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Cashless Confidence: Exploring the Influence of Digital Payments on Gen Z Consumption Patterns
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Author(s): Yuvraj Singh Shergill (Christ University, Bangalore, India), Raj Singh (Christ University, Bangalore, India), H. J. Prajwal (Christ University, Bangalore, India)and Shaeril Almeida (Christ University, Bangalore, India)
Copyright: 2026
Pages: 28
Source title:
Integrating Digital Public Infrastructure in Emerging Economies
Source Author(s)/Editor(s): Sherif Mohamed A. Ismail (American University in Cairo, Egypt), Lyudmyla Symochko (University of Coimbra, Portugal), Mohammad Israr (Maryam Abacha American University, Nigeria)and Ajay B. Gadicha (College of Engineering and Management Amravati, India)
DOI: 10.4018/979-8-3373-6380-6.ch006
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Abstract
The rapid growth of digital payment systems has significantly changed financial behaviors, especially among Generation Z. This group consists of digital natives whose buying habits are closely linked to technology. Using qualitative thematic analysis, which identifies common themes in qualitative data, this research reviews various studies and reports on financial technology adoption. It looks at how mobile wallets, UPI platforms, QR-based payments, and new fintech solutions affect Gen Z's spending habits, views on money, and financial choices in India. Drawing from existing literature, empirical research, and theories like behavioral economics and the Technology Acceptance Model (TAM), the paper brings together evidence on the psychological, social, and cultural factors behind digital payment adoption. The findings show that ease of use, peer influence, gamification features, and social media-driven consumption greatly motivate Gen Z to use cashless transactions. However, these same factors may lead to risks such as impulsive buying, accumulating debt through Buy Now Pay Later (BNPL) services, and privacy issues. Gender dynamics, urban-rural divides, and differences in financial literacy further complicate these trends. Meanwhile, digital platforms are promising for improving financial management through budgeting tools and investment apps. The paper concludes that digital payments are not just replacing cash; they are transforming financial identities, consumption culture, and intergenerational attitudes toward money. Insights from this study have important implications for policymakers, financial institutions, and educators looking to promote responsible, inclusive, and sustainable digital payment systems for the future economy.
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