Digital Payments Amongst Rural Population: A Study In Chennai

Abstract

Customers in the modern-day value convenience and creativity in financial dealings even more than security in financial dealings. The emergence of new possibilities in information and communication technology brought about by the advent of digitalization has had a profound impact on the entire payment system. There has been a quick shift from the traditional payment system to the more convenient digital payment system. The Indian government has taken several initiatives to promote and encourage the use of electronic payment methods throughout the country. The goal is to be as inclusive as possible in reaching as many individuals as possible. Most Americans who lack basic literacy and computer skills are concentrated in the country's rural areas. The tides are turning, and residents of rural places are becoming more aware of the benefits of going digital. This research aims to better understand how people in rural areas of Tamil Nadu's Chennai feel about using digital payment methods. One hundred samples were taken at random from each of the twelve blocks in the district. Since more than half of the sample respondents only have a high school education, the interview schedule being used to collect data has revealed that rural residents view digital payments as obviously beneficial but also quite complex and involving risk in their functioning.