A Study on usage of digital payment system during covid 19 (original) (raw)
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COMPARATIVE ANALYSIS ON IMPACT OF COVID-19 ON DIGITAL PAYMENTS SYSTEM
International Journal of Exclusive Management Research, 2023
This research paper is all about the online payment application in India with reference to all Digital payments. It entails the impact and importance of online payment applications on consumers with respect to covid-19. This paper show casts advantages and disadvantages of Digital Payments. Cashless transactions like transactions through e-wallets, have various benefits like reduction in black money, reduction in crime rates, helps in improving economic growth of the country, helps in fighting against terrorism, attract more foreign investors, but this also comes with various disadvantages like the major issue at the moment is the security of the transactions and the services offered in these online payment applications. This paper studies the impact of online payment applications on consumers whether consumer are satisfied using online payment application or not.
The Use of E-Payment During COVID-19 Outbreak
International Journal of Scientific Research in Computer Science, Engineering and Information Technology, 2020
E-payment is an online technology option for people in the physical distancing period due to Coronavirus outbreak. This study aim is to examine social impact and role of e-payment provider and government related to the use of e-payment transaction as long as period of COVID-19 outbreak. We used PRISMA approach to find related resource to answer research questions. As social impact, we found e-business actor should be shifting their business model to support e-payment and costumers should learn e-payment application to support their payment activity as long as period of physical distancing regulation. As role of e-payment provider, we recommend to conduct a cooperation with banks and payment service providers, providing information to the public about the ease of access in using e-payment and infrastructure that supports for the community to be able to transact with e-payment. As e-government support strategies, we suggest to increase consumer confidence in using e-payment, facilitate consumers to easily transition from manual payments to e-payments and create a social program to support e-payment customers.
This paper highlights the Impact of Covid-19 on digital payment system. After the effect of Covid-19, the economy is started using more on digital payment system compared to pre Covid-19 era. This occurred mainly because, people afraid of going outside. They fear about the pandemic which spread drastically throughout the economy. Most of the people were forced to move towards the digitalization. The main aim of preparing this paper is to, study the impact of Covid-19 on digital payment system. For the study researcher has selected the women respondents who uses different digital payment modes to do their financial transactions. The area selected for the study is in and around Mangalore city. The sample size selected to conduct this research is 50 women respondents.
Factors influencing the usage of mobile payment services during the COVID-19 pandemic
Asian Economic and Financial Review, 2023
This study aims to identify and examine the factors that affected users' behavioral intentions, attitudes, and perceptions toward mobile payment services during COVID-19. It also attempts to determine the impact of demographic variables on the ease of use of mobile payment services. A survey approach was adopted to collect primary data and capture attitudes and behaviors on the use of mobile payment services during and after COVID-19. Being a quantitative study, a multiple regression analysis was used to analyze the primary data. The results indicate that education was the main reason for the adoption of mobile payment services, and security was the leading factor contributing to user satisfaction. Ease of use of the payment app was important for continued usage of the app. The statistical analysis explains that ease of use is an important variable for the usage of payment wallets or mobile payment services by users, followed by familiarity, safety, and security of the mobile payment wallet. Based on the findings of this study, it is suggested that mobile payment companies should concentrate more on the performance and ease of use of their applications. Mobile payment companies should also concentrate on meeting their users' needs, which will indirectly lead to the retention of their users for a long period. Contribution/Originality: The originality of the paper is that it focuses on different generations and explains the role of education as a major contributor to the adoption of mobile payment services. 1. INTRODUCTION Mobile-based payments have become a necessity since the COVID-19 pandemic rather than a process of convenience. The use of mobile-based payments can be considered a preventive behavior (adoption of social distancing) during pandemic times. Individuals' perceptions of the severity of the pandemic and their feelings of the extent of susceptibility to the disease can determine the level of adoption of preventive behavior (e.g., applying social distancing by shifting from physical banking to digital banking). Digital payments are mobile payments made via applications (apps) or payments made via internet banking and act as instruments to promote social distancing and allow customers to make transactions during lockdown periods. The present study analyzes and determines the impact of different demographic factors, such as age, gender and income, on the usage of mobile payment systems.
Impact of consumer perception towards the usage of digital payment during Covid-19 Pandemic
India is preeminent on the avenue of a digital revolution like the rest of the world. There are various heterogeneous elements arousing the consumer to use the digital payment such as a rise in disposable income, the introduction of new products and services, increase travel & expansion of the entertainment sector, and ecommerce has an affirmative impact and complementing the use of digital payment. Side by side there is sundry elements for the low rate of acceptance of digital payment, such as fees on digital platforms, anticipated lack of consumers' desire to pay digitally, and concern that history or recording of the transaction might increase the tax liability. The digitalization drive in payment methods since demonetization of 8, November, 2016 has made remarkable progress even in times of Covid-19 pandemic. The present study analyzed primary data collected from 113 respondents from Noida district of Uttar Pradesh to find out respondent's perception and the overall satisfaction, of digital payment methods even in times of Covid-19 pandemic. The Covid-19 pandemic has fasttracked digital transformation of the economy and payments sector in India. Besides augmenting the broadbased use of technology, the pandemic has fuelled the proliferation of digital modes of payment, propelling the country towards digitalization and 'less-cash' alternatives, Therefore the focus of the present paper is to know the impact of covid-19 on the digital payment.
Jurnal Multidisipliner Bharasa
The Covid-19 pandemic has impacted face-to-face restrictions, which from a financial perspective reduces cash transactions. Payment with a cashless payment method is currently the leading choice of the community. Digital transactions are one way to anticipate the spread of viruses. This article aims to find out the behavior of the public towards the Cashless Payment method in financial transactions. The study uses a qualitative phenomenological approach. Through qualitative approaches, it is found that people's behavior in digital transactions is more due to humanitarian reasons. The community considers that the Covid-19 pandemic is a shared responsibility for that there needs to be mutual care. New Normal in the view of society is a form of learning in the form of increasing concern for self, society, and God. The follow-up of the results of this study encourages authors to conduct further research using quantitative approaches through multiple regression analysis. Further inve...
International Journal For Multidisciplinary Research
The COVID-19 pandemic extensively affects the world, particularly consumer payment patterns. Since, the lack of physical contact during the COVID-19 pandemic era, consumers' need for a substitute spending pattern has increased. People are required to utilize debit cards, credit cards, internet banking, and other mobile banking services as an alternative to physical transactions when they buy products online and make virtual payments. 2019 is known as a pre-pandemic period, therefore the study intends to scrutinize the impact of the COVID-19 pandemic on the use of digital payment methods in Bangladesh. This paper has focused to analyze the average amounts of transactions of each payment method that occurred during the pre-pandemic and post-pandemic eras (2019-2021). The result of the study confirmed an insignificant impact of the COVID-19 pandemic on the use of digital payment methods in Bangladesh.
SAMRIDDHI : A Journal of Physical Sciences, Engineering and Technology, 2021
Almost from 21st March 2020 to December 2020 whole world faced a major issue of COVID-19 pandemic. In these situation lots of people lost their jobs, they left their cities due to unavailability of basic necessities. There was lockdown everywhere for nearby 6 months. Some good things happened lots of bad things happened. People started online payment method because they were not able to give cash. I started research on this, after looking problems faced by degree college students for making payment because all colleges have adopted the method of online payment system as well as there was immediate need for cashless day to day life transactions which included groceries, green groceries, transportation, bill payments. There are some positive aspects of online system and some faced issues while making payment.
A Study on the Digital Payment Adoption in Millennials Amid Covid-19
International Journal for Research in Applied Science and Engineering Technology, 2021
The COVID-19 pandemic has impacted the world since the end of 2019 and has negatively impacted almost all sectors of the economy except the digital payment sector. The various digital payment systems have been very helpful in tackling and preventing the spread of the COVID 19 by minimizing cash payments and ensuring contactless payments. The topic is “A Study on the Digital Payment Adoption in Millennials Amid Covid-19”. The topic for the study is based upon the current economic condition. The main aim of the study is to examine whether factors such as perceived risk, perceived usefulness, trust, perceived ease of use and perceived vulnerability has contributed towards the adoption of digital payment among millennials during this COVID pandemic. The purpose to study the relationship between perceived risk, perceived usefulness, trust, perceived ease of use, perceived vulnerability and adoption of digital payment among millennials amid COVID 19. The descriptive research design is ado...
ADOPTION OF ONLINE PAYMENTS DURING THE COVID-19 PANDEMIC
Economic and Social Development (Book of Proceedings), 74th International Scientific Conference on Economic and Social Development Development, 2021
58 ADOPTION OF ONLINE PAYMENTS DURING THE COVID-19 PANDEMIC Ivana Bestvina Bukvic Faculty of Economics in Osijek, Croatia ivana.bestvina.bukvic@efos.hr ABSTRACT The COVID-19 pandemic has restricted the free movement of people, which in turn has reduced the exchange of information, goods, services and capital on a global scale. On the other hand, it has led to the discovery or increased use of innovative and digital solutions to alleviate difficulties in various spheres of life. The objective of this paper is to examine the changes in the trends of adoption and usage of online payment systems to identify the differences in the adoption of online payment services in different geographical areas. This paper presents results of the recent findings that address the adoption of digital payment services in the context of the COVID -19 pandemic and highlights the factors that influence the adoption of online payments. Significant differences were found across geographic regions in the adoption of online payment methods and intentions to use them following the COVID -19 pandemic. As in previous research, perceived benefits and risks were among the most important constants for the use of online payments, but recently the risk of virus transmission through cash transactions became more important. The findings may be useful to other researchers and financial institutions in developing and promoting online payment systems and selecting key factors to increase the adoption of online payments across regions.