A Study on Perception and Behavior of Consumers Towards Digital Financial Transactions

Year : 2025 | Volume : 12 | Issue : 02 | Page : 60 69
    By

    Shikha Dua,

  • Bhoomi Mittal,

  1. Assistant Professor, Department of Management, Rukmini Devi Institute of Advanced Studies, Rohini, New Delhi, India
  2. Student, Department of Management, Rukmini Devi Institute of Advanced Studies, Rohini, New Delhi, India

Abstract

The rapid evolution of digital technology, coupled with increased smartphone usage and proactive governmental policies, has revolutionized the landscape of financial transactions. This study examines consumer perceptions and behavioral patterns related to digital payment systems, with a specific focus on usage trends, preferences, and concerns. Utilizing primary data collected through a structured survey of 110 respondents in North Delhi, the research reveals that digital transactions are predominantly perceived as convenient, swift, and efficient alternatives to conventional cash-based methods. The findings indicate that Unified Payments Interface (UPI) is the most preferred mode of transaction, followed by mobile banking, primarily due to their intuitive interfaces and real-time processing capabilities. Nevertheless, several concerns persist among users, notably those related to data security, privacy, and occasional technical disruptions. A substantial proportion of respondents expressed anxiety over potential transaction failures and data breaches. Furthermore, while younger users exhibit a higher propensity to adopt emerging payment technologies, such as biometric and voice-based authentication, barriers, including digital literacy deficits and distrust in system reliability, remain prevalent, particularly among older and less tech-savvy demographics. The shift highlighted the urgent need for robust and scalable digital infrastructure capable of supporting increased transaction volumes, ensuring security, and maintaining seamless user experiences during times of crisis. These insights offer valuable implications for policymakers, financial institutions, and technology developers aiming to foster inclusive and secure digital financial ecosystems.

Keywords: Digital payments, consumer perception, financial technology, security concerns, digitalization

[This article belongs to E-Commerce for Future & Trends ]

How to cite this article:
Shikha Dua, Bhoomi Mittal. A Study on Perception and Behavior of Consumers Towards Digital Financial Transactions. E-Commerce for Future & Trends. 2025; 12(02):60-69.
How to cite this URL:
Shikha Dua, Bhoomi Mittal. A Study on Perception and Behavior of Consumers Towards Digital Financial Transactions. E-Commerce for Future & Trends. 2025; 12(02):60-69. Available from: https://journals.stmjournals.com/ecft/article=2025/view=215801


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Regular Issue Subscription Review Article
Volume 12
Issue 02
Received 13/06/2025
Accepted 03/07/2025
Published 04/07/2025
Publication Time 21 Days
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