A study on digital payment impact on economy with special reference to Srivaikuntam Taluk in Thoothukudi district

Digital payments have transformed financial transactions, promoting efficiency, transparency, and economic growth. This study examines the impact of digital payments on the economy, with a special focus on Srivaikuntam Taluk in Thoothukudi district. The research analyzes digital payment awareness, usage patterns, preferred methods, frequency, and their effects on businesses and the economy. Findings reveal widespread awareness, with a majority favoring debit cards and UPI for transactions. Most respondents highlight convenience, increased business growth, and economic efficiency as key benefits, while challenges include transaction fees, technical failures, and cybersecurity concerns. The study suggests improvements in security, reduced fees, and enhanced accessibility to maximize digital payment adoption and economic benefits.