{"id":22523,"date":"2025-03-18T21:18:28","date_gmt":"2025-03-18T15:48:28","guid":{"rendered":"http:\/\/www.sachdevajk.in\/?p=22523"},"modified":"2025-03-18T21:18:28","modified_gmt":"2025-03-18T15:48:28","slug":"impact-of-digital-payment-on-students-spending","status":"publish","type":"post","link":"http:\/\/www.sachdevajk.in\/?p=22523","title":{"rendered":"Impact of Digital Payment on Students Spending"},"content":{"rendered":"

Impact of\u00a0<\/span>Digital Payment on Students Spending<\/span><\/p>\n

Authors:\u00a0<\/span><\/span>Omkar Gawde<\/span><\/span>,\u00a0<\/span><\/span>Mayur Dubule<\/span><\/span>\u00a0&<\/span><\/span>\u00a0<\/span><\/span>Sahil Gaware<\/span><\/span><\/p>\n

\u00a0<\/span><\/p>\n

Introduction<\/span><\/span>:<\/span><\/span><\/p>\n

In recent years, digital payment systems have revolutionized financial transactions, offering convenience, speed, and security. Students, being early adopters of technology, have embraced digital payments through mobile wallets, UPI, and contactless cards. This shift has significantly influenced their spending behavior, leading to increased financial independence and impulsive purchasing patterns.<\/span><\/span><\/p>\n

The ease of transactions, cashback offers, and seamless integration with e-commerce and food delivery platforms have made digital payments a preferred choice among students. However, this convenience also raises concerns about overspending, reduced financial discipline, and lack of awareness about budgeting. Understanding the impact of digital payments on students’ financial habits is crucial for promoting responsible spending and financial literacy.<\/span><\/span><\/p>\n

\u00a0<\/span><\/p>\n

Objective:<\/span><\/span><\/p>\n

To analyse the impact of digital payments on students’ spending behaviour, financial discipline<\/span><\/span>.<\/span><\/span><\/p>\n

\u00a0<\/span><\/p>\n

Literature Review:<\/span><\/span><\/p>\n

The Influence of Digital Payments on Consumer Behavior<\/span><\/span><\/p>\n

Chamlongrath<\/span><\/span>, et al (2021) stated p<\/span><\/span>revious studies suggest that digital payment methods significantly impact consumer spending habits. Research by Smith et al. (2022) highlights that cashless transactions reduce the psychological resistance to spending, leading to impulsive purchasing behavior. Additionally, digital wallets and credit cards provide convenience, but they may also encourage financial mismanagement, especially among young consumers<\/span><\/span><\/p>\n

\u00a0<\/span><\/p>\n

Influence of Digital Payments and Financial Pressure on Student Spending<\/span><\/span><\/p>\n

Intan\u00a0<\/span><\/span>&\u00a0<\/span><\/span>Nugroho<\/span><\/span>\u00a0(2023) emphasized\u00a0<\/span><\/span>d<\/span><\/span>igital payments and financial pressures significantly impact student spending behavior. The ease of digital transactions often leads to increased consumption, while financial stressors contribute to impulsive purchases. However, research is often limited to specific years and disciplines, restricting broader insights. Expanding sample sizes, including diverse academic backgrounds, and refining measurement tools can provide a more comprehensive understanding. Promoting financial awareness can also help students manage spending more effectively.<\/span><\/span><\/p>\n

\u00a0<\/span><\/p>\n

Data Collection:<\/span><\/span><\/p>\n

For the above problem we framed 5 question<\/span><\/span>s<\/span><\/span>\u00a0on the Likert Scale and we<\/span><\/span>\u00a0approached 100 students of KBS with google form. With the answers\u00a0<\/span><\/span>strongly agree, agree, neutral, disagree and strongly disagree. They were coded as 5,4,3,2<\/span><\/span>and 1. So that hypothesised mean is 3.<\/span><\/span>\u00a0<\/span><\/span>Also,<\/span><\/span>\u00a0for each question\u00a0<\/span><\/span>mean, standard deviation, standard error and z \u2013 scores were calculated. The questions were as follows:<\/span><\/span><\/p>\n

1<\/span><\/span>.\u00a0<\/span><\/span>Digital payments help students track spending.<\/span><\/span><\/p>\n

2.<\/span><\/span>\u00a0UPI and wallets increase spending on non-essentials.<\/span><\/span><\/p>\n

3.<\/span><\/span>\u00a0<\/span><\/span>Refund delays cause financial issues for students.<\/span><\/span><\/p>\n

4.<\/span><\/span>\u00a0<\/span><\/span>Cashless payments feel more convenient than cash.<\/span><\/span><\/p>\n

5.<\/span><\/span>\u00a0<\/span><\/span>Online payment risks concern students.<\/span><\/span><\/p>\n

\u00a0<\/span><\/p>\n

Data Analysis:<\/span><\/span><\/p>\n\n\n\n\n\n\n\n\n
\n
\n

Column1<\/span><\/p>\n<\/div>\n<\/td>\n

\n
\n

Q1<\/span><\/p>\n<\/div>\n<\/td>\n

\n
\n

Q2<\/span><\/p>\n<\/div>\n<\/td>\n

\n
\n

Q3<\/span><\/p>\n<\/div>\n<\/td>\n

\n
\n

Q4<\/span><\/p>\n<\/div>\n<\/td>\n

\n
\n

Q5<\/span><\/p>\n<\/div>\n<\/td>\n<\/tr>\n

\n
\n

Mean<\/span><\/p>\n<\/div>\n<\/td>\n

\n
\n

3.37<\/span><\/p>\n<\/div>\n<\/td>\n

\n
\n

3.56<\/span><\/p>\n<\/div>\n<\/td>\n

\n
\n

3.4<\/span><\/p>\n<\/div>\n<\/td>\n

\n
\n

3.41<\/span><\/p>\n<\/div>\n<\/td>\n

\n
\n

3.42<\/span><\/p>\n<\/div>\n<\/td>\n<\/tr>\n

\n
\n

SD<\/span><\/p>\n<\/div>\n<\/td>\n

\n
\n

1.34<\/span><\/p>\n<\/div>\n<\/td>\n

\n
\n

1.42<\/span><\/p>\n<\/div>\n<\/td>\n

\n
\n

1.31<\/span><\/p>\n<\/div>\n<\/td>\n

\n
\n

1.33<\/span><\/p>\n<\/div>\n<\/td>\n

\n
\n

1.33<\/span><\/p>\n<\/div>\n<\/td>\n<\/tr>\n

\n
\n

SE<\/span><\/p>\n<\/div>\n<\/td>\n

\n
\n

0.13<\/span><\/p>\n<\/div>\n<\/td>\n

\n
\n

0.14<\/span><\/p>\n<\/div>\n<\/td>\n

\n
\n

0.13<\/span><\/p>\n<\/div>\n<\/td>\n

\n
\n

0.13<\/span><\/p>\n<\/div>\n<\/td>\n

\n
\n

0.13<\/span><\/p>\n<\/div>\n<\/td>\n<\/tr>\n

\n
\n

Z<\/span><\/p>\n<\/div>\n<\/td>\n

\n
\n

2.75<\/span><\/p>\n<\/div>\n<\/td>\n

\n
\n

3.94<\/span><\/p>\n<\/div>\n<\/td>\n

\n
\n

3.06<\/span><\/p>\n<\/div>\n<\/td>\n

\n
\n

3.08<\/span><\/p>\n<\/div>\n<\/td>\n

\n
\n

3.17<\/span><\/p>\n<\/div>\n<\/td>\n<\/tr>\n

\n
\n

Result<\/span><\/p>\n<\/div>\n<\/td>\n

\n
\n

Positive<\/span><\/p>\n<\/div>\n<\/td>\n

\n
\n

Positive<\/span><\/p>\n<\/div>\n<\/td>\n

\n
\n

Positive<\/span><\/p>\n<\/div>\n<\/td>\n

\n
\n

Positive<\/span><\/p>\n<\/div>\n<\/td>\n

\n
\n

Positive<\/span><\/p>\n<\/div>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

\u00a0<\/span><\/p>\n

Conclusion:<\/span><\/span><\/p>\n

1.\u00a0<\/span>Digital payments help students track spending \u2192 Students find digital payments beneficial for managing and tracking their expenses.\u00a0<\/span><\/span><\/div>\n
2.\u00a0<\/span>UPI and wallets increase spending on non-essentials \u2192 Easy access to digital payments leads students to spend more on non-essential items.\u00a0<\/span><\/span><\/div>\n
3.\u00a0<\/span>Refund delays cause financial issues for students \u2192 Delays in refunds create financial difficulties for students who rely on timely reimbursements.\u00a0<\/span><\/span><\/div>\n
4.\u00a0<\/span>Cashless payments feel more convenient than cash \u2192 Students prefer cashless payments due to their ease and convenience.\u00a0<\/span><\/span><\/div>\n
5.\u00a0<\/span>Online payment risks concern students \u2192 Students are aware of and concerned about the risks associated with online transactions.<\/span><\/span><\/div>\n

References:<\/span><\/span><\/p>\n

Chamlongrath, Wichitra, and Chark Tingsabhat. \u201cThe Payment Behavior and Electronic Payments Usage of University Students.\u201d (2021).<\/span><\/span><\/p>\n

Intan Aprilia, & Nugroho, D. S. (2023). The Influence of Digital Payments and Financial Stressors on Consumptive Behavior of MNC University Students.\u00a0<\/span><\/span>The Es Accounting And Finance<\/span><\/span>,\u00a0<\/span><\/span>1<\/span><\/span>(03), 143\u2013149. https:\/\/doi.org\/10.58812\/esaf.v1i03.102<\/span><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

Impact of\u00a0Digital Payment on Students Spending Authors:\u00a0Omkar Gawde,\u00a0Mayur Dubule\u00a0&\u00a0Sahil Gaware \u00a0 Introduction: In recent years, digital payment systems have revolutionized financial transactions, offering convenience, speed, and security. Students, being early adopters of technology, have embraced digital payments through mobile wallets, UPI, and contactless cards. This shift has significantly influenced their spending behavior, leading to increased… Continue reading Impact of Digital Payment on Students Spending<\/span><\/a><\/p>\n","protected":false},"author":139808,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-22523","post","type-post","status-publish","format-standard","hentry","category-uncategorized","entry"],"_links":{"self":[{"href":"http:\/\/www.sachdevajk.in\/index.php?rest_route=\/wp\/v2\/posts\/22523","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/www.sachdevajk.in\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/www.sachdevajk.in\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/www.sachdevajk.in\/index.php?rest_route=\/wp\/v2\/users\/139808"}],"replies":[{"embeddable":true,"href":"http:\/\/www.sachdevajk.in\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=22523"}],"version-history":[{"count":1,"href":"http:\/\/www.sachdevajk.in\/index.php?rest_route=\/wp\/v2\/posts\/22523\/revisions"}],"predecessor-version":[{"id":22524,"href":"http:\/\/www.sachdevajk.in\/index.php?rest_route=\/wp\/v2\/posts\/22523\/revisions\/22524"}],"wp:attachment":[{"href":"http:\/\/www.sachdevajk.in\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=22523"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/www.sachdevajk.in\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=22523"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/www.sachdevajk.in\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=22523"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}