THE ROLE OF TRUST, SECURITY, AND PERCEIVED RISK IN SHAPING DIGITAL PAYMENT SYSTEMS IN INDIA

Abstract

The landscape of the financial sector in India has been revolutionised as a result of the fast adoption of digital payment methods, which have offered increased convenience and accessibility. On the other hand, the widespread usage of these platforms is impacted by a variety of factors, including trust, security, and perceived risk, all of which play significant roles in determining the behaviour of consumers. The purpose of this study is to investigate the ways in which these factors influence the acceptability and expansion of digital payment systems in India. When it comes to evaluating user confidence and adoption rates, trust in the service providers, the security of transactions, and the perceived dangers associated with fraud or data breaches are all extremely important contributing factors. This study illustrates the problems and possibilities faced by stakeholders in the process of developing a digital payment ecosystem that is both safe and dependable. This is accomplished via an analysis of ways in which consumers perceive the system. This research highlights the relevance of resolving these problems by evaluating current trends and case studies. The goal of this research is to promote greater financial inclusion and ensure the sustainable expansion of digital payments in India.