A SEM ANALYSIS ON THE FACTORS INFLUENCING IN ADOPTION OF DIGITAL PAYMENT SYSTEM WITH REFERENCE TO MADURAI DISTRICT.”
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Abstract
A digital payment system is any financial transaction conducted online using electronic devices, such as a laptop, computer, or smartphone. The traditional banking system requires bank customers to physically visit the bank. Currency that is physically handled handling poses risks of theft, damage, exchange, and other issues. Alternative payment methods, also referred to as digital transactions, are crucial for avoiding dealing with the danger associated with actual currency. All retailers in both physical and online establishments adopted digital payment systems as a universally recognized form of payment. The very initial stage exposes the lending institution with unforeseen obstacles. using digital transactions. Even the residents of rural villages are sufficiently aware of electronic payment systems thanks to the Central Government and Reserve Bank of India's tireless efforts. The current study is titled "A SEM Analysis on the factors influencing in adoption of Digital Payment System with reference to Madurai District" because its main objective is to analyze the elements affecting the adoption of digital payment systems. The relationship between perceived usefulness and social influence, perceived ease of use and user-friendly transaction, perceived ease of use and trust, purpose of using digital transaction and perceived ease of use and purpose of using digital transaction and perceived is significant and positively associated with digital payment system.