Cashless economy: Awareness and adoption among university students in Kathmandu Valley

Abstract

The study aimed to evaluate the level of awareness regarding the cashless economy among university students in Kathmandu Valley, providing valuable findings on demographics, questionnaire reliability, item, and factor rank analysis, percentage analysis as well as the results of the t-test and Kruskal Wallis test. The majority of respondents in the study were male, with a significant proportion falling within the age range of 21 to 35. Most participants held a bachelor’s degree, and the largest segment reported a family income between 100,001 and 300,000 Nepalese Rupees. The questionnaire’s reliability was assessed using Cronbach’s alpha, revealing satisfactory internal consistency reliability for factors like perceived usefulness and perceived trust. Moderately reliable outcomes were observed for factors of perceived ease of use and lifestyle compatibility while facilitating condition and social influence demonstrated lower reliability. Through the rank analysis of items and factors, valuable insights were gained into their perceived importance. Perceived usefulness, perceived ease of use, and lifestyle compatibility were ranked highly, highlighting their significance in shaping awareness of the cashless economy. The t-test results indicated no significant difference in the mean awareness of the cashless economy between male and female respondents, suggesting that gender does not exert a significant influence on awareness levels. Similarly, the Kruskal Wallis test results showed no statistically significant differences in awareness among the five payment method categories (Debit/Credit card, Mobile Wallet, Mobile banking, Internet banking, and Other). This suggests that individuals’ awareness of a cashless economy remains consistent, regardless of the payment method they use. This study provides valuable insights into the awareness of a cashless economy among university students in Kathmandu Valley. The findings underscore the importance of perceived usefulness, ease of use, and lifestyle compatibility in shaping awareness. Keywords: Awareness level, Cashless transaction, Cashless economy, Payment methods