An Analysis of COVID-19's Effects on Online Payments Using ANOVA

Abstract

Adoption of digital payment methods rises during the COVID-19 pandemic. The coronavirus outbreak is affecting how consumers make payments. The majority of customers want to continue using digital payments once the virus has been contained. Global consumers were using them more frequently than they had before the epidemic. The main payment options gaining from this shift are e-Wallets and contactless cards as people use less cash and make more online purchases. Prior to COVID 19, fewer people used digital payment methods worldwide. When Covid-19 spread and physical transactions were on the verge of collapse, digital payments became a reality. This study's primary goals are to evaluate the effectiveness ofonline payment apps used by respondents during Covid 19 and consumer perceptions of the uptake of these methods. Both primary and secondary methods are applied in the process. Structured questionnaires were given to the residents of the Chennai area using the primary data approach. Articles, journals, and various forms of Internet have been utilized in secondary data. The collected data is analysed through Analysis of Variance method. The conclusion of this study shows that people were satisfied that online payment app is more convenient, time saving and easy to adopt. Thoughthere are many barriers in online payment app there were some preventive measures and security.