Why do people use mobile payment technologies and why would they continue? An examination and implications from India.

Mobile payment technologies are spreading rapidly across the world. Whether they are mobile-based wallets, like Paytm, or payment apps, like PhonePe and GooglePay, or cards-based technologies, like debit and credit cards, interest in them has grown significantly, along with what is called the “FinTech” industry. Despite all the interest, investment, and news about cutting edge technologies, digital payments use in developing countries remains low. This is of particular concern in countries like India, where such technologies have the potential to improve financial inclusion.