Aditya Raj Gupta

Digital Payment Diffusion, Working Capital Asynchrony, and Infrastructure Friction in Grassroots Micro-retail: Empirical Evidence from a Semi-urban Industrial Cluster in Central India

Aditya Raj Gupta & Ravindra Kumar Thawait · Asian Journal of Economics, Business and Accounting · 2026

Aims: The rapid digitisation of retail settlements through real-time payment (RTP) infrastructures such as the Unified Payments Interface (UPI) is transforming micro-enterprises across developing economies. However, informal micro-merchants in semi-urban industrial nodes often ex...