Perception of rural youth towards digital payment-A study in Hebri

Abstract

After demonetization initiatives, most of the people in India started electronic payments for their transactions. Digital payment methods are often easy to make, more convenient and provide customers the flexibility to make payments from anywhere and at any time. These are a good alternative to traditional methods of payment and speed up transaction cycles. After demonetization in 2016, people slowly started embracing digital payments. Even small merchants and shop keepers started accepting payments through the digital mode. Slowly India is moving from cash to cashless economy. But still it has not been accepted by all. The reasons may be lack of trust, lack of technical knowledge, fear of traceability of transaction, habit etc. In rural areas, online financial transactions, e-commerce activities as well as digital payments still lag considerably, despite demonetization and the drive to promote digital payments over the last two years. The youth themselves not known much about this programme. The development of any country mainly depend on the youth power. Therefore, it is essential that the youth, the future generation, must know digital payment methods to make this programme successful. Further, rural India lags behind urban area in digital payment. In this paper “Perception Of Rural Youth Towards Digital Payment-A Study In Hebri”, a special attention has been given to rural youth and study has been made on their perception level towards digital payment. The youth of Hebri Taluk in Udupi district has been taken for study purpose. Statement of the Problem:In these days Digital Payments are an important part of our life. The Government of India has been taking several measures to promote and encourage digital payments in the country. However, the success of digital India, mainly depend on the involvement of the people, especially youth. Because, the youth in the present will lead the future of India. Their power is an asset of all the existing age groups in the society. India is relatively young as a nation with around 28 million youth population being added every year. More than 50 percent of its population is below the age of 25 and more than 65 percent are aged below 35. The people in rural areas are still not adjusted to digital payment. In rural areas, online financial transactions, e-commerce activities as well as digital payments still lag considerably, despite demonetization and the drive to promote digital payments over the last two years. The youth themselves not known much about this programme. Therefore, it is essential to know the perception of rural youth towards digital payment.