AWARENESS OF DIGITAL PAYMENT METHODS AMONG RURAL HOUSEHOLDS

Abstract: The ever-changing digital systems have made banking services more accessible to customers. Digital payment methods offered by a banker are the new best thing that could have happened to mankind. In fact, not only it has provided a means of convenience for today’s banking times but also helped individuals to go paperless. Customers can do their transactions by sitting at their comfortable points by simply clicking a button on their digital devices such as smart phones, laptops, desktops, etc. Customer attitudes and behavior are evolving rapidly. Digital is preferred worldwide. Digital technology is, itself changing and every new step in technology throws open new capabilities to enhance customer delight. Digital modes are more user-friendly in terms of saving time, cost, and effort. The customer education and customer communication for technology-based services will be different in content and mode of delivery, compared to the conventional practices. Banks need to master these also for efficient and effective use of their digital offerings. Our society is not in a full-fledged manner to cope with the digital change due to the digital divide. Focusing on the aforesaid situation, the present study is entitled awareness of digital payment methods among rural households. The study is mainly focused on the awareness level of various digital payment modes and what motivates to use them. Descriptive research is carried out by focusing on 105 respondents by following a simple random sampling method. Respondents belong to the Palakkad district in Kerala. Both secondary, as well as primary data are used. Collected data are analyzed by using statistical tools consisting of mean, standard deviation, Mean Percent Score, Independent sample t-test, and one-way ANOVA. The output of the study revealed that the respondents are aware of various digital payment modes. This study does not travel beyond the scope of awareness level which makes its constraints and offers the scope for further study.