A STUDY OF CUSTOMER'S PREFERENCE TOWARDS MODES OF MODERN PAYMENT SYSTEMS IN RURAL AREAS NEAR SAGAR, MADHYA PRADESH

Abstract

This research paper examines the preferences of customers towards modern payment systems in rural areas near Sagar, Madhya Pradesh. The study aims to understand the adoption patterns, challenges, and factors influencing the use of digital payment methods in these regions. A mixed-method approach, including surveys and interviews, was employed to collect data from 500 participants across 10 villages. The findings reveal that while there is a growing interest in digital payment systems, significant barriers such as lack of infrastructure, digital literacy, and security concerns persist. The study provides insights into the current state of digital payment adoption in rural India and offers recommendations for policymakers and financial institutions to enhance financial inclusion through modern payment systems. Keywords: Digital payments, Rural India, Financial inclusion, Customer preferences, Madhya Pradesh.