An Analytical Study on Customer Perception Towards Cashless Transactions

Abstract

This study explores consumer perceptions towards cashless transactions, particularly in the state of Haryana, following the Indian government’s demonetization initiative. While digital payments offer numerous benefits such as convenience, speed, and security, they also present challenges, especially for consumers unfamiliar with digital technologies. The research aims to identify the benefits and difficulties faced by individuals when using various cashless payment methods. Data was collected from 176 respondents across 12 districts in Haryana, providing insights into their preferences, challenges, and concerns regarding digital payments. The findings suggest that mobile wallets like Paytm and Google Pay are widely used, with many users appreciating the simplicity and efficiency of cashless transactions. However, issues such as slow internet, security concerns, and inadequate digital literacy remain barriers to broader adoption. The study underscores the need for improved infrastructure, digital literacy programs, and enhanced security measures to promote a more inclusive cashless economy.