Digital Transactions and User Trust: A Conceptual Study on Mobile App Convenience and Security in A Cashless World

Google Pay, Paytm, and PhonePe, among others, have been attempting to bring the country a step closer to a cashless economy in India. Perceptions of convenience and security, to a great degree, drive the adoption of these platforms because they are widely used. For urban mortgage app users, mobile payment apps provide convenience, and given the massive adoption numbers these apps have accumulated, the convenience has prompted rural and older demographics to consider them, but security is still a major concern. The first part of this paper looks at mobile payment platforms in terms of perceived convenience and security, and socio-economic and regional disparities in mobile payment adoption, and will identify key drivers of user trust. Results and findings of the studies are evaluated using case studies and secondary data. It also looks at the role that government is playing with the help of initiatives, the regulatory frameworks, and technological advancements to achieve the current, as well as the future, landscape of digital payments in India.