Demographic Segmentation’s impact on Consumer Perceptions towards Digital Payments System Post Demonetization

Abstract

Digital India has gained importance as the government is promoting cashless payments. During the phase of demonetization there was turmoil in the Indian economy.  Cash transaction become limited as new currency notes were introduced and the old ones were scrapped.  The option left with the general public was going for digital payments.  This paper is and attempts to analyse the consumer perception as to how the demographic parameters have an effect on the various attributes when it comes to digital payment system. There were prevalent digital system payment and how did it cater to the public. Primary data was collected form 182 respondents from Nagpur city and nearby areas of Nagpur city. Hypothesis was framed and these hypotheses were tested using ANOVA and to test the data reliability Cronbach’s Alpha was used.  Using ANOVA for testing   it became very clear that there is asubstantialvariance seen with respect to the demographic factors except in case of gender no substantial variance is seen by the respondents towards digital payment system.