Executive Summery

The main aim of research is to find out consumer behaviour towards online
Payment that what is behaviour of people of Gujarat to buy goods online and
which mode of payment is more preferred. The objective of this research is to
make investigation and analysis for consumer behaviour towards online
payment in Gujarat.

The project report includes the general information of the E-payment System,
Various methods of e-payment, and Major players in e-payment industry. The
project also contains the information regarding the Current and future scenario
of e-payment in Gujarat details.

Here in this research study exploratory research design is selected with

convenience sampling method with 100 sample size. Data is collected through
primary data collection (through questionnaire) and secondary data collection
methods (books, journals, old research reports).

Limitations of the study are: People were not ready to fill in the questionnaire.
Many of the surveyed people did not reply all the questions. The time period
given for study was very limited. The sample size was very small which is may
not represent the entire population of Gujarat Region. Area covered for this
research is only urban area where people are using internet frequently. Rural
area is not covered.

On the basis of the present study concludes that due to online payment more
customers are satisfied. This research explicitly indicates that online payment is
effective. Maximum respondents from Gujarat prefer online payment through
paytm. People like to done online payment through paytm as compared to
others. Discount offers effects more to customers in online payment.

1
General Information

2
 Background
E-payment system is a way of making transactions or paying for goods and
services through an electronic medium without the use of check or cash. It’s
also called electronic payment system or online payment system.

The electronic payment system has grown increasingly over the last decades
due to the widely spread of internet-based banking and shopping. As the world
advance more on technology development, a lot of electronic payment systems
and payment processing devices have been developed to increase, improve and
provide secure e-payment transactions while decreasing the percentage of check
and cash transaction.

With the rapid development of science, computer and network technology,

electronic-commerce has become a routine part of human life. Since it can
provide new impetus to develop business in enterprises, it is convenient for
customers, especially in business to customer commerce. The customer can
order at home and save time for doing more things. There is no need to visit a
store or a shop. The customer can visit different stores in the internet in a very
short time and compare the products with different characteristics. Such are
price, colour and quality.

Online payment systems have a very important role in e-commerce. E-

commerce enterprise use online payment systems that refer to paperless
monetary transactions, which has revolutionized the business processing by
reducing paperwork, transaction costs, and labour cost. Being user-friendly and
less time consuming than manual processing, electronic commerce helps a
business organisation expand its market reach expansion.

(http://www.theseus.fi/bitstream/handle/10024/139600/Yang_Wenjing.pdf?sequence=1&isAl
lowed=y )

3
 What Electronic Payment System is?

Electronic Payment is a financial exchange that takes place online between

buyers and sellers. The content of this exchange is usually some form of digital
financial instrument (such as encrypted credit card number, electronic cheques
or digital cash) that is backed by a bank or an intermediary, or by a legal tender.

Electronic payment system is a system which helps the customer or user to

make online payment for their shopping. E-payment System also known as
Digital Payment System.

4
 Global E-commerce Payment Market Analysis and Forecasts
2018-2025

The demand for e-commerce payment is largely influenced by a number of

factors such as availability of several online payment options on e-commerce
websites such as e-wallet, debit & credit cards, net banking etc. increasing
banking population worldwide; and rising smartphone adoption coupled with
increasing internet penetration. Furthermore, the growth of cross-border e-
commerce provides a potential opportunity for the e-commerce payment
market.

The e-commerce payment market is fragmented with the presence of several

payment gateway providers and the competitive dynamics in the market is
expected to change during the upcoming years. E-commerce players are
considering several factors before reaching a final decision to select a payment
gateway service provider for their online business. These factors include ease of
on boarding, attractive pricing, a range of payment options, merchant & end-
user centric features, strong customer support and availability of Omni channel.
Integration of such features under one suite of gateway solution will create
significant opportunities for the companies to leverage an increasing growing e-
commerce market.

(https://globenewswire.com/news-release/2018/09/10/1568358/0/en/Global-E-commerce-
Payment-Market-Analysis-and-Forecasts-2018-2025-Lowering-Entry-Barriers-In-the-
Payment-Service-Market-Together-with-Technological-Advancement-will-Create-
Favourab.html)

5
 India Digital Payment Systems Market

Indian payments industry is largely dominated by cash-based transactions. The

banking industry in the country was majorly branch-based till 2014. Later, there
was a considerable growth in the branch-less channels of banking, which has
further explored into digital payments in both rural and urban regions. Indian
digital payments industry is expected to reach $700 billion by 2022 in terms of
value of transactions.

It is expected that more than 80% of the urban population in India will adopt
digital payments as a part of their routine by 2022 and 70% of the retail chains
will adopt the same. The reduced transaction charges and the degree of ease of
cash transfers associated with the electronic fund transfers and mobile banking
will further drive the growth of digital payment systems in India. Also, the
Indian Government is bringing positive policy framework such as Goods and
Services Tax (GST), financial inclusion, improving digital infrastructure,
launching payment systems such as aadhar enabled payments, UPI, and others
which are supporting the digital payments industry. In 2016, Indian Government
made a significant move, i.e. demonetization, to curb black money circulation
within the country and to increase digital payment penetration. It is a
phenomenal step made by India towards improving cashless economy, resulting
in sharp increase of several digital payment channels in the country.

(Source: https://www.reuters.com/brandfeatures/venture-capital/article?id=12775)

6
 Methods of E-payment

Methods of
E-payment

Credit Cash
Payment Payment
System System

Credit Direct Stored-

E-wallet Smart card E-check E-cash
Card debit value card

(Chart:1)

 E-payment methods could be classified into two areas, credit payment

systems and cash payment systems.

1. Credit Payment System Credit Payment

 Credit Card: A form of the e-payment system which requires the use of
the card issued by a financial institute to the cardholder for making
payments online or through an electronic device, without the use of cash.
 E-wallet: A form of prepaid account that stores user’s financial data, like
debit and credit card information to make an online transaction easier.
 Smart card: A plastic card with a microprocessor that can be loaded with
funds to make transactions; also known as a chip card.

7
 2. Cash Payment System
 Direct debit: A financial transaction in which the account holder
instructs the bank to collect a specific amount of money from his
account electronically to pay for goods or services.
 E-check: A digital version of an old paper check. It’s an electronic
transfer of money from a bank account, usually checking account,
without the use of the paper check.
 E-cash: It is a form of an electronic payment system, where a certain
amount of money is stored on a client’s device and made accessible
for online transactions.
 Stored-value card: A card with a certain amount of money that can
be used to perform the transaction in the issuer store. A typical
example of stored-value cards are gift cards.

(Source: https://securionpay.com/blog/e-payment-system/)

8
 Advantages and disadvantages of electronic payment systems
Time savings
Money transfer between virtual accounts usually takes a few minutes, while a
wire transfer or a postal one may take several days. Also, you will not waste
your time waiting in lines at a bank or post office.

Expenses control
Even if someone is eager to bring his disbursements under control, it is
necessary to be patient enough to write down all the petty expenses, which often
takes a large part of the total amount of disbursements. The virtual account
contains the history of all transactions indicating the store and the amount you
spent. And you can check it anytime you want. This advantage of electronic
payment system is pretty important in this case.

Reduced risk of loss and theft

You cannot forget your virtual wallet somewhere and it cannot be taken away
by robbers. Although in cyberspace there are many scammers, in one of the
previous articles we described in detail how to make your e-currency account
secure.

Low commissions
If you pay for internet service provider or a mobile account replenishment
through the UPT (unattended payment terminal), you will encounter high fees.
As for the electronic payment system: a fee of this kind of operations consists of
1% of the total amount, and this is a considerable advantage.

User-friendly
Usually every service is designed to reach the widest possible audience, so it
has the intuitively understandable user interface. In addition, there is always the

9
opportunity to submit a question to a support team, which often works 24/7.
Any way you can always get an answer using the forums on the subject.

Convenience
All the transfers can be performed at anytime, anywhere. It's enough to have an
access to the Internet. Having specified the well-known advantages of electronic
payment system, it is necessary to mention its drawbacks:

Restrictions
Each payment system has its limits regarding the maximum amount in the
account, the number of transactions per day and the amount of output.

The risk of being hacked

If you follow the security rules the threat is minimal, it can be compared to the
risk of something like a robbery. The worse situation when the system of
processing company has been broken, because it leads to the leak of personal
data on cards and its owners. Even if the electronic payment system does not
launch plastic cards, it can be involved in scandals regarding the Identity theft.

The problem of transferring money between different payment systems

Usually the majority of electronic payment systems do not cooperate with each
other. In this case, you have to use the services of e-currency exchange, and it
can be time-consuming if you still do not have a trusted service for this purpose.
Our article on how to choose the best e-currency exchanger greatly facilitates
the search process.

The necessity of Internet access

If Internet connection fails, you cannot get to your online account

(Sources:https://unichange.me/articles/advantages_of_electronic_payment_systems)

10
Major Players in E-payment System Wallets Companies in India
2018

1. Paytm

PayTM is easily the top Digital Wallet in India today. Both

by brand familiarity and user adoption. They had crossed
200mn installs in early 2017 and marching towards their
target of growing to 500mn users. They have the largest
network of offline merchants. One can easily call them the
“Whatsapp” of the digital wallet space. Anyone using digital
wallets will be using them.

2. MobiKwik

MobiKwik slowly but steadily grew to become the 2nd

largest digital wallet by its shear strength of user-experience
and online merchant integrations. They keep growing and
give a strong competition to Paytm.

3. Phonepe

PhonePe started as UPI payment app and later was acquired

by Flipkart to be launched as a digital wallet for the e-
commerce giant. It definitely has a lot of smart people
behind the app as a first time user will find the app really
easy to use. Do use them if you shop often on Flipkart and
pay bills online.

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 4. Freecharge

Freecharge is a great story in the Digital Wallet world

due to the transformation journey it has travelled. What
started as a service to provide physical coupons for
online mobile recharges over years got bought over by
Snapdeal and also pivoted to a complete digital
payments platform. However, even with a young and
fresh branding, they never could capture a user’s
imagination like others. This wallet always feels like an afterthought when
making online transactions. But it’s still a great app to have for transactions and
offers.

5. Airtel Money
Airtel Money easily has one of the largest user bases.
However, most of the transactions on the platform is
limited to Airtel bill payments for mobile, broadband
and other services. You can absolutely use it for online
transactions like others but most users do not.

6. JioMoney

JioMoney like airtel happens to be available for a large

user base due to sheer VOIP revolution Jio is driving in
the country. They still have a long way to go in terms of
integrations and offers.

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 7. Google Pay
Google Pay is the fast, simple way to pay online, in
stores and more. Book a trip, grab a meal, see a
show, and enjoy new experiences – all without your
wallet. Getting started on the web or with the app is
easy. Just add a card, and you’re ready to go.

8. Ola Money
Ola Money which is the payment wallet offered
along with the OLA cab booking app has a large
user adoption due it being one of the market leaders
in the mobility space. However, most people use it
for paying Ola bills or keeping money for cab rides.

9. Amazon Pay
Amazon Pay is one of the newest entrants in this
space and grown quickly piggy-backing on the
popularity of the Amazon e-commerce platform.
Like PhonePe this wallet is a must-try if you use
Amazon for shopping.

10.PayZapp

This digital wallet is by HDFC bank which like

SBI is a major player. They focus on simplified
one-click payments which makes using it
extremely simple.

13
 What is E commerce?

E-Commerce (Electronic Commerce or EC) is the buying and selling of goods

and services, or the transmitting the funds or data, over an electronic network
primarily the internet.

Indian E-commerce:

Being driven by a young demographic profile, increasing internet penetration

and relative better economic performance, India e-commerce revenue is
expected to jump from $30billion in 2016 to $120 billion in 2020, growing at an
annual rate of 51%, the highest in the world, according to a joint ASSOCHAM
(Associated Chambers of Commerce and Industry) Forrester study paper.

14
 E-commerce Industry in India:

 Internet penetration in India grew from just 4 per cent in 2007 to 35.03
per cent in 2017, registering a CAGR of 24.23 per cent between 2007 and
2017.
 As of December 2017, internet penetration in India’s urban areas stood at
64.84 per cent and 20.26 per cent in the rural areas.
 Urban India with an estimated population of 444 million as per 2011
census already has 295 million using the internet as of December 2017.
 Rural India, with an estimated population of 906 million as per 2011
census, has 186 million internet users as of December 2017. There is
therefore a great opportunity for increasing penetration in the rural areas.
 Analysis of ‘Daily Users’ reveal that both in Urban and Rural India, the
younger generations are the most prolific users of internet.
 Rising internet penetration is expected to drive ecommerce growth in
India.
 The Indian e-commerce industry has been on an upward growth trajectory
and is expected to surpass the US to become the second largest e-
commerce market in the world by 2034.
 The e-commerce market is expected to reach US$ 64 billion by 2020 and
US$ 200 billion by 2026 from US$ 38.5 billion as of 2017.
 With growing internet penetration, internet users in India are expected to
increase from 481 million as of December 2017 to 829 million by 2021.
 Rising internet penetration is expected to lead to growth in ecommerce.
 India’s internet economy is expected to double from US$125 billion as of
April 2017 to US$ 250 billion by 2020, majorly backed by ecommerce.

15
 E-Payment Systems in E-commerce

Online payment is a form of electronic payment, which is provided by a third

party payment interface between banks for real-time payment. Compared with
the traditional payment, online payment systems are more convenient, fast,
efficient and economical. Users can use their own PC or mobile phone with
Internet to complete the entire payment process in a very short time.

Online banking is a very common way of online payment systems. For example,
when users want to shop online. The user must open an online bank account.
This payment is directly paid by credit card or even debit card. And now third-
party online payment systems such as PayPal are also very popular in e-
commerce. Third party payment is an independent organization, which provides
the network payment mode for transaction platform between bank and online
payment platform. Third party payment mode is like a credit intermediaries to
supervise and support between online business and the bank.

First of all, for the customer third-party online payment companies can provide
a variety of online payment systems. Especially for small and medium
enterprises. Online payment system provides a convenient payment platform to
do trade with customers. For the customer, it does not only give a chance for
quick payment after shopping online, but it also avoids the risk of money
transfer. Online payment allows the banks to expand their business and allocate
the resources on development and maintenance.

16
Review of Litereture

17
 1. E-Payment System on E-Commerce in India
(Karamjeet Kaur Int. Journal of Engineering Research and Application) ISSN:
2248-9622, Vol. 5, Issue 2, (Part -1) February 2015, pp.79-87)

1. Karamjeet Kaur 2. Dr. Ashutosh Pathak

E-commerce provides the capability of buying and selling products,

information and services on the Internet and other online environments. In an e-
commerce environment, payments take the form of money exchange in an
electronic form, and are therefore called Electronic Payment. E-Payment system
is secure there should be no threat to the user credit card number, smart card or
other personal detail, payment can be carried out without involvement of third
party, It makes E payment at any time through the internet directly to the
transfer settlement and form E-business environment. Studied have been carried
out on E-Payment system .E-Payment system an integral part of electronic
commerce. An efficient payments system reduces the cost of exchanging goods
and services, and is indispensable to the functioning of the interbank, money,
and capital markets. Questions are related to E-Payment systems in which given
options are Agree, Disagree, Strongly disagree, and strongly agree, Neutral.
After analysis and comparison of various modes of electronic payment systems,
it is revealed that it is quite difficult, if not impossible, to suggest that which
payment system is best. Some systems are quite similar, and differ only in some
minor details. Thus there are number of factors which affect the usage of e-
commerce payment systems. Among these entire user base is most important
success of e-commerce payment systems also depends on consumer
preferences, ease of use, cost, industry agreement, authorization, security,
authentication, non-refutability, accessibility and reliability and anonymity and
public policy.

(Source: https://www.ijera.com/papers/Vol5_issue2/Part%20-%201/M502017987.pdf)

18
 2. Current and Future Scenario of E–Payment System in
India
(International Journal of Business Management)
Available at www.ijbm.co.in
ISSN NO. 2349-3402
VOL. 2(1), 2015
1. Rajinder kaur 2. Rupinder kaur

The electronic payment system is on online based system. The emergence of e-

commerce has created new financial needs that in many cases cannot be
effectively fulfilled by the traditional payment systems. Recognizing this,
virtually all interested parties are exploring various type four categories: Online
Credit Card Payment System, Online Electronic Cash System, Electronic
Cheque System and Smart Cards based Electronic Payment System. This
system is managed by reserve bank of India(RBI) .It is doing its best to
encourage alternative method of payment which will bring security and
efficiency to payment system .In future Electronic Payment Industry has an
extensive potential for growth considering the growth of Internet.

(Source: http://www.ijbm.co.in/downloads/vol2-issue1/33.pdf)

19
 3. Analysis on Online Payment Systems of E-commerce

Wenjing Yang
Bachelor’s Thesis
Autumn 2017
Business Information Technology
Oulu University of Applied Sciences

With the rapid development of science, computer and network technology,

electronic-commerce (e-commerce) has become a routine part of human life
because it is convenient for customers, particularlyS in Business to Customer
(B2C) commerce. The customer can place orders at home and thus save time.
Online payment systems have a very important role in e-commerce and they are
used to complete e-commerce transactions.
The purpose of this thesis is to introduce current state, the challenges and future
expectations of online payment systems in China and Europe and especially in
Finland. The theoretical background discusses history of e-commerce, the
current situation of e-commerce and the methods of online payment systems
used in e-commerce in Europe and China. In the research section, various types
of customer opinions of online payment are studied by using questionnaire
survey.

The results of the research show that nowadays online payment systems are
popular. All the respondents have experience on online payments. Debit card
(Visa or MasterCard) and Net Bank are the most popular online payment
systems, not only in Europe but also in China and other countries. The second
one is third-party online payment systems. PayPal is more popular in Europe.
The two main factors contributing to choosing online payment system are
convenience and the quickness of transaction. Technical problems and
vulnerability to cyber-crime are the main pros of online payment system.

(Source:http://www.theseus.fi/bitstream/handle/10024/139600/Yang_Wenjing.pdf?seque
nce=1&isAllowed=y)

20
 4. E-Commerce and Online Payment in the Modern Era

(International Journal of Advanced Research in Computer Science and Software

Engineering)

Volume 7, Issue 5, May 2017

1. Momin Mukherjee 2. Sahadev Roy

Face-to-face exchange of goods between the two sides conducted before the
beginning of recorded history. Always there are some security problems in
traditional payment system. After that electronics payments system brought out
a huge revolution. Though modern technology digital documents can be copied
perfectly, duplicate signature of anybody is possible. Name of the Buyers can be
linked with each payment, to eliminate the secrecy of money. Without proper
and high-quality security system somehow e-commerce will not work anymore.
On the other hand a very well designed electronics payment system can
provides high label security then the traditional payment. In this article we
discussed about the different process, benefits, and security related issue of
electronic payment system.

(source:https://www.researchgate.net/publication/318930849_E
Commerce_and_Online_Payment_in_the_Modern_Era)

21
 5. A Survey on E-Payment Systems: Elements, Adoption,
Architecture, Challenges and Security Concepts
(Indian Journal of Science and Technology June 2017)

1. Muddassir Masihuddin 2. Burhan Ul Islam Khan

Objectives: This paper is aimed at investigating and increasing awareness about

various concepts related to Electronic Payment Systems (EPS) including its
advantages, challenges and security considerations. The proposed study also
evaluates the adoption of e-payment systems and the resulting impact on
economy of a nation.

Methods/Statistical Analysis: In this paper, a comprehensive survey on all the

aspects of electronic payment was conducted after analysis of several research
studies on online payment systems. The most recent references and information
have been explored in order to gain significant information about electronic
payments systems.

Findings: From the study conducted, it can be elucidated that despite various
issues that usage of electronic payment systems pose, these are identified as a
positive step towards the economic development of a nation. Nevertheless, its
full potential can be realized only by raising its awareness among people.

Applications/Improvements: With the advancement in technology and

popularity of Internet, the perception of making online transactions is bound to
gain momentum. In the future, the payment modes currently used and supported
shall see a declining trend owing to the numerous benefits offered by electronic
payment systems.

(Source:https://www.researchgate.net/publication/318111118_A_Survey_on_E-
Payment_Systems_Elements_Adoption_Architecture_Challenges_and_Security_Conce
pts)

22
 6. The Study of Electronic Payment Systems
(International Journal of Advanced Research in Computer Science and
Software Engineering)
Volume 6, Issue 7, July 2016

-Mamta

-Prof. Hariom Tyagi

-Dr. Abhishek Shukla

Electronic payments are financial transactions made without the use of paper
documents such as cheques. Electronic payments include debit card, credit card,
smart card, e-wallet, e-cash, electronic cheques etc. E-payment Systems have
received different acceptance level throughout the world; some methods of
electronic payments are highly adopted while others are relatively low. This
study aimed to identify the issues and challenges of electronic payment systems
and offer some solutions to improve the e-payment system quality.

(Source:http://ijarcsse.com/Before_August_2017/docs/papers/Volume_6/7_
July2016/V6I7-0135.pdf)

23
 7. A Study on the Perception of Customers towards E-
Commerce and E-Payments in Local Survey

(MIT- SOM PGRC KJIMRP Vol. 1 – Issue 01)

Mrs. R. Kavitha*, Thushar. S**, Raameshwar. S***, Sanjai. J****

Electronic commerce or e-commerce refers to a wide range of online business

activities for products and services or the transmission of funds or data over an
electronic network. A variety of applications are used in conducting the e-
commerce such as online shopping, carts and catalogs, electronic data
interchange. The trust in E-commerce mainly depends upon the online payment
system which allows a customer to make payment to the online merchant or
service provider. Consumers are becoming more and more comfortable in
making online transactions and are concerned about conducting electronic
business transactions and the risks involved that have a vital impact on the
transition of electronic business. Increasingly more consumers are migrating to
Electronic-commerce to make electronic bill payments, to pay for information
online, to purchase products, services. This paper deals mainly with consumers’
willingness to conduct Electronic-commerce and their knowledge of the
security measures used in online transactions. This study reveals the customer’s
perception towards e-commerce and e-payments. The study is conducted among
100 respondents and a description of the research process is provided. The
major factors and interpretations are then discussed, providing a clear picture of
the findings, after which the conclusion of the study is drawn.

(Source:https://www.google.com/url?sa=t&rct=j&q=&esrc=s&source=web&cd=7&
ved=2ahUKEwi_7ubs5LfAhVLu48KHeDDBjgQFjAGegQIBBAC&url=http%3A%
2F%2Fkhoj.mitsom.edu.in%2Findex.php%2FKHOJ%2Farticle%2Fdownload%2F
107480%2F75717&usg=AOvVaw3GmFfXhbB5RY1VDNfCW1OP)

24
 8. Determinants of Customers’ Acceptance of Electronic
Payment System in Indian Banking Sector – A Study
(International Journal of Scientific & Engineering Research, Volume 5,
Issue 1, January-2014)
- Sanghita Roy, Dr. Indrajit Sinha

Internet is perhaps one of the most important tools to businesses and individuals
in the recent world economy. Globalization, financial liberalization and
technology revolution have opened the door of new and more efficient delivery
and processing channels as well as more innovative product and services in
banking industry. With increased educational qualification and growing wealth
consumers’ need and expectations are continually changing and they are
involving themselves more and more in their financial decisions. After
deregulation and reforms in Indian Banking scenario payment systems like
Debit Card, Credit Card, ECS, EFT, RTGS, NEFT have offered variety of
services to the customers. Despite the growth of electronic payment system over
physical check-based system, its rate of adoption in India especially in Metro
cities like Kolkata has been relatively slow. Its slow adoption rates raise many
questions.. The aim of the study is to determine the factors influencing
consumer’s adoption on the light of Technology Acceptance Model. Survey
based questionnaires are designed and Factor Analysis is used to find reliable
and consistent factors. Proposed model illustrates the level of fulfillment of each
acceptance factors and therefore predicts its adoption and indicates areas of
improvement

(Source:https://www.ijser.org/researchpaper/Determinants-of-Customers-Acceptance-
of-Electronic-Payment.pdf)

25
 9. The Effect of Electronic Payment on Customer Satisfaction
(Vol-3 Issue-3 2017)
-Dr. Nitin Gupta -Ms. Aditi Yadav
Retail electronic payment system has progressed in the recent years in various
countries. We find that India is no exception .Reserve Bank in its Vision
statement has set the objective to proactively promote electronic payments with
an objective towards cash less society. The formation of National Payments
Corporation (NPCI) in the year 2009 has set the stage for development of retail
electronic payments which offers enormous opportunity to move towards
cashless and less cash society. Using T test, with an objective to assess the
contribution of NPCI, we find that significant difference exist in products such
as electronic clearing, ECS (Debit), National Electronic Funds Transfer
(NEFT), and Card Products when we compare the period after formation of
NPCI and before formation of NPCI. Various innovative products, such as
Immediate Payment Services (IMPS), National Automated Clearing House
(NACH) and Prepaid Instruments (PPI), were launched after the formation of
NPCI. There is enormous opportunity since the ratio of retail electronic clearing
to systematically important payments such as Real Time Gross Settlement and
CCIL grew from 1 percent in the year 2005-06 to 3 present in the year 2013-
2014. I intend to discuss with you all about a silent revolution that has been
sweeping the country. It is about the payment systems in India. I said 'silent
revolution'. That is because, the payment systems have been evolving and
changes have been continuous over the last 35 years, it has rarely got noticed as
a revolutionary change. Let us see how it evolved and beneficially impacted
settlement of economic transactions of common persons and businesses and
how it is now poised for still larger impact.
(Source:http://ijariie.com/AdminUploadPdf/The_Effect_of_Electronic_Payment_Syste
m_on_Customer_Satisfaction_ijariie5639.pdf)

26
 10. A Study on Problems and Prospects of E-Payments in
Tirupur City, Tamilnadu
(Volume: 3 | Issue: 12 | Dec 2013 | ISSN - 2249-555X)
-S. NAMASIVAYAM
- M.PRAKASH
- G.BARANI KARUNAMBIGAI

Commerce (the trading of goods) has been a major impetus for human survival
since the beginning of recorded history and beyond. The mass adoption of the
Internet has created a paradigm shift in the way businesses are conducted today.
The past decade has seen the emergence of a new kind of commerce: e-
commerce, the buying and selling of goods through human-computer interaction
over the Internet. Business is done electronically and there is no longer a need
for physical currency or goods to conduct business. The success of electronic
commerce depends upon effective electronic payment systems. The focus of
this study is to identify and explain the problems and prospects of e-payments
.A number of solutions have been proposed based on the problem and discussed
on the prospects of electronic payment system.

Source:https://www.worldwidejournals.com/indian-journal-of-applied-
research-(IJAR)/file.php?val=December_2013_1385986185_cc62d_26.pdf)

27
 11. A Survey of Awareness about Security in E-payment
System
(International journal of Mechanical Engineering and Information
Technology)

-Deepak Mathur

E-commerce provides the capability of buying and selling products, information

and services on the Internet. In an e-commerce environment, payments take the
form of money exchange in an electronic form, and are therefore called
Electronic Payment. E-Payment system is secure, there should be no threat to
the user credit card number, smart card or other personal detail, payment can be
carried out without involvement of third party, It makes E payment at any time
through the internet directly to the transfer settlement and form E-business
environment. Studied have been carried out on E-Payment system. An efficient
payments system reduces the cost of exchanging goods and services, and is
indispensable to the functioning of the interbank, money, and capital markets.
Questions are related to E-Payment systems in which given options are agree,
disagree, strongly disagree, and strongly agree, Neutral. After analysis and
comparison of various modes of electronic payment systems, it is revealed that
it is quite difficult, if not impossible, to suggest that which payment system is
best. Some systems are quite similar, and differ only in some minor details.
Thus there are number of factors which affect the usage of e-commerce
payment systems.

(Source: https://igmpublication.org/ijmeit%20issue/v5-i3/1%20ijmeit.pdf)

28
 12. Customers Intention to Use Electronic Payment Systems
in India -A Study
(International journal of Arts, Humanities and management studies)

Radhika R*, & Dr. Florence John**,

Indian banking industry is gradually moving towards adopting the best practices
with a number of changes. Most of the banks have begun to take an innovative
approach towards Electronic Payment systems with the objective to reduce
cashless banking. The Various Innovations in Banking through payment
systems are Debit and Credit cards, Electronic clearing services (ECS), National
Electronic fund transfer (NEFT), Immediate Payment Service (IMPS), Real
time gross settlement (RTGS) and many more. The present article focuses on
the changing Banking trends from paper based systems to Electronic payment
systems. This study analysed the awareness, usage and the benefits of using
electronic payment systems in banking with the help of primary and secondary
data collection. However, the findings can help the Indian commercial banks to
enhance the technological payment systems in order to improve the business
performance and economic growth.

(Source: http://ijahms.com/upcomingissue/06.12.2016.pdf)

29
 Research
Methodology

30
 Introduction

The term Research is used to describe an entire collection of information about

a particular subject. Research is defined as human activity based on intellectual
application in the investigation of matter. The primary purpose for applied
research is discovering, interpreting and the development of methods and
systems for advancement of human knowledge on a wide variety of scientific
matter of our world and the universe.

Research Methodology has many dimensions. It includes not only the Research
method but also considers the logic behind the methods used in the context of
the study. We know how important it is for our corporate clients to keep their
finger on the pulse of fluid market dynamics and stay on top of economic and
market trends. Research is simply the process of arriving as dependable solution
to a problem through the planned and systematic collection, analysis and
interpretation of data. “A careful investigation or inquiry especially through
search for new facts in any branch of knowledge”

The main aim of research is to find out the truth which is hidden and which has
not been discovered as yet. Though each research study has its own purpose, we
may think of research objective as falling into a number of following broad
groupings:

 To gain familiarity or achieve a new insight toward a certain topic

 To verify and test important facts
 To analyse an event and process
 To portray accurately the characteristic of particular individual, situation
or a group

31
 Problem Statement

In our fast moving world, people find it very difficult to manage their time on
fulfil their commitment. Payments are done through electronic interactive
communication channels. So everyone can complete their payment work very
smartly without wasting the time. This drives the people to utilize their time
effectively. The main purpose of this study is to know the Current scenario of
E-payments in Gujarat. From this study, problems of the respondents and the
facilities required by them can be known.

The problem statement is given as under:

“A research study on Current and Future Scenario of E-payment in

Gujarat.”

Scope of the Study

The project has been undertaken with a view of studying the “A research
study on Current and Future Scenario of E-payment in Gujarat”. The
study was carried out to collect data from the respondents using a well framed
questionnaire. With the help of that the findings and suggestions have been
made.

32
 Objective of the Study

 To know about the current and future prospects of online payment system
to the customer.

 To know the factors that influences in E- Payments.

 To know the problems faced by the respondents.

 To analyse the satisfaction level of respondents.

 To find the problem and solution of electronic payment system on

individual customer.

 To makes the comparison between traditional and electronic payment

system.

 To identify consumers’ preference towards different websites.

 To examine the impact of transaction related factors including

convenience, security, costs, incentives and procedures on cashless
transactions in Gujarat.

33
 Research Design

Research design specifies the methods and procedures for conducting a

particular study. A research design is the arrangement of conditions for
collection and analysis of the data in a manner that aims to combine relevance
to the research purpose with economy in procedure. Research design is broadly
classified into three types as:

 Exploratory Research Design

 Descriptive Research Design
 Causal Research Design

I have chosen the exploratory research design.

34
 Data Sources

 Primary data

The study based mainly on Primary data. Primary data have been collected
through the issue of questionnaire to the customer in Jamnagar City. Personal
observations and discussions with the customers also helped to understand the
problems and prospects of E-Payments.

o For E.g. interview method, observation method, questionnaires, schedules

etc.

 Secondary data

Secondary Data are those which have already been collected by someone else
and which have already been passed through the statistical process.

o The literature review is a secondary data type. The source includes books,
periodicals, websites, and printed literature.
o For E.g. published data like in books, magazine, newspapers, internet,
past reports public reports etc.

35
 Data Collection Instrument

There are several methods of collecting date like,

Interview

Data
Observations Collection Experimentation

Method

Questionnaire

(Chart-2)

Here I have selected Questionnaire method for “A research study on

Current and Future Scenario of E-payment in Gujarat.”

36
 Sample Design

Sample Size:

The questionnaire was circulated to 100 respondents of various payments made

by the customers within Gujarat.

Sampling Method:

Random sampling Non Random sampling

Probability sampling is a sampling Nonprobability sampling is a
technique, in which the subjects of method of sampling wherein, it is
the population get an equal not known that which individual
opportunity to be selected as a from the population will be selected
representative sample. as a sample.
Sampling Methods
Simple Random sampling Judgement sampling
Stratified sampling Quota sampling
Cluster sampling Panel sampling
Multi-stage sampling Convenience sampling
Area sampling Snow ball
I have selected Non Random Convenience sampling method from the
above methods of samplings.
(Table-1)

Sample Unit:

People who resident within Gujarat.

37
Data Analysis
&
Interpretation

38
 1. Are you aware about the Electronic Payment?

Particular % Number of
Respondents
Yes 98% 98
No 2% 2
Total 100% 100
(Table-2)

2%

Yes
No

98%

(chart-3)

Interpretation:

Form the above chart, we can analyse it as out of 100 respondents 98

respondents are aware about the Electronic Payment. So we can say
that the use of electronic payment in Gujarat is increased day by day.

39
 2. Which are the areas that you getting Awareness about e-
payment?

Particular % Number of
Respondents
Advertisement 53% 53
Friends 39% 39
Relative 8% 8
Others - -
Total 100% 100
(Table-3)

8%
Advertisement
Friends
39% 53% Relative
Others

(Chart-4)

Interpretation:

Form the above chart, we can analyse it as out of 100 respondents 53

respondents getting Awareness about e-payment through
advertisement. So we can say that in Gujarat more people getting
information of E-payment through the advertisement. And second
major source of getting awareness about e-payment in Gujarat is
friends of respondents.

40
 3. Which online payment do you know?

Particular % Number of
Respondents
Credit Card 56% 56
E-wallet 78% 78
Smart card 30% 30
Direct debit 52% 52
All 2% 2
(Table-4)

All 2%

Direct debit 52%

Smart card 30%

E-wallet 78%

Credit Card 56%

0% 20% 40% 60% 80% 100%

(Chart-5)

Interpretation:

From the above chart, we can analyse it as out of 100%

respondents 78% respondents know the use of E-wallet. So
we can say that the respondents in Gujarat are more used of e-
wallet for online payment. As per the respondents opinion
awareness of smart card is less compered to e-wallet.

41
 4. Which online Payment do you used regularly?

Particular % Number of
Respondents
Paytm 93% 93
Google Pay 43% 43
MobiKwik 10% 10
Phonepe 25% 25
Freecharge 15% 15
Amazon pay 34% 34
Yono SBI 1% 1
Other 1% 1
(Table-5)

Other 1%
Yono SBI 1%
Amazon pay 34%
Freecharge 15%
Phonepe 25%
MobiKwik 10%
Google Pay 43%
Paytm 93%

0% 20% 40% 60% 80% 100%

(Chart-6)

Interpretation:

From the above chart, we can analyse it as out of 100%

respondents 93% respondents used Paytm regularly for online
payment. And second major use for online payment is google pay as
per respondent’s opinion.

42
 5. How much do you spend via online payment monthly?
(% of your Expense)

Particular % Number of
Respondents
Less than 10% 31% 31
11% to 25% 42% 42
26% to 50% 18% 18
51% to 75% 7% 7
More than 75% 2% 2
(Table-6)

More then 75% 2%

51% to 75% 7%

26% to 50% 18%

11% to 25% 42%

Less then 10% 31%

0% 10% 20% 30% 40% 50%

(Chart-7)

Interpretation:

From the above chart, we can analyse it as out of 100 respondents 42

respondents are 11% to 25% spend via online payment monthly. The
main reason of low online transaction in Gujarat is people more
believed in cash transaction. But as per current scenario of India is
people transfer to digital India.

43
 6. Which is more important to you in e-payment
CONVENIENCE or PRIVACY?

Particular % Number of
Respondents
Convenience 5% 5
Privacy 31% 31
Both are equally important 64% 64
Neither - -
Total 100 100
(Table-7)

5%

Convenience
31%
Privacy
Both are equally important
64% Neither

(Chart-8)

Interpretation:

From the above chart, we can analyse it as out of 100 respondents 64

respondents believed that in E-payment transaction Convenience and
Privacy both are equally important. So we can say that in e-payment
transaction only convenience or only privacy is not important as per
the respondent’s opinion both are equally important.

44
 7. What are the reasons for not using E-payment?

Particular % Number of
Respondents
Lack of Security and Safety 69% 69
Cyber Crime 35% 35
Hacking Problems 57% 57
Problem of Internet 19% 19
Connection 9% 9
Charges of Online Transaction 42% 42
Lack of Infrastructure 7% 7
Illiteracy 10% 10
Lack of Incentives 7% 7
(Table-8)

Lack of Incentives 7%
Illiteracy 10%
Lack of Infrastructure 7%
Charges of Online Transaction 42%
Connection 9%
Problem of Internet 19%
Hacking Problems 57%
Cyber Crime 35%
Lack of Security and Safety 69%

0% 10% 20% 30% 40% 50% 60% 70% 80%

(Chart-9)

Interpretation:

From the above chart, we can analyse that more people in Gujarat
believed that the main reasons for not using e-payment are Lack of
security & safety, Hacking Problem and Charges of online
transaction. So we can say that these reasons are affected to
respondents for not using E-payment.

45
 8. What are the factors that responsible for increasing usage
of E-payment?

No. Questions Strongly Agree Neutral Disagree Strongly

agree disagree
1 E-Payment System saves your 76 17 4 3 0
time and money.
2 It provides a legal record of 27 61 10 2 0
business communications.
3 A greater choice for consumer 22 45 27 5 1
and merchant in the way they
send and receive payment.
4 The trend is buying goods and 14 60 18 5 2
services over the internet from
online shop.
5 E-Payment provides greater 33 44 17 3 2
freedom to individual in paying
their taxes, licenses, fee, funds
etc.
6 Hacker can access to digitized 14 55 25 1 4
information and record of E-
payment.
(Table-9)

80 76

70
61 60
60 55
Strongly agree
50 45 44
Agree
40 33 Neutral
30 27 27 25
22 Disagree
17 18 17
20 14 14 Strongly disagree
10
10 4 3 5 5 3 2 4
0 2 0 1 2 1
0
1 2 3 4 5 6

(Chart-10)

46
Interpretation:

1. From the above chart, we can analyse that out of 100

respondents 76 respondents are strongly agree in E-Payment
System because it help to saves his time and money. So we can
say that it is very important factors compared to other factors
that responsible for increasing usage of E-payment.
2. From the above chart, we can analyse that out of 100
respondents only 27 respondents are strongly agree that usage of
e-payment is it provide legal records of business
communication. And 61 respondents are agree that e-payment
provides a legal record of business communications. So we can
say that in future it is very important factors that responsible for
increasing usage of E-payment.
3. From the above chart, we can analyse that out of 100
respondent’s majority of respondents are agree that e-payment is
a greater choice for consumer and merchant in the way they
send and receive payment. So we can say that day by day e-
payment transaction is increasing in Gujarat.
4. From the above chart, we can analyse that more number of
respondents are agree that The trend is buying goods and
services over the internet from online shop is increasing. So we
can say that e-commerce is very important factor that
responsible for increasing usage of E-payment.
5. From the above chart, we can analyse that majority of
respondents are agree and strongly agree that second major
important factor is E-Payment provides greater freedom to
individual in paying their taxes, licenses, fee, funds etc. so we
can say that this factor is responsible for incising usage of e-
payment.

47
 9. Do you think that using your mobile or making
cashless payments will increase the chances of
suffering from fraud or theft?

Particular % Number of
Respondents
Yes 53% 53
No 11% 11
Maybe 36% 36
(Table-10)

36%
Yes
No
53%
Maybe

11%

(Chart-11)

Interpretation:

From the above chart, we can analyse it as out of 100 respondents 89

respondents believe that using his mobile or making cashless
payments will increase the chances of suffering from fraud or theft.
This is biggest problem faced by respondents toward the use of e-
payment. So we can say that this thinks are decreasing the use of e-
payment.

48
 10. Sometime some hidden charges are there when doing
online transaction. Is that affects your online Purchasing
next time?

Particular % Number of
Respondents
Yes 79% 79
No 21% 21
(Table – 11)

21%

Yes
No

79%

(Chart – 12)

Interpretation:

From the above chart, we can analyse it as out of 100 respondents’ 79

respondents believe that sometime some hidden charges are there
when doing online transaction is that affects his online purchasing
next time. So we can say that some hidden charges are there when
doing online transaction that affect online purchasing next time by
respondents.

49
 11. Do you refer to use E-payment to others?

Particular % Number of
Respondents
Yes 80% 80
No 20% 20
(Table – 12)

20%

Yes
No

80%

(Chart – 13)

Interpretation:

From the above chart, we can analyses that out of 100 respondents 80
respondents refer to use E-payment to others. So we can say that this
thing help to increasing awareness about e-payment in Gujarat. And
also it increases the usage of e-payment in future.

50
 12. Satisfaction of the users towards usage of E-payment
services
Very satisfied Satisfied Neutral Dissatisfied Very
dissatisfied
30% 51% 18% 1% 0%
(Table – 13)

1% 0%

18%
30% Very satisfied
Satisfied
Neutral
Dissatisfied
Very dissatisfied
51%

(Chart – 14)

Interpretation:

From the above chart, we can analyses that out of 100 respondents
only 30 respondents are very satisfied and 51 respondents are satisfied
toward usage of E-payment services. So we can say that respondents
in Gujarat are more believed in cash transaction compared to online
transaction.

51
Hypothesis
Testing

52
 ANOVA (SINGLE FACTOR)

1.

H0: There is no significant difference between the opinions of different age

group with respect to factors responsible for increasing usage of E-payment.

H1: There is a significant difference between the opinions of different age group
with respect to factors responsible for increasing usage of E-payment.

Following are the factors that responsible for increasing usage of E-payment.

 E-Payment System saves your time and money

 It provides a legal record of business communications.
 A greater choice for consumer and merchant in the way they send and
receive payment
 The trend is buying goods and services over the internet from online
shop.
 E-Payment provides greater freedom to individual in paying their taxes,
licenses, fee, funds etc.
 Hacker can access to digitized information and record of E-payment.

Anova: Single Factor

SUMMARY
Groups Count Sum Average Variance
Column 1 9 177 19.66667 19.25
Column 2 67 1293 19.29851 9.151967
Column 3 21 425 20.2381 5.090476
Column 4 3 56 18.66667 4.333333

53
ANOVA
Source of
Variation SS df MS F P-value F crit
Between
Groups 16.48396 3 5.494653 0.607349 0.611824 2.699393
Within
Groups 868.506 96 9.046938

Total 884.99 99

Interpretation:

In this hypothesis, comparison has to be done between the opinions of different

age group with respect to factors responsible for increasing usage of E-payment.
As the comparison is between more than two samples, we preferred to apply
ANOVA (SINGLE FACTOR) TEST. From the above table, we can see that F-
calculation vale i.e. - 0.607349 is less than F-critical value i.e.-20699393 so null
hypothesis is accepted and alternate hypothesis is rejected. Hence, we can say
that there is no significant difference between the opinions of different age
group with respect to factors responsible for increasing usage of E-payment.

54
 ANOVA (SINGLE FACTOR)

2.

H0: There is no significant difference between the opinions of different % level

of monthly expenses via online payment with respect to factors responsible for
increasing usage of E-payment.

H1: There is a significant difference between the opinions of different % level

of monthly expenses via online payment with respect to factors responsible for
increasing usage of E-payment.

Following are the factors that responsible for increasing usage of E-payment.

 E-Payment System saves your time and money

 It provides a legal record of business communications.
 A greater choice for consumer and merchant in the way they send and
receive payment
 The trend is buying goods and services over the internet from online
shop.
 E-Payment provides greater freedom to individual in paying their taxes,
licenses, fee, funds etc.
 Hacker can access to digitized information and record of E-payment.

Anova: Single Factor

SUMMARY
Groups Count Sum Average Variance
Column 1 31 592 19.09677 7.623656
Column 2 42 832 19.80952 4.304297
Column 3 18 367 20.38889 4.369281
Column 4 7 129 18.42857 38.28571
Column 5 2 31 15.5 112.5

55
ANOVA
Source of
Variation SS df MS F P-value F crit
Between
Groups 63.31207 4 15.82802 1.829989 0.129427 2.467494
Within
Groups 821.6779 95 8.649241

Total 884.99 99

Interpretation:

In this hypothesis, comparison has to be done between the opinions of different

% level of monthly expenses via online payment with respect to factors
responsible for increasing usage of E-payment. As the comparison is between
more than two samples, we preferred to apply ANOVA (SINGLE FACTOR)
TEST. From the above table, we can see that F-calculation vale i.e. 1.829989 is
less than F-critical value i.e.- 2.467494 so null hypothesis is accepted and
alternate hypothesis is rejected. Hence, we can say that there is no significant
difference between the opinions of different % level of monthly expenses via
online payment with respect to factors responsible for increasing usage of E-
payment.

56
 Findings
&
Suggestions

57
 Findings

 98 % of the respondents are aware about e-payment.

 53% of the respondents getting Awareness about e-payment through
advertisement.
 78% of the respondents know the use of e-wallets for online payment.
 93% of the respondents preferred use paytm wallet regularly.
 42% of the respondents are spending via online payment 11% to 25%
monthly.
 64% of the respondents believed that in E-payment transaction
Convenience and Privacy both are equally important.
 69% of respondents are believed that the main reason for not using e-
payment is Lack of security & safety.
 76% respondents are strongly agreed in E-Payment System because it
helps to saves his time and money.
 61% respondents are agreeing with the statement that e-payment
provides a legal record of business communications.
 45% of the respondents are agree with the statement that e-payment is
a greater choice for consumer and merchant in the way of send and
receive payment.
 60% respondents are agree with the statement that The trend is buying
goods and services over the internet from online shop is increasing.
 44% respondents are agree with the statement that E-Payment
provides greater freedom to individual in paying their taxes, licenses,
fee, funds etc.
 55% respondents are agreeing with the statement that Hacker can
access to digitized information and record of E-payment.
 89% respondents believe that using his mobile or making cashless
payments will increase the chances of suffering from fraud or theft.

58
 79% respondents believe that sometime some hidden charges are there
when doing online transaction is that affects his online purchasing
next time.
 80% respondents refer for the use E-payment to others.
 30% respondents are highly satisfied and 51% respondents are
satisfied for the usage of E-payment services.

59
 Suggestions

 Risk perception for online payment should be reduced.

 Organised seminar that help for creating awareness about e-payment
services.
 Increasing safety and security for e-payment transaction.
 Customers are now using so many social networking websites so online
payment services should advertise their products in social networking
websites.
 To make online shopping more preferable, online sellers should make
design of website more attractive so people more converted to online
payment.
 As discount offers are more influential factor in online payment decision,
promotional efforts by company should be more on discount offers.

60
 Limitation of the Study

There are always some drawbacks or hidden faults found in any kind of
activity we perform. Following are some noted limitations for my
research study:

 The study cannot give the accurate results because the sample size is very
small.
 No human being is perfect so there are some un-noticeable mistakes
while conducting survey.
 The project was time bound, so research was limited.
 Respondent may not have given bias free answer.
 Data analysis and interpretation done may not be that strong due to small
sample.

61
Conclusion

62
 Conclusion

On the basis of the present study concludes that due to online payment more
customers are satisfied. This research explicitly indicates that online payment is
effective.

Maximum respondents from Gujarat prefer online payment through paytm.

People like to done online payment through paytm as compared to others.
Discount offers effects more to customers in online payment.

As per respondents opinion Privacy and convenience both are equally important
for online payment.

63
 QUESTIONNAIRE
I Chintan Kodinariya and Parag Akbari students of JVIMS MBA College, Jamnagar is
carrying out the project entitled on “Current and Future Scenario of E-payment in
Gujarat”. All information provided in this survey will no means reflect the identity of
the participants. It will be kept strictly confidential and will be used merely for
academic purposes. Please Make () your response to indicate your preference.

1. Name: ___________________

2. Gender:
Male Female

3. Age Group:

Below 20 Years

21 to 30 Years

31 to 40 Years
Above 40 Years

4. Educational Qualification:
SSC
HSC
Graduate
Post Graduate
Other

64
5. Are you aware about the Electronic Payment?
Yes No

6. Which are the areas that you getting Awareness about e-payment?
Advertisement
Friends
Relative
Others

7. Which online payment do you know? (Multiple Choice)

Credit Card
E-wallet
Smart card
Direct debit
Other___________

8. Which online Payment do you used regularly? (Multiple Choice)

Paytm
Google Pay
MobiKwik
Phonepe
Freecharge
Amazon pay
Other_________

65
9. How much do you spend via online payment monthly? (% of your
Expense)
Less than 10 %
11% to 25%
26% to 50%
51% to 75%
More than 75%

10.Which is more important to you in e-payment CONVENIENCE or

PRIVACY?
Convenience
Privacy
Both are equally important
Neither

11. What are the reasons for not using E-payment?

Lack of Security and Safety

Cyber Crime
Hacking Problems
Problem of Internet
Connection
Charges of Online Transaction
Lack of Infrastructure
Illiteracy
Lack of Incentives

66
 12. What are the factors responsible for increasing usage of E-payment?

Questions Strongly Agree Neutral Disagree Strongly

agree disagree

E-Payment System saves your

time and money.

It provides a legal record of

business communications.
A greater choice for consumer
and merchant in the way they
send and receive payment.

The trend is buying goods and

services over the internet from
online shop.

E-Payment provides greater

freedom to individual in paying
their taxes, licenses, fee, funds
etc.
Hacker can access to digitized
information and record of E-
payment.

13. Do you think that using your mobile or making cashless payments
will increase the chances of suffering from fraud or theft?
Yes
No
I don’t know
67
 14.Sometime some hidden charges are there when doing online
transaction. Is that affects your online Purchasing next time?
Yes
No

15.Do you refer to use E-payment to others?

Yes
No

16. Satisfaction of the users towards usage of E-payment services

Strongly agree Agree Neutral Disagree Strongly disagree

Thank You….

68
 Bibliography
 BOOKS:
 Kothari CR., “Research methodology, methods and techniques”,
second Edition, new age international publisher, New Delhi.
 Schiffman, Kanuk& Ramesh Kumar. Consumer Behaviour, 10th
Edition, New Delhi, Pearson. Year of publication 2010.
 Kotler, Philip. Marketing Management, 13th Edition, New Delhi,
Dorling Kindersley (India) Pvt. Ltd. Year of Publication 2009.

 WEB SITES:
 www.globenewswire.com
 www.reuters.com
 www.worldwidejournals.com
 www.securionpay.com
 www.researchgate.net
 www.researchgate.net

69