Payment Banks: Changing Indian Payments Landscape

Shah, S., & Mehta, N. (December 2019). Payment Banks: Changing Indian Payments Landscape. SAMVAD: SIBM Pune Research Journal. Vol XIX, 12-19.

8 Pages Posted: 19 Aug 2020

See all articles by Dr. Neha Mehta

Dr. Neha Mehta

L. J. Institute of Management Studies; L J Institute of Management Studies

Sweety

L.J. Institute of Computer Applications - LJ Institute of Management Studies (LJIMS)

Date Written: December 2019

Abstract

The banking system and financial transactions have taken paradigm shift in recent decade in India. The present era has entered into smartphone to smart wallet and they have become mainstream mode of online payment. Mobile users use digital payment gateway and e-commerce applications to facilitate financial transactions to online retailers and e-businesses. Demonetization has also envisaged progressive shift to cashless economy. The study was conducted to find out the dimensions and impact of various demographic factors on the usage of payment banks in the Ahmedabad district of Gujarat. The payment banks show a rapid growth and 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. It is observed that most of the people use Paytm, Freecharge and Jio money payment banks to transact and awareness has impact on the usability of payment banks for bill payment, recharge, ticket booking and shopping. Considering the demographic factors and its impact on the occupation, annual income and education on the usage of payment banks whereas age and annual income both impact the frequency of usage and average spending through payment banks.

Keywords: Demonetization, Electronic Payment, Payment Bank

JEL Classification: M20, M30, M31, M32, M38, M39, G2, G28, O3

Suggested Citation

Mehta, Neha and Mehta, Neha and Shah, Sweety, Payment Banks: Changing Indian Payments Landscape (December 2019). Shah, S., & Mehta, N. (December 2019). Payment Banks: Changing Indian Payments Landscape. SAMVAD: SIBM Pune Research Journal. Vol XIX, 12-19. , Available at SSRN: https://ssrn.com/abstract=3654960

Neha Mehta

L. J. Institute of Management Studies ( email )

Near Nagdev Kalyan Mandir
S. G. Highway
Ahmedabad, GA Gujarat 382210
India
9427630027 (Phone)

L J Institute of Management Studies

Near Nagdev Kalyan Mandir
Sarkhej Sanand Cross Road
Ahmedabad, Gujarat 382210
India

Sweety Shah (Contact Author)

L.J. Institute of Computer Applications - LJ Institute of Management Studies (LJIMS) ( email )

S. G. Highway
S. G. Highway
Ahmedabad, Gujarat 380015
India

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