Digital payment increases among young adults

Saturday, 30 SEPTEMBER 2023 | PNS | DEHRADUN

The use of digital payments among young adults has increased notably. Media reports highlight that digital payments have become more prevalent among young adults in comparison to other age groups. Many individuals, particularly young adults, cite ease of access and time-saving as the primary factors influencing their adoption of digital payment methods.

A local resident, Vaibhav Kathait said that the Covid-19 pandemic has brought about significant changes in the lives of individuals. One such change is the widespread shift towards digital payment modes.  Individuals use digital payments even for small transactions. The convenience of easy access, elimination of the need to carry physical currency and time-saving capabilities are the key factors motivating their choice to opt for digital payment methods.

Another local resident, Satinder Uniyal said that his son possesses comprehensive knowledge of digital payments and is responsible for recording and conducting all business transactions digitally. The advent of digital payments has significantly transformed the lives of individuals by providing easy access to various resources and eliminating the need for physical currency. This convenience has particularly appealed to the younger generation, which is highly motivated to embrace digital payment methods, he added.

Assistant general manager of Uttarakhand Gramin Bank, Krishna Mohan Sharma said, “The widespread ownership of smartphones has further accelerated the adoption of digital payments. The ease of access, currency-free transactions and time-saving benefits has led people to prefer digital payments over cash. While it is true that the age group between 18 and 30 currently dominates digital payments, it is expected that individuals aged 50 and above will also transition to digital payment modes in the near future.”  

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