Artha Vijnana: Journal of The Gokhale Institute of Politics and Economics

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Exploring the Factors Affecting Consumer’s Adoption of Digital Payment System


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1 Research Scholar, University School of Applied Management, Punjabi University, Patiala 147002, Punjab, India
2 Assistant Professor, University School of Applied Management, Punjabi University, Patiala 147002, Punjab, India
     

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With growth in digital commerce and internet access, digital payments services have huge potential in the country; however, consumer adoption of digital payments system is still low in India. Therefore, the present study tries to validate the unified theory of acceptance and use of technology (UTAUT) model to predict the behavioural intention to use digital payment system. A sample of 112 Undergraduate students of the University of Patiala is used to examine the research hypotheses. The findings indicate that performance expectancy and social influence are important determinants for digital payment system adoption and use, but effort expectancy has a significant negative influence on behavioural intention and facilitating conditions have no influence on behavioural intention to use digital payment system. The study offers several practical implications for digital payments service providers and banks regarding the marketing of new payment systems to increase users’ behavioural intention to use this payment system.

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  • Exploring the Factors Affecting Consumer’s Adoption of Digital Payment System

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Authors

Sandeep Kaur
Research Scholar, University School of Applied Management, Punjabi University, Patiala 147002, Punjab, India
Nidhi Walia
Assistant Professor, University School of Applied Management, Punjabi University, Patiala 147002, Punjab, India

Abstract


With growth in digital commerce and internet access, digital payments services have huge potential in the country; however, consumer adoption of digital payments system is still low in India. Therefore, the present study tries to validate the unified theory of acceptance and use of technology (UTAUT) model to predict the behavioural intention to use digital payment system. A sample of 112 Undergraduate students of the University of Patiala is used to examine the research hypotheses. The findings indicate that performance expectancy and social influence are important determinants for digital payment system adoption and use, but effort expectancy has a significant negative influence on behavioural intention and facilitating conditions have no influence on behavioural intention to use digital payment system. The study offers several practical implications for digital payments service providers and banks regarding the marketing of new payment systems to increase users’ behavioural intention to use this payment system.

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DOI: https://doi.org/10.21648/arthavij%2F2021%2Fv63%2Fi3%2F210630