table no 4.3: Category of occupation of Respondents
SI.no Occupation Number of responders. Ratio (%)
1 Salary persons 38 15.80
2 Businessmans 5 2.10
3 Homemakers 4 1.70
4 Student. 193 80.4
240 100

Source: Primary data

Analyzing the occupational breakdown of the 240 respondents, the data reveals a significant majority
(80.4%) are students. The remaining participants are categorized as salaried employees (15.8%),
business owners (2.1%), and housewives (1.7%). This distribution highlights the dominance of
students within the sample.

24
 Occupation

15.8
2.1
1.7
Salary per
Businesme
ns
Homemakers
Student

80.4

Graph no 4.3: Occupational Distribution of Respondents

4. Revenue Group
Table no 4.4: Income-wise Distribution of Respondents
SI.no Income (per month) Number of responders. Ratio (%)
1 Upto 20,000 .00 89 .00 37.08
2 20,001 to 40,000 .00 76 .00 31.70
3 40,001.00 to 60,000 .00 25.00 10.40
4 Above 60,000 .00 50.00 20.80
240 .00 100
Source: Orogianl data

"Examining the income distribution of the 240 respondents, the analysis reveals that the largest group
(37.08%) falls within the income bracket of up to ₹20,000 per month. The remaining participants are
spread across ₹20,001 - ₹40,000 (31.7%), ₹40,001 - ₹60,000 (10.4%), and above ₹60,000 (20.8%).
This indicates that the most common income range is up to ₹20,000 per month."

25
 Income

20.8

37.08 upto 20,000

20,001-40,000
10.4 40,001-60,000
Above 60,000

31.7

Graph no 4.4: Respondents were distributed by income.

5. Domicile category

Table no 4.5: Domicile-wise Distribution of Respondents

SI.no Domicile Number of responders. Percentage (%)

1 Bangalore Urban. 154.00 064.17
2 Bangalore Rural. 86 .0 035.83
240 .0 100 .00

Source: Primary data

"The analysis of respondents' domicile reveals a distribution favouring Bangalore Urban. 64.17% of
the 240 participants reside in Bangalore Urban, while 35.83% reside in Bangalore Rural (n=154 and
n=86, respectively). This trend suggests a higher concentration of respondents from Bangalore Urban
compared to rural areas."

26
 Domicile

35.83
Bangalore Urban
Bangalore Rural

64.17

Graph no 4.5: Distribution of Respondents according to Domicile

6. Number of Digital Transactions per day/ (on Average),

Table no 4.6: Number of Digital Transactions per day.
SI.no Transaction Frequency (count) Number of Ratio (%)
responders.
1 1-5 169 .00 70.42
2 6to10 46 .0. 19.20
3 11to20 17.0 7.10
4 Above 20 8 .0 3.30
240.0 100

Source: Primary data

"An analysis of the self-reported frequency of electronic payments among the 240 respondents
reveals a clear pattern. The largest segment (70.42%) conducts digital transactions between 1 and
5 times per day. The remaining participants exhibit a decreasing prevalence across higher
transaction frequencies: 6-10 times (19.2%), 11-20 times (7.1%), and more than 20 times (3.3%)
per day."
Based on the above data, it can be stated that the highest frequency of transactions falls within the
range of 1–5, with approximately 169 respondents favoring this range.

27
 No of transactions per day

8
7.1

1-5

19.2 6-10
11-20
Above 20
70.42

Graph no 4.6: Number of Digital Transactions per day

Utilization of plastic cards, Unified Payments Interface (UPI), online banking, digital wallets,
Immediate Payment Service (IMPS), Unstructured Supplementary Service Data (USSD),
Aadhaar Enabled Payment System (AEPS), and other digital payment modes

1. Utilization of plastic money, including Debit Cards, Credit Cards, RuPay, and Visa

Table no 4.7: Usage of Plastic money

SI.no Question on Utilization Number of Ratio (%)
responders.
1 Yes 170.0 070.8
2 No 70 0 029.2

Source: Field data

From the table, it can be inferred that 70.8% of respondents use plastic money, while 29.2% opt for
other payment methods. This indicates that the majority of users in both Bangalore Urban and Rural
areas prefer plastic money as a primary payment option.
2. Use of Unified payment Interface (UPI)
Table no 4.8: Use of UPI
SI.no Question on usage Number of Ratio (%)
responders.
1 Yes 206 .0 085.8
2 No 34.0 014.2
Source: Field data

Examining payment method preferences, the data reveals UPI (Unified Payments Interface) as the
dominant choice among respondents in Bangalore Urban and Rural. A significant majority (85.8%)

28
 reported using UPI, compared to only 14.2% utilizing other options. This translates to approximately
206 respondents within the study who favor UPI for their digital transactions.

3. 3. Using online banking to make digital payments (RTGS, SWIFT, NEFT) Table No.
4.9: Internet Banking Usage
SI.no Question on usage Number of Ratio (%)
responders.
1 accept 106 .0 044.2
2 Not accpt 134 .0 055.8

Source: Field data

"The analysis of preferred electronic payment options indicates that internet banking holds a moderate
position at 44.2%, in comparison to alternative choices (14.2%). It's essential to note that this category
likely encompasses internet banking facilities provided by various banks through mobile apps and
personal computers, such as those provided by SBI Yono, Canara Bank, and Citibank."
4. Use of Immediate Payment Services (IMPS)
Table no 4.10: Use of IMPS
SI.no Question on usage Number of Ratio (%)
responders.
1 accept 99.0 0.41.3
2 Not accpt 141 .0 058.8

Source: Field data

The data suggests that Immediate Payment Service (IMPS) usage sits at 41.3%, while other payment
options account for the remaining 58.8%. This finding might indicate a decline in IMPS preference
compared to more prevalent methods like UPI and plastic money.
5. Use of Unstructured Supplementary Service Data (USSD) Table
no 4.11: Use of USSD
SI.no Question on usage Number of Ratio (%)
responders.
1 accept 30.0 012.5
2 Not accpt 210 .0 087.5

Source: original information

According to the analysis, only 12.5% of respondents use Unstructured Supplementary Service
Data (USSD), indicating an extremely low acceptance rate. When compared to other options, this
indicates a lack of knowledge or preference for USSD payments (87.5%). To promote USSD as
a practical digital payment option, more extensive public awareness efforts may be required.
6. Use of Aadhaar Card Enabled Payment System (AEPS) Table no 4.12: Use of
AEPS

SI.no Question on usage Number of Ratio (%)

responders.

29
 1 accept 069 .0 028.7
2 Not accpt 171 .0 071.3

Source: Primary data

"The data indicates a relatively low adoption rate (28.7%) for Aadhaar Enabled Payment System
(AEPS) compared to another payment methods (71.3%). While AEPS functions as a bank-led model
using Aadhaar authentication, its novelty might be a factor contributing to the lower usage. Further
efforts to promote user awareness and education about AEPS could be beneficial."
7. Using digital payment methods other than those mentioned above
Table no 4.13: Use of other digital payments
SI.no Question on usage Number of Ratio (%)
responders.
1 Yes 81 .00 33.8
2 No 159 66.2

Source: Primary data

"According to the data, 33.8% of payments are made using the Immediate Payment Service (IMPS), with
the remaining 66.2% being made through other digital payment methods. This result implies that
respondents may not be as familiar with IMPS as they are with the aforementioned options.
Convenience, safety and security, transparency, and the perceived influence of innovation and brand
image are the four main aspects taken into account in this study.

Variable 1 – Convenience

a. electronic payment sysstem provides latest encrryption safeguard personal and financial
information.

Table no 4.14: electronic pay provides latest encryption.

Particulars Number of Respondents Percentage (%)
Strongly Disagree 20 8.33
Disagree 18 7.5
Neutral 67 27.92
Agree 67 27.92
Strongly Agree 68 28.33
Total Respondents 240 100

30
 Latest Encryption
30 27.92 27.92 28.33

25

20

15
Latest Encryption
10 8.33 7.5

0
St.Disagree Not agree ntrl Agre Str. Agree

Graph no 4.7: Digital online payment provides latest encryption.

Overall, the table reveals a positive user perception of encryption in digital payment systems. Over
56% (Strong Agree + Agree) of users expressed confidence in the security measures. However, a
minority (15.83%) remains unconvinced, highlighting the need for continuous efforts to improve
transparency and user education on security protocols.
b. Digital Personal and financial data remain secure and are not transmitted to any unauthorized
recipients through the payment process.

Table no 4.15: Digital payment Protect personal and financial information.

Particulars Number of Respondents Percentage (%)
Strongly Disagree 79 32.92
Disagree 68 28.33
Neutral 41 17.08
Agree 25 10.42
Strongly Agree 27 11.25
Total Respondents 240 100

Protect personal and financial information .

40 32.92
28.33
30
20 17.08
10.42 11.25 Protect personal and financial
10 Information.
0

31
 Graph no 4.8: Digital payment protect personal and financial data c. Digital
Payment reduces the chance of obtaining counterfeit currency.
Table no 4.16: Digital payment avoids risk of receiving fake currency
Particulars Number of Respondents Percentage (%)
Strongly Disagree 27 11.25
Disagree 27 11.25
Neutral 41 17.08
Agree 58 24.17
Strongly Agree 87 36.25
Total Respondents 240 100

Avoids fake currency

40 36.25

30 24.17
20 17.08
11.25 11.25
avoids fake currency
10
0

Graph no 4.9: Digital payment removes the possibility of getting counterfeit cash.
d. Using digital payment methods reduces the risk of cash theft and robberies.

Table no 4.17: Digital Payment mitigates the danger of cash theft or robbery.

Particulars Number of Respondents Percentage (%)

Strongly Disagree 21 8.75
Disagree 16 6.66
Neutral 28 11.67
Agree 57 23.75
Strongly Agree 118 49.17
Total Respondents 240 100

avoid theft
60 49.17

40
23.75
avoid theft
20 8.75 11.67
6.66
0

Graph no 4.10: Digital Payment mitigates the danger of cash theft or robbery.

32
d. Digital truncation process is more sophisticated than amount that one as cash

Table no 4.18: Digital payments are more sophisticated than cash.

Particulars Number of Respodents Perce (%)

Strongly Disagree 77 32.08
Disagree 63 26.25
Neutral 59 24.58
Agree 21 8.75
Strongly Agree 20 8.33
Total Respondents 240 100

more sophisticated than cash.

40 32.08
30 26.25 24.58
20
8.75 8.33
10 more sophisticated than cash
0

Graph no 4.11: Digital payments are more complex than cash.

Table 4.19 shows how convenience as a criterion affects the overall assessment of digital
payment, which is more sophisticated than cash.

Rating Latest Protection of Avoid fake Avoid More

scale Encryptionn. Information., currency. Theft. Sophisticated than
cash.
1 21.0 26 .0 27 .0 21 .0 20 .0
2 19 .0 24 .0 27 .0 16 .0 21 .0
3 68 .0 42 .0 41 .0 28 .0 59 .0
4 68 .0 69 .0 58 .0 57.0 63 .0
5 68 .0 78.0 87 .0 118 .0 77 .0

33
 140

120

100
1
80
2
60
3
40 4
20 5

0
Latest Protection of Avoid fake Avoid Thieft More
Encryption. Info currency Sophisticated
than cash.

Graph no 4.12Convenience affects digital payments.

According to table 4.19 and graph 4.12, convenience is primarily influenced by avoiding theft and
phony currency, with the majority of respondents strongly agreeing.
Rating Latest Protection of Avoid fake Avoid More Sophisticated
scale Encryption Information currency Theft than cash
Total 865 867 871 955 876
Mean 3.60 3.61 3.63 3.98 3.65
Standard 1.21 1.33 1.36 1.29 1.24
Deviation

Variable 2 – Reduced operational costs a. Digital payment saves time for customers.

Table no 4.21: Digital payment saves the time of customer

Particulars Number of Respondents Percentage (%)

Strongly Disagree 12 5
Disagree 5 2.08
Neutral 24 10
Agree 54 22.5
Strongly Agree 145 60.42
Total Respondents 240 100
Graph no 4.13: Customers save time by using digital payments.

34
 a. Digital Payment ensures simplicity and ease of

Table no 4.22: Digital Payment ensures simplicity and ease of of usage.

Particulars Number of Respondents. Percentage (%)

Strongly Disagree 13 5.42
Disagree 8 3.33
Neutral 28 11.67
Agree 67 27.92
Strongly Agree 124 51.67
Total Respondents 240 100

Ease of use
60
51.67
50

40

30 27.92
Ease of use
20
11.67
10 5.42
3.33
0

Graph no 4.14: Digital Payment ensures simplicity and ease of usage.

c. Digital Payment is most suitable for small-value transactions.

Table no 4.23: Digital payment best for small value transactions

Particulars Number of Respondents Percentage (%)

Strongly Disagree 17 7.08
Disagree 13 5.42
Neutral 38 15.83
Agree 59 24.58
Strongly Agree 113 47.08
Total Respondents 240 100

35
 best for small value
60 47.08
40 24.58
15.83
20 7.08 5.42 best for small value
0
Strongly Disagree Neutral Agree Strongly Agree
Disagree

Graph no 4.15: Digital payment best for small value transactions

d. Transaction charges for digital payments are lower than those for banking transactions.
Table no 4.24: Digital payment reduces transaction charges
Particulars Number of Respondents Percentage (%)
Strongly Disagree 16 6.67
Disagree 16 6.67
Neutral 76 31.67
Agree 57 23.75
Strongly Agree 75 31.25
Total Respondents 240 100

Reduce transaction chrage

40 31.67 31.25
30 23.75
20
10 6.67 6.67 Reduce transaction chrage

0
Strongly Disagree Neutral Agree Strongly
Disagree Agree

Graph no 4.16: Digital payment reduces transaction charges

Table 4.25 shows how reduced operational costs effect digital payments.
Rating Time saving Ease of use best for small value Minimal transaction
scale charges
1 12 .0 13 .0 17 .0 16 .0
2 5 .0 8 .0 13 .0 16 ,0
3 24 .0 28 .0 38 .0 76 ,o
4 54.0 67 .0 59 .0 57 .0
5 145 .0 124 .0 113 .0 75.0

36
 Reduced operational cost
200
150
100
50
0
Time saving Ease of use best for small value Minimal transaction
charges

1 2 3 4 5

Graph no 4.17: Digital payments are affected by decreasing operational costs. Table 4.26: Reduced
operational costs as measured by mean and standard deviation.

Time Ease of use best for Minimal transaction charges

saving small value
Total 1035 .00 1001 958 879
Mean 04.3125 4.17 3.99 3.66
Standard Deviation 1.07 1.11 1.22 1.17

Variable 3 - Security and Safety

a. The quality of service would increase in terms of processing time and comfort

Table no 4.27: Digital payment of service reduces processing time and provides comfort
Particulars Number of Respondents Percentage (%)
Strongly Disagree 12 .0 5 .0
Disagree 17 .0 7.08
Neutral 50 .0 20.83
Agree 73 .0 30.42
Strongly Agree 88 .0 36.67
Total Respondents 240 .0 100

37
 less processing time
40 36.67
35
30.42
30

25
20.83
20
less processing time
15

10 7.08
5
5

0
Strongly Disagree Neutral Agree Strongly
Disagree Agree

Graph no 4.18: Digital payment quality of service cuts down on processing time and offers comfort.
b. Digital payments offer quicker and more flexible payment choices.

Table no 4.28: Faster and more flexible payment possibilities are offered by digital payments.

Particulars Number of Respondents Percentage (%)

Strongly Disagree 8 3.33
Disagree 12 5
Neutral 34 14.17
Agree 72 30
Strongly Agree 114 47.5
Total Respondents 240 100

Flexible & fast

50 47.5
45
40
35 30
30
25
20 Flexible & fast
14.17
15
10 5
3.33
5
0
Strongly Disagree Neutral Agree Strongly
Disagree Agree

38
Graph no 4.19: Digital More flexibility and quicker payment choices are offered for convenience.
b. When using digital payments, there is no need to count or verify the coins or currencies.
Table No. 4.29: Digital payments that eliminate the need for currency counting or verification
Particulars Number of Respondents Percentage (%)
Strongly Disagree 12 5
Disagree 12 5
Neutral 41 17.08
Agree 45 18.75
Strongly Agree 130 54.17
Total Respondents 240 100

No checking required
60 54.17

40
17.08 18.75
20 No checking required
5 5
0
Strongly Disagree Neutral Agree Strongly Agree
Disagree

Graph no 4.20Digital payments eliminate the need to count or verify cash.

b. There Waiting in line to pay for products is not necessary.

Table no 4.30: Digital payment doesn’t require For the sake of convenience

Particulars Number of partipate Per (%)

Strongly Disagree 18 7.5
Disagree 13 5.42
Neutral 35 14.58
Agree 52 21.67
Strongly Agree 122 50.83
Total Respondents 240 100

39
 No waiting time
60 50.83
40 21.67
14.58
20 7.5 5.42 No waiting time
0
Strongly Disagree Neutral Agree Strongly Agree
Disagree

Graph no 4.21: Waiting in line to pay for products is not necessary when using digital payment.

e. Having the option of digital payment improves the services' dependability.

Table no 4.31: Digital payment the increased service dependability

Particulars Number of Respondents Percentage (%)
Strongly Disagree 10 4.17
Disagree 7 2.92
Neutral 61 .0 25.42
Agree 65.0 27.08
Strongly Agree 97.-0 40.42
Total Respondents 240.0 4.17

Enhanced reliability
50 40.42
40
25.42 27.08
30
20
Enhanced reliability
10 4.17 2.92
0
Strongly Disagree Neutral Agree Strongly
Disagree Agree

Graph no 4.22: Electronic payment increases the services' dependability

The table below shows the total ranking for ease of use aspect.
Table no 4.32: Safe and protect are factors that impact digital payments.

Rating less process time User easy & No checking No duration

scale0 fast required time reliability
Enhanced
10 12 .0 8 12 18 10
0.2 17 .0 12 12 13 7
03 50 .0 34 41 35 61
04 73.0 72 45 52 65
05 88 .0 114 130 122 97

40
 Safety and Security
150

100

50

0
less processing Flexible & fast No checking No waiting time Enhanced
time required reliability

1 2 3 4 5

case no 4.23: post and protection are factors that impact digital payments.

Table no 4.33: The mean and standard deviation are used to measure safety and security.

Rating processing time changes & No checking No wait time reliability

scale less fast required Enhanced

Total 928 992 989 967 952

Mean 03.87 04.13 04.12 04.03 03.97
Standard
Deviation 01.14 01.05 01.16 01.24 01.07

Well nature and good interactin is the fourth variable.

a. All transactions are made more transparent by digital payments.

Table no 4.34: Transparency is added to all transactions with digital payments.
Particulars Number of partipate Per (%)
Strongly Disagree 11 4.58
Disagree 14 5.83
Neutral 46 19.17
Agree 71 29.58
Strongly Agree 98 40.83
Total Respondents 240 100

41
 bring transparency
45
40.83
40
35
29.58
30
25
19.17
20 bring transparency
15
10
4.58 5.83
5
0
Strongly Disagree Neutral Agree Strongly
Disagree Agree

Graph no 4.24: Transparency is added to all transactions with digital payments.

A digital transaction reveals all unstated fees.

Table no 4.35: Digital transaction reveals all unstated fees.

Particulars Number of participation Perc (%)

Strongly Disagree 17 7.08
Disagree 19 7.92
Neutral 55 22.92
Agree 72 30
Strongly Agree 77 32.08
Total Respondents 240 100

uncover all charges

40 30 32.08
30 22.92
20
7.08 7.92
10 uncover all charges
0
Strongly Disagree Neutral Agree Strongly
Disagree Agree

Graph no 4.24: An electronic transaction reveals all hidden fees.

The accuracy of digital payment reports surpasses that of traditional banking.

42
 Table no 4.36: Digital The payment report is more precise.

Particulars Number of particiapnts Percentage (%)

Strongly accepted 12 5
Not accepted 16 6.67
Neutral 42 17.5
Agree 77 32.08
Strongly Agree 93 38.75
Total Respondents 240 100

Accurate
50
38.75
40
32.08
30
17.5 Accurate
20
10 5 6.67

0
Strongly Disagree Disagree Neutral Agree Strongly Agree

Graph no 4.26: The accuracy of digital payment reports is higher.

Digital payment payment reduces the potential behavioural biases

Table no 4.37: Digital payment minimizes behavioural biases

Particulars Number of Respondents Percentage (%)
Strongly Not agree 15 6.25
Not agree 24 10
Neutral 47 19.58
Agree 78 32.5
Strongly Agree 76 31.67
Total Respondents 240 100

aviod biases
40
32.5 31.67
30
19.58
20
aviod biases
10
10 6.25

0
Strongly Disagree Disagree Neutral Agree Strongly Agree

Graph no 4.27: Digital payment minimizes behavioural biases

43
e. Digital payments make it simple to track tax and government benefits.
Table no 4.38: Digital payment aids in monitoring government benefits

Particulars Number of participation Perc (%)

Strongly Disagree 22 9.17
Disagree 12 5
Neutral 45 18.75
Agree 71 29.58
Strongly Agree 90 37.5
Total Respondents 240 100

Track Govt benefits

37.5
40
29.58
30
18.75
20
9.17 Track Govt benefits
10 5
0
Strongly Disagree Neutral Agree Strongly
Disagree Agree

Graph no 4.28: Digital payment aids in monitoring government subsidies.

The table below shows the total grade for the convenience aspect.
Table No. 4.39: Transparency as a factor affects digital payments
Rating bring uncover all Track Govt
scale transparency charges Accurate aviod biases benefits
01 11 .0 17.0 12 .0 15.0 22 .0
02 14 .0 19 .0 16 .0 24 .0 12 .0
03 46 .0 55 .0 42 .0 47 .0 45 .0
04 71 .0 72 .0 77 .0 78 .0 71.0
05 98.0 77 .0 93.0 76 .0 90.0

Transparency
200

0
bring transparency uncover all charges Accurate aviod biases Track Govt benefits

1 2 3 4 5

Graph no 4.29: The impact of transparency as a factor on eectronicl payments

Table no 4.40: Transparency as determined by the standard deviation and mean

44
Rating bring charges Track the Govt
scale transparency uncover all Accurate avoid biases benefits , system
Total 951 893 943 896 915
Mean 03.96 03.72 03.93 03.73 03.81
Standard
Deviation 01.11 01.19 01.13 01.18 01.24

Variable 5 – media influence

a. Digital payments are used by the closest group of friends and coworkers.

Table no 4.41: influence of friends and coworkers on payment

Particulars Number of participants Perc(%)
Strongly Disagree 14 5.83
Disagree 9 3.75
Neutral 20 8.33
Agree 61 25.42
Strongly Agree 136 56.67
Total Respondents 240 100

Influenced by Friends and Colleagues

60 56.67

50

40

30 25.42 Influenced by Friends and

Colleagues
20

8.33
10 5.83
3.75

0
Strongly Disagree Neutral Agree Strongly
Disagree Agree

Graph no 4.30: Digital payment Influenced by A Colleagues and Friends

b. A close group of friends suggests using digital payments.

Table no 4.42: Digital payment usage through friend’s advice

Particulars Number of Respondents Percentage (%)
Strongly Disagree 16 6.67

45
 Disagree 14 5.83
Neutral 37 15.42
Allow 66 27.5
Strongly Allow 107 44.58
Total Respondents 240 100

Advise of Friends
50 44.58
40
27.5
30
20 15.42
Advise of Friends
10 6.67 5.83
0
Strongly Disagree Neutral Agree Strongly Agree
Disagree

Graph no 4.31: Digital payment usage through friends advice

b. Supervisor at work advocate the use of Digital payment system

Table no 4.43: Digital payment through advocacy of Supervisor at work

Particulars Number of participants Percentage (%)
Strongly Disagree 16 6.67
Disagree 16 6.67
Neutral 47 19.58
Agree 58 24.17
Strongly Agree 103 42.92
Total Respondents 240 100

Supervisor at work
50 42.92
40
30 24.17
19.58
20
6.67 6.67 Supervisor at work
10
0
Strongly Disagree Neutral Agree Strongly Agree
Disagree

Graph no 4.32: Electranic payment via advocacy of at work Supervisor

c. Does the ecosystem facilitate the usage of electronic payment systems?

Table no 4.44: Digital payment supported by ecosystem
Particulars Number of Respondents Percentage (%)
Strongly Disagree 12 5

46
 Disagree 18 7.5
Neutral 47 19.58
Agree 72 30
Strongly Agree 91 37.92
Total Respondents 240 100

Ecosystem Support
37.92
40 30
30 19.58
20
5 7.5
10 Support of Ecosystem
0
Strongly Disagree Neutral Agree Strongly Agree
Disagree

Graph no 4.33: Digital payment supported by ecosystem

d. Whether society has already embraced digital payments.

Table no 4.45: Electranic payment via society adoption

Particulars Number of participants Perc (%)
Strongly Disagree 17 7.08
Disagree 10 4.17
Neutral 41 17.08
Agree 67 27.92
Strongly Agree 105 43.75
Total Respondents 240 100

Adoption by society
60
43.75
40 27.92
17.08
20 7.08 Adoption by society
4.17
0
Strongly Disagree Neutral Agree Strongly Agree
disagree

Graph no 4.34: Electranic payment via society adoption

The table below shows the overall score for social influence element.
Table no 4.46 :Social influence is a affects digital payments.

47
Rating Influenced by Friends Friends at work Support of society
scale and Colleagues Advise of Supervisor Eco system Adoption by
1 14 .0 16 16 12.0 17 .0
2 9 .0 14 16 18 .0 10 .0
3 20 .0 37 47 47 .0 41 .0
4 61 .0 66 58 72 .0 67 .0
5 136 .0 107 103 91 .0 105.0

Social influence
150
100
50
0
Influenced by Friends and Colleagues
Advise of Friends Supervisor at work
Support of Ecosystem
Adoption by society

1 2 3 4 5

Graph no 4.35One element influencing digital payments is social influence.

.
Table no 4.47: Social influence using the mean and standard deviation is quantified.

Friends and Coworkers' Give Supervisor Ecosystem Society

Influence Friends at work Support Adoption by
Advice

Total 1016 954 936.00 932.0 953

Mean 4.23 3.98 03.9 03.88 03.97
S/D
01.13 01.19 01.22 01.14 01.19

Variable 6 – Innovation affects how people see the brand.

a. The honor and honor of utilizing cutting-edge technology

Table no 4.48: Electronice payment provide Prestige and pride
Particulars Number of participants Perc (%)
Strongly Disagree 20 8.33
Disagree 11 4.58
Neutral 51 21.25
Agree 71 29.58
Strongly Agree 87 36.25
Total Respondents 240 100

48
 Prestige & pride.
40
36.25
35
29.58
30

25
21.25
20
Prestige & pride
15

10 8.33
4.58
5

0
Strongly Disagree Neutral Agree Strongly Agree
Disagree

Graph no 4.36:- Digital payment provides Prestige and pride

b. People consider users to be high-profile.

Table no 4.49: Digital payment users are considered to be high-profile.
Particulars Number of Respondents. Percentage (%)
Strongly Disagree 23 9.58
Disagree 22 9.17
Neutral 52 21.67
Agree 69 28.75
Strongly Agree 74 30.83
Total Respondents 240 100

High Profile
40 30.83
28.75
21.67
20
9.58 9.17 High Profile

0
Strongly Disagree Disagree Neutral Agree Strongly Agree

Graph no 4.37: Digital payment users are viewed as High profile.

a. Status symbol

Table no 4.50: Digital payment provides status symbol

49
 Particulars Number of Respondents Percentage (%)
Strongly Disagree 22 9.17
Disagree 21 8.75
Neutral 61 25.42
Agree 68 28.33
Strongly Agree 68 28.33
Total Respondents 240 100

Status symbol
25.42 28.33 28.33
30
20
9.17 8.75
10 Status symbol
0
Strongly Disagree Neutral Agree Strongly Agree
Disagree

Graph no 4.38: electronic payment gave status symbol

d. More contentment after adjusting to the newest technology

Table no 4.51: Digital payments offer more satisfaction
Particulars Number of Participants Perc (%)

Strongly Disagree 11 4.58

Disagree 12 5
Neutral 44 18.33
Agree 70 29.17
Strongly Agree 103 42.92
Total Respondents 240 100

Greater Satisfaction
42.92
50 29.17
18.33
4.58 5
0 Greater Satisfaction
Strongly Disagree Neutral Agree Strongly Agree
Disagree

Graph no 4.39: Digital payment provides greater satisfaction

b. High level of output

Table no 4.52: Digital payment provides high level of output

Particulars Number of Respondents Percentage (%)
Strongly Disagree 10 4.17
Disagree 10 4.17

50
 Neutral 47 19.58
Agree 75 31.25
Strongly Agree 98 40.83
Total Respondents 240 100

Source: Primary Data

High Output
60 40.83
40 31.25
19.58
20 4.17 4.17 High Output
0
Strongly Disagree Neutral Agree Strongly Agree
Disagree

Graph no 4.40: Digital online payment offers excellent level of the result
The table below shows the overall score for Innovation & Image factor.

Tabl no 4.53: Innovation and image are two factors that impact digital payments.

Rate Prestige & pride Status symbol Greater High Output

scale High Profile Satisfaction
1 20 23 22 11 10.
2 11. 22. 21. 12. 10.
3 51. 52. 61. 44. 47 .
4 71 . 69. 68. 70. 75 .
5 87 . 74. 68. 103. 98 .

Innovation&image
120

100

80

60

40

20

0
Prestige & pride High Prof Status syml Grater HighOutput
Satifaction

1 2 3 4 5

51
Graph no 4.41: Innovation and appearance are two elements that impact digital payments.
Table no 4.54: The mean and standard deviation are used to measure innovation and
image.

Rate scal Prestige & pride. Status Greater

HighProfile symbol. Satisfaction. High Output
Total 914 869 859 962 961
Mean 3.081 3.062 3.058 4.001 4
Standard
Deviation. 01.21 01.27 1.024 1.011 1.007
Convenience-H01 Hypothesis Testing

H0: The usage of state-of-the-art encryption to prevent unwanted intrusion varies little among digital
payment platforms.

.
Ha: The degree of encryption used by different digital payment services to prevent unwanted access
varies greatly.

Table no 4.55: Cross-tabulation and encryption are provided by digital payments.

Female Male
Observedd 6 14.0
Strongly Disagree - Expectedd 10 10 .0
Observedd 7 11 .0
Disagree - Expectedd 9 9 .0
Observedd 35. 32 .0
Neutral - Expectedd 34, 34 .0
Observedd 32, 35 .0
Agree - Expectedd 34. 34 .0
Observedd 40. 28 .0
Strongly Agree - Expectedd 34, 34 .0

The table 4.55 presents the noted and

expected frequenciess for agreement within each category. Notably, all expected frequencies meet the
Chi-square test assumption of having a minimum value of 5, ensuring the validity of the statistical
analysis.

52
Table no 4.56: Chi-Square Test
Value DF p-value
Pearson Chi-Square 6.475 4 0.1664

The table 4.56 shows "The Chi-square test statistic (4, 0.05) yielded a value of 6.475 with a pvalue
greater than 0.05. This result leads us to fail to reject the null hypothesis. In other words, we cannot
statistically prove a notable distinction between genders in their perception of whether electranic
payment systems utilize the latest encryption methods."
Testing case of Hypothesis H02

Null Hypothesis (H0): Regarding how well digital payment systems safeguard consumer
privacy and financial data, there are no appreciable differences.

Alternative Hypothesis (Ha): Regarding how well Payment systems safeguard the privacy of
customers. and financial data, there are notable variations.

Table no 4.57: Digital payments safeguard consumer data through cross-tabulation

Female Male
Observedd 9 18
Strongly Disagree - Expectedd 13.5 13.5
Observedd 8 17
Disagree - Expectedd 13 13.0
Observedd 20 .0 21 .0
Neutral - Expectedd 21 21
Observedd 32 36
Agree - Expectedd 34 34
Observedd 51 28
Strongly Agree - Expectedd 40 40

The table 4.57 presents the observed frequencies (how many respondents answered a certain way)
alongside the expected frequencies (theoretical counts based on no relationship) for agreement on a
particular aspect of digital payment systems. Notably, all expected frequencies meet the Chi-square
test assumption of having a minimum value of 5. This ensures the validity of the statistical analysis
using the Chi-square test.

53
Table no 4.58:
Value DF p-value
Pearson Chi-Square 13.196 4 0.0103

The table 4.58 table presents the results of a Chi-square test analysis (Chi-square statistic [4, 0.05] =
13.196, p-value < 0.05). The p-value being lower than 0.05 suggests we can reject the null hypothesis.
Stated differently, a statistically significant difference exists. (at a significance level of alpha = 0.05)
between genders in their perception of whether electranic payment systems utilize the latest
encryption methods to save customer privacy and financial data
Testing case of H03

Null Hypothesis (H0): Digital payment methods do not differ greatly in their capacity to
lower the likelihood of receiving fake or counterfeit currencies.

Alternative Hypothesis :The capacity of various digital payment mechanisms to reduce the
possibility of receiving counterfeit or phony money varies significantly.

Table no 4.59: Cross-tabulation: Digital payments prevent counterfeit money

Female Male
Observedd 011 .0 16 .0
Strongly Disagree - 1 Expectedd 013.5 13.5
Observedd 013 .0 14
Disagree - 2 Expectedd 14 .0 14 .0
Observedd 25 16 .0
Neutral - 3 Expectedd 21 .00 21
Observedd 31 27
Agree -4 Expectedd 29 29
Observedd 40 47
Strongly Agree - 5 Expectedd 44 44

The above table 4.59 presents the observed frequencies (how many respondents answered a certain
way) alongside the expected frequencies (theoretical counts based on no relationship). It's important to
note that all expected frequencies meet the Chi-square test assumption of having a minimum value of
5. This ensures the validity of the statistical analysis using the Chisquare test.

Table no 4.60
Value DF p-value
Pearson Chi-Square 3.778 4 00.437

The table 4.60 presents the results of a Chi-square test analysis (Chi-square statistic [4, 0.05] = 3.778,
p-value > 0.05). The p-value exceeding 0.05 suggests that we fail to reject the null hypothesis. In
other words, there is There is no gender-based statistically significant difference. .0in their perception
of whether digital online payment systems protect against receiving counterfeit currency. This is
likely because digital payments, by their nature, eliminate the possibility of receiving counterfeit bills.

54 | P a g e
Test case of Hypothesis H04

Null Hypothesis (H0): Digital payment Systems are not all that dissimilar. from one another.
in their effectiveness at reducing the risks associated with handling cash, such as theft or
robbery.

Alternative Hypothesis (Ha): Digital payment systems are not all that dissimilar from one
another. in their effectiveness at reducing the risks associated with handling cash, such as
theft or robbery.

Table no 4.61: Cross-tabulation shows that digital payments prevent cash theft or robbery.

Female Male
Observedd 7 .0 14 .0
Strongly not agree- 1 Expectedd 10.05 10.05
Observedd 6 .0 10.0
Disagree - 2 Expectedd 8 .0 8 .0
Observedd 17 .0 11.0
Neutral - 3 Expectedd 14 .0 14 .0
Observedd 30 .0 27 .0
Accept -4 Expectedd 29 .0 29 .0
Observedd 60 .0 58 .0
Strongly accept - 5 Expectedd 59 .0 59 .0

The table 4.61 illustrates the observed frequencies (how many respondents answered a certain way)
alongside the expected frequencies (theoretical counts based on no relationship) for agreement on a
specific aspect of digital payment systems. Notably, all expected frequencies meet the Chi-square test
assumption of having a minimum value of 5. This ensures the validity of the statistical analysis using
the Chi-square test.

Table no 4.62
Value DF p-value
Pearson Chi-Square 4.0811 4 .0 00.307

The table 4.62 s results of a Chi-square test analysis (Chi-square statistic [4, 0.05] = 4.811, p-value >
0.05). Since the p-value is greater than 0.05, we fail to reject the null hypothesis. In simpler terms,
there isn't a statistically significant gender differences in their perception of whether digital payment
systems protect against receiving counterfeit currency. This is likely because digital payments
inherently eliminate the possible things of receiving fake bills.
case of Hypothesis H05

Null Hypothesis (H0): There is little difference in the perception of electronic transaction
systems as being more advanced than cash..

Alternative Hypothesis (Ha): The way that digital payment systems are perceived as being
more advanced than cash is a big difference.

55
Table no 4.63: More advanced digital payments include cross-tabulation.

Female Male
Observedd 9.0 11 .0
Strongly not accept - 1 Expectedd 10 .0 10 .0
Observedd 7 .0 14 .0
not accept - 2 Expectedd 11 .0 11 .0
Observedd 32.0 27.0.
Neutral - 3 Expectedd 30.0 30.0
Observedd 29 .0 34 .0
accept -4 Expectedd 32.0 32.0
Observedd 43.0 34.0
Strongly accept - 5 Expectedd 39.0 39 .0

The table 4.63 illustrates the observed frequencies (how many respondents answered a certain way)
alongside The anticipated frequencies (theoretical counts based on no relationship) for agreement on a
particular aspect of digital payment systems. It's important to note that all expected frequencies meet
the Chi-square test assumption of having a minimum value of 5.
This ensures the validity of the statistical analysis using the Chi-square test.

Table no 4.64
Value DF p-value
Pearson Chi-Square 4.0405 4 .0 00.353

The table 4.64 shows the results of a Chi-square test analysis (Chi-square statistic [4, 0.05] = 4.405, p-
value > 0.05). The p-value exceeding 0.05 suggests that we fail to reject the null hypothesis. In other
words, there is There is no statistically significant gender difference. in their perception of whether
electranic payment systems treat cash as a less sophisticated payment method.

Security and Safety: Examining Hypothesis H06

Null Hypothesis (H0): The ability of digital payment systems to improve service quality in
terms of processing speed and user comfort is not all that dissimilar from one another.

Alternative Hypothesis (Ha): The potential of electronic transaction systems to improve

service quality in steps of process speed and user comfort varies greatly.

Table no 4.65: Cross-tabulation: Digital payments are more convenient and need less
processing time.

Female Male
Strongly not accpted - 1 Observedd 04 .0 8 .0

56
 Expectedd 6 .0 6 .0
Observedd 5 .0 12.0
Not accpted - 2 Expectedd 8.05 8.05
Observedd 25.0 25 .0
Neutral – 3 Expectedd 25 .0 25 .0
Observedd 43 .0 30 .0
accpted -4 Expectedd 36.05. 36.05
Observedd 43.0 45.0
Strongly accpted0 - 5 Expectedd 44 .0 44 .0

The tables 4.65 illustrates the observation frequencies (the num of replies who answered a certain
way) alongside the anticipated frequencies (theoretical counts based on no relationship) pertaining to
agreement on a specific aspect of digital payment systems. Notably, all expected frequencies meet the
Chi-square test assumption of having a minimum value of 5. This ensures the validity of the statistical
analysis using the Chi-square test.

Table no 4.66
Value DF p-value
Pearson Chi-Square 6.0576 4.0 00.16

The table 4.66 shows results of a Chi-square test analysis (Chi-square statistic [4, 0.05] = 6.576, p-
value > 0.05). The p-value exceeding 0.05 suggests we fail to reject the null hypothesis. In other
words, there is no Men and women differ statistically significantly in their opinions about whether or
not adopting Several digital payment options enhance service quality by reducing processing times
and enhancing user convenience.

Testing of Hypothesis H07

Null Hypothesis (H0): electronic payment systems are similar in that they provide speedier
and more flexible payment choices..

Alternative Hypothesis (Ha): Faster and more flexible payment alternatives are two
significant distinctions between digital payment systems.

Table no 4.67: Cross-tabulation: Digital payments offer speed and flexibility.

Female Male
Observedd 2 .0 6 .0
Strongly not accpted - 1 Expectedd 4 .0 4 .0
Observedd 5 .0 7 .0
not accpted - 2 Expectedd 6 .0 6 .0
Observedd 15 .0 19 .0
Neutral – 3 Expectedd 17 .0 17 .0
accpted -4 Observedd 39 .0 33 .0

57
 Expectedd 36 .0 36 .0
Observedd 59 .0 55 .0
Strongly Agree - 5 Expectedd 57 .0 57.0

The table 4.67 the observed frequencies (how many respondents answered a certain way) alongside
the expected frequencies (theoretical counts based on no relationship) for agreement on a specific
aspect of digital payment systems. It's important to note that all expected frequencies meet the Chi-
square test assumption of having a minimum value of 5. This ensures the validity of the statistical
analysis using the Chi-square test.
Table no 4.68
Value DF p-value
Pearson Chi-Square 3.044 4 .0 00.486

The table 4.68 shows results of a Chi-square test analysis (Chi-square statistic [4, 0.05] = 3.44, p-
value > 0.05). The p-value exceeding 0.05 indicates that we fail to reject the null hypothesis. In
simpler terms, there isn't a statistically notable disparity between the sexes in how they see If online
payment options offer greater flexibility and speed. options.

Examination of Hypothesis H08

Null Hypothesis (H0): Digital payment process should not that different in reducing the need
to manually check or count physical currency.

Alternative Hypothesis (Ha): Digital payment methods vary greatly in reducing the need to
manually check or count physical currency.

Table no 4.69: Digital payments eliminate the need for counting or checking; cross-tabulation is
possible

Female Male
Observedd 4.0 8 .0
Strongly not accpted- 1 Expectedd 6 .0 6 .0
Observedd 6 .0 6 .0
Not accept - 2 Expectedd 6 .0 6 .0
Observedd 16 .0 25 .0
Neutral – 3 Expectedd 21.0 21 .0
Observedd 23.0 22 .0
Acceptt -4 Expectedd 23 .0 23 .0
Observedd 71.0 59 .0
Strongly Acceptance - 5 Expectedd 65 .0 65 .0

The above table 4.69 depicts the (how many respondents answered a certain way) alongside the
anticipated frequencies (theoretical counts based on no relationship) on a specific aspect of digital
payment systems. Notably, all expected frequencies meet the Chi-square test assumption of having a
minimum value of 5. This ensures the validity of the statistical analysis using the Chi-square test.

58
Table no 4.70
Value DF p-value
Pearson Chi-Square 4.4390 4 .0 00.349

The table 4.70 shows results of a Chi-square test analysis (Chi-square statistic [4, 0.05] = 4.439, p-
value > 0.05). Since the p-value is great than 0.05, we fail to reject the null hypothesis. , there isn't A
statistically significant gender disparity in their perception of whether different electronic payment
systems allow users to finalize the type of currency being used before a transaction.
Testing of H09

Null Hypothesis (H0): When it comes to eliminating the need to stand in line to make a
payment for items, digital Payment systems that require waiting in line are not that different.

Alternative Hypothesis (Ha): Digital payment methods vary greatly in that they eliminate
the need to stand in line to pay for things.

Table no 4.71: Waiting in line is avoided with digital payments—cross-tabulation

Female Male
Observedd 7 .0 11.0
Strongly Disagree - 1 Expectedd 9 .0 9 .0
Observedd 4 .0 9 .0
Disagree - 2 Expectedd 7 .0 7.0
Observedd 15.0 20 .0
Neutral – 3 Expectedd 18 .0 18 .0
Observedd 26 .0 26 .0
Agree -4 Expectedd 26 .0 26 .0
Observedd 68.0 54.0
Strongly Agree - 5 Expectedd 61.0 61.0

The above table 4.71 illustrates the observed frequencies (how many respondents answered a certain
way) alongside the anticipated frequencies .0(theoretical counts based on no relationship) regarding
agreement on a specific aspect of digital payment systems. It's important to note that all expected
frequencies meet the Chi-square test assumption of having a minimum value of 5. This ensures the
validity of the statistical analysis using the Chi-square test.

Table no 4.72
Value DF p-value
Pearson Chi-Square 5.0132 4 .0 00.274

59
The table 4.72 shows the results of a Chi-square test analysis (Chi-square statistic [4, 0.05] = 5.132, p-
value > 0.05). The p-value exceeding 0.05 suggests we fail to reject the null hypothesis. In other
words, there is There is no statistically significant gender difference. in their perception of whether
using different digital payment systems reduces the need tay in queue when paying for well.
Testing phase of H10

Null Hypothesis (H0): When used as a payment method, electronic payment systems are
similar in their ability to increase service dependability.

Alternative Hypothesis (Ha): When used as a payment option, electronic payment systems
vary greatly in their potential growing dependability of services.

Table no 4.73: Digital payments improve dependability, according to cross-tabulation.

Female Male
Observedd 1.0 9 .0
Strongly Disagree - 1 Expectedd 5.0 5 .0
Observedd 3 .0 4 .0
Not accept - 2 Expectedd 5 .0 5.0
Observedd 29.0 32.0
Neutral – 3 Expectedd 31 .0 31 .0
Observedd 37 .0 28 .0
Accept-4 Expectedd 33 .0 33 .0
Observedd 50.0 47 .0
Strongly Accept- 5 Expectedd 49.0 49 .0

The above table 4.73 illustrates the observed frequencies (how many respondents answered a certain
way) alongside the anticipated frequencies (theoretical counts based on no relationship) on a specific
aspect of digital payment systems. Notably, all expected frequencies meet the Chi-square test
assumption of having a minimum value of 5. This ensures the validity of the statistical analysis using
the Chi-square function

Table no 4.74
Value DF p-value
Pearson Chi-Square 08.029 4 .0 00.09

The table 4.74 the results of a Chi-square test analysis (Chi-square statistic [4, 0.05] = 8.029, p-value
> 0.05). The p-value exceeding 0.05 suggests we fail to reject the null hypothesis. In other words,
there isn't a gender-specific statistically significant differences in their perception of whether using
different electronic payment process with the option of [insert specific option here] truthfull of these

60
services enhanced

61
Factorial analysis of the variables influencing the electronic payment system
The purpose of the factorial analysis is to identify the key element or principle that drives the adoption of
digital payments.
XL is finished. STAT tool: Factor analyses for data analysis
Pattern of factors: Below are the factors along with their corresponding weights.

Table no 4.75: Pattern of factors with matching weights

Factors attributes F1
Latest Encryption. 00.555
Protect personal ,and Finance data 00.542
Steer clear of counterfeit money. 00.578

avoid theft . 00.575

.more sophisticated with money 00.548

duration saving. 00.597

Easier 00.687
better with little value. 00.568
Minimal charges . 00.561
shorter processing duration. 00.712

Quick and adaptable 00.697

There is no need to check. 00.751

No waiting time. 00.704

Enhanced reliability. 0.0786
bring transparency. 00.49
uncover all charges. 00.644
Accurate. 00.707
aviod biases. 00.680
Track Govt benefits. 00.694
Friends' Influence and Colleagues. 00.650
Givec Friends Advice 00.710
.
Supervisor at work. 00.693
Support of Ecosystem. 00.700
Adoption by society. 00.682
Prestige & pride. 00.685
High Profile. 00.654
state symbol. 00.631
fully Satisfaction. 00.697
Great result 00.703

62
The main factors influencing students' acceptance and use of digital payment systems in Bengaluru include
enhanced reliability, accuracy, reduced processing time, no checking needed, and advice from friends.
.

AXES F1 AND F2 FACTOR

LOADINGS: 48.51 %
0.6 avoid theift
0.5

0.4 avoid fake Protect currencyLatest Ease of use

0.3
0.2 personal and sophisticated in informationEncryptionless processFlexible & fastFinancial Time savingNo
checking more requiredcashtime

F2 (5.00 %) No waiting
0.1 best with small uncover all Enhanced Accuratetime
0 valuereliabilitycharges
Track Govt

charges
-0.1-0.2 Minimal Influenced by Supervise transparencyFriends and Adoptd by aviSupport ofPrestige &
societybenefitsAdvise of bring d biases

Colleagues
-0.3 High OutputEcosystemGreater
workFriendspride
Satisfaction
Status symbolHigh Profile
-00.4
-0.4 -0.3, -0.2 ,-0.1 00
00.1 0.2
0.3 0.4
0.5 0.6
0.7 00.8
F1 (043.51 %)

Diagram num 4.42: Factor loading

63
64
 DATA EXAMINING AND INTERPRETING

Learners are required to present their analysis in the tables, charts, and graphs. Each table
and graph should be numbered and include a clear heading. The tables should be placed at
the top of the page, followed by the corresponding graph below it.Just beneath each graph,
provide an examining and interpreting of the data. It is recommended that each set of table
and graph appear on a separate page. The next table and graph should begin on the
following page.For learners who have prepared a questionnaire, the sequence of tables and
graphs should mirror the order of questions in the questionnaire and follow the same
sequence as presented in this chapter.

65
 CHAPTER-5

FINDINGS, RECOMMENDATIONS AND

CONCLUSION

This section synthesizes the key insights gleaned from the data analysis regarding user preferences and
digital payment systems. The core objective was to investigate how gender and the choice of digital
payment system influence user perceptions in various areas, including security, transaction speed, and
service reliability.

Findings
This analysis investigated user preferences and their relationship to digital payment systems, focusing on
how gender and platform choice influence user perceptions in areas like security, transaction speed, and
service reliability.
Security Perception:

The analysis Demonstrates that gender may have limited influence as a significant factor
influencing user perception of security across different digital payment systems. This is
demonstrated by the absence of statistically significant differences in p-values from Chi-square
tests (refer to Tables 4.59 and 4.60). This implies that users of both genders might prioritize
security features offered by individual platforms rather than gender-specific factors when
evaluating security.

Transaction Speed and Convenience:

The analysis reveals no compelling evidence of a gender-specific statistically significant differences

regarding their experience with transaction speed and convenience offered by various digital payment
systems (refer to Tables 4.65 and .68). This suggests for that both genders likely value aspects like
processing time and ease of use to a similar extent when choosing a digital payment platform.
Service Reliability:

Similar to security perception, gender may not significantly impact user perception of service reliability
across different digital payment systems (refer to Tables 4.71 and 4.72). However, the analysis might
reveal specific digital payment platforms consistently receiving higher reliability ratings from users overall
(refer to Table 4.74, details pending on the specific option analysed). This suggests that certain platforms
might have established a stronger reputation for reliability among users.
Important Considerations:

• It is important to acknowledge that these findings are predicated on the limited information
provided in the tables. A comprehensive analysis would necessitate examining all data and results.

66
 • The generalizability of these findings to broader populations or geographical regions may be
limited. Further research might be necessary to explore these factors in diverse contexts.

By conducting a careful examination of every piece of information, a deeper comprehension of consumer

preferences, and their involvement with digital payments platforms can be established.

Suggestions
This section presents actionable recommendations informed by the user preference analysis, with a focus
on mitigating the potential Gender-related influence and platform choice on user experience within digital
payment systems.
Enhancing Security Perception:

• Prioritize Transparency: Implement measures to clearly communicate the security protocols

employed by each digital payment platform. This may involve highlighting robust encryption
standards, advanced fraud detection systems, and multi-factor authentication processes.

• Invest in User Education: Develop comprehensive educational resources and targeted campaigns
that address common security concerns. Educate users on how to leverage the security features
offered by different digital payment systems to maximize their protection.

Optimizing User Interface and Usability:

• Embrace Gender-Neutral Design: While the study suggests gender may not be a significant
factor, prioritize user-centered design principles that cater to a diverse user base. This ensures an
intuitive and seamless experience for all users, regardless of gender.

• Continuous Platform Optimization: Establish a process for ongoing evaluation and optimization
of the user interface across each digital payment platform. This could involve streamlining
functionalities, enhancing navigation, and ensuring compatibility with a broad range of devices.

Building Trust and Fostering Reliability:

• Proactive Performance Monitoring: Implement proactive measures to monitor and improve

transaction processing times. This ensures a consistently fast and smooth user experience for
everyone users platforms.

• Transparency During Service Disruptions: In the event of service outages or technical

difficulties, prioritize clear and prompt communication with users. Provide users with realistic
timelines for resolution and explore offering alternative payment methods if feasible.

• Cultivate a Culture of User Feedback: Actively solicit user feedback through surveys and other
mechanisms. Address user concerns promptly to demonstrate responsiveness and build trust in the
reliability of the digital payment platforms.

67
By implementing these recommendations, digital payment platforms can strive To improve user
interaction across different aspects. A focus on security awareness, user-friendly interfaces, and building
trust through reliability can significantly contribute to wider adoption and increased user satisfaction
within the digital payment landscape.

Implication

This study sheds light on on the evolving landscape of user preferences within digital payment systems.
By investigating the interplay between gender, platform choice, and user perceptions, the research offers
valuable insights that can be applied to:
1. User-Centered Design:

The research findings are suggest that security, transaction speed, and service reliability remain paramount
user concerns across genders. This emphasizes the need for digital payment platforms to prioritize user-
cantered design principles. This translates to:
• Developing intuitive and user-friendly interfaces that cater to a diverse user base, regardless of
gender or technical expertise.

• Prioritizing transparency by clearly communicating security features, transaction processing

times, and potential fees associated with different digital payment options.

2. Fostering User Trust and Confidence:

The study highlights the importance of building trust and user confidence in digital payment systems.
Here's how this can be achieved:
• Implementing robust security protocols and educating users about available security measures
can help alleviate concerns and encourage wider adoption.

• Ensuring reliable and consistent service delivery is crucial for maintaining user trust. This
includes minimizing downtime and offering clear communication during service disruptions.

3. Addressing Potential Gender Bias:

While the study suggests Gender does not appear to be a major factor in platform selection, it doesn't
negate the possibility of subtle gender bias within the design or functionalities of certain digital payment
systems. Here are some considerations:
• Conducting gender-specific usability testing during the development phase of digital payment
platforms can help identify and eliminate any unintentional biases that might hinder user
experience for a particular gender group.

• Promoting financial literacy initiatives targeted towards all genders can empower users to make
informed choices about digital payment options that best suit their needs.

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Conclusion
This study investigated the influence of gender and platform choice on user preferences within digital
payment systems. The analysis focused on user perceptions in key areas like security, transaction speed,
and service reliability.
The findings suggest that user experience may not be significantly impacted by gender across platforms.
This emphasizes the importance of prioritizing user-cantered design principles that cater to a diverse user
base, regardless of gender. Building trust remains crucial, and achieving this requires a focus on robust
security protocols, transparent communication, and reliable service delivery. While gender bias wasn't a
major factor in this study, further research considering cultural contexts, emerging technologies, and
marketing strategies can provided a more comprehensive picture.
Ultimately, this research underscores the requirement for continuous innovation and user-centric
development within the digital payment domain. By prioritizing security, fostering user trust, and
embracing inclusivity in design, digital payment platforms can empower users, enhance user experience,
and contribute to a more efficient and financially inclusive global economy.

69
 BIBLIOGRAPHY/ REFERENCES
(APA style; below is only a sample)

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Indore City’ (2020) published by the researchers Singodiya, Kush

2. In the paper ‘Adoption and Usage of Mobile Payment Systems by Consumers and Merchants’
(2021) published by the researcher Sonal

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intentions about mobile payment apps (2020) published by researcher Ajmera, Hiteshi

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published by the Researcher Pradheep Balaji.R

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services’ published by the researcher Raju, Gosala

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published by the Researcher Shailza

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Gupta, D in 2017

9. In the paper ‘Determinants of bank margins in a dual banking system’ published by the
Researcher SP Lee and Isa in 2017

10. In the paper ‘Hedonic motivation's function as a mediator in the interaction between
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Zareravasan in 2017

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 12. In the paper ‘Analysis of the use of plastic money’ by the researcher Nirmala, R & Sonu in
2017

13. In the paper ‘Undergraduates attitude towards use of internet banking: with reference to
sliit’ by the researcher Randiwela, P, Rajapakse, S in 2018

14. In the paper ‘Factors influencing adoption of mobile banking by Jordanian bank customers ’
by the Researcher Alalwan, A. A., Dwivedi, Y. K., & Rana, N. P. in 2017

15. In the paper ‘The factors influencing adoption of mobile payment apps extending utaut2 with
perceived risk’ in 2020 by the Researcher Monilakshmane, A

16. In the paper ‘Factors affecting E Banking adoption by the Customers A Study with Reference
to Chennai City’ in 2019 by the Researcher Venkatesan K

17. In the paper ‘Factors Affecting the Adoption of Online Banking in Poland’ in 2016 by the
researcher Szopiński, Tomasz Stanisław

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References and links

Secondary data - https://www.silamoney.com/ach/13-best-use-cases-for-

digitalwallets#:~:text=Here%20are%20some%20really%20good%20use%20cases%20for,Offering
%20Rewards%2C%20Coupons%2C%20And%20Discounts%20...%20More%20items
https://www.nets.eu/solutions/mobileservices/Documents/White%20Label%20Wallet%20 -
%20for%20BLE-QR%20payments%20-%20for%20website%2023Feb2018.pdf

https://www.hst.com.br/white-label-digital-wallets-hst/ https://www.goodreturns.in/payment-apps-and-e-

wallets.html https://pib.gov.in/PressReleaseIframePage.aspx?PRID=1897272

Annexure
RBI, NPCI & Banks
Ministry of Information Broadcasting, Government of India

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