Challenges faced in the implementation of cashless payment system

Abstract

Our methodology for the project includes general contextual study and standard research techniques followed. They are • Primary research/ problem identification • Secondary research • Hypothesis/ survey formulation • Analysis and discussion. Problem identification: The research study for our project “Payment and cards in e commerce/ m commerce” started with literature review of journals like MIS quarterly and other journals to study about the general technological infrastructure involved in this industry. The supply chain of the cashless/ online payment was studied and the key stakeholders at each stage of the payments are identified. Some of the key challenges in the implementation for different segments are identified. Some of the key challenges that were identified are the complexness involved in the technology used, awareness of people, tax concerns, and traceability of the transaction and lack of infrastructure. Among these the target segment was narrowed down to segment of kirana stores which refers to small – medium retail shop owners. Problem statement is defined as “To identify the challenges in adoption of cashless payments by kirana stores and suggest recommendations accordingly”.