Understanding Rural Consumers' Perception and Usage of Modern Payment Platforms
Keywords:
Digital payments, rural India, financial inclusion, UPI adoption, Jan Dhan Yojana, economic growth, consumer perception, Digital IndiaAbstract
This study investigates rural consumers' perception and usage patterns of modern digital payment platforms in India, analyzing the transformative impact of financial technology on economic development in underserved rural communities. Through comprehensive analysis of empirical studies and primary research data, this research examines the multifaceted relationship between digital payment adoption, financial inclusion, and economic growth in rural India. The findings reveal significant correlations between digital payment infrastructure deployment under initiatives like Digital India and Jan Dhan Yojana, consumer behavior patterns, and socioeconomic development indicators in rural areas. Rural Indian consumers demonstrate increasing receptivity to digital payment systems, influenced by factors including digital literacy programs, Aadhaar-based authentication, infrastructure availability through initiatives like BharatNet, and perceived utility of platforms like UPI, Paytm, and PhonePe. The study contributes to understanding India's unique digital divide challenges and provides policy recommendations for enhancing financial inclusion in rural Bharat.
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