Mobile payment technologies are spreading rapidly across the globe, threatening to replace credit/debit cards and cash. The popularity of wallets like GooglePay and Paytm, with options of direct bank transactions through UPI, is at the cutting-edge of financial services that are easily accessible from personal mobile devices. Despite the advantages, developing countries continue to remain low adopters of mobile payments, with a heavy dependence on cash transactions. This is of particular concern for countries like India, where such technologies have the potential to improve financial inclusion. Our research tries to understand the reasons why citizens prefer (or not) to use mobile payments, and is aimed to design policy recommendations that promote its adoption, which, in turn, could aid financial inclusion.