The basic awareness of digital financial literacy helps a person to make correct financial decisions and also keep away from the fraudulent activities of pirated digital payment apps. The study concluded that even though most of the teachers are depending on digital payments apps for their financial transactions, many of them were unaware about what to do if their payment through digital apps failed. The data collected was analyzed through the statistical tools like annova, confirmatory factor analysis, multiple regression methods, chi-square.
The researchers have developed a model based on the information collected through literature review and other primary sources. The researchers have chosen teachers as they are the role models and social responsible people by being their personal literate and effectively dealing their personal transactions. The information for the study was collected through questionnaire from the teachers. The purpose of this research work is to assess the digital financial literacy among working women in higher education sector in Kerala. The threats of fraudulent activities in the electronic payment system have led to the necessity of effective systems for coherent payment management. The movement towards digital payment apps comes with risks also.
Moreover the actions taken by the RBI supplements the sellers in encouraging the customers to go for digital payments. This forced the sellers, local vendors to accept payment in digital mode. It was boosted during the period of Covid-19 as the people were shown more interesting in online purchase and online way of payment even in the traditional mode of purchase. The demonetization has posed the challenges of moving from the physical cash transactions to digital payments.
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