“PENETRATION OF DIGITAL PAYMENT

SYSTEMS IN PUNE REGION”

Subject: Business Research Method

TEA-P
GROUP: - D 3.3
GROUP MEMBERS:
Abhishek Deshmukh 01
Onkar Nagane 29
Pratiksha Bargal 34
Sagar Shelke 38
Vallabh kulkarni 60
  Digital payment system have become increasingly in
recent years, as they offer a convenient and secure
way for individual and businesses to make and
receive payments. Pune, a major city in the western
Introduction India state of Maharashtra, has also seen a
significant increasing in the use of digital payment
systems. However, there are still many individuals
and businesses in Pune that rely on traditional
payment methods such as cash and cheques.
  Literature reviewed from various papers suggested that digital
payment is far more convenient compare to traditional medium of
paper currency. This method of payment in 24x7 available from
anywhere.
 Such payment transaction can be done by any individual who possess
LITERATURE internet connection & they don’t need to wait in queue or visit banks.

REVIEW  In the recent years there has been an evolution of the digital payment
which started to get slow attraction from users, researchers as it was
bringing change in the modern e-commerce.
 It was getting attraction the researcher’s started to define it in various
way it focused on various fields namely business, IT, accounts &
finance.
 1)Limited awareness and understanding of digital payment systems
among the population in Pune: Many individuals in Pune may not be
aware of the different types of digital payment systems available or how
to use them. This can hinder the adoption and usage of digital payment
systems in the region.

STATEMENT 2)Security concerns: Some individuals in Pune may be hesitant to use

OF THE digital payment systems due to concerns about security and the risk of
fraud.
PROBLEMS
3)Competition from traditional payment methods: Digital payment
systems may face competition from traditional payment methods, such
as cash and checks, which are still widely used in Pune.
 To explore the current state of digital payment systems in Pune,
including the types of digital payment systems that are being used
and the factors that influence their adoption and usage.

To identify the factors that are driving or hindering the adoption of

digital payment systems in the region.
Research
Objectives
To understand the user experiences and perceptions of digital
payment systems in the Pune region.

To provide recommendations for how to increase the adoption of

digital payment system in the Pune region.
 NEED FOR
TO
UNDERSTAND
TO INFORM
POLICY AND
TO CONTRIBUTE
TO THE EXISTING
TO ADDRESS
PRACTICAL
THE STUDY
THE CURRENT DECISION- RESEARCH ON CHALLENGES
STATE OF MAKING. DIGITAL AND
DIGITAL PAYMENT OPPORTUNITIES.
PAYMENT SYSTEM.
SYSTEMS IN
PUNE.
 1)The adoption and usage of
digital payment systems in
Pune is influenced by the
perceived ease of use and
usefulness of the technology,
as well as the availability and
reliability of the technology.
RESEARCH
HYPOTHESIS
4)The adoption and usage of
digital payment systems in
Pune is influenced by the
competition from traditional
payment methods, such as
cash and checks.
2)Security concerns and a lack
of awareness and
understanding of digital
payment systems are barriers
to the adoption and usage of
digital payment systems in
Pune.
3)Cultural and societal factors,
such as education level and
income, play a role in the
adoption and usage of digital
payment systems in Pune.
 Research type: In this research we have use primary data which is
collected by taking survey as well as secondary data which is
provided by government of India. Primary data is collected for the
purpose of this paper. We create a google form and circulated on
social media to gate data. A total 70 respondents participated in this
study.

RESEARCH Research design: A cross-sectional survey design will be used to

collect data from a representative sample of individuals in Pune who
METHODOLOGY are familiar with digital payment systems. The survey will be
administered online, using a structure questionnaire.

Sampling: A stratified sampling approach will be used to ensure that

the sample will be stratified based on age, gender, education level
and income level. We achieving a response rate of at least 70% out of
100. In these 70 individuals 60 individual are the consumers and 10
are the merchants.
Data analysis: The data collection from the survey will be
analysed using both descriptive and inferential statistics.

Validity and reliability: Measures will be taken to ensure the

validity and reliability of the data collected from the survey.
The questionnaire will be polite tested to ensure that the RESEARCH
questions are clear and easy to understand. In addition,
measures will be taken to ensure the confidentially and METHODOLOGY
anonymity of the respondents.

Data collection: The structured questionnaire will include a

combination of closed-ended and open-ended questions. The
closed-ended questions will be used to gather demographic
information, and open-ended questions will be used to gather
qualitative data on the perceived benefits and challenges of
using digital payment systems in Pune region.
 1)Demographic information (e.g., age, gender, income level)

2)Digital payment usage habits (e.g., frequency of use, preferred

payment method)

VARIABLES 3)Attitudes towards digital payment systems (e.g., perceived

convenience, perceived security)

4)Barriers to adoption (e.g., lack of awareness, lack of trust)

5)Perceived benefits of digital payment systems (e.g., convenience,

security)
  Gender Data: In total responses of 60 participants, we got 56.7% of responses from
male and 43.3% responses from females.
 Age Data: In age variables, the responses we got are as follows. From total responses
3% belongs to below 18 years age category, 80% belongs to between 18 to 25 years
age category, 10% belongs to belongs to between 25 to 40 years age category and
remaining7% belongs to above 40 years age category.
 Data by Profession:- With profession data we can found out that students are the
most user of digital payment system with holding 76.7% of total user of digital
payment. Second largest user belongs to working class professionals with 16.7% share.

DATA 2% are belongs to businessman class category. And remain 4.6% are from others
class.

ANALYSIS  Users Data:- Its is very important data, as this data will gives us information on how
much percentage of population is using any digital payment methods. With received
responses with found out that from total responses 93.3% population uses digital
payment method for at least once. Remaining 6.7% are yet to be interacted with
digital payment system.
 Type of methods used: As this question was multitype answer, we exactly got data of
how many of the users use which type of methods to do payments? In total 100%
users 83.3% users uses Mobile Wallet method to do digital payments. Were 61.7%
uses UPI as the one of the methods to digital payment. With 56.7% users uses
Debit/Credit card. And 33.3% use Net banking services provided by bank. And at the
final remaining 5.1% uses different digital payment methods including NEFT, prepaid
card etc.
DATA ANALYSIS
 Frequency of Use: From the responses which we got 30% users use digital payment method less than 5 times a day. Were
45% users use it more than 5 times but less than 10 times a day. 25% users are the one who uses digital payment
methods more than 10 times a day.
 Usages period: 80% users are using digital payment systems more than one years. And 13.3% are stared using digital
payments from last one year. Were remaining 6.7% are the new users of digital payment methods who are stared using it
from last 6 months.
 Percentage of user faced Problem: Out of 100% users 88.3% have faced some issues while using digital payments method
for financial transactions. And 11.7% didn’t faced any issues till date.
 Types of Issues Faced: Highest number of users have faced technical issues like server error, network failure etc. with
93.3% out pf 100%. Were 3% faced Security issues. And 3.7% remaining faced User related and other issues.
 Factors Influence on users' decision: In this data we can understand what factors influence users' decision to use digital
payment for financial transaction. 43.4% users says convenience was the factor to influence them to use Digital payment
methods. Were 31.7% says safety and security provided by digital payment methods helped them to decided to choose
digital payments system. 15% users influenced by speed of transaction and remaining 10% say Availability of discounts
and cashbacks influenced them to come over digital payment methods systems.
 Trust on Digital Payment systems: in this question we asked the users that weather they will recommend others to use
Digital payment methods? And we can get data that 78.3% says they will recommend others to use digital methods were
20% says they are not sure on that they would recommend or not to others. And at final, the remaining 1.7% says they
don’t want to recommend it.
 To conclude, a unique and unprecedented event such as the
pandemic in 2020 has impacted the digital payment system
significantly and is probably a huge game-changer for not only
Pune region but also for India in digital payment adoption ever
since the demonetization in 2016.
 Most of the respondents use digital payment.
 Most people are switching to digital payment system.
 E-wallet/Mobile wallet has been the preferred mode of
payment.
CONCLUSION
 Server problem and poor internet connectivity are the main
concern around digital payment.

LIMITATION: Study is limited to knowledge of respondent, and

it is purely subjective. Study intended to know the people
preference towards the digital payment system and methods.