Authors:
K. M. Chummar, B. J. Ronald, Anumolu Venkateswara Rao, Anil Kumar Vadlamudi

Addresses:
1,2Department of Commerce, Loyola College, Chennai, Tamil Nadu, India. 3Department of SAP Functional Architect, Quiddity Infotech, Texas, United States of America. 4Department of Application Service Delivery, Aryadit Solutions Inc., New Jersey, United States of America. chummarkm3@gmail.com1, 21uco232@loyolacollege.edu2, vanumolu@quiddityinfotech.com3, anilkumar.v@aryadit.com4

Abstract:

Electronic payment (e-payment) technologies have revolutionised financial transactions in the digital age, changing consumer purchasing behaviour. This study will evaluate e-payment uptake and customer behaviour to better understand the complex interaction between e-payment systems and consumer purchasing patterns. This study evaluates e-payment adoption's usage frequency, preferred methods, affecting variables, comfort level, barriers, and suggestion frequency using literature and empirical analysis. Mixed techniques use quantitative survey data and qualitative in-depth interviews. The research approach uses snowball sampling to gather a wide range of consumer opinions and experiences to examine consumer preferences and e-payment acceptance trends. The survey questionnaire asks about e-payment usage, preferred methods, decision factors, comfort, challenges, and willingness to recommend e-payment systems. E-payment system familiarity, convenience, security, rewards, and merchant acceptance influence consumer choices, according to early study. Although simplicity drives adoption, security concerns and reward availability also affect customer preferences. Technology and e-payment system distrust may also hinder adoption. E-payment system effects on customer purchase decisions are added to the data pool by the study. This research clarifies the factors that affect e-payment acceptance and usage trends, helping firms, governments, and financial institutions enhance their e-payment services and customer experience in the digital marketplace. 

Keywords: Consumer Buying Behaviour; E-Payment Systems; Security and Snowball Sampling; Merchant Acceptance; Global Financial Ecosystem; Technological Difficulties; Digital Finance; Information and Communication Technology.

Received on: 12/08/2023, Revised on: 07/10/2023, Accepted on: 22/11/2023, Published on: 28/12/2023

FMDB Transactions on Sustainable Social Sciences Letters , 2023 Vol. 1 No. 4, Pages: 230-238

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