Digital Financial Literacy among Senior Citizens in Kirtipur: A Qualitative Study

Abstract

Rapidly growing use of digital payments is observed in Nepal. Nowadays, mobile wallets like eSewa, Khalti, and IME Pay have replaced physical cash in people's routine. It becomes a hard task for seniors, and there is a lack of study based only on their experiences of using digital money. In this study, I analyze the phenomenon of digital financial literacy among senior citizens in Kirtipur and find out how they perceive, evaluate, and receive support for digital financial services. A qualitative descriptive design was used, and two senior participants were chosen from a community center in Kirtipur using a purposive sampling technique. The interviews were conducted in Nepali, and the analysis followed the six-stage process of thematic analysis described by Braun and Clarke. The results were checked for validity by the means of member check and reflective notes. Digital financial literacy turned out to be more than app mastery and depended on trust, respect, inclusion, and independence in the case of studied senior citizens. Four main themes were revealed: cognitive struggle, social impact, integration into practice, and evaluation and support. These senior citizens turned out to be active learners creating their own safety rules. Banking institutions, families, and policymakers can help more by being patient and developing user-friendly applications.