Customer Perception towards Adoption of Mobile Payments-A Study

Abstract

Mobile payments revolution has made it possible to provide ease and flexibility in banking operations for the benefit of customers. Technological innovations in mobile payments have also helped in bringing the customer online. Indeed mobile payments have become one of the most significant factors that support people lifestyle. Many services are now being offered through mobile devices which offer more channels for the businesses to interact with their customers. The banking sector has also foreseen the essential usage of mobile banking. It has been considered as a salient system because of the beneficialattributes of mobile technologies such as ubiquity, convenience, and interactivity. Mobile banking today offers a variety of services which can be accessed in real time, and these indeed balance inquiries, fund transfer, payment etc. In this study, an attempt has been made to explore the role of demographics in the adoption of mobile payments and to identify the factors influencing the mobile payments adoption. It is made at from this research thatcertain factors are significant in determining the adoption of mobile payments and these includes perceived usefulness, self efficacy, and compatibility, perceived ease of use, perceived risk, credibility, security, demonstrability, and relative advantage etc. The study reveals that increased use of technological products in a mobile payment industry its helps to work in efficient and better way.