Payment Banks: Digital Revolution in Indian Banking System
Mehta, N., & Shah, S. (2020). Payment Banks: Digital Revolution in Indian Banking System. International Journal of Management and Humanities (IJMH). ISSN: 2394 – 0913, Volume-4 Issue-6. pp. 110 - 115.
6 Pages Posted: 20 Aug 2020 Last revised: 2 Oct 2020
Date Written: 2020
Digital revolution in India has brought paradigm shift in the banking system and financial transactions due to online payment. Payment gateways, e-commerce applications and other benefits boost smartphone users towards digital transactions. This study focuses on identifying factors important for customers to use payment banks for transaction. The identified dimensions for the usage of payment banks are; user friendly, convenience, cost effectiveness, security and easy cash management. People look for the aforesaid factors while they transact through payment banks. To validate the factors and check the model fit, a confirmatory factor analysis was run using AMOS. The analysis confirms constructs convergent validity and reliability, and model fit.
Keywords: payment bank, electronic payment, confirmatory factor analysis, model fit
JEL Classification: M20, M30, M31, M32, M38, M39, G2, G28, O3
Suggested Citation: Suggested Citation