Authors: Research Scholar Jigar K. Joshi, Associate Professor Dr. Pushpkant Shakdwipee
Abstract: The proliferation of mobile connectivity throughout semi-urban Maharashtra has radically transformed the adoption of digital payments in recent years. Through a mixed-method approach integrating both quantitative surveys and qualitative interviews, this study aims to analyze how the rise of mobile technology has directly influenced various financial transactions. The findings reveal that an overwhelming majority, 87.5% of consumers, now own smartphones, with 76.8% actively using at least one digital payment platform regularly. Small retailers who have adopted mobile payments themselves reported a significant 42% increase in the frequency of transactions being conducted. However, ongoing security concerns continued to hamper 34.2% of customers, while unstable cellular networks disrupted 45.1% of attempted payments. A comparative analysis with other verified research highlights how a reliable mobile infrastructure can vastly improve financial inclusion across India, yet trust issues, gaps in digital literacy, and the ongoing frustration of transaction failures remain key adoption challenges moving forward. The policy recommendations resulting from this study include strengthening financial education initiatives, focusing efforts on improving mobile network reliability nationwide, and finding ways to further incentivize small retailer participation in digital payments. Addressing these lingering barriers through targeted fintech innovations and supportive regulatory measures will be crucial toward cultivating sustainable digital financial ecosystems able to serve all citizens.
DOI: http://doi.org/10.61463//ijnrefm.vol.3.issue3.101
