Authors

1. Dr. Sheenu Jain
2. Dr. Swati Soni

Affiliation

• AGM, Marketing & Communication, Jaipur Rugs, Jaipur
• Associate Professor, Marketing, Jaipuria Institute of Management, Jaipur

Abstract

The Indian economy witnessed an unprecedented event on 8 November, 2016-Demonetization,
wherein the higher denomination currency ceased to be in force. The initiative nullified around 86% of
the currency and converted it into a legal, bankable, and taxable part of the Indian economy. A 50 day
period was announced as a transit period where the older currency could be deposited in the banks
or exchanged for new. Till the time the new currency could expand in circulation, there were a number
of problems that citizens faced as cash transaction is a way of life in India. Nonetheless, the move
proved to be a major disruption in changing and molding behaviors and India took to digitization
cashless transactions, digital wallets and the like.
In the given context, the study attempts to explore the digital payments behavior of B-School
students in the city of Jaipur. The study proposes to study the change in behavior, the preferred
platforms and instruments of digital payments, the usage occasions and the reasons for resistance
for going digital. As an outcome, the authors make recommendations to ease the process of
digitization of payments and provide a seamless, integrated and frictionless experience to the
customers.

Keywords

Digital Payments, Demonetization, PSPs (Payment Service Providers), Digital Wallets

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