Infrastructure Availability to Support Digital Payment System in Rural India

Abstract

Digital technology has revolutionized financial transactions worldwide, but rural India is hesitant to accept. This study examines rural Punjab digital payments to discover adoption difficulties and potential. Digital payments are growing, but they confront several challenges. Lack of internet, financial knowledge, and cultural change reluctance are big hurdles. Digital India and other government programs can boost digital infrastructure and financial literacy. Financial institutions and tech companies should cater to rural areas. Policymakers, financial institutions and technology providers can apply this study's recommendations to boost rural digital payment uptake and efficiency. The study stresses constant involvement with rural residents to learn their needs and preferences. Infrastructure improvement help close urban-rural digital payment adoption gaps. Government, financial institutions, and tech companies must collaborate to accelerate the digital payment revolution and make financial services more accessible to rural areas.