Is the e-payment gateway system sustainable in India – Analysis through the interpretive structural model approach

Abstract

Globally, digital payment has been seen as a common feature of developed countries. A gap was identified in literature regarding identification of the most critical variables in e-payment and the development of a model for the sustainability of e-payment. The purpose of the present study is to fill this gap, by identifying and modelling the critical factors influencing e-payment sustainability. The study also looks at the sustainability of the e-payment gateway system and develops the interpretive structural model (ISM) approach. The cross-impact matrix multiplication applied to classification (MICMAC) analysis technique has been used. Results of the study shows that behavioural intention, compatibility, trialability, trust, security, perceived cost and other factors play a significant role in the commitment of the consumer towards e-payment. The findings of the study will guide government, corporates and policy makers while framing strategies and policies for the sustainability of digital payment – a cashless move in India.