Adaptation of Digital Payment System among Rural Consumers in Enhancing the Performance of the MFI

Abstract

This research investigates the integration of digital payment systems among rural consumers to enhance the performance of microfinance institutions in Thanjavur district. The findings reveal a significant acceptance of digital payment systems by both Microfinance Institutions (MFIs) and their consumers, highlighting the ease of use and suitability of these systems. Moreover, various facilities such as Automated Teller Machines (ATMs), internet payments, debit and credit cards, and mobile apps are gaining traction. This underscores the urgency for financial institutions to further promote digital access in rural areas and improve their performance while empowering consumers with effective financial knowledge.