Turkish Journal of Computer and Mathematics Education Vol.12 No.11 (2021), 5813-5815
Research Article
5813
A Study on usage of digital payment system during covid 19
1Ms. P. Akilandeswari, 2Ms.Premalatha
1Assistant Professor, Dept of Commerce (Honours), Shri Shankarlal Sundarbai Shasun Jain College for women 2Assistant Professor, Dept of Commerce (Corporate Secretary ship), Shri Shankarlal Sundarbai Shasun Jain College for women
Article History: Received: 11 January 2021; Revised: 12 February 2021; Accepted: 27 March 2021; Published online: 10 May 2021
Abstract
The paper attempts to study about usage of digital payment system during covid 19 and analyze the factors influencing use of digital payment during this pandemic. According to the changing environment, trend and time, people have started using digital payments during the virus spread, and the majority continue to use it even after the virus is controlled. Digital payment System has played a major role in maintaining social distance and avoiding physical contacts.
Key words: Covid 19, digital payment, cashless transaction.
Introduction
Digital payment has been used not as much by most of the people in the world prior to covid 19.During intensifying dreads of Covid-19 spread, when the physical cash transactions have almost crashed, the digital payments came as complete reality. The lockdown has also brought many first-time customers who were earlier not very passionate on using digital payments mode for payments as now. Due to social distancing measures they need to pay online for procuring all the products intensely, the essentials. Nearly half of the international buyers were using digital payments during the pandemic. E-Wallets and contactless cards are the top payment systems furthering this change, as consumers use cashless and digital payment mode for purchases and payment.
Digital payment platforms have not only seen a gush in the number of transactions but the number of downloads of digital payment platforms have also almost doubled. Many e-retailer requested payments via digital tools, which is contactless and lessens risk of increasing corona virus. Besides the National Payments Corporation of India (NPCI) also advised people to use digital payment methods, so that people do not come out even to go to the ATM, decrease communal contact and control the spread of Covid-19. Objectives of the study
To identify the familiarity of digital payment mode before covid 19
To identify the customer perception on adoption of digital payment methods during covid19
To analyze the factors influencing the adoption of digital payment Methodology of the study
The study involves both Primary and Secondary Data. The secondary data is collected through books, journals and websites. Primary Data is collected by distributing 100 questionnaires to the respondents in Chennai city.
Hypotheses of the study
H01: There is no a significant relationship between Level of Perception towards Digital Payment System and Age of the respondents
H02: There is no significant relationship between the Familiarity of digital payment system before pandemic and Gender of the respondent
H03: There is no significance difference between the mean ranks of factors Factors influencing the adoption of Digital payment system
Review of Literature
Sudha.G.,Sornaganesh.V et al.(August 2020) focused on outbreak in digital payments during covid 19. Their results shows that there is a substantial variance between mode of payment before covid and during
Turkish Journal of Computer and Mathematics Education Vol.12 No.11 (2021), 5813-5815
Research Article
5814
covid 19. They also concluded that government has asked the banks to use digital payment system as a precautionary measure during covid 19Swapnil Undale, Ashish Kulkarni et al. (November 2020) had a study on perceived e wallet security an impact of covid 19. Their study showed that irrespective of the influential adoption; safety alarms are prevailing and on the rise. This is an alarm to developers and service providers that, although the use of E-Wallets increased exponentially during this COVID-19 pandemic, it is a forceful acceptance and not deliberate.
Impact of Covid on Digital payment system
The adverse effects of the COVID-19 pandemic are dripping down to major sectors of the Indian economy, like manufacturing, automobiles, retail stores, aviation industry and hospitality industry bearing the burden of the lockdown. This in turn has affected digital payments which are closely related to the aforesaid sectors. Shops were shut down, travel is banned and there is downfall in unrestricted spends by consumers for entertainment and tour are further negatively impacting digital payments.
Analysis and Finding
TABLE SHOWING THE RELATIONSHIP BETWEEN LEVEL OF PERCEPTION TOWARDS DIGITAL PAYMENT SYSTEM AND AGE OFTHERESPONDENTS
H01There is no a significant relationship between Level of Perception towards Digital Payment System and Age of the respondents
Ha1 There is a significant relationship between Level of Perception towards Digital Payment System and Age of the respondents
Table 1.1
Anova Table showing the association between Level of Perception towards Digital Payment System and Age oftherespondents
Particulars Sum of Squares Df Mean Square F- value P- Value Between Groups 66.169 3 22.056 2.380 0.042 Within Groups 904.198 97 7.795 Total 970.367 100
Source: Computed Data
Since the P value 0.042 is below 5% sig level (0.05) it is proved that null hypothesis is rejected. Hence there is a significant relationship between Level of Perception towards Digital Payment System and Age of the respondents
FRIEDMAN TEST ON FACTORS INFLUENCING ADOPTION OF DIGITAL PAYMENT SYSTEM
Table 1.2
Table showing the significant difference between the mean rank of factors influencing adoption of Digital payment system
PARTICULARS MEAN RANK RANK
Govt. recommendation 4.92 I
Avoiding Oral cash Transaction
4.79 II
Avoid direct contact with seller
4.64 III
Maintain Social distancing 4.55 IV
Convenience 4.53 V
Safe and Secure 4.49 VI
Time Saving 4.09 VII
Turkish Journal of Computer and Mathematics Education Vol.12 No.11 (2021), 5813-5815
Research Article
5815
From the above table it found that the recommendation by government for using digital payment is considered as most important factor influencing adoption of digital payment followed by avoiding oral cash transaction with mean rank of 4.79, avoiding direct contact with seller ranked 3rd with mean rank of 4.64 followed by maintenance of social distancing as rank 4 with mean score of 4.55 followed by convenience as rank 5th with mean rank of 4.53 followed by safety and security as rank 6 with mean score of 4.49 and time saving as least ranking with mean rank of 4.09.TABLE SHOWING THE DIFFERENCE BETWEEN GENDER OF THE RESPONDENTS AND LEVEL OF FAMILIARITY IN USAGE OF DIGITAL PAYMENT SYSTEM BEFORE COVID 19 H02: There is no variance between Gender of the respondents and Level of Familiarity of digital payment mode before covid 19.
Ha2: There is a variance between Gender of the respondents and level of Familiarity of digital payment mode before covid 19.
Table1.3
The Relationship between Gender of the Respondents and Level of Familiarity of digital payment mode
Particulars Levene’s test for
equality of variances t-testfor EqualityofMeans F Sig. T Df Sig.(2tailed) Level of influence Equal 3.977 .048 -4.073 118 .00 0 Variances assumed Equal Variances -4.076 117.178 .00 0 not assumed Source: Computed Data
Since the P-value is lesser than 0.05, the null hypothesis is rejected at 5% level of significance. There is significant relationship between the Familiarity of digital payment system before pandemic and Gender of the respondent.
Suggestions
Government has given suggestions to use online payments mode during thisCOVID-19 to avoid oral cash transaction and maintain social distancing. Cashless transactions will warrant lessening of COVID-19 spread and People feels safe and secure on using online payment mode during this COVID-19.
Conclusion
This study has been done with 100 respondents to know the perception of respondents towards adoption of digital payment method during covid 19. . The various aspects of the perception have been analyzed. According to the results, it is concluded that the perception of respondents towards adoption of digital payment method during covid 19 is fair and effective.
Reference
1.
Sudha.G, Sornaganesh.V, Thangajesu Sathish., Chellama A.V, Impact of Covid-19 Outbreak in Digital payments international journal for innovative research in multidisciplinary field ISSN: 2455-0620 Volume - 6, Issue- 8, Aug – 2020
