Consumer’s Usage and Satisfaction Towards Using Digital Payment System.

Abstract

The post-demonetization phase in India has triggered more cashless transactions; a shortage of cash in the system had forced consumers to shift themselves from cash to cashless transactions. In the retail space, the thrust has shifted on costs, as banks continued their efforts towards migrating customers to lower-cost electronic and automated channels to reduce human intervention. On the contrary, it is also vital to check the customers’ demographic impact on the usage of digital payment services. The objective of the study is to analyse the changing customer dynamics and improve the customer experience from the outcome. This article aims to investigate the impact of demographic factors on consumer usage (CU) of Digital payments during post-demonetization. Further, exploring the impact of demographic factors (gender, age, education, marital status and income) on usage of digital payment systems and feedback form of 445 respondents towards various digital payment methods in Delhi NCR area of India has been collected for the study. The results show a significant impact of age, education, occupation, and income of respondents on the usage of digital payments. The outcomes of the current work revealed useful insights into consumer’s usage and satisfaction via demographic factors. This study is significant as it empirically examines the impact of demographic factors on the usage of digital payment systems during the post-demonetization period in India.