Effect of Digital Payment Systems on Financial Management Practices.
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Abstract
The widespread adoption of digital payment systems has transformed the financial landscape by facilitating efficient, secure, and transparent transactions. This qualitative study explores the influence of digital payment systems on financial management practices among business organizations. Data were collected through semi-structured interviews with 25 business owners, financial managers, and accounting professionals. Thematic analysis was employed to identify recurring patterns and insights. The findings reveal that digital payment systems significantly improve cash flow monitoring, financial transparency, record management, decision-making efficiency, and business sustainability. However, concerns regarding cybersecurity risks, technological barriers, and digital literacy challenges remain prevalent. The study concludes that digital payment technologies play a vital role in strengthening organizational financial management and promoting sustainable business operations.
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