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Consumer Perception on Digital Payments in India

Consumer Attitudes towards Digital Payments in India

Due to recent regulatory measures and technology advancements, India’s digital payment system is well on its way to becoming a successful success story in the making advancements. Public opinion reflects consumer perception on digital payments in India, with electronic payments gaining prominence.

On the other side, the figures indicate that people are using cash more often. While data collected at the national level may give us an idea of individuals’ preferences in general, we’re using a new online survey dataset to figure out how things like consumers’ payment habits are influenced by things like their “perception” and “trust” in digital payments, as well as their own personal experience with online scams.

Although age, gender, and money influence this judgment, we discover solid evidence for the opposing side. Any proof showing a person’s image of digital payment systems affects their use and trust in the payment method and banking system would be persuasive.

Digital payment refers to online payment methods. The payer and payee send and receive money digitally. This is called electronic payment. Digital payment systems are employed more when clients like them. Users value digital payments and understand how they have affected financial services and new technologies as part of their lives.

Keywords: Online Payments; Electronic Wallets, Digital payments, transaction speed, security, compatibility, convenience, public opinion on digital payments.


Digital enterprises have enormous development potential. Indian digital wallet and payment companies eagerly took a hands-on approach to market share growth. Customers in India are growing more amenable to digital payment alternatives after currency demonetization.

Public opinion reflects consumer perception on digital payments in India, with electronic payments gaining prominence. Due to the devaluation, digital payment options are growing at an unprecedented rate.

India offers many digital payment options. These are:

Online or mobile wallets: Smartphone applications access online or mobile wallets. Recharging the app using debit, credit, or net banking stores money.

Prepaid credit cards are bank account-loaded credit cards. It’s like a gift card since customers may use the card’s funds instead of bank credit. Up to a manufacturer-set limit, can be recharged like a phone.

Debit/RuPay cards: Credit cards linked to checking or savings accounts. Used for online shopping, ATMs, online wallets, and micro-ATMs. Debit cards outnumber credit cards in India.

AEPS: The 12-digit Aadhaar number unlocks bank-to-bank transactions at point-of-sale terminals. AEPS offers balance enquiries, cash withdrawals, deposits, and Aadhaar card transfers.
Unstructured Supplementary Service Data-based mobile banking is “USSD.” It links to the merchant’s bank account and accepts up to Rs. 5,000 per day per customer. GSM phones can make payments.

UPI: The United Payments Interface would allow any partner bank to power multiple bank accounts with a single mobile application platform. Combines many banking operations to ensure merchant payments and cash flow. Facilitates peer-to-peer money transactions.


  • To get an understanding of how consumers feel about using digital payment methods.
  • To determine the challenges that clients have while making digital payments.
  • To do research on the history of the Digital Payment System in India
  • To investigate the influence that aspects of population composition have on the adoption of digital payment systems
  • To determine the extent of customers’ use of electronic payment methods such as mobile wallets and plastic money.
  • To determine the extent to which customers are aware of the capabilities offered by mobile wallets and other forms of electronic currency (such as plastic money).
  • To determine the elements that are contributing to the expansion and usage of mobile wallets and other forms of plastic money.
  • To investigate consumers perception about the use of mobile wallets and plastic money services and to report our findings.


The researcher explored the potentially beneficial effects that the digitization of the payment system would have, and the study also focused on analysing the adoption level of different digital payment methods by consumers.

The customer’s point of view about digital payments was studied in this research.  According to the findings of the survey, the vast majority of respondents were familiar with digital payment systems. Furthermore, the respondents expressed the view that using digital payment systems had become an integral part of their lives since it allowed them to avoid spending time waiting in line at the bank. The research also found that the demonetization of some currencies had a significant effect on the use of digital payment methods due to safety concerns and challenges with distance.

An Examination of the Primary and Secondary Credit Card Holdings and Spending Habits” The purpose of this research is to investigate the reasons why most people who have more than one credit card have a main card (i.e. a card that is used more often than others) and subsidiary cards (i.e. cards that are used less frequently or only in an emergency), as well as the spending pattern that is connected with main and subsidiary cards.

In order to gather information for this qualitative research, open-ended questions were included in the survey that was administered to participants.  public opinion reflects consumer perception on digital payments in India, with electronic payments gaining prominence.



The rise of digital technology has had an impact on every facet of human existence. A great number of people’s lives have been made easier by the conveniences of modern technology at the blink of an eye, such as mobile phones that can connect to the internet. A little knob or button. In the end, this raises the standards that consumers have for themselves in terms of their Perception, expectations and aspirations. In light of the state of the economy as it is right now, cashless transactions are rapidly approaching complete dominance. The cash transactions have been replaced by electronic ones.

However, there are some drawbacks to consider. In the case of a crisis, it is very necessary to take measures to protect your privacy and safety; yet, in the end, what really matters is how customers respond. Banks and other types of organizations both utilize and manage the data vital to their operations. As a result, the research seeks to get an understanding of the Consumer Perception on digital payments.

The only viable option is to conduct business dealings online. According to an analysis of the relevant literature, the vast majority of customers think that using their credit or debit card enables them to carry out transactions in a digital format. The task of ensuring the safety of the project has proven to be the most challenging aspect of the whole endeavour. is an obstacle to its efficient use in the world. That’s not everything, by any means.

Automation approach:

According to the report, customers are aware of the safety measures used for cashless transactions. It is of the utmost importance to facilitate transactions given that doing so makes the system more user-friendly and speeds up the process. The usage of online banking has also increased significantly in recent years. to be in charge of a business.  As a result of developments in technology, automation is on the approach of completing its takeover of the globe.


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Project Name : Consumer Perception on Digital Payments in India
Project Category : MBA FINANCE
Pages Available : 55-65/pages
Project PPT cost : Rs 500/ $10
Project Synopsis : Rs 500/ $10
Project Cost : Rs 1750/$ 30
Delivery Time : 24 Hours
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