Impact of M-Payment on Business Performance of Street Vendors in Bengaluru

This study explores the mobile payment (M-payment) adoption and consequences among street vendors in Bengaluru. This study provides insights for the street vendors to continue their venture operations to compete with the technologically advanced environment. This research study, grounded in empirical data collected from an offline survey of 50 M-payment street vendor users, offers valuable theoretical and practical insights. The study's findings have significant theoretical and practical implications, notably for understanding critical user-centric aspects influencing M-payment adoption. Secondary information was acquired from published journal articles, online databases, reference books, newspapers, and websites, while primary data was collected through a structured questionnaire using survey and interview methodologies. The study identified key factors affecting M-payment usage among street vendors in Bengaluru. Findings indicate that technical issues, high transaction costs, lack of awareness of usage, trust, and knowledge of banking transactions negatively impact M-payment adoption among these vendors. While the majority of street vendors use M-payment, the segment still prefers cash transactions due to a lack of awareness and trust concerns. Observations indicate that digital payments have not noticeably impacted business performance. This demonstrates that while M-payment methods have provided payment convenience, but did not contribute to business improvement.