A STUDY ON IMPACT OF MOBILE PAYMENT WITH SPECIAL REFERENCE TO YOUTHS

Abstract

The rapid growth of mobile payment technology has significantly transformed the way people conduct financial transactions, particularly among the younger generation. This study examines the impact of mobile payment systems with special reference to youths, focusing on their adoption, usage patterns, benefits, and challenges. The increasing availability of smartphones, affordable internet services, and secure digital payment platforms has encouraged young users to shift from traditional cash-based transactions to digital payment methods. The research explores the factors influencing the acceptance of mobile payments, including convenience, speed, ease of use, security, promotional offers, and trust in digital platforms. It also investigates the role of mobile payment applications in shaping the spending habits, financial management, and purchasing behavior of youths. Primary data collected through questionnaires and secondary data obtained from journals, reports, and reliable online sources are analyzed using appropriate statistical techniques to identify significant trends and relationships. The findings are expected to demonstrate that mobile payment systems have a positive influence on the financial lifestyle of young consumers by promoting cashless transactions, improving transaction efficiency, and enhancing financial inclusion. However, concerns related to cybersecurity, privacy, internet dependency, and digital literacy continue to affect user confidence. The study concludes by providing recommendations for financial institutions, mobile payment service providers, and policymakers to improve security, increase awareness, and encourage the responsible use of mobile payment technologies among youths. Overall, the research contributes to a better understanding of the growing importance of digital payment systems in the lives of young consumers and their role in supporting the development of a digital economy.