Adoption of Digital Payment Methods in Rural Areas of Ramanathapuram District

Abstract

Cashless Economy is the main mantra in digital reforms that have set an impact recently and changed the consumer's payment method completely. Digital Payments an easy means of transacting money with no physical exchange of money or hard cash but with virtual mode. There are many methods adopted by which an individual or corporate can make payments without using cash, for example, Debit or Credit card, Internet Banking, Mobile Banking, Mobile Wallets, UPI, etc., With the help and support of these payment methods, people can make ease of transactions with a single click. Though there are many advantages in using digital payment methods people have to face many challenges and difficulties also, so to make it more successful the Government has to ensure the possibility of using the Internet, connectivity, and technical support, especially in rural areas. The focus of this study mainly depicts the perspective of consumers towards digital payments in rural areas, especially in the Ramanathapuram district, and also studies the preferable mode and factors influencing digital payments.