Author(s) :

Sanjeev Kumar.

Volume/Issue :

Abstract :

This research examines consumer perceptions towards digital credit applications in India, focusing on Buy Now Pay Later (BNPL) services, payday loans, and instant credit cards. Using a mixed-methods approach combining quantitative surveys (n=200) and qualitative case studies (n=8), the study investigates awareness levels, usage patterns, perceived benefits and risks, and trust factors across demographic segments. Findings reveal high adoption rates in urban India, with varying levels of financial literacy influencing usage behaviors. While digital credit has enhanced financial inclusion, concerns regarding debt accumulation, hidden charges, and inadequate disclosures present significant challenges. The research contributes to understanding fintech adoption in emerging markets and provides actionable recommendations for creating a balanced digital credit ecosystem that promotes innovation while ensuring consumer protection. This study is particularly relevant for the Indian context, where rapid digitalization intersects with varying levels of financial literacy and significant socioeconomic diversity.

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