Identifying Critical Success Factor (CSFs) for the Adoption of Digital Payment Systems: A Study of Indian National Banks

Sahu, Ganesh P.; Singh, Naveen

doi:10.1007/978-3-319-75013-2_6

Cited by 11 publications

(8 citation statements)

References 27 publications

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“…Looking deeper into the impact of each of the selected environmental drivers, research findings have asserted the positive impact of technological readiness on consumers' usage intention of Fintech services, which is aligned with the published literature. In their review of literature related to forces impacting the adoption of digital payments solutions in India, Sahu and Singh (2018) have established the critical role of infrastructure as a driving power of adoption. Also, Gerlach and Lutz (2019), have found that technical conditions are a success factor that make consumer use Fintech services, since consumers are more willing to try and use a service if they are familiar with the process and have faith that the available resources will function appropriately (Zhou et al, 2010).…”

Section: Discussionmentioning

confidence: 99%

“…Many of the human behavior and motivation is controlled by the sociocultural environment where human find themselves(Deci & Ryan, 2008). According toSahu and Singh (2018) environmental factors were found to be a critical predictors of consumer adoption level of mobile payments. The tested factors were infrastructure, compatibility, government policy and cultural factors Putri et al (2020).…”

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confidence: 99%

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Drivers of the Consumers Adoption of Fintech Services

Alhajjaj

Ahmad

2022

IJIKM

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Aim/Purpose: This study aimed to explore the impact of environmental drivers and trust on consumers’ adoption of Fintech services in the Jordanian context. It had also evaluated the mediating role of trust on the relation between environmental drivers and consumers adoption of Fintech services. Background: The reviewed studies on Fintech adoption demonstrated a lack of focus on the role of external or environmental drivers on consumers’ intentions to use and continue to use of Fintech services. Amongst the analyzed studies, the majority had examined the role of consumers perception of services usefulness and ease of use while few had included some environmental variables within the investigated variables such as social influence and government support. Furthermore, shortage of Fintech adoption related research in the developing countries, especially the Jordanian context was noted. Methodology: The study conceptual model was derived from Social Cognitive Theory (SCT) and Technological Personal Environmental (TPE) framework. This study was a quantitative one that employed survey method to empirically address its research questions and test the proposed hypotheses. Jordanian residents over the age of 18 who are familiar with Fintech were targeted, and convenience sampling was applied to get representative sample. Data was assembled from 323 respondents using an online questionnaire. Partial Least Squares Structure Equation Modeling (PLS-SEM) was applied to analyze the gathered data through SMART-PLS software. Contribution: This article adds to the existing literature on multiple stands, as it adds to literature related to Fintech adoption, as well as the interaction between consumer environment and their level of adoption. It also enriches the limited literature on the influence of COVID-19 to drive consumer usage of innovative services. Moreover, it supplements the scarce literature on Fintech adoption in the Jordanian settings. Findings: The main findings revealed the positive influence of both environmental drivers and trust as predictors of consumer intention to use Fintech services. It had also asserted the positive mediating effect of trust on the relationship amongst environmental drivers and consumer usage intent. Recommendations for Practitioners: By understanding the importance of consumer environment and trust on encouraging consumer to adopt Fintech services, governments, policy makers and practitioners can utilize this knowledge to adopt their offered services. They need to work on enhancing the technological infrastructure, as well as establishing general technological knowledge. They also need to highlight the role of Fintech service in fighting Covid-19, by adhering to the social distancing rules. Moreover, they need to guarantee the security and reliability of the developed services to increase their level of trust in the offered services. Recommendation for Researchers: This research has confirmed the positive influence of consumer environment represented by social influence, government support, technological readiness, and COVID-19 on their adoption of Fintech services. It has also established the mediating influence of consumer trust on the relation between environmental drivers and consumer intent to use Fintech services. This area is unexplored and needs more validation. Impact on Society: By understanding the factors affecting the Jordanian society in adopting Fintech services, this research provides set of recommendation to the Jordanian government and policy makers that can lead for more adoption of the developed Fintech services, which in turn would lead to better services provided to the society as well as increasing the financial inclusion level in the Jordanian society. Future Research: Future research can explore other environmental variables that were not included in the current research. Future research can also investigate the moderating effect of personal attributes such as consumer’s demographics, or more personal attributes such as self-efficacy, inherit innovativeness or risk aversion. It can also examine the moderating effect of financial literacy and/ or technological background.

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Section: Discussionmentioning

confidence: 99%

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confidence: 99%

Drivers of the Consumers Adoption of Fintech Services

Alhajjaj

Ahmad

2022

IJIKM

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“…It allows users to handle and access their bank accounts online using the electrical gadget. (Sahu & Singh, 2018). [25] 5 Digital payment via digital tokens for better security With the rising usage of smartphones and internet accessibility, digital payment is rapidly replacing conventional wallets.…”

Section: E-payment Definitionmentioning

confidence: 99%

“…(Sahu & Singh, 2018). [25] 5 Digital payment via digital tokens for better security With the rising usage of smartphones and internet accessibility, digital payment is rapidly replacing conventional wallets. The payment component does not address security and privacy in the digital era.…”

Section: E-payment Definitionmentioning

confidence: 99%

A Systematic Review and Research Agenda of Digital Payment System with reference to Unified Payment Interface

Mahesh

2022

IJMTS

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Purpose: India is undergoing a significant transition from a cash-based economy to a cashless or less-cash one. The smartphone and internet adoption paved the way for technological acceptability in many sectors, including money usage. Economic transactions are carried out using an electronic medium. Among the several e-payment options over the last five years, the Unified Payment Interface (UPI) has grown dramatically. Payment is one facet of a country's financial inclusion. The current study intends to provide a thorough evaluation of the literature on digital payments in relation to UPI and financial inclusion. It also examines the factors that influence UPI platform acceptability, continue to use and recommend others to use. Design/Methodology/Approach: A thorough literature study is carried out in order to uncover research literature concentrating on important topics such as digital payment, technology acceptance and usage, digital financial inclusion, and unified payment interface. Using the SWOC and ABCD frameworks, the research need is identified and agendas are reviewed. Findings/Result: According to a survey of the literature, the majority of the research was conducted to evaluate digital payment as a whole. Less study was carried out by concentrating on UPI, especially in relation to the component of digital financial inclusion. The advancement of technology constantly calls for more research. Originality/Value: This is the first study to establish a link between Digital Payment, UPI and Digital Financial inclusion. The policymakers, service providers and researchers can make use of the results to understand and assess the role of UPI in making India a less cash society. Paper Type: Systematic Review of Literature.

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“…According to the previous studies [16,17,18,19] consumers in India are highly attracted by the money transfer feature provided by the cashless payment services in India.…”

Section: A Factors Affecting the Adoption Of Cashless Payment Servicmentioning

confidence: 99%

Factor Affecting Consumer Satisfaction in Cashless Payment Systems in India with Respect to Paytm and BHIM

2019

IJRTE

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Despite the massive adoption of Information and Communication Technology, in the field of digital payment systems, there are very few researches on consumer satisfaction with cashless payment systems. This exploratory research is the first to test consumer satisfaction level towards cashless payment systems through two leading companies (Paytm and BHIM), providing digital payment platform. The primary objective of the current research study is to identify the factors affecting adoption of cashless payment services and consumer satisfaction in India through survey method. Adoption of cashless payment systems can help society in the development of the economy. Study recommends that companies like Paytm and BHIM need to know the factors affecting ‘consumer satisfaction’ with cashless payment systems in India. Cashless payment system providers focus not only on the adoption of cashless payment systems but also the satisfaction of the consumers in India. The study also presents a model for enhancing the rate of customer satisfaction with respect to e-wallets in India. With the help of close-ended questionnaire, total 200 respondents have been participated in the survey. Through comparative analysis it is found that BHIM to be a much more secure platform as compared to Paytm since it is a government-owned platform. However, Paytm aids in providing an instant solution to problems but has a few disadvantages

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Identifying Critical Success Factor (CSFs) for the Adoption of Digital Payment Systems: A Study of Indian National Banks

Cited by 11 publications

References 27 publications

Drivers of the Consumers Adoption of Fintech Services

Drivers of the Consumers Adoption of Fintech Services

A Systematic Review and Research Agenda of Digital Payment System with reference to Unified Payment Interface

Factor Affecting Consumer Satisfaction in Cashless Payment Systems in India with Respect to Paytm and BHIM

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