A Study on Key Drivers and Deterrents in Digital Payment in the State Of Odisha

The state of Odisha, situated on the eastern coast of India, has been experiencing a gradual shift towards digital payment systems in recent years. This transition is emblematic of broader trends seen across India, where digital payment methods are increasingly preferred over traditional cash transactions. However, the adoption of digital payments in Odisha is influenced by a multitude of factors, both facilitating and inhibiting. Understanding these key drivers and deterrents is crucial for policymakers, businesses, and financial institutions to effectively promote and support the uptake of digital payment solutions in the state. This study aims to delve into these factors comprehensively, analysing socio-economic, technological, infrastructural, and cultural aspects that shape the digital payment landscape in Odisha. By identifying and understanding these drivers and deterrents, actionable insights can be derived to formulate strategies aimed at fostering a more inclusive and robust digital payment ecosystem in the state. The importance of researching the key drivers and obstacles in digital payment adoption in Odisha extends to its potential to provide valuable insights for policymakers, businesses, and consumers alike. India's shift towards a digital economy, propelled by initiatives like Digital India, underscores the relevance of understanding regional variations in digital payment adoption, influenced by diverse factors. This research holds significance as it enables policymakers to tailor interventions to Odisha's unique circumstances. Such targeted approaches could include awareness campaigns, infrastructure enhancements in underserved areas, or incentives to promote digital payment uptake. For businesses, especially those operating in Odisha, insights gleaned from this study can shape marketing strategies and product offerings to better align with consumer preferences regarding digital payments. Lastly, consumers stand to benefit from understanding the advantages of digital payments, such as convenience, security, and expanded service access. Addressing concerns like security apprehensions or lack of awareness can drive higher adoption rates, contributing to Odisha's digital economy growth. SPSS, or the Statistical Package for the Social Sciences, is a powerful tool for statistical analysis. With its user-friendly interface, it allows users to efficiently manage and manipulate data while performing advanced statistical procedures. SPSS supports a broad range of analyses, from basic descriptive statistics to complex methods like correlation, regression, ANOVA, and factor analysis. Its robust visualization features facilitate data understanding through various graphs and charts. Widely used in fields such as social sciences, market research, healthcare, and education, SPSS is essential for data-driven decision-making, hypothesis testing, and deriving insights from complex datasets. Its versatility and reliability make it an indispensable resource for research and data analysis. Input Parameters taken as Age, Gender, Monthly Income (INR), Education Level, Occupation, Access to Internet (Yes/No), Years of Experience with Digital Payments, Type of Digital Payment Used Most Often. Evaluation Parameters taken as Frequency of Digital Payment Usage (per week), Trust in Digital Payment Security, Convenience, Perceived Security, Ease of Learning, Availability of Acceptance Points, Speed of Transactions, Cost-effectiveness, Awareness of Options, Reliability, Influence of Social Circle