Abstract
E-payment is a convenient and easy mode of payment, due to its convenience it makes everyone’s life easy, because it takes less time to make transaction. This makes a solid case for adoption in many developed as well as developing countries. However, there are many countries who have not successfully implemented it due to lack of facilities and even lack of awareness of customers. Even in a developing country like Pakistan E-Payment system is not so popular because of many operational constraints, according to Asian Development Bank (ADB) almost 95% people of Pakistan rely on case on delivery (COD) method and only 5% people use E-Payment system. In Hyderabad many people prefer COD method when they order online. This research aimed to analyze the customer awareness and lack of adoption of E-payment system in Hyderabad marketplace. The survey was conducted using questionnaire that was adopted from existing measurement instruments from past research papers. The questionnaires were distributed to customers and banks of Hyderabad, male and female, aged ranging from 18 to 51 years old. The data is analyzed using SPSS Software. The sample size was 350 respondents of Hyderabad. This study found that system credibility, facilitating conditions, perceived ease of use and perceived usefulness are the most important factors that affect to the customer awareness and slow adoption of E-payment system. This research will help to understand the reason behind lack of adoption of E-Payment system by studying the customer’s knowledge about the usage of E-payment system and evaluate the reason behind this slow adoption of customers.
Highlights
The internet users have been growing day by day
Over the course of history the payment system has evolved significantly, from the simplest and oldest form of payment, which is the exchange of one good or service for another to present day Emoney and the Electronic payment system URS (2015)
A descriptive as well as predictive study is undertaken to analyze the awareness of E-Payment system and examine the factors affecting the usage of E-Payment system in Hyderabad
Summary
The internet users have been growing day by day. As the number of internet users increases so ecommerce is growing as well. A payment is a transfer of an item of value from one party to another in exchange for the provision of goods, services or both, or to fulfill a legal obligation-payment is method or way of transferring money from buyer to seller or from one party to another electronically without the use of paper or cheques (Rachna, 2013). E-payment is method or way of transferring money from buyer to seller or from one party to another electronically without the use of paper or cheques (Rachna, 2013). Over the course of history the payment system has evolved significantly, from the simplest and oldest form of payment, which is the exchange of one good or service for another to present day Emoney and the Electronic payment system URS (2015).
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