Premalatha, Ida Grace, C. Samuel Joseph, Sunil Vakayil and H. Samuel Thavaraj
The Banking system in India, today plays a crucial role in the development of an economy. Despite stability, the sector has been facing significant challenges particularly after adaptation of technology and competition from new age fintech companies. In the last few yearâÂÂs India has seen a substantial growth in usage of plastic currency. The Digital revolution has made many consumers in the recent past in switching to digital means to conduct transactions through virtual channels quickly. India has taken a firm decision to see its people engaging in digital transactions to send and receive money. The authorâÂÂs chose to investigate the usage behavior and explore dimensions of perceptions that influence the Generation Z (who are tech-savvy clientele,) to move or not to move towards digital payments, along with the perceived benefits and risks. The analysis of the perception of the userâÂÂs signals that ATM cum Debit Card being the one which has been mostly used, Dresses & Apparels are the most common spending by the respondents using digital modes. No stable internet connectivity tops the major risk. Convenience being the prime reason for switching to the technology for payments. The authors also articulate the Managerial Implications and scope for further research.