V2I8P17

Factors Influencing Vendors’ Behavioural Intentions to Use Digital Payments

Rakesh Chakravarthi T^1*, Dr. Geetha Joshi²

Abstract

This research examines the behavioural beliefs of marginalized street vendors in Bangalore, India, towards adopting electronic payment systems in the face of the country’s shift to a cashless economy. Grounded in theoretical models including the Technology Acceptance Model (TAM), Theory of Planned Behaviour (TPB), and Unified Theory of Acceptance and Use of Technology (UTAUT), the study uses an empirical quantitative approach. Data was collected from 182 vendors through structured questionnaires and analyzed with the help of SPSS and SmartPLS. The results indicate that customer expectations, effort expectancy, performance expectancy, and peer influence play significant roles in the adoption of digital payments. Of these, customer expectations were found to be the strongest factor. Other factors such as considerations for costs and facilitating conditions had a weaker but supportive influence. The research offers actionable recommendations for policymakers and stakeholders to develop inclusive digital solutions, improve digital literacy, and support peer-led interventions. It also creates avenues for further research in more extensive geographic and socio-economic contexts to enable the expansion of financial inclusion in developing economies.

Keywords:

Digital payment adoption; street vendors; Technology Acceptance Model; financial inclusion; behavioural beliefs