Dr.Rashmi Soni
Commerce
July 2024
In India, digital payments have been growing at an exponential rate; Indore has also seen this trend. It is projected that cashless transactions, made possible by digital payment methods like internet banking, smartphones, and card purchases, will fuel Indore's economy in the future. This digital shift, notably in Indore, has been greatly aided by the government of India's massive Digital India initiative and the upgrading of India Post. The dynamic relationship between customers and vendors in Indore with regard to digital payments is examined in this article, along with the behavioral shifts that have affected those interactions. The research centers on a sample size of 150 participants, which consists of 50 suppliers and 100 consumers, in order to offer a thorough understanding of the effects of digital payments. This research demonstrates how the introduction of digital payments has changed consumer preferences, purchasing patterns, and financial management by examining the transformative effects of technology, economic variables, and societal developments unique to Indore. In order to keep up with the shifting consumer market, it also looks at how vendors are adapting their strategy and operational changes. The study also discusses the benefits and problems brought about by these behavioral shifts, providing insightful information for Indore stakeholders hoping to successfully navigate and prosper in the digital payment era.
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