{"id":21092,"date":"2024-10-05T16:57:27","date_gmt":"2024-10-05T11:27:27","guid":{"rendered":"http:\/\/www.sachdevajk.in\/?p=21092"},"modified":"2024-10-05T16:59:23","modified_gmt":"2024-10-05T11:29:23","slug":"online-payments","status":"publish","type":"post","link":"http:\/\/www.sachdevajk.in\/?p=21092","title":{"rendered":"Online Payments"},"content":{"rendered":"

Title :-<\/strong> Online Payments<\/p>\n

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Author:- <\/strong><\/p>\n

Jainil Patoliya<\/p>\n

Keshav Goel<\/p>\n

Khushi Mittal<\/p>\n

Kesha Shah<\/p>\n

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INTRODUCTION:-<\/strong><\/p>\n

By the term online payment, we mean any activity that involves electronically transferring money to pay for purchases, services, or bills over the Internet. It is efficient, convenient and more secure which is why many people prefer it. Payment has options such as credit cards, debit cards, online bank transfers, e wallets, and payments through various platforms. From purchasing to paying bills and even carrying out banking transactions, online payment has changed the entirety of these activities. Its impact on the future of business and finance processes further develop.<\/p>\n

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Objective :-<\/strong><\/p>\n

To evaluate the effectiveness of online payment platforms in reducing cart abandonment rates and improving conversion rates.<\/p>\n

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Literature Review: \u2013<\/strong><\/p>\n

Online payment has become an increasingly popular method of transaction globally (Huang et al., 2018). Research has shown that online payment systems have improved transaction efficiency and reduced costs for both consumers and businesses (Chen et al., 2019). However, security concerns and privacy issues remain a major challenge (Kim et al., 2020). The rise of mobile payments and digital wallets has transformed the online payment landscape (Li et al., 2019). Cryptocurrencies and blockchain technology are also being explored for their potential to enhance online payment security and transparency (Nakamoto et al., 2019).<\/p>\n

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Data Collation:-<\/strong><\/p>\n

For above problem we famed 5 questions on Likert scale 1 to 5 where is 1 is strongly disagree and 5 is strongly agree and data is gathered from students of 100 Students were surveyed for each question mean, standard deviation, standard error and T-stat were calculated.<\/p>\n

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Data Analysis :-<\/strong><\/p>\n\n\n\n\n\n\n\n\n
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Problems.<\/p>\n<\/td>\n

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It gives me automated billing facilities.<\/p>\n<\/td>\n

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It gives me facility to pay anywhere at any\u00a0 of time<\/p>\n<\/td>\n

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It reduce paper waste<\/p>\n<\/td>\n

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It gives rewards and cash back<\/p>\n<\/td>\n

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No hassle of money being\u00a0lost\u00a0or\u00a0stolen.<\/p>\n<\/td>\n<\/tr>\n

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Mean<\/p>\n<\/td>\n

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3.79<\/p>\n<\/td>\n

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4.27<\/p>\n<\/td>\n

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4.4<\/p>\n<\/td>\n

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3.59<\/p>\n<\/td>\n

\n

3.88<\/p>\n<\/td>\n<\/tr>\n

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Standard Deviation<\/p>\n<\/td>\n

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9.1<\/p>\n<\/td>\n

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8.82<\/p>\n<\/td>\n

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7.84<\/p>\n<\/td>\n

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13.49<\/p>\n<\/td>\n

\n

11.71<\/p>\n<\/td>\n<\/tr>\n

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Standard Error<\/p>\n<\/td>\n

\n

0.91<\/p>\n<\/td>\n

\n

0.88<\/p>\n<\/td>\n

\n

0.78<\/p>\n<\/td>\n

\n

1.35<\/p>\n<\/td>\n

\n

1.17<\/p>\n<\/td>\n<\/tr>\n

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T-stat<\/p>\n<\/td>\n

\n

0.49<\/p>\n<\/td>\n

\n

0.87<\/p>\n<\/td>\n

\n

0.57<\/p>\n<\/td>\n

\n

1.37<\/p>\n<\/td>\n

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1.32<\/p>\n<\/td>\n<\/tr>\n

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Result<\/p>\n<\/td>\n

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Neutral<\/p>\n<\/td>\n

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Neutral<\/p>\n<\/td>\n

\n

Neutral<\/p>\n<\/td>\n

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Neutral<\/p>\n<\/td>\n

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Neutral<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

Since the t-stats provided are very small (less than 1.96), they are all not statistically significant, and therefore, we cannot conclude whether the result is positive or negative based solely\u00a0on\u00a0the\u00a0t-stats.<\/p>\n

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Conclusion :-<\/strong><\/p>\n

I have faced automated billing facilities.<\/p>\n

\u2060I get the facility to pay anywhere at any of time.<\/p>\n

\u2060I have reduced paper waste with the help of online payments.<\/p>\n

\u2060I get rewards and cash back.<\/p>\n

\u2060I don\u2019t face any hassle of money being\u00a0lost\u00a0or\u00a0stolen.<\/p>\n

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References: \u2013<\/strong><\/p>\n