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International Journal of Scientific & Technology Research

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IJSTR >> Volume 9 - Issue 3, March 2020 Edition



International Journal of Scientific & Technology Research  
International Journal of Scientific & Technology Research

Website: http://www.ijstr.org

ISSN 2277-8616



CASHLESS TRANSACTIONS: OPPORTUNITIES AND CHALLENGES AMONGST MSME AT SIVAGANGA DISTRICT, TAMILNADU

[Full Text]

 

AUTHOR(S)

M.Seetha Lakshmi , Dr.R.Alamelumangai

 

KEYWORDS

Cashless transaction, digital economy, technology, e-Payment, and Demonetization.

 

ABSTRACT

Micro, Small and Medium Enterprises segment has developed as a highly effervescent and active part of the Indian economy. Improving the quality and upgrading the technology are the two vital parameters that have developed in the recent past. The Indian economy has witnessed the third-time demonetization process in the year 2016, which results in the need for cashless transactions. Therefore, the objective of this study is to identify the factors influencing suppliers and customers of MSMEs towards cashless transactions and to find out various challenges and opportunities associated with the implementation of the cashless policies in the MSME Sector in Sivaganga district, Tamilnadu. The responses were collected from 150 Proprietor/Managers of MSME in Sivaganga district, Tamilnadu. The data were analyzed using the percentages analysis, Chi-square test, and Analysis of variance (ANOVA). The study exposed that the cashless transaction amongst MSME in Sivaganga district, Tamilnadu is in the developing stage. Privacy and security, convenience were the factors which influence cashless transactions. The study shows that the suppliers and consumers don’t have enough awareness of information security in cashless transactions. Therefore, digital payments will take a long time to become a default payment option and this might benefit the economy in the future. The study recommends that MSME should start using digital payment methods which will serve a cashless economy.

 

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