An Empirical Study on the Adoption and Usage of Digital Payment Services among IT Employees in Hyderabad

Abstract: The rapid proliferation of digital payment technologies has transformed financial transactions, particularly among technology-savvy user groups. This empirical study investigates the adoption and usage patterns of digital payment services among IT employees in Hyderabad, a major IT hub in India. Drawing upon the Technology Acceptance Model (TAM) and the Unified Theory of Acceptance and Use of Technology (UTAUT), the research identifies key factors influencing behavioral intention, trust, and satisfaction toward digital payments. A quantitative research design was employed, utilizing primary data collected through a structured questionnaire administered to a sample of 156 IT professionals selected via stratified random sampling. Descriptive statistics, Likert-scale-based mean scores, and inferential statistical techniques, including chi-square tests and correlation analysis, were used to evaluate user perceptions and usage behavior. The findings indicate that 80.8% of respondents are highly aware of digital payment services, with 60.9% using them daily. Ease of use (M = 4.6), transaction speed (M = 4.5), and security and privacy (M = 4.3) emerged as the most influential adoption factors. However, 41.7% of respondents reported security concerns, and 28.8% faced transaction failures, highlighting persistent challenges. Furthermore, 77% of users expressed satisfaction, though concerns about cybersecurity and inadequate customer support remain. The study concludes that while digital payment services enjoy widespread adoption among IT professionals, enhancing security infrastructure, transaction reliability, and user support systems is critical for sustaining growth. The results offer actionable insights for fintech companies, policymakers, and financial institutions to strengthen digital payment ecosystems through trust-building measures and targeted user education. Keywords: Digital Payment Services, IT Employees, TAM, UTAUT, Cybersecurity, User Adoption, Hyderabad, Fintech. Title: An Empirical Study on the Adoption and Usage of Digital Payment Services among IT Employees in Hyderabad Author: Kavali Rangaiah, Dr. B. Menaka International Journal of Management and Commerce Innovations ISSN 2348-7585 (Online) Vol. 13, Issue 2, October 2025 - March 2026 Page No: 731-740 Research Publish Journals Website: www.researchpublish.com Published Date: 11-March-2026 DOI: https://doi.org/10.5281/zenodo.18954225 Paper Download Link (Source) https://www.researchpublish.com/papers/an-empirical-study-on-the-adoption-and-usage-of-digital-payment-services-among-it-employees-in-hyderabad