Digital payments have transformed the financial behavior of individuals by making transactions faster, easier, and more convenient. The growth of Unified Payments Interface (UPI), mobile wallets, internet banking, and QR-code-based systems has significantly changed the way people manage money. This research paper studies the impact of digital payment systems on individual financial behavior, including spending habits, saving patterns, budgeting practices, and financial awareness.

 

The study is based on both primary and secondary data. Primary data was collected through structured questionnaires from respondents in Pune city. The findings reveal that digital payments increase convenience and encourage cashless transactions. However, excessive ease of spending through digital platforms also leads to impulsive purchases among some users. The study concludes that digital payment systems positively influence financial inclusion and financial management, but there is also a need for greater financial literacy and cybersecurity awareness.

Keywords: Digital Payments, UPI, Financial Behaviour, Cashless Economy, Mobile Wallets, Financial Awareness