Barriers to cashless payment adoption

The cashless payment system has experienced significant growth within the banking industry due to its convenience and numerous benefits, which makes cashless payments more appealing to consumers than traditional cash transactions. Despite these advantages, customers face barriers that hinder the full adoption of cashless payment systems. At the same time, customer trust plays a vital role in the adoption process, with factors like reliability, transparency, security, privacy, and responsiveness in digital payment platforms. This research aims to examine the barriers and trust determinants of cashless payment adoption using a convenience sampling method with a sample size of 120 respondents from Kanyakumari District. The results indicate that security concerns, digital illiteracy, and inadequate infrastructure are the primary barriers, while privacy, security measures, responsiveness, and reliability are critical in building trust among users. The study suggests various measures such as improving infrastructure, enhancing security features, and educating customers to promote the growth and adoption of cashless payment systems. Addressing these barriers and enhancing the understanding of customer trust will foster the rapid growth and adoption of cashless payment systems.