Adoption of Online Payments App (KEY IJP************650)

• Amol Tuteja

Abstract

Growth in Indian economy and evolving standard of living of Indians have welcomed room for new technologies in the lives of Indians, leading to the evolution of plethora of technology based solutions. Smartphone is one such multifarious technological solution used for connecting with people to performing financial activities, studying to gaming and shopping. Online payments is the recent trend which intensified lately due to collective affairs like government promoting digital India through awareness programmes, demonetization, financial inclusion through JDY, UPI launch, telecom growth with 4G launch and affordable internet facility, economical handsets, growth of m- commerce, new entrants in the m-payment industry and most importantly revamp in the lifestyle of people craving for viable solutions for everything. Whenever any new technology is introduced in the country usually advanced cities or metropolitan cities are the one to adopt it more quickly relatively to other cities and towns. So, this study takes an opportunity to study the adoption and usage of online payments. The study also tries to find the impact of the independent variables and demographic variables on the use of mobile payment systems. To study the objectives proper research hypothesis was formulated and tested using suitable statistical analysis tools using SPSS (version 23). Different statistical tools used in this research study are - cronbach alpha, factor analysis, chi-square, pie charts, tabulation and frequency. The majority of respondents (based on age) are between the ages of 18 and 25, and the preference for g-Pay for implementing online payments is at most 46.7%, while the preference for Paytm is at most 35.5%. The majority of respondents are male, and the preference for g-Pay for adopting online payments is at most 44.9%, while the preference for Paytm as an online payment method is at most 36.2%. Based on the statement "Digital payment service makes purchase of GoodsServices convenient," 43.8% of respondents gave a strong agreement rating. The total Chi Count was 8.85, and the P-Count was 0.715, which was higher than 0.05. It shows that the null hypothesis is accurate. As a result of a government initiative that had a favourable effect on the continuation of mobile payments for both consumers and businesses, the government should keep spreading the word about the economic advantages of mobile payment systems and provide concessions to businesses who accept them. Additionally, the federal government and state governments should collaborate to improve the security of the mobile payment infrastructure.