The Impact of Digital Payment Implementation on Consumer Behavior

Abstract

The revolutionary impact of digital payment systems on consumer behaviour is examined in this research report. This study aims to investigate the effects of vendor and consumer behavioural changes brought about by the increasing use of digital payment systems. In order to offer light on the changing dynamics of digital payments and its implications for many stakeholders, this research will examine consumer preferences, attitudes, and adoption patterns in addition to vendor experiences and obstacles. Consumer acceptance of digital payment options has increased significantly in recent years. These payment methods’ growing acceptance can be attributed in part to their accessibility, quickness, and ease of use. There are currently several options available to consumers, such as online banking, contactless payments, and mobile wallets. This study aims to illuminate these processes in order to offer useful information to consumers, companies, and regulators navigating the changing financial transaction landscape of the digital age.