Pocket Money to Phone Money: The Digital Payment Evolution of Gen-Z

The expanding growth of financial technology has had a tremendous impact on the management and utilization of money by the younger generation, witnessed by the rising preference for new forms of receiving money, as opposed to the traditional medium of cash. The study done in the article “Pocket Money to Phone Money: The Digital Payment Evolution of Gen-Z” seeks to explore the adoption, preference, and perception of Gen-Z college students about the use of digital money transfer. The study employed primary data from 100 students, analyzed through the percentage method and graphical presentation tools, grouped data collected from the Google Form, filtered from the convenience sampling approach used by the researcher. The hypothesis was also created to establish the relationship between different parameters and which resulted in the rejection of null hypothesis(Ho). The outcomes of the analysis revealed the interest shown by Gen-Z in the use of digital money transfer, as opposed to the traditional form of hard cash, citing the ease of use, time, and convenience, though still scoring poorly on security. The results of the study imply the expansion of the use of cashless money transfers in modern economic activities