Temporal separation of payments and consumption in online payment systems and their impact on firm strategies (original) (raw)

A STUDY OF OPPORTUNITIES AND CHALLENGES OF THE CUSTOMERS TOWARDS DIGITAL PAYMENT SYSTEMS

Phalanx: A Quarterly Review for Continuing Debate, 2023

We are as of now living in a computerized age. India is very nearly a critical computerized insurgency. The expanded connectedness that the Web offers in the present society has changed how monetary exchanges are led. An administration try, India's computerized program's significant goal is to make the country an information economy and an advanced society. As a component of the undertaking to support credit only exchanges and make India a country with less money, an assortment of computerized instalment arrangements are open. The country's financial scene had been adjusted by demonetization. In the advanced world, contactless cards, cell phone applications, and other electronic strategies will be utilized completely for instalments; notes and coins will at this point not be acknowledged. A computerized instalment framework is one that utilizes computerized channels and an electronic organization to deal with instalments. In computerized instalments, each exchange is done on the web. It is a fast and commonsense strategy for instalment. This exposition really tries to appreciate what clients mean when they discuss their joy with computerized instalment techniques. To acquire the outcomes that are being analyzed, the accompanying techniques were applied to the information: rate, normal, standard deviation, range, F-test, cross-organization, Chi-square test, Relapse investigation, and Element examination. As per the review's discoveries, the advanced instalment framework must be superior to expand the security and wellbeing of purchaser monetary exchanges. It additionally should be smoothed out and made more easy to use.

Digital Payment Systems -An Overview of Categories and Extant Opportunities and Challenges

International Journal for Research in Applied Science & Engineering Technology (IJRASET), 2023

The payments industry is changing as a result of mobile payments. These services give non-banking actors a way to break into the sector. Banks, who are already involved in the traditional payments sector, must provide mobile payments in order to meet this threat. Right now, we're in a digital era. India is about to see a significant digital revolution. The increasing connectivity that the Internet provides in today's society has altered the way that money is exchanged. The use of several technologies, including smartphones, computers, iPads, tablets, and the internet, has advanced dramatically in India. Smartphones and government initiatives like Digital India are acting as catalysts for the exponential growth in the use of digital payment as a result of the increase in internet users. In India, efforts are being made to switch to electronic payments. A digital payment system is one that processes payments through digital channels and an electronic network. Every transaction involving digital payments is completed online. It is a speedy and useful way to pay. With the aim of promoting cashless transactions and turning the Indian economy into a digital one, a number of digital payment options are available, including banking cards, USSD, UPI, AEPS, mobile wallets, POS terminals, Micro-ATMs, the internet, mobile banking, and BHIM. Secondary data has been gathered for this conceptual study from a variety of research papers, journals, magazines, and websites.

"Impact of E-Payment Systems on Customer Satisfaction"

IJRASET, 2021

Everything has shifted online since the outbreak of the pandemic, from education to full-time jobs to health checkups. What's important to remember here is that the majority of our day-today activities increasingly include making payments online. Although e-payment and e-banking solutions have been available for some time now, the pandemic has effectively compelled a huge portion of the urban and rural populations to use them. This research study aims to find out how widely epayment and e-banking systems are used and how they affect the user experience. Researchers have often been drawn to digital payment systems since they are a relatively new concept (the first digital payment system was only established in the 1990s). Over time, researchers have attempted to characterize the value of digital payment systems and what they represented for modern ecommerce, consumer personal finance, and economies around the world. According to the literature analyzed from many articles and research papers, digital payment is significantly more convenient than traditional paper currency. There has been a lot of studies done on the problems with digital payment systems (such as serious security issues and inaccessibility to these systems owing to low internet penetration), which pushes developers to keep working on these systems for the purpose of safer and faster transactions. According to several studies, online payment technology can cut costs, increase the number of consumers for a firm, improve customer-company interaction, and improve the company's image. This necessitates businesses providing a frictionless payment experience to their customers. In this research paper, a large amount of secondary data, as well as primary data acquired via survey, was utilized to highlight the paper's aims, type, and, most importantly, to analyze and interpret the data in order to better address the problem statement. We've come to the conclusion that electronic payment solutions have a huge impact on client satisfaction. Customers are increasingly turning to e-payment systems as a result of the pandemic's regular lockdowns, which have limited access to banks and conventional ATMs. While making online payments, consumers look for offers, rewards, discounts, and other incentives, which distinguish them from cash on delivery payments. Businesses (large and small) should make sure that their customers have a variety of ways to pay for goods and services (debit cards, credit cards, digital wallets, UPI, prepaid cards).

Payment Banks: Digital Revolution in Indian Banking System

Research Paper, 2020

Digital revolution in India has brought paradigm shift in the banking system and financial transactions due to online payment. Payment gateways, e-commerce applications and other benefits boost smartphone users towards digital transactions. This study focuses on identifying factors important for customers to use payment banks for transaction. The identified dimensions for the usage of payment banks are; user friendly, convenience, cost effectiveness, security and easy cash management. People look for the aforesaid factors while they transact through payment banks. To validate the factors and check the model fit, a confirmatory factor analysis was run using AMOS. The analysis confirms constructs convergent validity and reliability, and model fit.

Analysis of E-Payment Applications: A Case Study of One of the Zakat Institutions in Malaysia

Journal of Techno-Social, 2016

Payment is the heart of businesses. For an online business, electronic-payment (e-payment) plays a significant role to expedite the transaction. Online or e-payment system is not crafted for business as merely profit-oriented but it is offered to all, including government and other non-profit organisation institutions. Nowadays, it can be witnessed that there are various types of e-payment systems available to facilitate online selling and buying transactions. However, e-payment system at philanthropy institutions has received fairly little attention from the public. This is happening even though these institutions have invested a lot of money on e-payment systems. Thus, this study attempts to identify types of e-payment systems at one of the Islamic philanthropic institutions in Malaysia and analyse the performance of e-payment in that institution. The result of this study is hoped to contribute to the body of knowledge particularly in terms of information technology and performanc...

ANALISIS PERSEPSI NASABAH ATAS KEAMANAN DAN KEPERCAYAAN DALAM SISTEM e-PAYMENTS

2012

This research made a study on the security and trust in the relation to the Electronc Payments System (EPS) . The research propose a model which discuses factors which determine the perceived security and the perceived trust. This research also discus the effects of perceived security dan trust in the use of EPS, In this research there has been an emprirical test of the proposed model with respondens of 316 people in the Jakarta Meropolitan area. Data was analized using a structural equation modelling. The research finding shows that security statements is a factor which is significant to increase the perceived security in the usage of EPS. The perceived trust has a positif influence significanly in the use of EPS. The research did not find any statistical proving that there is a statistical relationship between the quality of transaction procedure with the preceived security and perceived trsutin the use of EPS. This research also proves that there is a statistical relationship bet...