An Analysis of Consumer Perception towards FinTech Adoption in Bangalore: The Impact of Demonetization on Payment Services with a focus on Google Pay

Abstract

The study "An Analysis of Consumer Perception Towards FinTech Adoption in Bangalore: The Impact of Demonetization on Payment Services with a Focus on Google Pay" aims to investigate the influence of demonetization on the adoption of FinTech solutions in India, specifically digital payment platforms like Google Pay. The research objectives include assessing the impact of demonetization, evaluating consumer perceptions and trust, comparing adoption trends between urban and rural areas, and identifying challenges and opportunities for FinTech growth. A quantitative approach was employed, surveying 102 participants aged 18 to 50 from both urban and rural areas of Bangalore. The findings revealed a significant positive relationship between demonetization and FinTech adoption, with 64.7% of respondents showing increased usage of digital payment platforms post-demonetization. Trust in security measures and higher educational attainment were also positively correlated with FinTech adoption and recommendations. The study concludes that demonetization catalyzed FinTech growth, particularly in urban areas, while highlighting the need to address barriers in rural regions to foster broader digital financial inclusion.