CONSUMERS’ PERCEPTION ABOUT THE DIGITAL PAYMENT SYSTEM WITH REFERENCE TO RISK & BENEFITS

Abstract

The main objective of this study is to analyze the perception of consumers about digital payment systems in terms of risks and benefits. This study is important for non-banking digital wallet operators in India. It provides them with feedback from customers about the adoption of non-banking digital wallets. It will also help them to maintain digital wallet services. It provides a way towards improving their services. This in turn will guide them towards improving their services and reducing the risk of adoption. This study is important for researchers academicians and management students who are interested to know the level of adoption of digital wallets in Meerut region. Perceived risk and preference were both found to have a low degree of positive relation in adoption of wallet in Meerut region. A consumer adapts a wallet only in case if he/she finds the risk factor less in it. Wallet operating companies need to invest in systems, which assure secured data transfer and reliability of sharing information, restricting negative system performance as well as leak of personal data.