Drivers for Upliftment of Cashless Buzz across its Users

Abstract

Cashless is the new buzz in Indian economy post demonetisation announced in              November 2016. The availability and ease of using mobile wallets has further added to the charm of digital payments. Post 2000 era has been a revolutionary period for the conception of information technology (IT) and IT enabled services. Digitized payments may said to be deeply affected by internet technology and smart phones. The psychological issues related with theirunderstanding, safety, usage to name a few may develop hiccups for its users. The adoption and popularity of e-payments may vary across different regions and several perceived factors by the users may act as a motivating force for people to use it. The respondents reactions and usage traits have been studied for Delhi-NCR region while making use of digital and cashless transactions. It has been found with multiple regression that perceived usage, benefits, knowledge, understanding and safety together significantly explain the adoption and popularity of cashless system. Further, correlation and ANOVA statistics indicate that there is a significant difference across various occupation groups and adoption of cashless payments. The difference in age and gender has not been found to be significant in influencing peopleto use cashless mechanism.