CHAPTER 1 : INTRODUCTION

INTRODUCTION

IndianPrimeMinister Sh. Narendra Modi spearheaded a historic decision on

November 8, 2016, by announcing that the high-denomination notes (INR

500 and INR 1,000), then in circulation would cease to be a legal tender

going forward(Kumar, 2016). The government master minded this resolution

to unearth the rampant usage of black money, curtail the widespread funding

of terror activities and destroy counterfeit currency out of the economy and

convert it into the licit, banked and taxable part of the economy (Nasscom

2016). Electronic monetary transactions and mobile wallets have been at

the centre stage since the government incepted the idea of demonetization.

Digitalizing the transactions was the next major intent by the government

that aimed at boosting transparency, fighting graft , making services faster,

cheaper and more accessible to common masses and businesses along

with making them formal and accountable (Nasscom, 2016).

PAYMENT SYSTEM

A payment system is a method or process used to transfer money from one

party to another. It typically involves a series of steps including initiation,
authorization, clearing, and settlement. Payment systems can vary from
traditional methods like cash and checks to modern electronic methods such
as credit cards, mobile payments, and cryptocurrencies. They play a crucial
role in facilitating transactions between individuals, businesses, and
governments, contributing to the functioning of the economy.

CASHLESS PAYMENT SYSTEM

A cashless transaction is an automated or online exchange between two

individuals, businesses, or organisations. A digital transaction is a cashless

transaction in which no paper is used to carry out the transaction. Digital

transactions include the purchase of goods through e-commerce websites, the

signing of business contracts online, and the purchase of cinema tickets

through a smartphone app. These operations are precise, expedient,

convenient, and unquestionably simpler.

METHODS OF CASHLESS PAYMENT

Consumers choices and technical improvements are propelling the cashless

economy ahead all over the world. These dynamics are causing an increasing

number of commercial transactions to be handled without cash,across all type

of ventures.

Payments are growing at rapid pace, with new provider platforms, and the

payment technologies appearing practically daily. When customer behaviour

changes the omni commerce line or via a mobile device will be used. This
transformation necessitates shops to adapt to these payments in a timely,

secure and straightforward manner.

Credit cards, debit cards, prepaid bank cards, mobile/ E wallets, ATM money

transfer, internet banking transfers, AADHAR Enabled payment system, UPI ,

cheaques and E cash coupons are some of the cashless payment method

available in india. Aside from these payment methods, many private

companies in a financial industry are establishing their own payment space to

facilitate transactions

STATEMENT OF THE PROBLEM

The indian Government is being very supportive in encouraging
people to use less cash and more technology since the
demonetization move. Irrespective of this there seem to be very poor
growth level after the ignition stage India is driven by cash with fewer
than 15% of all its payment happen electronically the presence of
cash in the economy is very much dominant when compared to any
other payment modes which contribute to a lot of cash related
crimes. Cash remain a deeply rooted habit among the Indians. Even
through debit card and credit cards were in use before the
demonetization move cash still prevailed in the market as king of
payment. If given a chance cash was the first sorted option to settle
any payment. It is estimated that India’s digital payment transaction
value will be CAGR of 24.2% by 2025, according to gopaKumar
(2021). There is a long way for our country to attain the full state of
cashless in term of its adoption the main reason for stakeholders
mainly the consumer being loyal to mode of cash is to be studied to
deal with the critical issue of usage of money. According to adole
(2019), Trust innovative solution financial illiteracy and price value
of purchase are few of the important factor in achieving financial
inclusion aim for India. A detailed study is necessary to understand
why consumer are driven by cash usage and what stop them for
adopting cashless payment avenue for their payment continuously.
Despite having various payment venues in the payment industry the
total transaction resulting from cashless payment remain low if this
problem are dealt with the firm consumer point of view this will result
in understanding the reason which hold back consumers from not
using cashless payments for their payments in requirement

NEED FOR STUDY

The Reserve Bank of India, Indian banks, the Indian government,
along with other authorities, have undertaken various leads in the
past to reduce cash related robbery, corruption, and additional cash
associated issues. The multiple stakeholders of the payments
industry lack awareness of new innovative payment system.
Awareness of different other payment system and their application
apart from cash mode remains low when compared to their
knowledge worldwide. The demand side mainly comprises of
consumers,the primary users of cashless payment system. The
reality of this system and their adoption by the consumer is to be
checked. The factor influencing the cashless payment system are to
be explored which are typical for various types of cashless
payments. Numerous consumers and other stakeholders have been
loyal to mode of cash and so accepting a new technology in same
field of payment has become a challenge if the right factors are
identified and examined this can follow the consumer adopting
cashless payments and those increasing the volume of digital
transactions since cashless payment are new innovation in the field
of payment sector it call for a detail link to study.

RESEARCH OBJECTIVES OF THE STUDY

The objectives of research are following:

1. To understand the impact of demographics on cashless payment

system usage.
 2. To study various factors influence peoples attitude toward cashless

transaction system usage.

3. To study the impact of price value of a product on cashless payment

system usauge .

4. To study the impact of trust on cashless payment system usauge .

5. To study the impact of innovativeness on cashless payment systems

usage.

6. To study impact of education of consumer on cashless payment

systems usage.

7. To study reasons of growth of cashless transaction system.

THEORETICAL LENS: Technology Acceptance Model ( TAM )

Technology Acceptance Model (Tam Davis,1986) has been one of the most

influential models of technology acceptance with two primary factor influencing

and individuals intention to use new technology : perceived ease of use and

perceivef usefulness. An older adult who precise digital games as too difficult

to play or a waste of time will be unlikely to want to adopt this technology

while an older adult who precise digital game as providing needed mental

stimulation and easy to learn will be more likely to want to learn how to use

digital games. One theoretical lens is applied to the study of factors influencing

cashless payment system is the Technology Acceptance Model. TAM is a well

established model that seek to explain and predict user acceptance and option

of new technologies such as cashless payment system

According to tame the intention to use technology is primary influenced by two

factors perceived usefulness and perceived ease of use, PU refers to the

degree to which a technology is believed to enhance performance or

productivity while, PEOU refers to the degree to which a technology is

believed to be used to use.

Trust price value of transaction innovativeness and education are all factors

that could influence precised usefulness and perceived ease of use and those

the intention to use cashless payment system.

CHAPTER 2 : REVIEW OF LITERATURE

This chapter includes a study of the literature from different research paper,

newspaper, reports and other trustworthy sources. The goal of this chapter is

to identify research gaps in the areas of reseach.

Shree, Sudikhsha., et al.,(2021), did an analytical study to determine how

trust and preception interact with online scams, Influencing customers behavior
toward digital transactions. That investigation demonstrated that, at macro
level consumer preferences result in digital transaction decisions that are
influenced to some extent by prior experience with online fraud. According to
their findings consumer prefernces and technology considerations influence
mode of transaction.

Dr S Yuvraj.,et al: conducted a research on conumers preception toward

cashless transaction, the research concluded that transformations that take
place in digital world has impacted all phrases of human
life.With only a button press, smartphones and internet access have simplified
people's lives.Presently, the growing prevalence of cashless payment methods
has nearly completely replaced traditional cash transactions.
Regarding privacy and security, there aren't many restrictions, but how custom
ers, banks, and other organizations utilize and handle the data will determine h
ow things work

Pal, Abhipsa., et al.,(2020), Conducted an interview based study to evaluate

previous theories in mobile technology with a human centre development.
Their study triangulated secondary data and indicated that most customers
believe digital services such as e-wallets are expensive in term of data
consumption and transaction fee but they also value the benefit of such
payment methods because they enable tremendous mobility and save their
time

Shiva kumar and Dr k, kirubargan : in their journal report of studying

problems of cashless transaction in india concluded that India is a developing
nation in a number of areas, including the financial and infrastructure sectors.
If the country's payment system is properly developed, income will rise
significantly, and trade activities will also attract the interest of various
international financial institutions. The country as a whole will use cashless
payment applications more frequently if the internet and Indian payment
system infrastructure are properly developed and the country's computer
literacy rate rises. In order to learn more about the challenges Indian citizens
face as their nation transitions they conducted various interviews.

R.Jain et al. (2020), Did And analytical investigation on the amount of

difficulty in cashless transaction system encountered by rural
population.According to the finding remembering usernames and password is
the most difficult barrier for person who are not digitally literate. They
concluded that there is a mismatch between perception and exception in
cashless transaction in rural India, Which need to be handled appropriately
through increased Internet Penetration and better grievance management.

CA kiran and N. gajjar (2020) conducted a quantitative research using

secondary data, according to their research not all of the available electronic
payment options are known to consumers. Even if they were aware,
demonetization was the only reason why the use of digital transactions
increased.They anticipate that rewards and discounts for utilizing these
electronic payment solutions since they understand how expensive turning
digital might be.Customers and bankers think that technological advancements
and security have been optimized for the successful use of digital transactions.
Chauhan, A., et al.,(2018), Did a descriptive analysis of scalability concern in
the Bitcoin and Ethereum blockchains, citing them as a serious difficulty in
blockchain. They examined numerous difficulties and developed an inspector
node model based on their finding their model approach included three pillars:
decentralization, security and scalability all of which can be highly useful for
future technologies.

Gupta, seetharaman, and Raj(2018) Found that education level has also
been found to be associated with the adoption of cashless payment system in
India. Users with higher level of education were more likely to use mobile
payments

Althaf kumar and,Yedhu Harikumar (2020) conducted a research to study

impact of cashless transaction in india and the concluded that more and more
people transition to digital payment and receiving methods, the advantages of
this decision are beginning to show. According to them India is making a slow
but steady shift from a cash-based to a cashless economy. Since digital
transactions are easily taxable and traceable, there is no opportunity for the
flow of illicit funds. Money transactions across the nation are being
modernized, with e-payment services experiencing an unparalleled surge in
popularity. People are learning to use cashless transactions more quickly than
ever before because so many establishments—including street vendors—now
accept electronic payments.
Bindu K Nambiar, Kartikeya Bolar in their report suggests that that
implementing cardless technology might completely change how consumers
access cash by doing away with the necessity for physical cards. Despite the
fact that ATMs have significantly improved client relationships by providing
access to cash and facilitating bank payments, their widespread use has left
them susceptible to network intrusions. Customers' expectations regarding
banking operations in terms of security and trust have been impacted by this
status. Nevertheless, cardless ATMs can offer a more thorough verification
procedure to guarantee that only authorized individuals access an account,
removing the possibility of card-skimming and eavesdropping on cash
dispensing machine users.

Research Hypothesis

H01: Facilities provides by cashless transaction will have a positive

effect on the behavioral intentions to use digital payments.

H02: People education’s status increase their trust in cashless

transactions..

H03:Facilitating connivency will have a positive effect on the

behavioral intentions to use digital payments..

H04 : cashless transactions are easy source of money transaction

which leads to its increasing growth.

 H05: consumers education influence consumer’s cashless payment

usage

H06 : cashless transaction are easy to use which will have a

positive effect on the behavioral intentions to use digital payments..

H07: Innovativeness in cashless transactions will have positive the

positive effect on behavioral intention of people to use digital payments.

CONCEPTUAL FRAMEWORK

Trust

Education

Price value

Better record

Easy to learn. Consumer cashless payment system

Usage

Innovativeness

Facilities

Convenincy

CHAPTER 3 : RESEARCH METHODOLOGY

Introduction
The research methods that is employed in the study are detailed In this
research. It describes the research design variables with operational definition
research type method sampling technique, research design, research method,
research gap and data collection

RESEARCH DESIGN
The research design is the general plan of seeking answers to the topic being
investigated and handling some of the problem in counter during the research
process. The study design is creative to fit the specific needs of of analysis. It
is the arranging of data collecting and analysing circumstances in such a way
that it aims to combine the value of studies purpose with economy in
procedure.

The exploratory research will be undertaken to achieve the stated objectives of

the present study. Exploratory personal investigations involving original field
interviews with the respondents will help to have a greater insight into all
possible practical aspects of the research problem. The adoption of cross-
sectional descriptive design may be very effective in the later stage of the
present study.

RESEARCH METHOD
Quantitative research is conducted in scientific investigation utilising a
specific tool to collect numerical data The result is then be tabulated using
quantitative research methodologies namely the statistical package for social
sciences as (SPSS) which is to be used to examine the data.
RESEARCH GAP
Despite The availability of numerous form of cashless payment technologies
cash remain a strong and dominant actor in the payment sector. Even Even
though there are studies on emergence of a cashless economy that include its
benefit and drawback as well as the reason why the technology will replace
cash usage there are very few studies that focus on the primary demand side
stakeholders such as consumer at this stage and they Their intention of
adopting cashless mode of payment And different factor that influence them to
use cashless mode of payment over cash mode of payment. Some studies
focus more on mobile payment uptake and the factor that influence acceptance
however there are very few studies to date that provide insight into various sort
of cashless payments and their common and option characteristi… Even
through credit cards and debit card have been used since the early 2000’s
There is a need to research what feature or needs consumer have to adapt
the transition to this new technology of cashless payments.
All through the majority of the globe has moved a cashless society peoples
attitude regarding cashless transaction very due to issues like trust security
fraud and risk. The The use use of cash has become a habit among consumer
and breaking this practice is difficult.

VARIABLES OF THE STUDY

Cashless payment system Have become increasingly popular over the year
with more and more consumer opting to use electronic payment method for
their transaction. The rise of Cashless payment system have been driven by
several factors including technological advancement convenience and security.
However the adoption of cashless payment system is not uniform across
different region and Countries. Several factors influence the use of cashless
payment system including trust preserve value innovativeness education. I
have Define these variables and explorer their influence on adoption of
cashless payment system.

Independent variables
Trust

Price value

Innovativeness

Education

Facilities

Ease to learn

Cashless payment system

Data collection
Secondary data on previous studies is gathered from different research
papers, research journals, and reports of organization and websites Of
government. Details pertaining Primarily 2 the cashless payment systems
Consumers were regularly updated and gathered from secondary sources.
There are Few advantages to obtaining data from secondary sources because
it is less time demanding and less expensive than original data acquisition the
primary data is to be collected using standardised questionnaire for customer
respondent will be assured that information they provided is used for academic
research purposes and only And will be capped confidential. The field work is
to ensure that data is collected In such a way that whole geographical spread
of different areas.

SAMPLE DESIGN

Primary data will be collected through google forms and explaining in detail

about the survey objectives and purpose of study. Research will be conducted

among different demographic factors

CHAPTER 5 : Data Analysis

PROFILE OF THE SAMPLE

The success of firms in formulating effective marketing strategies Largely

depends on maintaining and up to date profile information On the customers in

the form of customer based data. The availability Of such are comprehensive

profile provide companies with a strong basis for designing effective plans and

programs regarding the marketing of product and services. The questionarie

included a selection Of customers profile. It included customers age, income,

education level profession and other social demographic information. After

Getting the responses of total of 105 questionaries were usable for analysis.

Age Profile Of The Respondents

Age Frequenc Valid Percentage Cumulative Percentage
y
18 to 25 65 44.5 61.9
Above 25 to 40 31 21.2 91.4
Above 40 to 60 8 5.5 99
Above 60 1 .7 100
105 71.9

Total

This data represents the age profile of respondents. It shows that:

- 44.5% of respondents were aged between 18 to 25.

- 21.2% were above 25 to 40.

- 5.5% were above 40 to 60.

- Only 0.7% were above 60.

- Together, respondents aged 18 to 40 make up 91.4% of the total

respondents.

- The majority of respondents are relatively young, with those aged 18 to 25

comprising the largest group.

Gender Profile Of The Respondents

Gender Frequency Valid Percentage Cumulative Percentage

Male 46 31.5 44.2
Female 58 39.7 100

Total 104 71.2

This data represents the gender profile of respondents:

- 31.5% of respondents were male, accounting for 46 individuals.

- 39.7% were female, totaling 58 individuals.

- Combined, males and females make up 71.2% of the total respondents.

- Females represent a larger portion of the respondents compared to males,

with a difference of 8.2 percentage points between the two genders.

Educational Profile Of The Respondents

Education Frequency Valid Percentage Cumulative Percentage

Metrics 4 3.8 3.8
Intermediate 9 8.6 12.4
Graduate 41 39 51.4
Post graduate 46 43 95.2
PHd 5 4.8 100
Total 105 100

This data illustrates the education profile of respondents:

- 3.8% of respondents hold a high school diploma or equivalent (Metrics).

- 8.6% have completed intermediate education.
- The majority, 39%, are graduates.
- A significant portion, 43%, have completed post-graduate studies.
- A smaller percentage, 4.8%, have attained a Ph.D.
- When combined, those with graduate and post-graduate education make up the
majority at 92%.
- Overall, the respondents appear to be well-educated, with a significant proportion
holding advanced degrees.
 Monthly Income Profile Of The Respondents

Monthly Income Frequency Valid Percentage Cumulative Percentage

Less than 20000 46 43.8 43.8
Above 20000- 50000 33 31.4 75.2
Above 50000-100000 15 14.3 89.5
Above 100000 11 10.5 100

Total 105 100

Missing 41
Grand Total 146

This data represents the monthly income profile of respondents:

- 43.8% of respondents have a monthly income less than 20,000 units.

- 31.4% earn between 20,000 to 50,000 units per month.
- 14.3% earn between 50,000 to 100,000 units monthly.
- 10.5% earn above 100,000 units per month.
- Combined, those earning up to 100,000 units make up 89.5% of
respondents.
- The data suggests a diverse income range among the respondents, with a
majority falling within the lower to middle-income brackets.

MEAN AND STANDARD DEVIATION OF VARIABLES

Variable 11,12,14,16 are dependent variables that are Trust, Price value, ease
to learn and proper record and variables 8,9,13,15 are independent varibales
that are facilities, conveniency, innovativeness and educations.

Here's an interpretation of the data:

1. Minimum:The smallest value observed in the dataset for each variable.

2. Maximum: The largest value observed in the dataset for each variable.
3. Mean: The average value of the variable across the dataset.
4. Std. Deviation: A measure of the amount of variation or dispersion in the
dataset. It shows how much the values deviate from the mean.
5. VAR00001 to VAR00020: These are the variable names, and the
statistics provided correspond to each variable.

For example, let's take VAR00008:

- Minimum: 1
- Maximum: 5
- Mean: 3.98
- Std. Deviation: 0.971

This indicates that for VARIABLE 8, the values range from 1 to 5, with an
average value (mean) of approximately 3.98, and the values are relatively
spread out from the mean, as indicated by the standard deviation of 0.971.
Section: B
Investigating the relationship
To investigate the relationship between the various factor and decision making
in cashless payment and also to test the hypothesis i.e All the dimension have
significant positive influence on the decision making multiple regression
analysis was used. A stepwise regression is a useful tool when dealing with
many explanatory variables. It is an attempt to find the best regression model
without testing all possible regressions. In such regression variables are either
added to or deleted From the regression model at each step in the model
development process. The regression and with the selection of the best fitting
model where no variable can be added or deleted from the last fitted model.

Estimating procedures and model development

To investigate The relationship between the various factors and decision
making in cashless payment systems and also to test hypothesis all the
dimension was significant positive influence on decision making multiple
regression analysis was used. A stepwise regression is a useful tool when
dealing with many explanatory variables. It is an attempt to find the best
regression model without testing all possible regressions. In such regression
Variables are either added to or deleted from the regression model at each
step in the model development process. The regression and with the selection
of the best fitting model we are no variable can be deleted or added from the
last fitted model.
Relationship Analysis
Two examine the fit of the regression model and to identify the best predictor
of decision making in factors affecting cashless payment stepwise regression
was used with the dimensions of quality as the predictor. In the model 4 In the
dimensions which originally consisted of price value trust innovation education
Is to use proper record In cashless payment system as dependent

Correlation

- Pearson correlation coefficient between DMEAN and IDMEAN is 0.693.

 - The correlation is statistically significant at the 0.01 level (two-tailed),
indicated by the p-value of 0.000.
- The sample size (N) for this correlation analysis is 105.

The data shows strong positive correlation between dependent and

independent variables. This indicates that as the if dependent variables are
increases , independent variables are also increases.
Moreover, the link is exceedingly unlikely to have happened by accident becau
se it is statistically significant at the 0.01 level (two-tailed)
These results, which have a sample size of 105, point to a strong correlation b
etween DMEAN and IDMEAN in the studied dataset.

REGRESSION

Model Summary
- Model R: The multiple correlation coefficient is 0.693, indicating a strong
positive relationship between IDMEAN and DMEAN.
- R Square: Approximately 48.1% of the variance in DMEAN is explained by
IDMEAN.
- Adjusted R Square: Adjusted for the number of predictors, the adjusted R
Square is 0.476.
 - Std. Error of the Estimate: The average difference between observed and
predicted values of DMEAN is approximately 0.47992.

Overall, the analysis suggests that IDMEAN is a significant predictor of

DMEAN, explaining a considerable portion of its variance. The regression
model provides a good fit to the data, and the relationship between IDMEAN
and DMEAN is statistically significant.

ANOVA

This objective of ANOVA table is to test the acceptability of the model from a
statistical perspective. The sum of squares degree of freedom and mean
square are displayed for two sources of variation regression and residual.
- The ANOVA results indicate that the regression model significantly explains
the variance in the dependent variable (DMEAN), as indicated by the highly
significant F-statistic (F = 95.377, p < 0.001).
- The model squares provide information about the sum of squares for the
regression model, residual, and total. The sum of model squares represents
the variation explained by the regression model, while the sum of residual
squares represents the unexplained variation.
- The ratio of the model mean square to the residual mean square (F-statistic)
determines whether the regression model is statistically significant, and in this
case, it is, with a very low probability of occurring by chance.
- Overall, these results confirm the statistical significance of the regression
model in predicting DMEAN based on the predictor variable IDMEAN.

Section C
Crosstabs
In order to see whether the average perception were identical for old groups
involved in this survey the cross tab test was performed. The test was used to
measure any significant differences in responses since there were different
group involved in the survey.
This known parametric test is designed to detect the differences among
population that does not require any assumption about the shape of the
population distribution. This test is appropriate when measurement of the
variable under investigation is an ordinal scale. The results are shown with
each demographic aspect in relation to variables taken.

Below shows the output obtained from cross tabulation of choosen

variables with age of respondents

Chi-square tests are a type of statistical test that are used to determine whether there is a
statistically significant difference between two or more groups.
The p-value of the chi-square test is 0.074. A p-value less than 0.05 is

typically considered to be statistically significant, which means that we can

reject the null hypothesis. The null hypothesis, in this case, is that there is no
relationship between DCAT and VAR00017. So, the chi-square test suggests
that there is a relationship between these two variables.
Below shows the output obtained from cross tabulation of choosen
variables with educational level of respondents
CHAPTER 6 : CONCLUSION

Research objectives

The objective Of this research is to provide a comprehensive understanding of

the factors that influence consumers Adoption and usage of cashless payment
systems. Digital payment system have gained popularity over the years and
they adoption has accelerated since the COVID-19 pandemic. However Not
all consumers have embraced these payment methods and some still prefer
cash based transactions. Therefore it is crucial to identify the factors that
shape consumers attitude towards cashless payment system.
To achieve this object Objective of the study has begun by conducting
through investigation of a current pattern of usage of cashless payment system
among consumers. This analysis has examined the frequency of usage the
type of cashless payment system used and the reason for usage or non
usage.
This analysis has provide a baseline understanding of consumers current
attitude and behaviour toward cashless payment systems.
Next the study has examined the impact of several key factor on consumer
adoption and usage of cashless payment systems. One of these factor is the
price value of product. The study has assess whether consumers are more
likely to use cashless payment system for higher priced items or whether there
is threshold beyond which consumer prefer cash payments.
Another important factor is explorer is trust. The study has examined the role
of trust in shaping consumers adoption of cashless payment systems. This
analysis has explored the various dimensions of trust such as security
reliability and privacy and assess their influence on consumers willingness to
use this payment methods.
The study has also examined the impact of innovativeness on consumers
attitude towards cashless payment system. This analysis has accessed rather
consumer who are more open to adopting new technologies are more likely to
use cashless payment system than those who are less innovative.
Finally the study has analysed the relationship between consumer education
level and their likelihood of using cashless payment systems. This analysis has
access weather consumer with higher education level or more likely to adopt
cashless payment system than those with lower education level.
Overall by identifying the factor that influence consumer attitude and
behaviour towards cashless payment system these research aim to provide
insight that can help businesses and policy maker dual effective strategies to
promote their adoption and usage. Additionally the findings of the study may
contribute to border literate on adoption of new technologies and the factor that
shape consumers behaviour.

Summary of methodology
The present study aimed to investigate the factor influencing the adoption of
cashless mode of payment In different places. The survey used are likert scale
cautionary To collect the data sample of 105 respondents.
To participate in study respondents were required to meet 2 criteria:
1. They must have knowledge of cashless payment system.
2. They must have experience cashless payment system

The survey cautionary consisted of several sections including

demographic information experience with cashless mode of payment
received ease of use usefulness risk and intention to use. Likert Scale
was used to measure respondents attitude and perception toward
cashless mode of payment.

Data were analysed using several statistical Techniques Including

correlation regression and chi square test. Correlation analysis was used
to determine the strength and direction of relationship between different
variables. Regression analysis was used to identify the factors that
significantly influence The adoption of cashless modes of payments.
Skyscape test were used to determine whether there were any
significant differences between different groups of respondents based on
the demographic characteristics.
 Overall the study aimed to provide insights into the factor that influence
that option of cashless modes of payment and to identify strategies to
promote their use among consumers in different geographical places.

Managerial Implication and Recommendations

Based on the research on the factor influencing cashless transaction

here are some managerial implication and recommendations:
Increase awareness and education: My study found that education play an
essential role for cashless transaction In India. So my Study Recommend that
companies and government organization should increase awareness and
educate the public Regarding advantages of cashless transaction over Cash
mode of transaction Through various platforms.

Enhance trust: My study found that trust is Also a significant predictor of

cashless transaction. Therefore it recommend that companies and other
government organization should run various programs to build trust in public
regarding cashless transaction by ensuring that security measures and policies
are transparent and effective.
Encourage innovation: My study found that innovativeness is a significant
factor of cashless transaction. Therefore it is recommended that companies
and government organization encourage different innovations in different mode
of cashless payment system. This could include developing new payment
systems or improving existing one by incorporating features.
Provide user friendly interfaces: My study found that ease of use is a
significant factor of cashless transactions. Therefore it recommend that
companies and other government organization provide user friendly interfaces
that are easy to navigate and understand. This could include developing
mobile applications that are easy to use and provide manual and tutorial to
assist user.
Customize marketing strategies: My study found that different factors
influence cashless transaction for different demographic groups. Therefore it is
recommended that companies and government organization customise their
marketing strategies to target different demographic groups.
Collaborate with other organizations: My study found that cashless
transaction are influenced by by various factors. Therefore it is recommended
that companies and government organisation collaborate with other
organisation to address these factors.

CHAPTER 7: Limitations and Future Scope for Research

Limited Geographical coverage : collection of data of my study is limited to

few places. Factors such as different culture, different preception and attitude
may impact the adoption and usuage of cashless payment systems

Limited Generalizability: A sample size of 105 respondents may not be large

enough to make generalizations about the entire population of user of cashless
payment systems. This may limit the external validity of my findings and
restrict the generalizablity to the study.
Self Report Measures:
Likert sacles rely on self reported responses, which may be subject to
response bias or social desirability bias. Participants may over report their trust
in cashless payment systems or under report may concern they may have
about security or privacy.
Single Method of Data Collection: Collecting data Through only one method
that is online survey may limit the depth and breadth of the information I
collect. Other methods such as interview provide more in depth information
about the factor influencing cashless transaction and may allow participants to
elaborate on their responses.
Limited variables: My study focused on few variables that may influence
cashless transactions.

Suggestions for further research based on the limitation of current study:

Increasing sample size: As I mentioned in my limitation Increasing the

sample size can improve the generalizability of the findings. To achieve this
we could consider using a large sample or using stratified Sampling to ensure
are diverse representation of the population.

Expanding Geographical coverage: Too inhance the external validity of the

findings we could expand the geographical coverage of the study. This could
involve collecting data from multiple regions within India or other countries with
other different culture economic and technological aspects.
Using Multiple Data Collection Methods: To collect more reliable data, one
could help us gain a more in depth understanding of the factors influencing
cashless transactions and provide different prespectives on the topic.
Including more variables:
To obtain a more complete picture of the factors influencing cashless
transaction, we could include additional independent variables.

Using Different Data Collection Tools:

To avoid response Bias or social desirability buyers V could consider using
different data collection tools. These could include using behavioural
observations Physiological measures Over experiments.
References

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