Bieżący numer
Aktualności
Od Redakcji czerwiec 2022
Zaproszenie
Od Redakcji wrzesień 2022
Od Redakcji listopad 2022
Od Redakcji styczeń 2023
Od Redakcji marzec 2023
Od Redakcji wrzesień 2023
Od Redakcji grudzień 2023
Od Redakcji lipiec 2025
Archiwum
O czasopiśmie
O nas
Cel i zakres tematyczny czasopisma
Zespół redakcyjny
Polityka Open Access
Indeksowanie i punktacja
Kontakt
Prenumerata - dotyczy tylko wersji drukowanej czasopisma
Online first
Model biznesowy
Standardy etyczne
ARTYKUŁ ORYGINALNY
Going cashless easy or challenging? Exploring Uncharted Facets of Digital Payments: A Mixed-Methods Approach
1
HPKVBS, Central university of Himachal Pradesh, India
2
HPKVBS, Central University of Himachal Pradesh
Zaznaczeni autorzy mieli równy wkład w przygotowanie tego artykułu
Data nadesłania: 04-09-2025
Data ostatniej rewizji: 11-09-2025
Data akceptacji: 16-09-2025
Data publikacji online: 27-11-2025
Data publikacji: 27-11-2025
Economic and Regional Studies 2025;18(3):341-358
SŁOWA KLUCZOWE
Financial BehaviourQualitative AnalysisKeywords: Digital PaymentsConsumption BehaviourMix-method approach
KODY KLASYFIKACJI JEL
D14
G53
O33
DZIEDZINY
STRESZCZENIE
Subject and purpose of work: This study examines the adoption of digital payment (DP) among students, focusing on reasons for use and their impact on expenditure and financial behavior. Materials and methods: A mixed-method approach was adopted. Quantitative data from 192 college and university students were analyzed using descriptive statistics, while qualitative insights from 30 respondents provided deeper understanding. Results: Findings reveal a strong inclination toward DP in students’ consumption patterns. Demonetization and the Covid-19 pandemic acted as major drivers of adoption. Qualitative results further clarified the motivations and challenges associated with DP usage. Conclusions: The study highlights the need for DP providers to enhance user-friendly features and address existing issues. Integration of AI and blockchain can foster innovation, while financial management education can strengthen responsible adoption among young users.
REFERENCJE (54)
1.
Agarwal, S., Basu, D., Ghosh, P., Pareek, B., and Zhang, J. (2018). Demonetization and digitization. Available at SSRN. 3197990. http://dx.doi.org/10.2139/ssrn....
2.
Aji, H. M., Berakon, I., and Md Husin, M. (2020). COVID-19 and Digital Payment usage intention: A multigroup analysis between Indonesia and Malaysia. Cogent Business and Management, 7(1) https://doi.org/10.1080/233119....
3.
Balan, R. K., and Ramasubbu, N. (2009). The Digital Payment: Opportunities and prototypes. IEEE Computer, 42(4), 100-102. https://ink.library.smu.edu.sg... context=sis_research.
4.
Balkrishan, Bhardwaj, B., and Sharma, D. (2025). The paradox of exploitation vs exploration: reconnoitring the unexplored dimensions of organizational ambidexterity for developing countries including India and China. Asia Pacific Business Review, 1-39. https://doi.org/10.1080/136023....
5.
Balkrishan, Bhardwaj, B., Sharma, D., and Dhiman, M.C. (2024). Exploring Unexplored Dimensions of Organizational Ambidexterity in the Hotel Industry: Systematic Literature Review, Synthesis and Research Agenda. International Journal of Hospitality and Tourism Systems 17 (1), 48-65.
6.
Bhardwaj, B., Balkrishan, and Sharma, D., (2024). “Organizational Ambidexterity: Sustaining a Balance Between Exploration and Exploitation.” Reference Module in Social Sciences 1, 718-721. https://doi.org/10.1016/b978-0....
7.
Bhardwaj, B., Balkrishan, Sharma, D. (2023), “Fostering Creative Entrepreneurship Through Self-Help Group: Post-COVID Resilience”, Hill, I., Elias, S.R.S.T.A., Dobson, S. and Jones, P. (Ed.) Creative (and Cultural) Industry Entrepreneurship in the 21st Century (Contemporary Issues in Entrepreneurship Research, Vol. 18A), Emerald Publishing Limited, Leeds, pp. 91-104. https://doi.org/10.1108/S2040-....
8.
Bhuiyan, M. R. I., Akter, M. S., and Islam, S. (2025). How does digital payment transform society as a cashless society? An empirical study in the developing economy. Journal of Science and Technology Policy Management, 16(4), 756-774. https://doi.org/10.1108/JSTPM-....
9.
Business today desk (2024, April 13). Mobile wallet usage in India to grow at 18.3%, touch $6.4 trillion in 2028. Business Today. https://www.businesstoday.in/p... Payment-usage-in-india-to-grow-at-183-touch-64-trillion-in-2028-424142-2024-04-03.
10.
Calderon, A. A. (2025). Digital Payments and their Role in Enhancing Financial Transactions Efficiency. International Journal of Economics and Financial Issues, 15(1), 182-189. https://doi.org/10.32479/ijefi....
11.
Chadha, S. (2022, March 4). Digital Payments to overtake cash as India’s leading point-of sale payment method by 2023. The Times of India,https://timesofindia.indiatime... 2023/articleshow/89985067.cms.
12.
Chakraborty, S., and Mitra, D. (2018). A study on consumers adoption intention for Digital Payments in India. International Journal on Customer Relations, 6(1), 38-57.
13.
Chandrasekhar, C. P., Ghosh, J. (2018). The financialization of finance? Demonetization and the dubious push to cashlessness in India. Development and Change, 49(2), 420-436. https://doi.org/10.1111/dech.1....
14.
Chea, C. C. (2020). The challenges and future of Digital Payment. In Encyclopedia of criminal activities and the deep web (pp. 932-944). IGI Global.
15.
Colorplast (2021). History of Digital Payments in India. Colorplast. https://colorplast.in/history-.... Date assessed: 19/02/2025.
16.
Davitaia, A. (2025). Artificial Intelligence and machine learning in fraud detection for digital payments. International Journal of Science and Research Archive, 15(3), 714-719. https://doi.org/10.30574/ijsra....
17.
Department of Financial Services (2024), Digital Payments, Ministry of Finance, GoI, Date assessed: 13/02/2025. https://financialservices.gov.....
18.
Dhamija, D., Dhamija, A., Ranjan, R., Jha, and S. S., Renu. (2022, September). E-Rupi – Recent Advancement in Digital Payment System. In International Conference on Innovative Computing and Communications: Proceedings of ICICC 2022, 2, 205-214. Singapore: Springer Nature Singapore.
19.
Fanuel, P. N., and Fajar, A. N. (2021). Digital Paymentwar in Asia: Finding the drivers of Digital Paymentadoption. Journal of Payments Strategy and Systems, 15(1), 79-91. https://www.ingentaconnect.com....
20.
Hassan, M. A., and Shukur, Z. (2019, September). Review of Digital Payment requirements. In 2019 International Conference on Cybersecurity (ICoCSec) (pp. 43-48). IEEE.
21.
Hidajat, T., and Lutfiyah, N. (2022). Digital Payment: Make Users More Consumptive? Econ-Bank: Journal of Economics and Banking, 4(1), 15-22. https://jurnal.stiebankbpdjate....
22.
Huang, J., Liu, R., Wang, W., Wang, C., and Jin, Y. J. (2024). Unleashing Fintech’s potential: A catalyst for green bonds issuance. Journal of International Financial Markets, Institutions and Money, 93, 102009.
23.
Jangid, J ., Bhardwaj, B., and Sharma, D. (2024a). Green bonds. In Reference Module in Social Sciences. Elsevier. doi: 10.1016/B978-0-443-13701-3.00033-5.
24.
Jangid, J., and Bhardwaj, B. (2024b). Relationship Between AI and Green Finance: Exploring the Changing Dynamics. In Leveraging AI and Emotional Intelligence in Contemporary Business Organizations (pp. 211-218). IGI Global. 10.4018/979-8-3693-1902-4.ch012.
25.
Jangid, J., Bhardwaj, B. and Sharma, D. (2024), “The nexus between spirituality and personal financial behavior: a study of students with entrepreneurial intentions”, LBS Journal of Management and Research, 22 (2), 190-199. https://doi.org/10.1108/LBSJMR....
26.
Jangid, J., Bhardwaj, B., Balkrishan, & Sharma, D. (2025). Mapping the knowledge and research trends of green finance in India: a bibliometric and thematic review. LBS Journal of Management & Research, 1-21. https://doi.org/10.1108/LBSJMR....
27.
Jayasingh, S., and Eze, U. C. (2012). Analyzing the intention to use mobile coupon and the moderating effects of price consciousness and gender. International Journal of E-Business Research (IJEBR), 8(1), 54-75. https://doi.org/10.4018/jebr.2....
28.
Kamboj, S., Matharu, M., and Shukla, Y. (2024). Examining the effect of perceived risk, self-efficacy and individual differences on consumer intention to use contactless mobile payment services. Journal of Science and Technology Policy Management 16(4), 650-681. https://doi.org/10.1108/JSTPM-....
29.
Kanhekar, H. R., and Mane, S. N. (2015). Digital Payment. IJ Wireless and Microwave Technologies, 4, 62-68. https://doi.org/10.5815/ijwmt.....
30.
Karim, M. W., Haque, A., Ulfy, M. A., Hossain, M. A., and Anis, M. Z. (2020). Factors influencing the use of Digital Payment as a payment method among Malaysian young adults. Journal of International Business and Management, 3(2), 1-12. https://www.academia.edu/downl....
31.
Kraiwanit, T., Limna, P., and Wattanasin, P. (2024). Digital Payment dynamics: Perspectives on potential Worldcoin adoption factors in a developing country’s FinTech Sector. Journal of Open Innovation: Technology, Market, and Complexity, 10(2), 100287. https://doi.org/10.1016/j.joit....
32.
Kumar, P., and Chaubey, D. S. (2017). Demonetization and its impact on adoption of digital payment: Opportunities, issues, and challenges. Abhinav National Monthly Refereed Journal of Research in Commerce and Management, 6(6), 15.
33.
Maji, P. (2017). Demonetisation keeps digital payments up; cashless transactions grow 13.5% in September. Business Today, https://www.businesstoday.in/p....
34.
Malik, D. R., Kataria, D. A., and Nandal, D. N. (2020). Analysis of Digital Payments for sustainability: A comparative analysis between retailers and customers. International Journal of Management, 11(7). DOI: 10.34218/IJM.11.7.2020.035.
35.
Mukherjee, A., and Gaur, A. (2024). Role Of ATMs In Financial Inclusion (No. 24-r-05). Indian Council for Research on International Economic Relations (ICRIER), New Delhi, India.
36.
Padiya, J., and Bantwa, A. (2018). Adoption of Digital Payments: a post demonetisation study in Ahmedabad City. Pacific Business Review International, 10(10). https://papers.ssrn.com/sol3/p....
37.
Patra, G. K., Rajaram, S. K., Boddapati, V. N., Kuraku, C., and Gollangi, H. K. (2022). Advancing Digital Payment Systems: Combining AI, Big Data, and Biometric Authentication for Enhanced Security. International Journal of Engineering and Computer Science, 11(08), 10-18535. https://doi.org/10.18535/ijecs....
38.
Pizzan-Tomanguillo, N. D. P., Pereyra-Gonzales, T. V., León-Ramírez, S. V., Bautista-Fasabi, J., Rosales-Bardalez, C. D., Gómez-Apaza, R. D., and Pizzán-Tomanguillo, S. L. (2024). Evolution and Trends in Digital PaymentResearch: A Bibliometric Analysis in Scopus and Web of Science. Publications, 12(4), 34. https://doi.org/10.3390/public....
39.
Bagla, R.K., and Sancheti, V. (2018) “Gaps in customer satisfaction with Digital Payments: challenge for sustainability”, Journal of Management Development, 37(6), 442-451. https://doi.org/10.1108/JMD-04....
40.
Rathore, H. S. (2016). Adoption of Digital Paymentby consumers. BVIMSR’s journal of management research, 8(1), 69-75. https://bvimsr.org/wp-content/....
41.
Revathy, C., and Balaji, P. (2020). Determinants of behavioural intention on Digital Payment usage: an empirical examination in amid of covid-19 lockdown period. International Journal of Management (IJM), 11(6), 92-104. 10.34218/IJM.11.6.2020.008.
42.
San Martín, H., and Herrero, Á. (2012). Influence of the user’s psychological factors on the online purchase intention in rural tourism: Integrating innovativeness to the UTAUT framework. Tourism Management, 33(2), 341-350. https://doi.org/10.1016/j.tour....
43.
Senali, M. G., and Iranmanesh, M., Ismail, F. N., Rahim, N. F. A., Khoshkam, M., and Mirzaei, M. (2023). Determinants of intention to use e-Wallet: Personal innovativeness and propensity to trust as moderators. International Journal of Human–Computer Interaction, 39(12), 2361-2373. https://doi.org/10.1080/104473....
44.
Shaw, B., and Kesharwani, A. (2019). Moderating effect of smartphone addiction on mobile wallet payment adoption. Journal of Internet Commerce, 18(3), 291-309. https://doi.org/10.1080/153328....
45.
Shukla, S., (2025), UPI dominates digital payments, sees explosive growth over five years. Economic Times, Date assessed: 20/02/2025 https://economictimes.indiatim....
46.
Soni, H, (2024). The Evolution of Digital Payments in India. Finextra. https://www.finextra.com/blogp..., Date assessed: 19/02/2025.
47.
Susanto, E., Solikin, I., and Purnomo, B. S. (2022). A review of digital payment adoption in Asia. Advanced International Journal of Business, Entrepreneurship and SMEs, 4(11), 01-15. 10.35631/AIJBES.411001.
48.
Teng, S., and Khong, K. W. (2021). Examining actual consumer usage of Digital Payment: A case study of big data analytics. Computers in Human Behavior, 121, 106778. https://doi.org/10.1016/j.chb.....
49.
Thakur, R., and Srivastava, M. (2014). Adoption readiness, personal innovativeness, perceived risk and usage intention across customer groups for mobile payment services in India. Internet Research, 24(3), 369-392. https://doi.org/10.1108/IntR-1....
50.
Tiwari, P., Garg, V., and Singhal, A. (2019, January). A study of Consumer adoption of Digital Payment special Reference to NCR. In 2019 9th International Conference on Cloud Computing, Data Science and Engineering (Confluence). 664-669. IEEE. https://doi.org/10.1109/CONFLU....
51.
Tumbe, C. (2015). Towards financial inclusion: The post office of India as a financial institution, 1880-2010. The Indian Economic and Social History Review, 52(4), 409-437.
52.
Upadhayaya, A. (2012). Electronic Commerce and Digital Payment. International Journal of Recent Research and Review, 1(1), 37-41.
53.
Wu, W. Y., and Ke, C. C. (2015). An online shopping behavior model integrating personality traits, perceived risk, and technology acceptance. Social Behavior and Personality: An International Journal, 43(1), 85-97. https://doi.org/10.2224/sbp.20....
54.
Yang, M., and Mamun, A. A., Mohiuddin, M., Nawi, N. C., Zainol, N. R. (2021). Cashless transactions: A study on intention and adoption of Digital Payments. Sustainability, 13(2), 831. https://doi.org/10.3390/su1302....
| eISSN: | 2451-182X |
| ISSN: | 2083-3725 |
„Digitalizacja czasopisma Economic and Regional Studies/ Studia Ekonomiczne i Regionalne – zadanie finansowane w ramach umowy Nr 819/P-DUN/2018 ze środków Ministra Nauki i Szkolnictwa Wyższego przeznaczonych na działalność upowszechniającą naukę”.
© 2006-2025 Journal hosting platform by Bentus
Przetwarzamy dane osobowe zbierane podczas odwiedzania serwisu. Realizacja funkcji pozyskiwania informacji o użytkownikach i ich zachowaniu odbywa się poprzez dobrowolnie wprowadzone w formularzach informacje oraz zapisywanie w urządzeniach końcowych plików cookies (tzw. ciasteczka). Dane, w tym pliki cookies, wykorzystywane są w celu realizacji usług, zapewnienia wygodnego korzystania ze strony oraz w celu monitorowania ruchu zgodnie z Polityką prywatności. Dane są także zbierane i przetwarzane przez narzędzie Google Analytics (więcej).
Możesz zmienić ustawienia cookies w swojej przeglądarce. Ograniczenie stosowania plików cookies w konfiguracji przeglądarki może wpłynąć na niektóre funkcjonalności dostępne na stronie.
Możesz zmienić ustawienia cookies w swojej przeglądarce. Ograniczenie stosowania plików cookies w konfiguracji przeglądarki może wpłynąć na niektóre funkcjonalności dostępne na stronie.
