Role of e-payment in cashless economy and its impact on consumer behavior

Abstract

Some conflicting needs for use of cash have been utilized thoroughly in recent times indicating retail transaction is steadily increasing to an ample extent. The study is regarding understanding some important aspects of the e payment system for proceeding with the best result. Customer attitude towards the e-payment and generation of the trust regarding this has been equally portrayed throughout this study to understand the precautionary demand. Now in recent times, precautionary demand of the customers has been generated as the first priority for an owner which is also essential in the generation of integrity in the cashless economy. Moreover, this study also discusses the concept of the cashless economy that is beneficial in this scenario for understanding the in-depth view and concept. The study sheds light on the concept of e payment online banking and its impact on the purchasing behavior of the customers. The purchasing behavior of the customers refers to the intentions and beliefs of the customers that make them want to buy something. The process of e-payment is an easy and simple procedure of transactions that highly influences the buying behavior of consumers. The researcher has used the primary quantitative method and secondary quantitative method in order to evaluate the impacts of the e payment process on consumer behavior. Thereafter SPSS software was used by the researcher to test the data and analyze them accurately.

Subject Classification:

• 91B42

Keywords:

• E payment
• Consumer trust
• Online transaction
• Cashless economy