From Cash to Clicks: Awareness, Usage behaviour, and Platform preferences of digital payment systems among undergraduate students

Abstract

The rapid expansion of digital payment systems has transformed transactional behaviour and accelerated financial digitalisation in India. Among diverse user groups, undergraduate students represent a technologically adapt segment whose payment practices reflect the sustainability of emerging cashless ecosystems. This study examines the level of awareness, usage behaviour, platform preferences, and perceived convenience of digital payment systems among undergraduate students in Mumbai. The study employs a descriptive-analytical research design based on primary data collected via a structured questionnaire administered to 121 undergraduate students via convenience sampling. Data were analysed using descriptive statistics and inferential tools, including chi-square tests, Spearman's rank correlation, and a one-sample t-test, to examine associations between awareness, usage patterns, demographic variables, and perceptions of convenience. UPI-based platforms dominate usage, with Google Pay emerging as the most preferred application. Speed of transactions, peer influence, ease of use, and security features significantly shape platform choice; however, they show no significant influence on usage behaviour. Students perceive digital payments as more convenient than cash transactions. The study highlights that digital payments are part of student financial behaviour and contribute to advancing digital financial inclusion. The findings offer practical implications for fintech providers and policymakers to design student-centric digital payment solutions, thereby strengthening India’s evolving digital payment ecosystem.