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Buyers Attitude in Using Mobile Payment

 

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S.
Senthur Pandian,
Assistant
Professor,
Department
of Management Studies,
S.
Veerasamy Chettiar College of Engineering &Technology,
Puliyangudi
– 627 855.
[email protected]
+91-9677467393
 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Buyers Attitude in Using Mobile Payment

Abstract

Human beings have relied on some sort
of payment system to purchase the goods or services for their wants or
needs. Starting with the bartering system, humans began to use livestock,
grain, shells, metal coins, pieces of white deerskin, the wampum, gold, the
gold-backed dollar, charge cards, credit cards, the U.S. dollar and, most
recently, electronic payments. If there has been one consistent theme regarding
the evolution of payments, it’s that we prefer payments that are convenient and
transactional. These preferences began to take shape in the early 20th century
with the introduction of the charge card. In the 21st century the
facility of Mobile Payment system were developed.  Originally
mobile payments is a kind of  mobile
services, like mobile banking, were the transaction of payment for purchasing
goods and services were made by the mobile application. Buyer’s perception is
the opinions, views, thoughts of buyers to using the option of mobile payment
application towards the payment system of their purchase. 

 

 (Keywords: 
Attitude, Buyers Opinion, Mobile
Applications, Mobile Payment, Perception.)

 

 

 

 

 

 

 

 

 

 

Buyers Attitude in Using Mobile Payment

1.1  Introduction:

Human beings have relied on some sort of
payment system to purchase the goods or services for their wants or needs.
Starting with the bartering system, humans began to use livestock, grain,
shells, metal coins, pieces of white deerskin, the wampum, gold, the
gold-backed dollar, charge cards, credit cards, the U.S. dollar and, most
recently, electronic payments. These preferences began to take shape in the
early 20th century with the introduction of the charge card. In the 21st
century the facility of Mobile Payment system were developed.

1.2  Indian
Payment System

Payment and settlement
systems in India are payment and settlement systems in India for
financial transactions. They are covered by the Payment and Settlement Systems
Act, 2007 (PSS Act), legislated in December 2007 and regulated by the Reserve Bank of
India and
the Board for Regulation and
Supervision of Payment and Settlement Systems.

India has multiple payments and settlement systems,
both gross and net settlement systems. For gross settlement India has a Real Time Gross
Settlement (RTGS)
system called by the same name and net settlement systems include Electronic
Clearing Services credit cards, debit cards, the National
Electronic Fund Transfer (NEFT) system and Immediate Payment
Service.

 

1.3  Evaluation
of Indian Payment System:

The Reserve Bank of India is doing its
best to encourage alternative methods of payments which will bring security and
efficiency to the payments system and make the whole process easier for banks.  Reserve Bank of India has developed an
innovative method of Payment facility.  Though the Indian payment systems have always
been dominated by paper-based transactions, e-payments are not far behind. Ever
since the introduction of Mobile payments in India, the banking sector has
witnessed growth like never before.  Paper
based transactions has considerably increased between 2004 and 2008. This has
happened as a result of advances in technology and increasing consumer
awareness of the ease and efficiency of internet and mobile transactions.  

Now available in the
iPhone 6, iPhone 6 Plus and Apple Watch, NFC (Near Field Communication) is poised
to play an important role in the way we use our phones, especially when it
comes to mobile payments. One day, we’ll all be paying for things with our
phones, and NFC is the ticket to that future. 

1.4  Mobile Payment:

·        
Airtel money
·        
Citrus pay
·        
Freecharge
·        
HDFC payzapp
·        
ICICI Pockets
·        
Jiomoney
·        
Juspay
 

·        
Moneyonmobile
·        
Pay mate
·        
Paytm
·        
Payumoney
·        
State bank buddy
·        
Vodafone m pesa
·        
Pay with amazon
 

Mobile Payment is an transfer
of money for buying a product or service the payment were made through the
mobile device, mobile money transfer, Mobile wallet under Payment and
Settlement Act 2007.  In the Mobile
Payment facility the user need to keep certain things for successful payment
like Mobile Phone Device, An Application which is required for transfer for in
the name of Transaction ID, and PIN (Personal Identity Number) for confirming
the payment to the receiver and to pay the sum of amount to their account.  Some of the leading Mobile Payment Partners
having Mobile Payment Application for the facility of Mobile Payment.

 

 

 

 

 

 

 

 

1.5 Attitude towards Use of Mobile Payment:

            Attitude is a feelings, behaviour of
an Individuals towards a specific objective. 
Here, the attitude refers with the individual feelings, opinion, about
the use of Mobile Payment facility.  There
are various factors were determining the attitude of an individuals like,
family, peer groups, educational level, economic background, age, and other
geographic factors.  When there is
introduction of new Technology in business there are three types of attitude
were formed.

1.      Early Adopters

2.      Hesitators

3.      Laggards

 

 

Early
Adopters are the persons who accept the newest things which are available in
market by immediately.  Were the facility
of Mobile Payment has been adopted by these people, they don’t have any
attitude towards using it.  By the stage
of Introduction of the technology they will use. 

 

Laggards
are the persons who does not like new things, and not ready to use the Mobile
Payment facility because of their own attitude beliefs with the traditional
practices of payments. Such a way they will not ready to use the mobile payment
facility. 

 

Hesitators
are the persons initially they will not ready to use the innovative things,
they happy with the existing practices which they follow, after certain time
they identify the features of new technology and switch over to new
technology.   

 

Factors Influencing the Attitude Formation:

 

            Buyers attitude towards use of Mobile Payment
facility is purely relates with the attitude of the buyer may be the individual
or Group.  It is how an individual has
their own view about the facility of Mobile Payment.  Every individual has their own view about the
specific object.  There are various factors
were influence the formation of attitude as follows,

Social Factors.

Social
factor are the things like social class, income group, family wealth, social
culture, values are the things were affect the individuals attitude towards an
objective were the high income group people were use the mobile payment
facility by frequently, middle income group usage would be moderate in using
mobile payments. 

Family.

Family is
most powerful source in forming attitude. 
 Here the parents, elder brothers,
sisters, and relatives in family provide various information about the things. 

Personal Experience.Media.EducationEconomic Status

 

 

 

 

 

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