A Study on Consumer Preference towards Selected Digital Payment Mechanisms

In today’s modern commercial operations, a plethora of payment options are offered for the purchase and sale of goods and services. Several service providers have developed a multitude of apps and wallets over time that allow users to pay and accept payments from each other as well. A user can instantaneously pay from any location at any time without physically being present in a bank branch. The paper makes an effort to pinpoint the methods of payment that have become the most prominent for digital banking - a study in Jaipur city and the researcher has made use of both primary and secondary data. The primary information was gathered through a self-constructed questionnaire distributed to the Digital Banking users of the Jaipur city. Secondary information was collected from various websites, news articles, magazines, and other sources. One of the major changes in economic environment is by demonetizing the high value currency notes of – Rs 500 and Rs 1000 from 8th November 2016 and try to make India as cashless economy. Therefore, the paper highlights the most prominent digital payment method which is used by the digital banking users.