Beyond Cashless Transactions: A Systems Theory Approach to Digital Ecosystem Integration and Socio-Economic Resilience Among Mumbai's Street Vendors
DOI:
https://doi.org/10.29070/74m3br19Keywords:
Digital Payment Adoption, Street Vendors, Systems Theory, Socio-Economic Resilience, Informal Economy, Financial Inclusion, Mumbai, Crisis AdaptationAbstract
Digitalization has transformed financial transactions globally, yet its role in informal economies requires deeper exploration. Street vendors in cities like Mumbai operate at the margins of financial systems, where survival is shaped by both digital tools and broader socio-economic dynamics. The research objectives include assessing adoption levels and usage frequency, measuring resilience indicators such as income stability, savings, and crisis absorption, mapping systemic interactions among vendors and platforms. Structured quantitative design was applied, for survey data from 350 vendors across Mumbai, analyzed using correlation and regression techniques. Results confirm awareness significantly enhances utilization (r = 0.634, p < 0.01) and utilization positively impacts performance (r = 0.551, p < 0.01). Unexpectedly, higher challenges correlated with greater adoption (r = 0.251, p < 0.01), indicating resilience under constraint. The findings highlight both reinforcing and constraining feedback loops within digital ecosystems to inform policymakers and financial institutions on designing inclusive digital interventions.
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