Impact of Mobile Banking Platforms Paytm and Google Pay on Financial Inclusion in Rural and Semi-Urban Areas in India

Q3 Economics, Econometrics and Finance

Afro-Asian Journal of Finance and Accounting Pub Date : 2023-10-28 DOI:10.53819/81018102t4205

Amanpreet S. Patel

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引用次数: 0

Abstract

This study aimed to investigate the impact of mobile banking platforms, specifically Paytm and Google Pay, on financial inclusion in rural and semi-urban areas in India. The study was motivated by the fact that there had been limited access to formal financial services in these regions, resulting in financial exclusion and diminished economic development. Utilizing a mixed-methods approach, the study combined surveys of 1,200 households, focus group discussions, and interviews with local financial institutions. Findings revealed significant improvement in financial inclusion. Approximately 72% of surveyed households indicated increased ease in carrying out financial transactions, including savings, remittances, and bill payments, using Paytm and Google Pay. Furthermore, local businesses reported a 35% increase in revenue, attributing it to simplified payment processes. Additionally, a 40% decrease in cash-based transactions was observed, which has implications for reducing fraud and increasing transparency. However, the study also identified challenges such as lack of internet connectivity and digital literacy, which acted as barriers to adoption for 28% of surveyed households. The study concluded that mobile banking platforms like Paytm and Google Pay have had a profound and largely positive impact on financial inclusion in rural and semi-urban areas in India. Despite existing barriers, the adoption of these platforms has facilitated easier and more secure financial transactions, contributing to increased economic activities in these areas. Recommendations include launching government-backed digital literacy programs and public-private partnerships for expanding internet infrastructure. Future studies should also consider evaluating the long-term sustainability of these platforms in fostering financial inclusion and exploring the possibility of integrating additional services like insurance and loans. Keywords: Financial Inclusion, Mobile Banking, Rural and Semi-Urban Areas, Paytm, Google Pay

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移动银行平台Paytm和Google Pay对印度农村和半城市地区普惠金融的影响

本研究旨在调查移动银行平台，特别是Paytm和Google Pay对印度农村和半城市地区金融包容性的影响。这项研究的动机是，这些地区获得正规金融服务的机会有限，导致金融排斥和经济发展减弱。该研究采用混合方法，对1200户家庭进行了调查，重点小组讨论，并与当地金融机构进行了访谈。调查结果显示，金融包容性显著改善。大约72%的受访家庭表示，使用Paytm和Google Pay进行金融交易(包括储蓄、汇款和账单支付)变得更加容易。此外，当地企业报告称，由于简化了支付流程，收入增长了35%。此外，观察到现金交易减少了40%，这对减少欺诈和提高透明度具有重要意义。然而，该研究也发现了诸如缺乏互联网连接和数字素养等挑战，这些挑战阻碍了28%的受访家庭采用互联网。该研究得出的结论是，Paytm和Google Pay等移动银行平台对印度农村和半城市地区的金融包容性产生了深远而积极的影响。尽管存在障碍，但这些平台的采用促进了更容易和更安全的金融交易，有助于增加这些地区的经济活动。建议包括启动政府支持的数字扫盲项目和扩大互联网基础设施的公私合作伙伴关系。未来的研究还应考虑评估这些平台在促进普惠金融方面的长期可持续性，并探索整合保险和贷款等附加服务的可能性。关键词:普惠金融，移动银行，农村和半城市地区，Paytm, Google Pay

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来源期刊

Afro-Asian Journal of Finance and Accounting Economics, Econometrics and Finance-Finance

CiteScore

0.70

自引率

0.00%

发文量

期刊介绍： Finance and accounting are seen as essential components for the successful implementation of market-based development policies supporting economic liberalisation in the rapidly emerging economies in Africa, the Middle-East and Asia. AAJFA aims to foster greater discussion and research of the development of the finance and accounting disciplines in these regions. A major feature of the journal will be to emphasise the implications of this development and the effects on businesses, academics and professionals. Topics covered include: -Asset pricing, corporate finance, banking; market microstructure -Behavioural and experimental finance; law and finance -Emerging economies: finance, audit committees, corporate governance -Islamic finance, accounting and auditing -Equity analysis and valuation, venture capital and IPOs -National GAAP and IASs compliance, harmonisation and strategies -Financial measurement/disclosure, and the quality of information reported -Accountability and social/ethical/environmental measurement/reporting -Cultural, political, institutional impact on financial measurement/disclosure -Accounting practices for intellectual capital and other intangible assets -Provision of non-audit services and impairment to auditor independence -Audit quality and auditor skills; internal control/auditing -Management accounting, control and /use of key performance indicators -Accounting education and professional development, accounting history -Public sector and not-for-profit accounting