A Literature Study Of Consumer Perception Towards Digital Payment Mode In India (original) (raw)
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A Study of Consumer perception regarding digital payment system in India
In today word mobile users can nowadays use their smartphones to make money transaction or payment by using applications installed in the phones. The last decade has seen tremendous growth in use of internet and mobile phones in India. Electronic consumer transaction made at point of sale (POS) for services and products through internet banking or mobile banking using smartphones or card payments are called as digital payment. This paper provides us a glimpse of the user’s behavior about the use of digital payment, their satisfaction level and impact of age on their use, factors that can affect a consumer’s decision to adopt digital payment. The structured questionnaire will used as a research tool for study the consumer perception of digital payment. Primary data will collected from 100 respondents. The respondents will categorized on the basis of demographics such as age, income level, occupation and gender. This research used quantitative method ANOVA in
Study of Consumer Behaviour Towards Digital Payment: An Empirical Study with Reference to Kolkata
IJEAST, 2021
The Digital India program is a distinguished government program undertaken by the Government of India that has an intention of making the country a digital society and a knowledge economy. The slogan and professed role of Digital India is "faceless, paperless and cashless". Different methods of electronic payments are available to promote transactions involving no cash and turn India into a cashless society. These methods include debit/credit cards, Unified Payment Interface (UPI), Aadhaar Enabled Payment System (AEPS), Unstructured Supplementary Service Data (USSD), numerous mobile payment wallets, micro-ATM etc. This study focuses on the attitude, perception of the urban consumers towards various digital payment methods. Responses from 100 respondents of Kolkata have been recorded using purposive sampling method and are analysed using anova.
IAEME Publications, 2019
The last decade has seen tremendous growth in use of internet and mobile phone in India. Increasing use of internet, mobile penetration and government initiative such as Digital India are acting as catalyst which leads to exponential growth in use of digital payment. Electronics Consumer transaction made at point of sale (POS) for services and products either through internet banking or mobile banking using smart phone or card payment are called as digital payment. The consumer perception of digital payment has a significant and positive impact on adoption of digital payment.
Moving from Cash to Cashless Economy: Toward Digital India
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The study evaluates India’s technological advancement, which has created a range of opportunities for consumers to enter into digital payment space. Demonetization in India has forced all consumers and companies to embrace and create cashless digital payment platforms. The cashless economy scenario involves various factors for its adoption such as reach, availability and awareness. This study considers factors responsible for adopting new digital payment technologies in India’s different regions across various consumers. The study includes descriptive statistics and variance analysis (ANOVA) to identify elements to achieve maximum satisfaction. The research collects data from 250 respondents living in India, experiencing digital payments and online transactions. The data is collected through a structured questionnaire and critically analyzed using statistical analysis. The data has been analyzed with no sectorial biases and tracked by creating real-time indications. The study uses v...
STUDY ON USAGE OF DIGITAL PAYMENT APPLICATIONS IN INDIA
Trans stellar Journals, 2021
For a long time, the world has been moving toward all things digital. However, the year 2020 highlighted the urgent need to embrace new technologies as soon as possible. With the implementation of the lockdown, this adaptation happened almost instantly, particularly in India for digital payments. The Indian government has been promoting and propagating online payments sharply, beginning with demonetization back in 2016. 'Digital India' has been the spirit of the many economic and financial decisions that pushed Indians to modify online payments. In a country like India, where disparities are sometimes different, ensuring financial equality becomes a problem of prime importance. This study analyses the usage of Digital Payment Applications and the challenges faced by users. The findings show that1/3 of the respondents in the age group 25-35 have been personally impacted by fraud, data theft, etc. There is a need to create awareness about the precautions to be taken so that the users are not victimized due to fraudulent activities.
Digital payments and consumer experience in India: a survey based empirical study
Journal of Banking and Financial Technology, 2021
Propelled by recent policy initiatives and technological developments, India's digital payment system is a promising success story in the making. At the same time, the data also points towards an increasing usage of cash. While aggregate country-level data can indicate overall preferences of citizens, we use a novel online survey-based dataset to understand how factors such as 'perception' and 'trust' in digital payments, and experience with online frauds, affect the payment behaviour of consumers. While demographic factors like age, gender and income are relevant factors which determine this choice, we find compelling evidence that a person's usage of digital payment methods is influenced by her perception of these instruments, as well as her trust in the overall payments framework and banking system in general. We find that the degree to which past-experience with online fraud deters usage of digital payments varies with the purpose of the transaction.
Cashless Transactions has become essential in present era due to availability of E-Banking services and additionally customer's awareness for quality in service. Indian economy is developing and with huge Internet subscribers creates a better platform for excellent practice of Cashless Transactions. Demonetization has presented a unique platform for adoption of digital payment, as an alternative to cash for Indian consumers. A survey analysis has been undertaken for 136 customers of Haryana in India to understand their perception towards Cashless Transactions. Specific Age Group is identified as a dependent variable with about 51% habitually in the age group of 26-40 for cashless transactions. Perceived Usefulness and customer attitude indicates a strong relationship when analysed in reference to a specific age group. This study reveals about the significance which is concerned with the relevance of the customer perception towards cashless transactions of a specific age group particularly in Haryana.
PUBLIC PERCEPTION ON CASHLESS TRANSACTION: AN EMPIRICAL STUDY IN VIJAYAWADA, ANDHRA PRADESH
Isara solutions, 2023
After demonetization initiatives, most of the people in India started electronic payments for their transactions. Everyone from the small merchant to neighboring vegetable vendor is embracing digital payment solutions. Slowly India is moving from cash to cashless economy. A cashless economy is one in which all the transactions are done using cards or digital means. The circulation of physical currency is minimal in cashless economy. The benefits of Cashless economy are many. The increased use of credit cards will definitely reduce the amount of cash that people have to carry which reduces the risk and the cost associated with that. In this paper an attempt is made to examine the Public perception towards cashless transactions in and the attempt is also made to identify the challenges faced by them during their transactions.
DIGITAL TRANSACTIONS: OPINION AND ADOPTION LEVEL OF THE CONSUMER
seybold, 2023
The Banking sector has undergone drastic changes in its operating system in the past decade due to the change in technological innovativeness. Both public and private sector banks have effected changes in their services to keep them restructured in this competitive environment. After demonetization thebanking services are made more feasible to the consumers with the aid of mobile banking applications. After an exhaustive literature review the study on user perception in digital wallets have been undertaken. Design: The formulation of the study is descriptive in nature. First-hand information has been collected from a random sample of 100 respondents through a structured questionnaire and the attributes are measured with statistical tools. Findings:The users were more satisfied in Google pay (Gpay) mobile banking application to transfer funds from one bank account to another bank account.
AWARENESS AND PERCEPTION OF MEDIUM AND SMALL RETAILERS TOWARDS CASHLESS TRANSACTIONS IN GUWAHATI
IAEME PUBLICATION, 2020
The concept of cashless economy in India is focused around the objective of transforming the country into a society, which is digitally enabled and empowered by various modes of cashless transaction. The idea of cashless economy is to keep the usage of cash at minimum. India is one of the few countries where the usage of cash is most. It is only after demonetisation most of the people have started using plastic money in the form of debit card/credit card etc. The government has been taking initiatives to promote e-payment, plastic transaction and cashless payment. Cashless transaction brings greater transparency, ease and convenience in monetary transaction. At the same time, non cash transaction reduces flow of black money to some extent and also increases liquidity in the banking system which will eventually lead to development of the Indian economy. With the expansion of telecommunications, increased number of smart phone users and innovations of large number of digital payment platform like Paytm, UPI APPs, mobile wallets, smart card etc usage of non cash transaction have increased. India is in transition to become cashless society. However, Indian retail sector is still ascendant over cash transaction. A large number of small and medium scale retailers still prefer cash transaction. The participation and willingness of retailers to adopt cashless transaction is of prime importance in the movement towards cashless economy as the volume of monetary transaction in the retail sector is very high. The objective of the study is to ascertain the awareness of small and medium sized retailers of Guwahati regarding digital payment and their attitude towards cashless transaction. Further the study aims to find out what according to retailers are the benefits and problems of using digital payment method. The study covers two aspectsone, how retailers are accepting payment from consumers and second, how they are making payment to suppliers