Factors Affecting the Adaptability of Digitalized mode of Payment among the Small Traders: A Logit Model Analysis
Polakshi Bhattacharyya Baruah, Anupam Dutta
Abstract: Digitalization has gained momentum in recent years in all sphere of life around the globe. It has become an important factor of defining modernization, and instrumental in speeding up economic growth by ensuring more transparency. After demonetization and emphasis on cashless transaction, digitalized mode of payment is being prioritized. Accordingly, government of India launched several schemes focusing on imparting training on digital literacy, but research shows that a section of population is still not adopting this digitalization process. This study tries to find the factors responsible for excluding a section of the people, especially the people of rural and semi urban area from this digitalized system. Accordingly, a survey was conducted with the bamboo craft man of Raipur cluster of Barpeta District of Assam, India, who is involved in small enterprises involving bamboo crafting. Direct interaction was being done with the respondents regarding the various problems and inconvenience faced in adapting the new system. A logit regression model has been used to highlight the impact of various socio-economics factors, level of awareness about the new system of digitalization on their adaptability to the digitalized mode of payment.