This study investigated the risk perception of travellers in Nashik regarding online payments made to major platforms, such as MakeMyTrip, and local hospitality businesses for booking services. The rapid digitalization of the hospitality sector necessitated an examination of customer security concerns, which often temper the convenience of digital transactions. A quantitative research design was employed, and primary data were collected through a structured survey from a sample of 125 travellers who had recently used online platforms for hospitality bookings. The research identified and measured the key dimensions of perceived risk, namely Financial, Privacy, and Security risks. The results indicated that Security Risk Mean= 4.12 on a 5-point scale was the most significant deterrent, followed closely by Privacy Risk. Furthermore, a relationship was established between travel frequency and the level of perceived risk. The findings provided actionable insights for online platforms and local hospitality businesses in Nashik, recommending enhanced security protocols and transparent communication to mitigate customer risk perception, thereby fostering greater trust and encouraging the continued adoption of digital payments.