AN EMPIRICAL EVALUATION ON IDENTIFICATION OF FREQUENTLY PERFORMED DIGITAL FINANCIAL TRANSACTIONS IN VISAKHAPATNAM CITY

1Dr. V.V.Devi Prasad Kotni, Mr. Ashok Botta

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Abstract:

The concept of “Digital Financial Services” is very important for the community as they enhance security for money and they are much expedient in contrast to maintaining cash at home or travelling with it. The stipulation of digital finance, however, engrosses the involvement of different stakeholders/players like mobile network operators, banks, financial institutions, chains of retailers and clients, regulators, agents, financial technology providers etc. The various digital financial platforms include Mobile Wallets, e-Wallets, Online Banking, Card Payments, UPI etc. In India, after demonetization of currency in the year 2016 the public started performing digital financial transactions from day-to-day financial transactions to short term and long term financial needs. This paper examines about the most frequently performed digital financial transactions in Visakhapatnam city so that the digital financial service providers can concentrate more on those transactions in order to give quick and quality service to the customers.

Keywords:

Digital Finance, Digital Financial Transaction, Digital Financial Literacy, eWallets, Cashless Transactions.

Paper Details
Month5
Year2020
Volume24
IssueIssue 6
Pages8836-8846