Digital Payment Methods Research Articles

Does personal innovativeness and personal anxiety matter? The predictors of continuance use intention of an e-wallet system

PurposeElectronic wallets (e-wallet) systems have revolutionized transactional activities, prompting individuals to adopt digital payment methods. This study investigates the determinants of the continuance intention of the e-wallet system Touch 'n Go in Malaysia. We propose a framework integrating the diffusion of innovation theory (DOI) and mental accounting theory, thereby assessing the impacts of product-related factors (convenience, compatibility, perceived risk and perceived compatibility) and the moderating role of personal-related factors [personal innovativeness (PI) and personal anxiety].Design/methodology/approachData were collected involving 381 Malaysian Touch 'n Go users. The partial least squares structural equation modeling (PLS-SEM) was applied as a data analysis technique.FindingsAs demonstrated by the results, convenience serves as a facilitator, while perceived risk acts as an inhibitor, influencing the continuance intention of the application. Compatibility and perceived complexity are found to be insignificant antecedents. However, neither PI nor personal anxiety was found as moderators.Originality/valueThis research brings contributions to the electronic commerce literature by extending the understanding of the predictors and moderators of the continuance intention of Touch 'n Go users in Malaysia. We discuss how these findings implicate the two theories and offer insights for service providers and policymakers to promote the post-adoption intentions of Touch 'n Go.

Influence of Perceived Convenience, Perceived Usefulness, and Perceived Risk on the Use Of QRIS to Increase MSMEs Income

QRIS (Quick Response Code Indonesia Standard) is a national standard for payments using QR codes in Indonesia. QRIS was developed by Bank Indonesia and the Indonesian Payment System Association (ASPI) to facilitate and unify various digital payment methods through standard QR codes. This study discusses the effect of perceived ease of use, perceived usefulness, and perceived risk on the use of QRIS to increase MSME income. There are 100 samples used and the sampling technique is through purposive sampling technique and the PLS-SEM method as the analysis with SmartPLS. The results of the study state that perceived ease of use, perceived usefulness have a significant influence on the use of QRIS while perceived usefulness has an insignificant influence on the use of QRIS. And the use of QRIS has a significant effect on MSME income.

The role of digital payments in overspending behavior: a mental accounting perspective

PurposeThe paper examines how individuals can be susceptible to payment biases in the context of digital payment behavior by utilizing the concept of mental accounting. Furthermore, the paper investigates the moderating effects of Digital Financial Literacy (DFL) on the relationship between payment methods and spending behavior.Design/methodology/approachThe study employs a survey-based approach to collect data from 503 individuals who use digital payment methods, utilizing purposive sampling from Pakistan. The collected data is analyzed using Smart-PLS 4 software to assess the direct impact of payment methods on spending behavior and the moderating influence of DFL.FindingsThe research findings demonstrate that both digital and cash payments significantly affect spending behavior. However, digital payments have a more substantial impact on spending behavior compared to cash payments. The findings also show that DFL significantly positively moderates individual spending. The study validates the mental accounting perspective by evaluating the direct impact of payment methods on consumers' spending behavior.Practical implicationsThe findings have practical implications for policymakers, financial institutions, and educators. Policymakers can leverage the insights to design effective strategies that promote responsible spending behavior and enhance the adoption of digital payment methods. Financial institutions can design user-friendly platforms that cater to users' spending preferences, while educators can develop programs to enhance Digital Financial Literacy (DFL) among the public.Social implicationsThis study’s social implications lie in its potential to contribute to individuals' financial well-being by promoting responsible spending through digital payment methods. Enhanced financial literacy and informed spending decisions can lead to better financial management and ultimately contribute to societal financial stability.Originality/valueThe study enriches the understanding of mental accounting, shedding light on how overspending behavior can manifest through digital payment channels. In addition, this research practically provides valuable insights into enhancing the adoption and financial literacy of digital payments among the public.

Consumer's Attitude towards Digital Payments: A Demographic Analysis

Purpose: The purpose of the study is to assess the knowledge and attitude of consumers towards various payment modes with special reference to digital payment methods in Nagaland State, India. Design/methodology/approach: The study is based on primary data from students, scholars, government employees, and self-employed private employees of the Nagaland state of India. The data were collected through a questionnaire. The questionnaire was standardised by using the item analysis and the items generating unfavourable t-statistics were removed. The basic data were analysed by using descriptive statistics followed by interpretation of the results. In addition to that, inferential statistics was also used for hypothesis testing. Findings: The majority of consumers were satisfied with the electronic payment option, according to the study's findings, which is encouraging for the country's lawmakers. However, consumers also make use of cash on a regular basis. Debit or credit cards are used by almost half of consumers for both in-person and online purchases. Consumers of both sexes and varying socioeconomic backgrounds have quite different sentiments about e-payments. Regarding e-payments, people with different educational backgrounds, marital statuses, management styles, and work statuses have the same attitudes. Research limitations/implications: The study was conducted in Nagaland state of India and confined to only two districts. Convenience sampling technique was used in the study. This study considered only perception towards E-Payments. Similar study may be conducted by using some other variables. Furthermore, research that are cross-sectional and longitudinal can be conducted to delve deeper into the topic. Originality/value: This study fills the apparent gap in the existing payment gateway system. It contributes to the body of research on adoption of new technologies, and specifically E- payment services. It provides with a better understanding of Consumer's attitude towards E-Payments.

The Influence of Digital Payment Systems on Financial Performance: A Study of Maheshwari Sales and Services

In today's company environment, digital payment solutions are critical to improving customer experience and optimizing financial operations. This study uses a mixed-methods approach, combining quantitative and qualitative data to provide a thorough analysis. To assess customer and employee satisfaction and operational changes, Maheshwari Sales and Services conducts surveys and interviews. Financial information is reviewed to determine the influence on cash flow management. Preliminary data indicate that the use of digital payment systems has enhanced customer satisfaction due to the convenience and speed of transactions. Furthermore, these technologies have helped to improve cash flow management by eliminating the time lag between sales and fund availability. Additionally, operational efficiency has improved, with significant savings in transaction processing times and administrative overheads. The analysis reveals that Maheshwari Sales and Services' financial and operational success is heavily reliant on digital payment methods. The findings of this study can be used to influence strategic decisions about the organization's future integration and optimization of digital payment technologies.

The Impact Of Fintech Innovations On Traditional Financial Institutions, Financial Inclusions, and Payment Systems – A Review Of Case Studies

Fintech (monetary innovation) advancements have been reshaping the monetary scene, altering the manner in which individuals access monetary administrations, go through with exchanges, and deal with their funds. It has fundamentally disturbed the customary monetary scene, it are conveyed and experienced to change the way monetary administrations. Fintech startups have pushed traditional financial institutions to change and improve their services in order to remain competitive with agile, customer-focused solutions. Fintech has revolutionized payment systems simultaneously by introducing digital payment methods and making cross-border transactions easier, reducing cash-based systems' reliance. Most importantly, fintech has increased financial inclusion by enabling individuals and small businesses to participate more actively in the formal economy by providing formal financial services to previously underserved populations via mobile platforms. While the extraordinary effect of fintech is apparent, policymakers and partners should address administrative intricacies and network protection dangers to guarantee supportable and comprehensive monetary environments. This article looks at the extraordinary effect of fintech on customary monetary foundations, installment frameworks, and monetary incorporation. By breaking down different literary works and contextual analyses, the specialist attempts to investigate how fintech has disturbed conventional practices, further developed productivity, and cultivated more noteworthy monetary incorporation around the world. IndexTerms - Fintech, computerized installments, monetary environment, network safety, monetary consideration, artificial intelligence, man-made consciousness, information security, risk.

Barrier-breakers’ influence on full-adoption of digital payment methods

PurposeThe purpose of this study is to empirically examine the relationships between barrier-breakers and customers’ intention to fully adopt digital payment methods (DPMs).Design/methodology/approachSurvey data were analyzed using statistical methods focusing on hypothesis testing with an ordinal regression model and moderation analysis using the PROCESS macro extension. Participants were divided into two groups of customers in Sweden: adopters-accepters, i.e. young bank customers and adopters-resisters, i.e. members of a formally organized group opposed to a cashless society.FindingsThe findings revealed that only the credibility barrier-breaker could increase the adopters-accepters’ intention to fully adopt DPMs. Credibility also seemed to be an important barrier-breaker for the adopters-resisters, as were perceived usefulness and social influence. Additional analyses showed that the impersonalization barrier reduces the impact of the barrier-breakers on DPM adoption.Practical implicationsRetail banks and merchants can use these results as a guide to what barrier-breakers might affect various customers’ intention to fully adopt DPMs, and to act accordingly. The impersonalization barrier also merits attention when creating an emotional connection to customers who use DPMs.Originality/valueThis study provides empirically based knowledge of the influence of barrier-breakers on the intention of customers, categorized as adopters-accepters and adopters-resisters, to fully adopt DPMs, and highlights the importance of maintaining a human touch in the post-COVID-19 digital era.

A Study on the Usage of Paytm with Special Reference to Vatakara Taluk

As more and more people buy goods and services online, the payment system must adapt as well, pushing us toward digital payments. In this way, we have switched from using cash to digital payment methods like debit cards, credit cards, and smart cards, which allows us to avoid carrying actual currency around

Coin Insertion Based EV Car Charging System Using Raspberry PI PICO

The coin insertion-based Electric Vehicle (EV) charging system represents a novel approach to enhance accessibility and convenience in EV charging infrastructure. This system integrates a coin based payment mechanism with Raspberry Pi technology to provide users with an alternative and straightforward payment option. Utilizing a Raspberry Pi as the central control unit, the system interfaces with EV charging hardware, a coin acceptor, and sensors to facilitate the charging process. Users can effortlessly charge their EVs by inserting coins, addressing the needs of individuals who prefer cash transactions or lack access to digital payment methods. The system ensures safety compliance, calculates charging duration based on coins inserted, and offers a user friendly interface displaying charging status and payment information. This abstract presents an innovative solution to broaden the accessibility of EV charging services by incorporating a familiar and efficient payment method in tandem with modern technology

Flip that coin: Barriers, barrier‐breakers, and full‐adoption of digital payment methods

AbstractThe purpose of this study is twofold: to examine the mediating effect of a number of barrier‐breakers on the relationship between barriers and the intention to fully adopt digital payment methods; and to identify adopters‐resisters' commenting behaviour when facing a full‐adoption scenario. Mixed methods were applied. The PROCESS macro method was used to analyse 388 survey responses and test the mediating effects. The main study reveals that the privacy, security, and access barriers can be reduced by increasing the credibility and usefulness barrier‐breakers, respectively. However, the impersonalisation barrier is found to be unaffected by the social influence barrier‐breaker. Based on 91 collected and analysed comments, the netnographic‐based follow‐up study identifies social media commenting behaviours caused by a major bank's decision to stop handling cash. Among the more frequent such behaviours are boycotting and aggressive comments.

Local wisdom and Government's role in strengthening the sustainable competitive advantage of creative industries

The competitive advantage of the Creative Industry is an important strategy to succeed in a highly competitive global business market. The Indonesian creative industry is a strategic industry characterised by Small and Medium Enterprises (SMEs). However, these enterprises face challenges, such as low entrepreneurial orientation, low digital literation to access the global market, limited capital, lack of digital payment methods, and a focus on conventional marketing activities rather than implementing Entrepreneurial Marketing (EM). The previous research proposed that Entrepreneurial Orientation (EO) and Entrepreneurial Marketing (EM) could increase competitive advantage due to the moderating role of local wisdom culture and the government's role. Therefore, this research aims to analyse the moderating role of local wisdom culture and the government's role in the effect of EO and EM on sustainable competitive advantage development. The quantitative research design employed a self-administered survey distributed to 400 top and middle managers within the superior and priority subsectors of the creative industry. The survey targeted four provinces in Indonesia known for their high contributions to the Gross Domestic Product (GDP >9 %), based on the ‘Purposive Sampling’ method. The results of the SEM analysis, based on 330 useable data points, show that Local Wisdom and Government's Role significantly mediate the relationship between Sustainable Competitive Advantage and Sustainable Business Performance. The research results imply that it is necessary to empower the government's role in providing information technology infrastructure to facilitate the creative industry's access to the global marketplace and encourage the use of digital payment methods for the rapid development of sustainable competitive advantage. Theoretical contributions extend to Dynamic Capability Theory by integrating Resources Advantage Theory and Resources Base View Theory, including the moderating role of Local Wisdom and Government's Role, and examining the relationship of EO and EM with sustainable competitive advantage.

CUSTOMER SATISFACTION OF GOOGLE PAY UPI PAYMENT APPS

Digitization and Go cashless scheme has been extensively pushed by the Indian government to regularize and smoothen the cash transaction after demonetization. The demonetization consequences give extraordinary growth in digital payment such as E-banking, Mobile banking, Card transaction etc. Unified Payments Interface (UPI) is one of the fastest growing digital payment system through which a user can both send and receive money through a Virtual Payment Address (VPA). Uniqueness of UPI over other digital payment methods like 24*7 and 365 days availability, Easy and convenient to use and secure gateway attracts the customers of service sector. This research was mainly focused to study the customer perception (service sector) towards the awareness and adoption of UPI systems in Indore region. For this research primary data was collected through structured Questionnaire contains 5 point likert scale from service sector and secondary Data collected from Government Reports, Website etc. This research concludes with aspects of awareness and adoption of UPI through comparison between gender, age and occupational data of customers. The results of this study add to our knowledge about acceptation of UPI and its usefulness in cashless and immediate transactions that influence young male customers who belongs to service sectors. The research concluded that customer of service sector is more swing towards the adoption of UPI and there is significant difference found male and female customers towards the adoption and use of UPI.

Impact of Digital Wallets and UPI Payments on Youths at Mysore City

Our pockets have been supplanted with Smartphone’s instead of money. You no longer need to fret if you forget your purse or wallet because you have a digital wallet that allows you to access your bank account in a way that is more secure and safe than using actual cash. The best method to conduct financial transactions gracefully and improve the quality of services for digital users is to use financial technology. The purpose of the research is to comprehend how young people in Mysore City perceive using digital payments. Since most young people and college-bound students are still reliant on their parents, it is common to see them with very little pocket money. As a result, they frequently have little understanding of money matters and are unable to save or budget efficiently in their day to day life Additionally, when they want to spend cash, they typically use digital payment methods like PhonePe, Google Pay, Paytm and BHIM. Hence this research aims to analyze the driving forces behind choosing UPI over other payment methods and to investigate how safe and secure people feel when using UPI and digital wallets. The simplicity of use is one of the primary advantages of digital payments and UPI for young people. These payment options can be easily accessed through smart phone’s and do not require users to have a bank account or credit card. These payment options can be easily accessed through a smartphone or other internet-connected device and do not require users to have a bank account or credit card. They are now especially helpful for young people who might not have the required paperwork to start one due to this. So this study helps to understand the Impact of Digital payments on Youth’s and they by attain measurable information across platforms currently being used in this modern era.

The Intention of Young Muslim Generation to Use the Islamic E-Wallet Services in Indonesia

Research Originality: Technological developments have changed human behavior in economic activities, including payment methods that use e-wallets. On the other hand, consumers also need an e-wallet that complies with Sharia principles. The COVID-19 pandemic forced consumers to use digital payment methods. However, the number of studies related to the continued usage of Islamic e-wallets in Indonesia remains limited.Research Objectives: Hence, our study examines the factors influencing a person's intention to use an Islamic e-wallet.Research Method: The theoretical framework used in this study is the Technology Acceptance Model. The analysis technique employed is multiple regression analysis using 371 respondents.Result: Empirical results indicate that the factors influencing a person's intention to use an Islamic e-wallet are usability, ease of use, trustworthiness, and religiosity. However, the risk variable does not significantly affect a person's intention to use an Islamic e-wallet. Implication: These results imply that companies must improve the features and services of Islamic e-wallet applications.JEL Classification: D10, G29How to Cite:Risza, H. (2024). The Intention of Young Muslim Generation Using the Islamic E-wallet Services in Indonesia. Etikonomi, 23(1), 219 – 232. https://doi.org/10.15408/etk.v23i1.37452.

Adoption of Digital Payment Systems and its Influence on Consumer Behaviour in India

The economic life of India is undergoing significant changes with the rapid adoption of digital payment systems. This study explores the complex relationship between this phenomenon and its subsequent impact on consumer behavior. The Digital India programme, technological advances and a young, tech-savvy population have all contributed to the growth of digital payments in India. This study examines the key factors influencing the adoption of digital payment methods with a focus on perceived ease of use. , security considerations and government incentives. It examines how these factors and demographics influence consumer choices about mobile wallets, UPIs, online banking and debit/credit cards. The study further analyzes the impact of digital payments on consumer purchasing behavior in India. We look at potential changes in online shopping habits, impulse buying trends and consumer tracking. The research explores how the convenience of digital transactions can increase online shopping and potentially impulse buying. On the other hand, it explores how these platforms could promote greater financial transparency by allowing consumers to more effectively control their spending.This mixed methods study uses a quantitative survey and qualitative interviews to gain a comprehensive understanding of this phenomenon. The quantitative study collects information on the use, perceptions and consumption behavior of digital payments from a representative sample of Indian consumers from various demographic groups. In-depth interviews with a smaller group of consumers provide a better understanding of their experiences and how digital payments have affected their shopping habits.The study aims to deepen understanding of the factors influencing the adoption of digital payment systems in India and their shopping habits. . effect on consumer behavior. It reveals the motivations for using digital payments, identifies potential changes in spending patterns, and provides insight into the changing consumer landscape. In addition, this study aims to inform decision-makers, financial institutions and businesses that want to take advantage of the opportunities offered by the digital payment revolution. Keywords Cashless Economy, UPI, Digital Payments, online Banking, Convenience, Security

Examining the Relationship Between Digital Payment Adoption, Tourism Restrictions, and Public Health during pandemic

This study looks into how the ban on tourism, digital payments, and the spread of COVID-19 in India interact. With the use of a structural equation model that has been verified by confirmatory factor analysis, the study makes use of primary data collected from inhabitants of India using a five-point Likert scale. The results show a strong three-factor structural model with excellent fit and dependability. The main goal is to learn more about the public's knowledge and readiness for COVID-19 transmission control and evaluate how well digital payments and travel bans work to stop the virus's spread. In addition to providing empirical testing to clarify the untested model, the report highlights the critical roles that digital payment methods and tourism play in tackling the pandemic's issues. This study adds empirical support to the body of literature, illuminating the hitherto unexplored relationship between digital payments, tourism-related treatments, and their ability to lessen the effects of COVID-19. The findings offer a thorough grasp of the possible contributions of digital payment products and tourist rules in the larger framework of pandemic control, in addition to offering insightful information for policymakers.

Online Impulsive Buying Behavior (Oibb) Influenced By Hedonism, Resource Availability, And Shopping Convenience Moderated By The Ease Of Using Digital Payment Methods

This research focuses on the influence of hedonism, resource availability, and shopping convenience online impulsive buying behavior (OIBB), moderated by ease of use of digital payment method. Data collected by distributing questionnaires viaa online to 356 respondents. A total of 340 respondents were selected to be the sample because they fit the specified respondent criteria. The data obtained was analyzed using the PLS-SEM method, and processed using SmartPLS software version 4.0. The results of this research show that hedonism and convenience of shopping directly have a positive and significant influence on online impulsive buying behavior. While the availability of resources (money) does not significantly influence online impulsive buying behavior. In the moderation relationship, ease of use of e-wallets is proven to strengthen the relationship between hedonism and online impulsive buying behavior, but can decrease the relationship between shopping convenience and online impulsive buying behavior. Meanwhile, ease of use of e-wallets has no influence on the relationship between availability of funds and online impulsive buying behavior.

Mobile Money Use, Digital Banking Services and Velocity of Money in Ghana

Investigating the correlation between digital financial services, mobile money usage, and money velocity in Ghana, the study analysed time series data spanning from 1992 to 2022. A composite index was constructed by principal component analysis using data extracted from the world development indicators, with the components mobile money usage, digital financial services, and velocity of money. The estimation utilised an impulse response function and vector error correction model; the results indicated that mobile money, digital financial services, and money velocity are related in both the short and long term. Furthermore, the application of a standard deviation innovation to the velocity of money produced increases of both positive and negative magnitude for all the variables. This suggests that mobile money, digital banking services, and velocity of money in Ghana are interdependent in an asymmetric manner. In order to facilitate an increase in the velocity of money, the research concluded that policymakers should guarantee that a greater proportion of the population has access to mobile money and digital banking services. In addition to promoting mobile money, online banking services, and digital payment methods on purpose, the government should reduce reliance on physical currency and expedite the circulation of money. It is recommended that future longitudinal studies involving African nations employ diverse estimation techniques.

The Intention to use Digital Payment in the UMKM Sector in Manado City

This study aims to understand and analyze how MSMEs in Manado City promote the development of digital payment usage. It employs a quantitative method, with 201 respondents particularly from the culinary sector of North Sulawesi Province, focusing on Manado City. Sampling was conducted through an online questionnaire using Google Forms distributed via social media. The research applies the Technology Acceptance Model (TAM) with modifications, incorporating perceived risk and social influence variables. Convenience sampling was utilized, and data was analyzed using SEM-PLS software. The findings demonstrate that all constructs tested—perceived ease of use, perceived usefulness, perceived risk, and social influence—can influence attitudes in encouraging MSMEs to adopt digital payment methods in their businesses. The implications of this research suggest that awareness of the importance of perceived ease of use, perceived usefulness, perceived risk, and social influence in adopting digital payments can help MSMEs increase acceptance and usage of digital payment methods in their business operations. Therefore, development and promotional strategies focusing on strengthening these factors could be key in accelerating digital payment adoption by MSMEs. Additionally, stakeholders, including the government and industry players, can utilize these findings as a basis for developing policies and support programs aimed at expanding digital payment penetration in the MSME sector.

From Kirana Stores to E-commerce: The Evolving Landscape of Consumer Perceptions on Digital Payments in India

India is not an exception to the global trend of the rising popularity of digital transactions. According to studies, effective systems of payment can contribute to a faster movement of liquidity throughout a country's economy. In this digital age, businesses that want to be agile and provide the best possible service to their customers need to offer digital payment options. This research investigates how individuals view online and digital payment methods and explores their apprehensions regarding the security of such transactions in an era dominated by interconnected technologies. Marketers need to understand how consumers view cashless payment methods, and this study provides valuable insights. The research being conducted is qualitative and analyses the idea of digital transactions through literature evaluations. The evaluations list a number of drawbacks and benefits when making payment methods that are digital. The results show that India accepts digital payment methods, and that usage is rising annually. The survey also outlines the benefits and difficulties that customers encounter when implementing digital payments. In general, this research offers insightful information on how digital transactions will develop in India. It is clear that digital payments are here to stay, and businesses that want to stay ahead of the curve need to offer these options to their customers.