Going Cashless Easy or Challenging? Exploring Uncharted Facets of Digital Payments: A Mixed-Methods Approach

Abstract Subject and Purpose of Work This study examines the adoption of digital payment (DP) among students, focusing on reasons for use and their impact on expenditure and financial behavior. Materials and Methods A mixed-method approach was adopted. Quantitative data from 192 college and university students were analyzed using descriptive statistics, while qualitative insights from 30 respondents provided deeper understanding. Results Findings reveal a strong inclination toward DP in students’ consumption patterns. Demonetization and the Covid-19 pandemic acted as major drivers of adoption. Qualitative results further clarified the motivations and challenges associated with DP usage. Conclusion The study highlights the need for DP providers to enhance user-friendly features and address existing issues. Integration of AI and blockchain can foster innovation, while financial management education can strengthen responsible adoption among young users.