Factors Influencing Digital Payment Adoption among Indian Consumers: A Review
DOI:
https://doi.org/10.31305/rrjss.2025.v05.n01.004Keywords:
Digital Payments, Consumer Adoption, India, UPI, Demographic Factors, Technological Adoption, Financial InclusionAbstract
Rapidly improving conditions in India Digital payment through government efforts, financial technology, and greater smartphone penetration have changed consumer behaviour and financial transactions. This review paper provides a critical analysis of the influential aspects related to digital payment adoption among Indian consumers from a multidisciplinary approach including understanding of the demographic, technological, economic, psychological, social, and policy based perspectives. These results indicate that although various issues including ease of use, accessibility of smartphones, financial, and digital literacy together play a significant role towards encouraging adoption, there remain several barriers, including security, infrastructural, and behavioural barriers especially in the underrepresented and rural locations. Other research gaps noted in the paper are a dearth of longitudinal studies, underrepresentation of the rural and gender research and the lack of research into behavioural economics and failure of digital services. This review has summarised empirical evidence, as well as identified gaps that should be filled by research thus necessitating the formulation of comprehensive, inclusive measures towards the meaningful, sustainable development of digital payments in India.
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