Impact of Cashless Payment Mode Among University Students

International Journal of Current Microbiology and Applied Sciences

Isara solutions, 2023

After demonetization initiatives, most of the people in India started electronic payments for their transactions. Everyone from the small merchant to neighboring vegetable vendor is embracing digital payment solutions. Slowly India is moving from cash to cashless economy. A cashless economy is one in which all the transactions are done using cards or digital means. The circulation of physical currency is minimal in cashless economy. The benefits of Cashless economy are many. The increased use of credit cards will definitely reduce the amount of cash that people have to carry which reduces the risk and the cost associated with that. In this paper an attempt is made to examine the Public perception towards cashless transactions in and the attempt is also made to identify the challenges faced by them during their transactions.

F1000Research

E-wallet is an application that enable users to download payment cards using a mobile device. It is a new trend for consumers to use an e-wallet application to replace the traditional payment method. With E-wallet, a user does not need to bring cash or a credit card along with them. It enables users to make purchases in a more convenient way. Hence, this research analyses the factors that affect university students’ intention to use e-wallet. The Technology Acceptance Model (TAM) serves as the theory underpinning this research A total of 140 respondents from a Malaysian private institution participated in this study. Convenience sampling was used to select samples, and respondents completed the questionnaire using a Google form and a paper and pencil approach. The questionnaire was created using a nominal scale and a five-point Likert scale. Descriptive analysis, reliability analysis, and multiple regression analyses were utilised to analyse the data in this study. Students, supervi...

PRAGATI : Journal of Indian Economy, 2020

YOJANA seeks to provide a vibrant platform for discussion on problems of social and economic development of the country through in-depth analysis of these issues in the wider context of government policies. Although published by the Ministry of Information and Broadcasting, Yojana is not restricted to expressing the official point of view.

International Journal of Current Microbiology and Applied Sciences, 2019

Trans stellar Journals, 2021

For a long time, the world has been moving toward all things digital. However, the year 2020 highlighted the urgent need to embrace new technologies as soon as possible. With the implementation of the lockdown, this adaptation happened almost instantly, particularly in India for digital payments. The Indian government has been promoting and propagating online payments sharply, beginning with demonetization back in 2016. 'Digital India' has been the spirit of the many economic and financial decisions that pushed Indians to modify online payments. In a country like India, where disparities are sometimes different, ensuring financial equality becomes a problem of prime importance. This study analyses the usage of Digital Payment Applications and the challenges faced by users. The findings show that1/3 of the respondents in the age group 25-35 have been personally impacted by fraud, data theft, etc. There is a need to create awareness about the precautions to be taken so that the users are not victimized due to fraudulent activities.

Humphrey Muteru, H; Gatobu, F. H & Munene, H. N. (2025). Digital Payment Convenience and Student Personal Financial Management: The Tap- To- Pay Trap. Journal of African Interdisciplinary Studies, 9(6), 52 - 60., 2025

This book chapter was driven by the need to undertake an extensive study on digital payment convenience and student personal financial management, with special focus on the Tap-o-Pay Trap. The contention of this study is that the shift towards a cashless economy has transformed financial transactions globally, influencing spending habits among university students. This study explores the impact of digital payments on the economic behavior of students at Meru University of Science and Technology. The research examines how the ease of cashless transactions affects budgeting, impulse spending, peer-influenced expenditures, and subscription-based spending. Additionally, it assesses the advantages and disadvantages of a cashless campus and suggests financial management strategies. The findings indicate that while digital payments offer convenience, they also pose challenges in financial discipline, necessitating awareness and budgeting measures for responsible spending.

2021

Digital transactions are taking over most of the transactions in the world and India is no exception. Various studies have proved that efficient payment system will speed up the liquidity flow of an economy. In the era of digitisation, transactions using technology is the best way of being agile and giving better service to consumers. The study is about understanding consumers' perceptions with respect to online and digital payments and safety of these transactions in this world of connected technologies. It is important for marketers to know the perception of consumers towards cashless methods of transactions and this study helps in this. The study is qualitative in nature and uses literature reviews to analyse the concept of digital transactions. The reviews delve insights into the various challenges and advantages of using digital transactions. The findings reveal that digital transactions are accepted in India and usage is increasing year by year. The study finds the advanta...

Journal of Banking and Financial Technology, 2021

Propelled by recent policy initiatives and technological developments, India's digital payment system is a promising success story in the making. At the same time, the data also points towards an increasing usage of cash. While aggregate country-level data can indicate overall preferences of citizens, we use a novel online survey-based dataset to understand how factors such as 'perception' and 'trust' in digital payments, and experience with online frauds, affect the payment behaviour of consumers. While demographic factors like age, gender and income are relevant factors which determine this choice, we find compelling evidence that a person's usage of digital payment methods is influenced by her perception of these instruments, as well as her trust in the overall payments framework and banking system in general. We find that the degree to which past-experience with online fraud deters usage of digital payments varies with the purpose of the transaction.

Zenodo (CERN European Organization for Nuclear Research), 2019

Digital payment is a future of cashless economy and most of Indians are using Digital payment for their transaction but after demonetization it feels like a compulsory for all but not enforceable by law of India. Suddenly the change in economy, this is not easy to covert from cash to cashless due to unavailability of infrastructure facility for this cashless platform. General people discuss some issues and benefits with each and on other side merchandisers were very embarrassingdue to new way of currency transaction. The regular practises of physical transaction of money aregoing to be changed and all transaction will be in records is good for economy but merchandiser having different perceptions related to different aspects. In this paper an attempt is made to examine the merchandisers of Meerut (Uttar Pradesh) perception towards cashless transaction and conclusion are made based on the finding. The Research objectives are 1. To Investigatethe Reason of conversion from cash to Cashless transactions 2. To analyse the challenges and prospects for Cashless transactions in district Meerut of Uttar Pradesh in India.