Digital Payment Adoption Among Young Adults: A Case Study in Assam with special reference to College Students

Abstract

The rapid advancement of digital payment systems has transformed financial transactions, especially among young adults who are more technologically inclined. The adoption of digital payment systems has witnessed significant growth, particularly among young adults more adaptable to technological advancements. This study explores the usage patterns, challenges, and perceptions of digital payments among college students, the basic youth group in Assam. The research is based on an online survey conducted using a Google Form among students, with 92 respondents participating. The findings reveal that the majority of users belong to the age group of 19–21 years, indicating high engagement with online transactions. The study highlights key factors influencing digital payment adoption, including ease of use, internet connectivity, security concerns, and digital literacy. While students exhibit a positive inclination toward digital transactions, issues such as transaction failures, cyber threats, and lack of awareness among certain demographics pose challenges. The paper emphasizes the significance of improved digital infrastructure, awareness programs, and enhanced security measures to foster greater trust and efficiency in digital payment systems. The insights gained from this study can help policymakers and financial institutions design strategies to enhance digital financial inclusion among young adults.