Key Drivers Shaping Indian Youth's Digital Payment Adoption: Unveiling Behavioral Intent in the Cashless Era

Title

Key Drivers Shaping Indian Youth's Digital Payment Adoption: Unveiling Behavioral Intent in the Cashless Era

Author

1. ANANTHAN R, Student, University of Kerala, Thiruvananthapuram, India
2. Abhilash Janardhanan, Professor, University of Kerala, Thiruvananthapuram, India

Abstract

In recent years, digital payment methods have seen a tremendous spike in acceptance in India, with millennials leading this financial revolution. Within the framework of a cashless economy, this study investigates the behavioural purpose that drives the use of digital payment systems among young Indians. The research examines key elements influencing young people's views towards digital payments, including technical developments, financial literacy, government programs, peer pressure, and perceived safety. We use a mixed-method approach, analysing quantitative and qualitative data to understand better the changes in behaviour and how they may affect the Indian financial ecosystem in the future.

Keywords

Conclusion

The younger generation spearheads India's shift to a cashless economy by embracing digital payment solutions. This study cites technological ease, peer pressure, financial knowledge, government programs, and security concerns as the most critical factors shaping the behavioural intent of young Indians. To ensure the continuous expansion of digital payments in India, removing challenges relating to trust and financial education as the country pushes towards digitalisation is vital.

Author Contrubution

The author handled all aspects of the study, including its design, data collection, analysis, and manuscript preparation.

Funding

No grants from public, commercial, or non-profit funding agencies supported the research, authorship, or publication of this article.

Conflict of Interest

There are no conflicts of interest to report from any of the authors.

Data Sharing Statement

This research does not include data sharing.

Software And Tools Use

The research does not involve the use of specific software or tools.

Acknowledgements

I am grateful for the expertise and help provided by all who contributed to this study and manuscript, and for the comments from anonymous reviewers.