Authors:
\n
\n1) Laveena Uchil
\n2) Prajakta Vispute
\n3) Siya Kallungal<\/p>\n
1. Introduction:
\n
\nDigital payment is a way of payment which is made through digital modes. The demonetization resulted in tremendous growth in digital payments. Cashless Payments is a way forward towards \u2018Digitalization\u2019. During the COVID-19 outbreak people were encouraged to socially distance themselves, which resulted in an increase in orders placed on e-commerce websites and apps for food, groceries, clothing and entertainment. Students especially indulged in digital payments. Therefore through this research we aim to understand the usage of Digital Payments by Students. <\/p>\n
2. Objective: To understand the underlying phenomena of the use of digital payment by students.<\/p>\n
3. Literature Review:
\n
\n3.1 Pandemic influence:
\n
\nAccording to an article published in International Journal of Environmental Research and Public Health, (2021) users\u2019 payment habits had changed due to the influence of pandemic, and that adoption intentions of online payment were determined by technology perceptions and mental expectations conjointly. Performance expectancy, perceived benefits, social influence, trust and perceived security are significant in facilitating users’ adoption intentions of online payments during the COVID-19 pandemic. Specifically, the contactless characteristic of the digital payment technique is beneficial in maintaining social distancing and protecting personal safety under a pandemic. Also Huterska et al (2021) says the extreme situation of the COVID-19 pandemic has had a strong impact on consumer payment behaviour. It has become a catalyst for increasing consumer acceptance of Mobile payments. The growing importance of cashless payments at retail and service outlets has been observed worldwide during the pandemic.
\n
\n3.2 Benefits of digital payment method:
\n
\nSharma, V. (2021) concluded from their study that digital payments have been adopted as a major means of payments these days due the various benefits it provides ranging from escaping physical visits to the banks and getting financial transactions done through some clicks on mobile phones. They also said that the variables of service quality considered in the study
\n(security, responsiveness, reliability and ease of use) held a statistically significant impact on the satisfaction level of the respondents from the digital payment facility provided to them.<\/p>\n
4. Data Collection:
\n
\nData was collected with the help of online surveys through google forms. This survey form was sent to many students of SNDT university & few students of other institutes for response. Few SNDT students were approached physically to gather survey responses. Based on the subtopic, the answers to the following questions were collected on a linear scale with a range of 1 – 5 :
\n <\/p>\n
I use Digital Payments daily.
\nI feel secure while paying online.
\nI faced payment losses in e-banking.
\nI faced frauds while doing e-payments.
\nI face issues while paying to local vendors digitally.
\nI make digital payments while travelling.
\nCustomer care has provided me support incase of losses.
\n
\nBased on the responses, the Mean, the Standard Deviation, Standard Error & z value of all 7 questions were calculated on an excel sheet.
\nFor calculating the values, the confidence level was taken to be 95%,
\nWhere, if Z was more than 1.96 we accept the statement as positive.
\nWhere Z is between 1.96 & -1.96 we say that people are neutral towards the problem statement.
\nWhere Z is less than -1.96 we say that people are negative towards the statement.<\/p>\n
5. Data Analysis:
\n <\/p>\n
| <\/td>\n | Q1<\/td>\n | Q2<\/td>\n | Q3<\/td>\n | Q4<\/td>\n | Q5<\/td>\n | Q6<\/td>\n | Q7<\/td>\n<\/tr>\n |
| Mean<\/td>\n | 4.08<\/td>\n | 2.30<\/td>\n | 1.96<\/td>\n | 4.17<\/td>\n | 2.76<\/td>\n | 3.84<\/td>\n | 3.39<\/td>\n<\/tr>\n |
| S.D<\/td>\n | 1.10<\/td>\n | 1.14<\/td>\n | 1.01<\/td>\n | 0.86<\/td>\n | 1.20<\/td>\n | 1.21<\/td>\n | 1.30<\/td>\n<\/tr>\n |
| S.E<\/td>\n | 0.11<\/td>\n | 0.11<\/td>\n | 0.10<\/td>\n | 0.08<\/td>\n | 0.12<\/td>\n | 0.12<\/td>\n | 0.13<\/td>\n<\/tr>\n |
| Z<\/td>\n | 9.98<\/td>\n | -6.19<\/td>\n | -10.40<\/td>\n | 13.82<\/td>\n | -1.98<\/td>\n | 7.08<\/td>\n | 3.06<\/td>\n<\/tr>\n |
| Acceptance<\/td>\n | Positive<\/td>\n | Negative<\/td>\n | Negative<\/td>\n | Positive<\/td>\n | Negative<\/td>\n | Positive<\/td>\n | Positive<\/td>\n<\/tr>\n<\/table>\n 6. Conclusion: Reference: Authors: 1) Laveena Uchil 2) Prajakta Vispute 3) Siya Kallungal 1. Introduction: Digital payment is a way of payment which is made through digital modes. The demonetization resulted in tremendous growth in digital payments. Cashless Payments is a way forward towards \u2018Digitalization\u2019. During the COVID-19 outbreak people were encouraged to socially distance themselves, which resulted… Continue reading Use of E-Banking System in India. Subtopic: Use of Digital Payments by Students.<\/span><\/a><\/p>\n","protected":false},"author":93114,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[7,38,69,9],"tags":[],"class_list":["post-16350","post","type-post","status-publish","format-standard","hentry","category-business","category-finance","category-macro-economics","category-management","entry"],"_links":{"self":[{"href":"http:\/\/www.sachdevajk.in\/index.php?rest_route=\/wp\/v2\/posts\/16350","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/www.sachdevajk.in\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/www.sachdevajk.in\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/www.sachdevajk.in\/index.php?rest_route=\/wp\/v2\/users\/93114"}],"replies":[{"embeddable":true,"href":"http:\/\/www.sachdevajk.in\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=16350"}],"version-history":[{"count":1,"href":"http:\/\/www.sachdevajk.in\/index.php?rest_route=\/wp\/v2\/posts\/16350\/revisions"}],"predecessor-version":[{"id":16481,"href":"http:\/\/www.sachdevajk.in\/index.php?rest_route=\/wp\/v2\/posts\/16350\/revisions\/16481"}],"wp:attachment":[{"href":"http:\/\/www.sachdevajk.in\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=16350"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/www.sachdevajk.in\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=16350"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/www.sachdevajk.in\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=16350"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}} |