Evaluating Transaction Convenience of Cash and Digital Payments in Toledo City: The Role of Risk and Trust as Moderators

As digital payment systems expand their reach which creates more financial transaction methods that consumers can choose from. Cash maintains its status as a common payment option, yet digital payment systems provide benefits through their faster transaction times, their ability to reach all users, and their simple operation. The main purpose of this research was to evaluate transaction convenience in both cash and digital payment methods because the study needed to discover how perceived risk and trust influenced consumer choice and behavior. The researchers used a quantitative research design to study 377 frequent financial transactioners who participated in the study. The research team used structured survey instruments to measure three variables, which included transaction convenience, perceived risk, and trust. The researchers used correlation and regression methods to analyze the data, which showed how different variables related to each other. The findings showed that transaction convenience has a strong connection with both payment methods. Perceived risk established a moderating effect, which linked payment method with transaction convenience, while perceived trust impacted people when they decided to use digital payments. The results show that building trust together with decreasing perceived risk will help people reach their transaction convenience goals when they use new digital payment systems. Future research may explore additional factors, which include financial literacy and access to technology, because these elements will impact how people experience transaction convenience.