A Study of Adoption of Digital Payment Practices by Retail Shops in Pune Region

Abstract

Digitalization of business processes has made very crucial contribution towards industrial as well as economic development. Technological integrations, consumer driven markets and increased competition has forced businesses to remodel the way they have been operating till now. Adoption of digital payment practices being one of such change. Through this study, an attempt is being made towards understanding the adaptation levels of digital payment modes like credit and debit cards, e- wallets, internet banking etc. by the retail shops. A survey was conducted in Pune city area amongst retail shops of varied categories, owners being the respondents. With this study, it can be understood that digital payment practices is the way ahead. This will certainly boost the productivity of businesses along with providing more convenience to the customers.

Keywords: Digitalization, Demonetization, Digital Payment Practices

JEL Classification: E58, G38