Factors affecting the use of mobile payments among educated urban population: An indian perspective

Abstract

Mobile payments usage is encouraged by the Indian government by creating many schemes to increase the adoption rate. This study is aimed at finding factors that have a significant impact on the frequency of mobile payments usage. This study is empirically validated by collecting data from participants through an online survey. The data were analyzed using chi-square analysis, ANOVA and multinomial logistic regression. The result shows that males and younger population use mobile payments more frequently. Percentage of men who used mobile payments more than 7 times a month was twice higher than the female percentage. There is a significant difference in mean values of perceived usefulness index and ease of use index across age groups. In addition, there is a statistically significant relationship between convenience to use and frequency of mobile payments. These findings can be used by the third party mobile payment companies, managers of those businesses who deal with online payments, banks, and the state level policymakers, in order to create strategies increasing usage of mobile payments and making it safe and convenient.