OPJU Business Review

Research Articles

Vol. 5 No. 1 (2026): OPJU Business Review

Consumer perception and adoption of plastic money in India: An empirical study

DOI:
https://doi.org/10.63825/opjubr.2026.5.1.1004
Submitted
5 June 2026
Published
11 July 2026

Abstract

The emergence of plastic money has significantly transformed the payment behavior of consumers across the globe, including India. Rising disposable incomes, technological advancement in banking services, growth in the retail and tourism sectors, and the increasing adoption of digital financial systems have accelerated the use of debit and credit cards as alternatives to traditional cash transactions. This study examines consumer perception, acceptance, and usage patterns of plastic money among Indian consumers. The research further investigates the major factors influencing customer attitudes toward plastic money and identifies the benefits and challenges associated with its usage. The study is primarily based on empirical data collected from 212 respondents through a structured questionnaire. The findings reveal that convenience, speed of transactions, portability, and ease of use are the major factors encouraging consumers to adopt plastic money. However, concerns regarding security, card loss, and transaction-related risks continue to influence consumer confidence. The study concludes that while plastic money is increasingly becoming a preferred mode of payment in India, strengthening transaction security and consumer trust remains essential for wider adoption.

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