EXPLORING

OF MOBILE

Dissertation
USER SVWITCHING INTENTION
PAYMENT APPLICATIONS
STUDY
A -
in partial fulfillmentof therequirements for the
submitted
Awardof the Degree of

MASTER OF COMMERCE
From
UNIVERSITY OF MYSORE

OFMYsoR
NIVE
RsITY
Submitted
By
Mr. GANESHSB
Register CO010
No: P01FM21

Undertheguidance of
Mr. SUNIL S
ASSISTANT PROFESSOR OF COMMERCE

SRI H D DEVEGOWDA
-
GOVERNMENT
COLLEGE PADUVALAHIPPE
Recognized by UGCunder2() & 12(B)

2023
FIRST GRADE
SRI H D DEVEGOWDA
Department
Government

GOVERNMENT
Paduvalahippe, Holenarasipura (Tq)
(Reaccreditedby
of Karnataka

-
of Collegiate & TechnicalEducation
FIRST GRADE COLLEGE
573211
NAACB+' Gradewith2.96CGPA, 2() & 12(B), RUSAfundedCollege)

CERTIFICATE

This is to

SWITCHING
certify

-
that the Dissertationtitled «EXPLORING USER

INTENTION OF

APPLICATIONS A STDY" is anOriginal Workof Mr.GANESH SB

bearing Register

studentof Sri H D
No P01FM21C0010

Devegowda
MOBILE

M.Com.Is aBonafide
of IV Semester

GovernmentFirst Grade College

PAYMENT

Paduvalahippe. He has successfully completed his study in thepartial

fulfilment for the award of MASTER OF COMMERCE asPrescribedby
theUniversity of Mysore, Mysore during theacademic
year2022-2023.

It is hereby certifiedthathehascompleted theDissertationSatisfactorily.

PLACE: PADUVALAHIPPE PRINCIPAL

DATE:
 DECLARATION

I, GANESHS B hereby declare

thattheDissertation
titled"EXPLORING
USER SWITCHING INTENTION OF MOBILE PAYMENT

-
APPLICATIONS STUDY" is anoriginal workcarriedoutby me,under

the guidance of Mr. SUNIL S, AssistantProfessor, Sri H D Devegowda

GovernmentFirst GradeCollege Paduvalahippe is submittedto University of

Mysore in partial fulfilment of Requirement for theawardof degree of Master

of Commerce.

Ialsodeclare ontheoriginal studyundertaken

thatthisProject isbased by me

andhasnotbeensubmitted
for theawardof anydegree/diploma of University

of Mysore oranyotherUniversity.

PLACE: PADUVALAHIPPE GANESH SB

DATE: Reg. No: P01FM21C0010

 GUIDE CERTIFICATE

-
This is to

SWITCHING

A STUDY"is
certify

INTENTION
that the Dissertation titled "EXPLORING

OF MOBILE

prepared by

undermy Guidance
PO1FM21C0010

the awardof degree

PAYMENT

Mr. GANESHS BBearing

APPLICATIONS

in partial fulfilmentof Requirements for

of Masterof Commercefrom University
USER

Register

of Mysore. The
No

Matter presented in this report has not formed abasisfor the awardof any

ofUniversityofMysore
degree/diploma oranyotherUniversity.

PLACE: PADUVALAHPPE SUNILS

DATE: ASSISTANT PROFESSOR

 ACKNOWLEDGEMENT
andsupported me
Itakethisopportunity to thankthosewhohavecontributed on
successfulcompletion of dissertation.

I sincerely thankProf. G DNARAYANA, Principal, Sri H D Devegowda

FirstGradeCollege, Paduvalahippe.
Government

My Sincerethanksto Smt. VIDYA, Coordinator, Department of PG Studiesin

Commerce, Sri H D Devegowda GovernmentFirst GradeCollege, Paduvalahippe

for providing anopportunity in Successful

completion of thisDissertation.

My Heartfeltthanksto the guide Mr. SUNIL S, Asst.Professorof Commerce, Sri

HDDevegowda Government
FirstGradeCollege, Paduvalahippe for theconstant

guidance, support and motivationin completing this Dissertationandthereby

increasing my knowledge. His timeandeffortshaveindeedbeenveryfruitful.

I also extend ny heartfelt thanks to all the Staff of Sri H D Devegowda

FirstGradeCollege, Paduvalahippe.
Government

Iam
alsodeeply indebtedto GodAlmighty, myfamily members
andFriendswho

aredirectly orindirectly involvedin bringing outthisproject.

PLACE: PADUVALAHIPPE GANESH S B

DATE: Reg. No: P01FM21C0010

 EXECUTIVE SUMMARY

The title of the report is "EXPLORING USER SWITCHING INTENTION

OF MOBILE PAYMENT APPLICATIONS-A STUDY". This

report provides general informationaboutFinTech and payment apps,the

concept of FinTechappsand alist of FinTechapp profiles in India. It also
includesinformationthatcustomers
knowaboutFinTechandpayment appsthe
challenges facing FinTechandpayment appsamongtherespondents. Through
the following study, awareness
custonmer aboutFinTechandpayment appsin
Hassan wasfound.
A structuredquestionnairewasthe methodology adopted in the study. In
whichDifferentcategories of people were
targeted. In this study, I took a
sample of 120 people. Thedatacollectedat sample size120is thoroughly
analyzed anddisplayed in tabularandgraphical form.Thepresent study will
bring the intentionand challenges facedby customers
towardsFinTechand
payment appsandtheirawareness
andintentionto adopt FinTechandpayment
apps,services,andproducts in the future.Thecurrentstudy makesaneffortto
emphasize howclientsviewFinTechandpayment apps.Whatfactorsaffector
have animpact oncustomerawareness and intention if the answer to the
question "Are customersaware of and intend to adopt the servicesof Fintech
andpayment apps?" is "yes"? If not, whatfactorsinfluencecustomerawareness
andintention of theinvestigate onmight
negatively? The results provide an
answer
to thesequeries.
 TABLE OF CONTENT

CHAPTER NO CONTENT PAGE NO

1 INTRODUCTION 1-19

REVIEW OF LITERATURE AND

2 20- 35
RESEARCH DESIGN

5
RESPONDENTS

DATA ANALYSIS
INTERPRETATION

FINDINGS,
PROFILE

AND

SUGGESTIONS AND
43

89
--
36- 42

88

92
CONCLUSION

BIBLIOGRAPHY

ANNEXURES
 LIST OF TABLES
TABLE PAGE
TABLE NAME
NO NO
3.1 CITY OF THE RESPONDENTS 36
3.2 GENDER OF THE REPONDENTS 37
3.3 MARITAL STATUS OF THE RESPONDENTS 38

3.4 AGE OF THE REPONDENTS 39

EDUCATIONAL QUALIFICATION OF THE
3.5 RESPONDENTS 40

3.6 OCCUPATION OF THE RESPONDENTS 41

3.7 INCOME OF THE RESPONDENTS 42

4.1 BANK ACCOUNT HOLDERS 43

4.2 MOBILE PAYMENT APPLICATION USERS 44

FREQUENTLY USED MOBILE PAYMENT
4.3 APPLICATION 45

4.4 USAGE OFPAYMENTAPPSBY ITS CUSTOMER 46

AVERAGE MONTH FREQUENCY OF USING MOBILE

4.5 PAYMENT APPLICATION 47

4.6.1 AWARENESS ABOUTRECHARGE SERVICE 48

4.6.2 AWARENESS ABOUT TICKET BOOKING SERVICE 49

4.6.3 AWARENESS ABOUT COMMERCIAL BILLS 50
AWARENESS ABOUT HOUSE UTILITY BILLS SERVICE
4.6.4 51
AWARENESS ABOUT HOTEL B00KING SERVICE
4.6.5 52
AWARENESS ABOUT INSURANCE PREMIUM SERVICE
4.6.6 53
AWARENESS ABOUT TRANSFER OF FUNDS SERVICE
4.6.7 54
AWARENESS ABOUT PAY FOR FUEL AT PETROL
4.6.8 PUMPS SERVICE 55

AWARENESS ABOUT BANKING RELATED

4.6.9 56
TRANSACTION SERVICE
4.6.10 AWARENESS ABOUT PAY FOR LPG CYLINDER 57
SERVICE

4.7.1 RATING ON RECHARGE SERVICE 58

4.7.2 RATING ON TICKET BOOKING SERVICE 59
4.7.3 RATING ON COMMERCIAL BILLS SERVICE 60
4.7.4 RATING ON HOUSE UTILITY BILLS SERVICE 61
4.7.5 RATING ON HOTEL BOOKING SERVICE 62

4.7.6 RATING ON INSURANCE PREMIUM SERVICE 63

RATING ON TRANSFER OF FUNDS SERVICE 64

4.7.7
RATING ON PAY FOR FUEL AT PETROL PUMPS
4.7.8 SERVICE 65

4.7.9 RATING ON BANKING RELATED TRANSACTION

SERVICE 66

RATING ON PAY FOR LPG CYLINDER SERVICE 67

4.7.10
OPINION ON MORE CONVENIENT THAN BRANCH
4.8.1 BANKS 68

4.8.2 OPINION ON ENCOURAGES DIGITAL PAYMENTS 69

4.8.3 OPINION ON HELP IN CONTROLLING BLACK MONEY 70

4.8.4 OPINION ON SERVE THEIR CUSTOMERS 24X7 DAYS A 71

WEEK
4.8.5 OPINION ON PROVIDES INSTANT ALERT MESSAGES 72
IN CASE OF FRAUD AND SECURITY ISSUES
4.8.6 OPINION ON HELP IN REDUCING THE COMPLAINTS 73
OF THEIRCUSTOMERSIMMEDIATELY, IN TERMSOF
DELIVERY OF PRODUCTS AND SERVICES
4.8.7 OPINION ON PROVIDE NEEDFUL INFORMATION
74
ABOUT THEIR PRODUCTS, SERVICES, LATEST CASH
BACK OFFERS AND BENEFITS FROM TIME TO TIME
4.8.8 OPINION ON MORE TRUSTED BY MODERN YOUNG 75
GENERATION
4.8.9 OPINIONONPROVIDEFASTESTSERVICES
OF
TRANSFER OF FUNDS AND REMITTANCE OF 76

PAYMENTS SERVICES
4.8.10 OPINICONON MEET CASH REQUIREMENT OF THEIR 77
CUSTOMER EVEN AFTER THE BANK IS CLOSED
4.8.11 OPINION ON ABLE TO REACH THE REMOTE, RURAL
78
AREAS AND UNBANKED AREA TOMAKE THEM
ACCESSIBLE FOR BANKING FACILITIES
4.8.12 OPINION ON HELPS FOR FINANCIAL INCLUSION IN
THE ECONOMY BY OPENING BRANCHES, WHERE 79

TRADITIONALBANKS ARE NOT ABLE TO OPEN

THEIR BRANCHES
4.8.13 OPINION ON PROVIDE MUTUAL FUND AND
80
INSURANCE FACILITY AS MEDIATOR OF OTHER
BANKS
4.8.14 OPINION ON TRUST WORTHY IN TERMS OF 81

SECURITY, WITHDRAWAL, AVAILABILITY ETC

4.8.15 OPINION ON LOSS OF PHONE MAY LEAD TO LOSE OF 82
MONEY FROM THE ACCOUNT. HACKING IS VERY
EASY
4.8.16 OPINION ON POOR AVAILABILITY OF INTERNET
83
SERVICES
4.8.17 OPINION ON LACK OF AWARENESS ABOUT THE 84
PRODUCTS AND SERVICES

4.8.18 OPINION ON CASHBACK AMOUNT NOT DISPLAYED 85

DURING TRANSACTIONS

4.8.19 OPINION ON NO PROVISION OF CREDIT CARDS AS 86

WELL AS A LOAN FACILITY
4.8.20 OPINION ON THESE BANKS ARE NOT A 87
REPLACEMENT OF TRADITIONAL BANKS

4.8.21 OPINION ON SERVE AS BUSINESS CORRESPONDENTS 88

(BCS) FOR SELLING PRODUCTS AND SERVICES OF
COMMERCIAL /TRADITIONAL BANKS
 LIST OFCHARTS
CHART PAGE
CHART NAME
NO NO

3.1 CITY OF THE RESPONDENTS 36

3.2 GENDER OF THE REPONDENTS 37
3.3 MARITALSTATUSOF THERESPONDENTS 38
3.4 AGE OF THE REPONDENTS 39
EDUCATIONAL QUALIFICATION OF THE
3.5 40
RESPONDENTS
3.6 OCCUPATION OF THE RESPONDENTS 41

3.7 INCOME OF THE RESPONDENTS 42

4.1 BANK ACCOUNT HOLDERS 43
4.2 MOBILE PAYMENT APPLICATION USERS 44

FREQUENTLY USED MOBILE PAYMENT

4.3 45
APPLICATION
4.4 USAGE OF PAYMENT APPS BY ITS CUSTOMER 46

AVERAGE MONTH FREQUENCY OF USING MOBILE

4.5 PAYMENT APPLICATION
47

4.6.1 AWARENESS ABOUT RECHARGE SERVICE 48

AWARENESS ABOUT TICKET BOOKING SERVICE
4.6.2 49
4.6.3 AWARENESS ABOUT COMMERCIAL BILLS 50

AWARENESS ABOUT HOUSE UTILITY BILLS

4.6.4 51
SERVICE
AWARENESS ABOUT HOTEL BOOKING SERVICE
4.6.5 52
AWARENESS ABOUT INSURANCE PREMIUM
4.6.6 53
SERVICE
AWARENESS ABOUT TRANSFER OF FUNDS SERVICE
4.6.7 54
AWARENESS ABOUT PAY FOR FUEL AT PETROL
4.6.8 PUMPS SERVICE 55

AWARENESS ABOUTBANKING RELATED

4.6.9 TRANSACTION SERVICE 56

4.6.10 AWARENESS ABOUT PAY FOR LPG CYLINDER 57

SERVICE
4.7.1 RATING ON RECHARGE
SERVICE
58
4.7.2 RATING ON TICKET BOOKING SERVICE
59
4.7.3
RATING ON COMMERCIAL BILLS SERVICE 60
4.7.4 RATING ON HOUSE UTILITY BILLS SERVICE
61
4.7.5 RATING ON HOTEL BOOKING SERVICE
62
4.7.6 RATING ON INSURANCE PREMIUM SERVICE 63

RATING ON TRANSFER OF FUNDS SERVICE 64

4.7.7
RATING ON PAY FOR FUEL AT PETROL PUMPS 65
4.7.8 SERVICE
4.7.9 RATING ON BANKING RELATED TRANSACTION 66
SERVICE
RATING ON PAY FOR LPG CYLINDER SERVICE 67
4.7.10
OPINION ON MORE CONVENIENT THAN BRANCH 68
4.8.1 BANKS
4.8.2 OPINION ON ENCOURAGES DIGITAL PAYMENTS 69
4.8.3 OPINION ON HELP IN CONTROLLING BLACK MONEY 70

4.8.4
OPINION ON SERVE THEIR CUSTOMERS
24X7DAYSA 71
WEEK
4.8.5 OPINION ON PROVIDES INSTANT ALERT MESSAGES
72
IN CASE OF FRAUD AND SECURITY ISSUES
4.8.6 OPINION ON HELP IN REDUCING THE COMPLAINTS 73
OF THEIR CUSTOMERS IMMEDIATELY,
IN TERMS OF
DELIVERY OF PRODUCTSAND SERVICES
4.8.7 OPINION ON PROVIDE NEEDFUL INFORMATION
74
ABOUT THEIR PRODUCTS, SERVICES, LATEST CASH
BACK OFFERS AND BENEFITS FROM TIME TO TIME
4.8.8 OPINION ON MORE TRUSTED BY MODERN YOUNG 75
GENERATION
4.8.9 OPINION ON PROVIDE FASTEST SERVICES OF 76
TRANSFER OF FUNDS AND REMITTANCE OF
PAYMENTS SERVICES
4.8.10 OPINION ON MEET CASH REQUIREMENT OF THEIR 77
CUSTOMER EVEN AFTER THE BANK IS CLOSED
 EXPLORING USER SWITCHING INTENTION OF MOBILE PAYMENT
APPLICATIONS STUDY

16) KotakMahindra
Bank
17)NainitalBank

18) RBL Bank

19) South Indian Bank
20) Tamilnad Mercantile Bank
21) Yes Bank
1.3.3 FUNCTIONS OF BANK

A)PRIMARYFUNCTIONS

1) Accepting Deposits
2) Lending LoansandAdvances
3) Creationof Credit
B)SECONDARYFUNCTIONS

a)Agency Functions
Transfer of Funds

Periodic Collections

PeriodicPayments
Collection
of Cheques
PortfolioManagement.
OtherAgency Functions:
b) General Utility Services
1) LockerFacilities
2) Issuing Letterof Credit
3) Acting asreferee
4) Acting asunderwriters
5) Acting asinformation
banks
6) Dealing in foreign exchange
7) Merchantbanking services.
8) Project Reports
9) SocialWelfareprogrammes
C) MODERN FUNCTIONS
1) Atm
2) Credit Cards
3) SmartCards

SRI HDDEVEGOWDAGOVERNMENTFIRSTGRADECOLLEGE-PADUVALAHIPPE
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4.8.11 OPINION ON ABLE TO REACH THE REMOTE, RURAL
AREAS AND UNBANKED AREA TO MAKE THEM 78
ACCESSIBLE FOR BANKING FACILITIES
4.8.12 OPINION ON HELPS FOR FINANCIAL INCLUSION IN
79
THE ECONOMY BY OPENING BRANCHES, WHERE
TRADITIONAL BANKS ARE NOT ABLE TO OPEN
THEIR BRANCHES
4.8.13 OPINION ON PROVIDE MUTUAL FUND AND
80
INSURANCE FACILITY AS MEDIATOR OF OTHER
BANKS
4.8.14 OPINION ON TRUST WORTHY IN TERMS OF 81
SECURITY, WITHDRAWAL, AVAILABILITY ETC
4.8.15 OPINION ON LOSS OF PHONE MAY LEAD TO LOSE OF 82
MONEYFROMTHE ACCOUNT.
HACKINGIS VERY
EASY
4.8.16 OPINION ON POOR AVAILABILITY OF INTERNET
SERVICES 83

4.8.17 OPINION ON LACK OF AWARENESS ABOUT THE 84

PRODUCTS AND SERVICES

4.8.18 OPINION ON CASHBACK AMOUNT NOT DISPLAYED 85

DURING TRANSACTIONS

4.8.19 OPINION ON NO PROVISION OF CREDIT CARDS AS 86

WELL AS A LOAN FACILITY
4.8.20 OPINION ON THESE BANKS ARE NOTA
87
REPLACEMENT OF TRADITIONAL BANKS
4.8.21 OPINION ON SERVE AS BUSINESS
88
CORRESPONDENTS
(BCS) FOR SELLING PRODUCTS
AND SERVICES OF COMMERCIAL /TRADITIONAL
BANKS
EXPLORING USER SWITCHING INTENTION OF MOBILE PAYMENT
APPLICATIONS STUDY

4) TeleBanking
5) Internet
Banking
6) MobileBanking
ofbank
A)Primary functions
1. Accepting of Deposits
A verybasicyet inmportant functionof all thecommercialbanksis mobilizing
publicfundsandproviding onthesavings
safecustody of savings andinterest
to depositors. Bankaccepts differenttypes of deposits fromthepublic suchas:
savinghabits
Saving Deposits:encourages thepublic. It issuitable
among
for salary and wage earners.
The rate of interest is low. There is no
restriction on the number and amount of withdrawals. The account for

saving deposits canbe opened in a single name

orin joint names.
The
depositorsjust needto maintainaminimumbalancewhichvariesacross
differentbanks.Also, Bankprovides anATM cum debitcard, chequebook,
andInternetbanking facility. canknowabouttheTypes of
Candidates
Cheques onthelinkedpage.
FixedDeposits: AlsoknownasTermDeposits. Money is deposited for a
fixed tenure.No withdrawalof moneyduring this period is allowed.In
Case depositors withdrawbefore maturity, bankslevy a penalty for
premature withdrawal.As alump-sum amountis paid at one
time for a
specific period, the rate of interestis high but varieswith the period of
deposit.
Current Deposits: areopened by businessmen.The accountholders
They

get anoverdraftfacility onthis account.Thesedeposits act asshort-term

loansto meeturgent needs.Bank charges ahigh-interest ratealong with

thecharges for overdraftfacility in orderto maintainareserve
for unknown
demands for the overdraft.

Recurring Deposits: A certainsum

of moneyisdeposited in thebankata
regular interval.Moneycanbewithdrawnonly aftertheexpiry of acertain
period. A higher rateof interestis paid onrecurring deposits as
it provides
thebenefitof compounded rateof interestandenablesdepositors to collect
abig sum
of Thistype of account
money. is operated by salariedpersons
andpetty traders.

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 EXPLORING USER SWITCHING INTENTION OF MOBILE PAYMENT
APPLICATIONS A STUDY

INTRODUCTION

1.1
BACKGROUND
Theeconomic
development of anycountry depends uponthedevelopment of
economicactivitieslike agricultural activities, industrialactivities, trade and

commerce, work etc. The bank plays a very

fishing, mining, construction

predominant role in developing andpromoting theseactivitiesby providing

financial assistance.
Therefore, the economicdevelopment of any country
ultimately depends uponthesurvivalandgrowth of thebanking sectors.
Bank
is afinancialinstitutionwhichdealswith money,eitherits ownfundsor
borrowed funds.

1.2 DEFINITION

BankingRegulationAct, 1949
hasdefineda as
Bank "Acceptingforthepurpose
orinvestmentof deposits of moneyfrom thepublic, repayable on
of lending
demandorotherwiseandwithdrawableby cheques, drafts, orderorotherwise."
According to the above definition bank means
A financial institution which
perform banking asthemainbusinesssuchasaccepting
business deposits like
fixed deposits, Savings Bankaccounts, currentaccounts
andrecurring deposits

from thepublic, lending to theneedy

loansandadvances people, withdrawalof
fundsthrough cheques orATMs, investment
of fundsandrendering subsidiary
services.

Banking servicesarebroadly classifiedasoffline servicesand online services.

are
Offlinebanking services
1. Public Sector Banks

2. Private Sector Banks

3. Foreign Banks

1.3 MEANING, TYPES AND FUNCTIONS

1.3.1 Public Sector Bank: Public Sector Banks arethose banks where

majority of IndiaorRBI. In simple wordsPublic

stakeis heldby Government
SectorBanksare
thosebankswheremore
than51%ownership is heldby the
Government

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 EXPLORING USER SWITCHING INTENTION OF MOBILE PAYMENT
APPLICATIONS STUDY

Currently 12 Public Sector Banks arethere in India.

1. StateBank of India
2. Punjab NationalBank
3. Bank of Baroda

4. Bankof India
5. Bank of Maharashtra

6. Union Bank of India

7. CanaraBank
8. Central Bank of India

9. Indian Bank

10. Indian Overseas Bank

11.Punjab andSindBank
12. UCO Bank

1.3.2 PRIVATE SECTOR BANKS

PrivateSectorBanksarethosebankswheremajority of the stakeis held by

private individuals andnot by the Government.
Currently 21 Private Sector Banks arethere in India.
1) Axis Bank
2) BandhanBank
3) CatholicSyrian Bank
4) City UnionBank
5) DCBBank
6) Dhanlaxmi Bank
7) FederalBank
8) Bank
HDFC
9) ICICIBank
10) IDFC FIRST Bank
11) IDBIFIRSTBank
12) IndusInd Bank
13) J&K Bank
14) KarnatakaBank
15) KarurVysya Bank

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 EXPLORING USER SWITCHING INTENTION OF MOBILE PAYMENT
APPLICATIONS STUDY

2) Granting Loans & Advances

Thedeposits accepted from thepublic areutilizedby thebanksto advanceloans
to businessesandindividuals to meettheir uncertainties.Bank charges ahigher
rate of interest onloans and advancesthan what it pays ondeposits. The
differencebetweenthe lending interestrateandinterestratefor deposits is bank
profit.
BANK OFFERS THE FOLLOWING TYPES OF LOANS AND

ADVANCES

Bank Overdraft: This facility is for currentaccountholders.It allows

holdersto withdraw moneyanytime more
than availablein bankbalance
but up to the provided limit. An overdraft facility is granted against

collateralsecurity. The interestfor overdraftis paid only onthe borrowed

amountfor theperiod for whichtheloanis taken.
Cash Credits: a short-termloan facility up to a specific limit fixed in
to takealoanagainst
Banksallow the customer
advance. amortgage of
certainproperty (tangible assets
and/orguarantees). Cashcreditis given to
any type of accountholder and also to those who do not have anaccount
with abank. Interestis charged onthe amountwithdrawn in excess
of the
limit. Through cashcredit, alarger amountof loanis sanctioned
thanthat
of overdraftfor alonger period.
or medium
Loans: Banks lend money to the customer for short-term
periods of say 1to 5 years
againsttangible assets.
Nowadays,banksdo
lendmoneyfor the long term.Theborrowerrepaysthemoneyeitherin a
lump-sum amountorin the form of instalmentsspread overapre-decided
time period. Bankcharges interestontheactualamountof loansanctioned,
whether withdrawn or not. The interest rate is lower than overdrafts and

cashcreditsfacilities.
Discounting the Bill of Exchange: It is atype of short-termloan, where
the seller discounts the bill from the bank for somefees. The bank advances
moneyby orpurchasing thebills of exchange. It paysthebill
discounting
to thedrawer(seller) onbehalfof thedrawee
amount (buyer) by deducting
the usualdiscountcharges. On maturity, the bankpresents the bill to the
draweeoracceptor to collectthebill amount.

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 EXPLORING USER SWITCHING INTENTION OF MOBILE PAYMENT
APPLICATIONS STUDY

B)Secondary Functions
of Bank
a) Agency of Bank
Functions
Banksare theagents for theircustomers,henceit hasto perform variousagency
functions asmentioned below:

Transfer of Funds: Transferring of funds from onebranch/place to

another.

PeriodicCollections:Collecting dividends, salary, pension, andsimilar

periodic collectionsontheclients'behalf.
PeriodicPayments:Making periodic paymentsof rents,electricity bills,
etc onbehalf of the client.

Collectionof Cheques: Like collecting moneyfromthebills of exchanges,

thebankcollectsthemoneyfrom thecheques through theclearing section
of its customers.

Portfolio Management: Banksmanagethe portfolio of their clients.It

undertakesthe activity to purchase and sell the sharesand debenturesof
the clients and debits or credits the account.

Other Agency Functions:Underthis bankact asarepresentative of its

clientsfor otherinstitutions.It actsasanexecutor, trustee, administrator,
adviser, etc. of the client.

b)Utility Functions
of Bank
Issuing lettersof credit, traveller'scheques, etc.
Undertaking safe custody of valuables, important documents, and
securities
by providing safedeposit vaultsorlockers.
Providing customers
withfacilitiesfor foreign exchange dealings

Underwriting of sharesanddebentures
Dealing in foreign exchanges
SocialWelfareprograms
Project reports
Standing guarantee onbehalfof its customers, etc.

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 EXPLORING USER SWITCHING INTENTION OF MOBILE PAYMENT
APPLICATIONS STUDY

1.4PAYMENT APPSMEANING
Payment appmeans
asoft wear
application onthe consumer'smobiledevice
which is usedby the consumer
to complete a transactionusedanaccepted
payment service.

1.4.1
DEFINING DIGITAL PAYMENTS
A digital payment, calledanelectronicpayment, is the transferof
sometimes
valuefrom one
payment accountto anotherusing adigital deviceorchannel.
Thisdefinitionmayincludepayments madewith banktransfers, mnobile
money,
QR codes, and payment instrumentssuchascredit, debit, and prepaid cards.
Digital payments can
bepartially digital, primarily digital, orfully digital.

1.4.2HISTORY OF MOBILEPAYMENT APPLICATION SYSTEM

Throughout history, havereliedonsome
humans form of payment system to
obtainthe goods orservicesthey desiredorrequired. Humansbegan to use
livestock, grain, shells, metalcoins, pieces of white deerskin, the wampum,
gold, thegold-backed dollar, charge cards, creditcards, theUS dollar, and, most

recently, electronicpayments, beginning with bartering. If therehasbeena

recurring themein theevolutionof payments, it is thatweprefer payments that
aresimple With theintroductionof thecharge cardin theearly
andtransactional.
twentiethcentury, thesepreferences began to takeshape. Despite the fact that
EdwardBellamy mentionedit in 1887's"Looking Backward," the first charge
carddid not appearuntil 1921, whenacharge cardwas
issuedto WesternUnion
customers.
Soonafter, department stores,gasstations, andhotelsbegan offering
charge cardsto customers, eliminating theneedfor themto visit theirlocalbank.
The credit card industry began to resemblewhat weknow today after the
introductionof the DinersClub cardin 1950.The Bank Ameri card, issuedby a
third-party bankin 1958, was
thefirst modern-day creditcard.In 1977, thecard
was
renamedVisa.
Sincethen, technology hasgiven usvideotextsystems in the
late1970sandearly 1980s,onlinebanking andbill payin 1994, mobileweb
payment (WAP) in 1997, and the currentwave
of mobile payment apps.
Keeping this in mind, here is a timeline of how electronicpayments have
progressed into thetwenty-first century:

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CHAPTER 01

INTRODUCTION
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• 1983:David Chaum,anAmerican
by inventing "theblinding formula,whichis an
digital cash
workoncreating
cryptographer,starts
extension
of the
RSA algorithm still usedin the web's encryption." This is the beginning of
Cryptocurrencies.
•1994:Although this is disputed,somebelievethatthefirst onlinepurchase, a
andmushroompizza from PizzaHut, occursin this year.
•
pepperoni

1997:Coca-Cola
introduces
vending machines
withSMSpayments.Exxon
Mobile introducesSpeedpass, which used RFID technology for making

•
payments.
1998:PayPal is founded.
•1999:Thanksto EricssonandTelnor Mobil, mobile phones could be usedto
purchase movietickets.

••2001:
Domino's
Pizza
beginstaking orders
2004:Donationsto non-profit
throughcellphones.
organizations through SMS.
•2003:95 million cell phone users
worldwidemadeapurchase via theirmobile
device.

•2007:BoththeiPhoneandthe Droidoperating system arereleased.

•2008: Bitcoinis invented.
• 2009: Square starts its services. The mobile payment market crosses
$69

billion in sales.

• 2011:
Google Walletis released.

•2014:Apple Pay is launched,followedayearlaterby AndroidandSamsung

Pay.
•2015:Samsung Pay andAndroidPay andbecome
available.
•2020:90 percent of smartphone users
will havemadeamobile payment. It's
thatby 2017, therewill be$60 billionin mobilepayment sales.
estimated
1997was
the yearthat mobile payment of servicesorgoods wasenabledfor the
firsttimein theworld, whenCoca
ColainHelsinki abeveragevending
released
machinethat allowed users
to pay for the beverage with anSMS message.At
aroundthe same
time, the oil companyMobil releasedanRFID device called
Speedpass. Thisdeviceenabled
itsusers
to payfor gasatgasstationsby simply
slipping the devicenear
oronthe sensors
installedonthe pump.Thesetwo
servicesare
regarded asthe forefathersof mobilepayment. Both serviceswere

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SMS-based, andpayments were

madethrough amobile accountlinked to the
user'sdevice.Initially, the payments werelimited to smalleramountsandthat's
why they were
oftenreferredto asmicropaynments. SMS-basedmobilepayment
systems quickly evolvedinto the world'sfirst phone-based banking service,

launchedin 1997by Finland'sMerita bank.With the passageof time, mobile

payment systems improved. We began purchasing movie ticketsfrom our
In subsequentyears,webegan ordering pizza and
in 1999.
mobiledevices
booking travelfrom ourphones. Vodafonelaunchedone
of the world'slargest
mobilepayment systems in 2007.It usedUSSD/SMStechnology andprovided
avariety of macro
andmicropayments. With thehelp of localtelecomoperators,
Vodafonelaunchedthis servicein TanzaniaandKenya.2011 wasthe yearwhich
sawsome
major players like Apple andGoogle entering the field of nmobile
payment. Google wasthe first major corporation to releaseadigital mobile
wallet solution.Customerscould use the wallet to makepayments, redeem
andearn
coupons, loyalty points because
it was onNFCtechnology.
based
However, Google Wallet wasonly availableonone
phone modelandwas
only

accepted by asmallnumberof merchants.Despite theselimitations, it proved

to be popular amongusers. In 2012, Apple followedin Google's footsteps by
releasing Passbook, amobileapp.Insteadof mobilepayments, Passbook offers
targeted couponsandboarding passes.

1.4.3 OBJECTIVES OF THE PAYMENT APPS

> Reducethe risks and costsof handling cashat the individual level.
Improve theease
of conducting card/digital for anindividual.
transactions
Reducetheimpact of counterfeitmoney.
Reducecostsof managing cashin theeconomy.

1.5MEANING, HISTORY ANDEVOLUTION OF FINTECH

1.5.1Meaning of FinTech
Fintech, orfinancialtechnology, is thetermusedto describeanytechnology
thatdeliversfinancial servicesthrough software, suchasonlinebanking, mobile
payment apps or even
cryptocurrency. Fintech is a broad category that
encompasses
manydifferenttechnologies, but the primary objectives are toO

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Following thetable, it can

beidentifiedthatthekey eventsof eachperiod areas
follows: There aredifferent opinions of scholarsand practitioners about the
origin of the term FinTech.Majority of scholarsconsideredthat origins of the
global FinTech canbe traced back to the early nineteenthcentury, when
technology startedto makeits imprint onthe history of financecausing the
FinTechasanindustry to grow.
A. Technological development of finance(1886-1887)
This is the period when first the idea of financial globalisation shootsup. The
history of FinTech goes back to the 19th century from 1886 investmentin
communicatorsinfrastructuresuchastelegraph and transatlanticrailroadsand
steamships facilitated the transformation of financial information across
the
country.Med wire, acentralized
fundstransferservicewas in 1988
established
in theUSA, 8 basedonArchaicTechnology, suchasthetelegraph andmorse
code.In 1950, credit cardswere
launched.The purposewas
to reducethe need
of thepeople topayin cash.Diner'sclubwas
thefirst tointroduce
creditcards
whichwas ExpressCompany in 1958.Itmaybeargued
by American
followed
assuchtoday,
that while suchtypes of FinTechmay not be considered they
were,however, relevantto their time period.
B.Technologicaldevelopmentoffinance
(1967-2008)
During this period, banksandfinancialinstitutionsbrought amajor shift from
physical to digital financialtransactions.
cashtransactions First time hand
calculatorandATM was
introducedby Barclay bankin1967.More significant
changes tookplace in financialtechnology whichgaveanew
shape in theearly
1970.NASDAQ, the first digital stockexchange and security for worldwide
telecommunication
internet-banking financial (swift) was in 1970.
established
From this establishment, the mostcommon
communicationprotocol wasissued
for financialinstitutionsto facilitatethe large volumeof payments across
the
border.During the 1980s, mainframe
computers were
startedby banks.It
becamevery popular. Onlinebanking wasalso launched.In the 90"s, the
concept of making financial transactionsthrough the internet and E commerce
businessmodelsstarted.Online banking brought a major change in the
perception of people towardsmoneyandtheirrelationships with thefinancial
in technology, at theearly stage of the 21st
institutions.With the advancement

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century, banks'internalprocesses,
interactions
with outsiders
andretail
customers
havebeenbecoming fully equippedwith digitalisation.In 1982,
Trades-plus (E Trade) and E-Tradewere
startedfor the first time to help
customers.After that, NBS /WF offered online banking to their customers
by1983andin 1985,mobilephones were
launched
for thefirsttime.During the
mid-90*s, there wasanintroductionof e-commerce
to make reliable digital
finance. In 1998, the PAYPAL app waslaunched. It is amilestone in the field
payment. Further, with therapid development of technology in the
of cashless
financial sectorwhich severely hit the traditional working of the banks and
financial entities. The 2008 financial crisis prompted a fundamental shift in
public perception of the FinTechsector, and the necessity for researchand
innovationfuelledthesubsequent rise.Theglobal financialcrisisof 2008marks
the end of this time.

C.ModernFinTech(2008- present)
The origin of the global financial crisis (2008) erodedconfidence/trust of the
general public in traditional
banking institutions
andtogether with the broad
basedrise in digitalisation Apps like kick-starterwhat I nowrecognise asthe
FinTech industry. As a fact, the majority of financial professionals and
consultantsstartedrecognising the importance of the newtechnology i.e.
FinTechbrought anunprecedented change in themindsetof customers towards
FinTechproducts andservices.Theriseof new players, as
well asexisting ones,
arethe characteristics
of thenewperiod.

In the year 2009, the introductionof bitcoin had a significant effect onthe
financial sectorand many different cryptocurrencies were
also introducedand
asaresultof this, therewasaGreatCrypto crashin 2018.Alibaba createsfacial
recognitiontechnologytomake smiles pay.Various FinTech business models
alsostartedto emerge,some of which includedalternativecredit scoring, digital
andsmall-ticket
wallets, to peernetwork(p2p) (2011),
loans.Theadventof peer
wallets, bitcoin(2009), Apple-pay (2014) etc.were
cutting downoperational
costsand led to useof resources
moreefficiently as wellasto ease
of usefor
consumers.
the general Baas, reg tech, digital landing, Insurtech, walletsand
manymore
serviceproviders areseeing more opportunities in the field of

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FinTechto becomeacontinuousglobal revolution. Today, FinTechhasindeed

takenasignificant place in thecapital marketof theworld.

1.5.3 Evolution of FinTech in India

India is quickly becoming oneof the world'smostprolific FinTecheconomies,

aswell asAsia'smostwell-fundedFinTechnation.Theacceptance of thedigital
ageandrisein FinTechpopularity is paved by the 2008global financialcrisis.
Theperception of people towards
banksandfinancialinstitutions
haschanged
andentry of new
aftertheoutburstof innovations, smartadvancements entrants
in the field of financialworld. Thesedevelopments havechanged the shape of
the face of the FinTech Industry in India. Past few years back. Banks focused
oncustomer-centricfinancial products andservicesof FinTech, it hasseen
more
rise in afew years.The demonetisationdrive in 2016 also has brought drastic
change in the financial servicesespecially FinTechservices.This will be
especially beneficialto farmersandseniorcitizensin rural areas.
It will enable
interoperation ability and finance inclusion. This move
would allow bank
customerswho secure
direct transfersof subsidies, to bring them into the formal
Banking system.
ICICIwas
thefirstIndianbankthatsteppedintointernet
banking, though with
limited serviceslike transferswithin banksandviewing accountdetails.Other
financialentitiesandbanksalsostartedto follow the way, resulting in rapid
change in the way of banking. This changed financial system has faced
challengeslikefraud, technical in payment methods
mistakes and cross
border
transactions, etc. Advancedtechnology of FinTech gave amodernisticlook to
the FinTechindustry in India. Therearesome
specific important eventsthat
triggered the rise of FinTech in India. Theseareasfollows:
In 1987, HSBC(Bombay) was
thefirst bankto startATM to withdrawcash.In
waslaunched by the Central bank of India.
1980, the first credit card in India

Federal
Stanford acustomer's
creditunion(1991) introduced cardto access
viathenew
financialtransactions worldwideweb.Thepayment system has
takenfurther after the internetboom by PayPal in 1988.In 2011, Google

launchedawalletand, in 2014, Apple payment was started.Theseimportant

eventschanged thefaceof Indian FinTech.
Overthelastfew years,FinTechhas
beenwitnessing tremendous
rapid development in theadoption of FinTechby

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Indian customers.With advancement of newinnovations, digitalisation has

becometheprimary methodfor people to handletheirmoney.Baasasbanking
that willallowthird-party serviceproviders to access
serviceadopted by banks
their financial data. FinTech products, services, devices and tools like mobile
payment, automatedinvestmentapps, online lending businessesand
crowdfunding platforms havebrought revolutionary changes in the financial
sector.Today, FinTechcompanies aretrying to understand
customerbehaviour
patterns by using innovativetechnology like machinelearning and artificial
intelligence. NASSCOMhasreported thatnew
start-ups in Indiahavestartedto

find spacein FinTechasone

of the top potential sectorsin the ecosystem.
Financialinclusion, wealth management, mutual funds management and
arealsoemerging
insurance key areas
for driving thegrowth of IndianFinTech.
Mukewar, P, and community (2020) and FinTechin India C.Vijay (2021 )

argued that the government's move

towardsdigital India andcashless
policy
support to FinTechcompanies. 11Artificial intelligence
haveimmense (AI),
Machine
learning(ML), Digital dataandDataanalyticsandRobotics
processes
haveseriousimplications onrole in the growth of FinTechecosystem.

1.6 PROFILE OF SELECTED COMPANIES

1.PayTmn:(a partial abbreviationfor "pay through mobile") is anIndian

multinationaltechnology companybasedin Noida, UttarPradesh, Indiathat
specialises in digital wallets,e-commerce, payment systems, and financial
services.
Paytm is currently in 11Indianlanguages andprovides online
available
servicessuchasmobilerecharges, utility bill payments, travel, movie, andevent
bookings, aswell asin-storepayments via thePaytm QR codeatgrocerystores,
fruits and vegetable shops, restaurants, parking, tolls, pharmacies, and
educational institutions.

2.Amazon pay: Amazon Pay is a payment processing service that Amazon

owns.In 2007it was
launched.AmazonPay makesadvantage of Amazon.com's
customerbaseandfocusesonallowing users
to pay with their Amazon accounts
onthird-party Theserviceis currently offeredin Austria, Belgium,
websites.
Cyprus,Denmark,France,Germany, Hungary, India, theRepublic of Ireland,
Italy, Japan, Luxembourg, the Netherlands,Portugal, Spain, Sweden,
Switzerland, the United Kingdom, andthe United Statesasof March2021.

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3.Google pay:Google Pay (previously AndroidPay) is adigital walletplatform

andonlinepayment system developed by Google to support in-app, online, and
in-person onmobile devices, allowing users
contactlesspurchases to make
payments using theirAndroidphones, tablets, orwatches.
An iOS smartphone
canalsobeusedin theUnitedStatesandIndia, howeverwith limitedcapability.
campusID cards, autokeys, eventtickets,
In addition, coupons,boarding passes,
movietickets, public transportation tickets, retailcards, andloyalty cardsare
all
supportedby theservice.
4.Phonepe: PhonePe, basedin Bangalore, India, is a digital payments and
financialservicesstartup. SameerNigam, RahulChari, andBurzinEngineer
startedPhonePein December2015.In August 2016, the PhonePeapp,which is
based onthe Unified Payments Interface (UPI), went online. PhonePeis
availablein more
than 11Indian languages. Userscan
usePhonePeto sendand
recharge mobilephones, DTH, datacards, paybills, investin
receive money,
tax-saving funds, liquid funds, buy insurance, mutualfunds, andgold. PhonePe's
Switchplatform alsolets customers
to book Ola rides, pay for Redbustickets,
andbookflights andhotelsonGoibibo. is acceptedasapayment
PhonePe
method at approximately 17.5 million offline and online merchant outlets in
India, encompassing food, travel, groceries, pharmaceuticals, and cinema
tickets, amongotherthings. In June2018, the appreached100million users,
and in December2019, it reached5 billion transactions.It nowhas morethan
280million users.
In January 2020, the firm debutedthe PhonePeATM.
canget cashfrom nearby Kiranastoresin real time thanksto the
Customers
PhonePeATM.TheReserve permission to
Bankof Indiahasgranted PhonePe
issueandoperate asemiclosedprepaid payment system, with Authorization
Number:75/2014datedAugust 22, 2014.
5.BHIM:TheNationalPayments Corporation of India(NPCI) developed the
BHIM (Bharat Interfacefor Money) mobilepayment app,whichis basedonthe
Unified Payments Interface(UPI). It was
introducedonDecember30, 2016, and
is namedafterB. R. Ambedkar.Its goal is to ease
e-payments directly through
banksandencouragecashlesstransactions.All Indian banksthat use
UPI, which

is built onthe ImmediatePayment Service(IMPS) infrastructureand allows

users
to transfermoneybetweenbankaccountsof anytwo parties, are
supported

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by theapp.It is compatible with all mobiledevices.Userscan

utiliseBHIM to
aswell asnon-UPI
sendandreceivemoneyto andfrom UPI payment addresses
accounts
(by scanning aQR codewith the accountnumber, IFSCcode, or
MMID (Mobile Money Identifier) Code). TheBHIM appis merely ameans
for
transferring money betweenmultiple bank accounts, unlike mobile wallets
(PayTM, mPesa, Airtel Money, andsoon). BHIM transactions
arealmostquick
andholidays. Userscan
andmaybecompleted atanytime, including weekends
sendmoneyusing cellphone numbersfrom their contactbook in version1.3,
and they canalso rememberpayment addressesfor future use.
It nowallows
users
to sendandreceivedigital payments using their Aadhaarnumbers.
6. Bharatpe
BharatPeis aQR code-based
payment appfor offline businessmen
andretailers.
The companyhasits headquarters in New Delhi, but therearearound5 more
officesof BharatPeacross
thecountry. Theapp,whichallowsits users
to accept
UPI payments for freethrough theBharatPe
QR code, is hugely beneficialfor
the smallmerchantsandkiranastoresandtheir owners.
Along with offering

easyandinteroperableQR codes
for effortlessUPIpayments,BharatPe
also
extendsBharatSwipe (POS machine) for card acceptance and small business
financing. Furthermore, the companyalsooffersmerchantloansof up to Rs 7
lakhs that canbe availed for a duration of 3 to 12 months.

7. YONO SBI

YONO(You NeedOne) is anintegrated digital banking platform offered

Only
by StateBank of India (SB) to enableusersto access avariety of financial and
otherservicessuchasflight, train, busandtaxi bookings, onlineshopping, or
medical bill payments. YONO is offered asa mobile banking app for both
Android and iOS.

1,7ADAVNTAGES OF PAYMENT APPS

Thefollowing aredifferenttypes of payment appsande-walletsthey are
1. CustomerConvenience
Thebestadvantage of using apayment appis
customerconvenienceasthey willbe able to make payments using their
payments orby
mobilephones eitherusing thecontactless scanning QR
codeinstantly. The payment appsIndia canbe madeby using either

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SamsungPay orAndroidPay orApple Pay.One can

easily leave
thecash
and cards at home and usetheir phones to make payments instead.
Payments madeusing amobilewallet is ofteneasierandfaster.
2. Securewayto makepayments: Payments madeusing mobilephone apps
allowtheuser
to use
the cellphone to makein storepurchases. Theseapps
useatechnology whichis calledasNear Field Communication(NFC)
all you haveto do is to tap orwaveyourphone to makepayments at the
point of service (POS) terminal.Most of the time, theseappsuse
either
orprotected codeto minimizethethreatto thepersonal dataof
encryption
users.
Your original cardnumberwill not be storedonthe deviceorwith
the retailer and instead, the system will mask the card numbersby
assigning them witharandom number ortoken for each purchase. If in
case,ahackertries to hack to gain access
to storedataoryour device, they
will only get uselessinformation.E-Walletsoffer agreat level of security
for thefinancialdataof theusers.
Theuser
canaddafingerprint orPIN or
Passwordasanadditionallayer of security for the phone to enhancethe
surveillance
coverage.
3. Improves Cash Flow: The introductionof e-walletshas improved the
cashflowin themarkets. mostof thecustomers
For starters, prefer topay
their bills using debit/credit cards overthe traditional methodof cash
payments. will transferfundsto a
Mostof themobilepayment processors
businessaccountunderthreedays.
4. A faster way to makepayments: Alltheusers
haveto do is tap, payand
go.With theincreasein thenumberof people who use
mobilephones, the
e-paymentsystemhasgainedmomentum
worldwide.All one
hastodois
to simply wave ortap thephone in front of anNFC compatible terminal,
with this single action, the user has approved the transaction.This will
resultin acontactlesstransaction, despite securing the cardnunmberwhich
is never revealed, in additionto this, the processis fasterwhencompared
to using debit orcredit card which needsto be insertedin the device orfor
swiping andalsoit can
purpose beexpired afterayear.
5. Integrates Loyalty Programmes: Theuse
of mobilepayments makesit
possible to integrate loyalty andrewardprogramsascustomer
information

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will be storedin the app.For example: being able to sendcustomersa

couponwhenthey arecloseto your store.This will help the customersto
automatically receivethe rewardpoints orcouponsfor everytransaction
whichthey make.

1.8 DISADVANTAGES OF PAYMENT APPS

1. Security: Security remainsone

of the top concerns
amongst the owners
and customers.It has beenfound the half of the mobile payments is not
safe and secure.

2. Adoption of user's remainsslow Most of thecustomers

prefer to stay in

theircomfortzone
thatis they eitherprefer to makepayments using cash
ordebit orcredit card.Though mobile payments aretied to acredit cardor
debit card orbank account, customersprefer to swipe their card orinsert
theircardsin theterminals of waving theirphone over
instead theterminal.
3. Expensive Technology Though it is a provenfact, that using mobile
payments is less expensive than the traditionalPOS systems, it still
requires newhardwareincluding that of aterminalorsmartphone which
supports It is impossible to makepayments, if
NearField Communication.
you still possessanold credit ordebit card terminal orif you do not have
a smart phone. One should also have a strong internet connectionand
is
updated infrastructure amustto processmobilepayments.
4. Difficult to Read Terms and Conditions: It is amustandmandatory for
the users
of mobile payment appsto understandthe termsandconditions.
Like any otherbusinessagreement, the businessowners
will haveto first
read and understand the terms and conditions which comein with the

payment apps. theuser

If in case, failsto readthefineprint mainly when
it comes
to processing fees, thenyou will be in for anunwelcomesurprise
whenyouopenyourinvoiceattheendof the month.
Sobecarefulland
readall the termsandconditionsof onlinepayment appsbeforemaking
use
of it in yourdaily life.

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1.9 CONCLUSION

In orderto provide insights to improve appofferings, increase

for businesses
user
pleasure, andfosterbrandloyalty, this study investigates user
switching
intentionsin mobilepayment applications. To remaincompetitive andsatisfy
userexpectations in the rapidly changing mobilepayment ecosystem, it is
to comprehend customer
essential switching intentions.

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REVIEW OF LITERATURE & RESEARCH DESIGN

2.1 INTRODUCTION
Theprevious chapter dealtwith theintroductionandanoverviewaboutFinTech
andpayment apps.Thepresent chapter gives thedetailsof literatures
reviewed
reviewedare
for thestudy. Theliteratures relatedto FinTechandpayment apps
andits functions,benefits
ofFinTech
apps,
problemsandrisks,service
quality,
marketing strategies of FinTechandpayment apps.
relatedto theconcept of FinTechandpayment apps,its
Thereviewof literature
nature, growth and dimensionfor the economicdevelopment and financial
inclusion in India and the role of the government for its expansion and
development for the same;awareness,
satisfactionandexpectations level of the
customersfrom the FinTech and payment apps; challenges and obstacles
impacting the development FinTech apps.; the impact of service quality
provided by the FinTechand payment appsoncustomer'ssatisfactiontaken
from reputed database.

2.2 REVIEW OF LITERATURE

SriramuluBojjagani, V.N.Sastry, Chien-Ming Chen, Saru Kumari&

MuhammadKhurram Khan (2023) "Systematic surveyof mobilepayments,
protocols, andsecurity infrastructure"
Smartphones frequently utilizemobile
payments, oneof the mobile serviceswith the greatest growth rate currently
accessible, to make payments for services, pay bills, and conduct online
shopping, amongotherthings. Mobilepayments arefundamentalto the rapid
expansion of online marketsand aretransforming the supply chains of
companies and sectors.
Comparing mobilepayments to traditional offline
payment methods andonlinee-channels like ATM, e-cheque, ande-card
transactions,mobilepayments are
starting to takethelead.Thetype of mobile
payment channelutilized, the corresponding security infrastructure, the
stakeholders
engaged, andthe m-business
modelsemployed arejust afew of
the variables that affect how successful ane-business is. We describe the most

recentresearchin this field and undertakeasystematic literature review (SLR)

of mobilepayments in this study.

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change the way consumers

and businessesaccess
their financesand compete
with traditional financial services.

1.5.2History of FinTech
Sincecivilization, technology hasbeenplaying asignificant role in different
segments of the economyof the world, especially in the field of finance
transactions
of banksand financialentities.From this point onwardpeople
startedtalking aboutFinTechhistorically. P. B, (2019) put forwardhis point of
viewthatfinancialtechnology (FinTech) is theinterplay between
information
technology A V Thakor(2019) alsoopined andsupported
andfinancialservices.
thatthedevelopment of FinTechis notanew concept. Pastfew years,FinTech
has become a buzz word in the field of the financial sector of the world. The

effective applications of information technology in the field of finance have

becomeapart andparcel of the working of financialinstitutionsandfinancial
entities.FinTechhasbecomeabig issuein the history of the financesectoras
well asfor thescientifictechnology community (S. Meetal., (2018). Multiple
FinTechhubshavebeenevolvedacross well serve
the worldwhich may asa
touchstonefor FinTechevolutionfor the emerging capital markets.India is
emerging asthe fastestgrowing FinTechcapital marketin the world. It has
financialservicesover
revolutionised the years,particularly access
to various
financial servicesand payment methods.It is pertinent to know the various
inthehistory ofFinTech.
stages/keyperiods ofdevelopments Arneris,Barberis
are
andRosshaveexplained thekey period in thetimelineof FinTech assuch:
FinTech
FinTech 1,0 FinTech2.0 FinTech 3.0
4.0

Global Global Energies/

Developed
development development developing
Infrastructure/ Startup's
Mobile Startups
Traditional/internet Mobile/computerisation
New

entrants
Linkages Digitalisation New entrants
Jast mover

advantage

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Lin Zhang, ZhenShao, JoseBenitez, Rui Zhang (2023) «*Howto improve

user
engagement and retentionin mobilepayment. From the affordancesof
gamification in orderto ensure
the long-term profitability of mobile payment
platforms, given the fierce competition in the Chinesemobile payment market,
user
retentionis crucial.Meanwhile, gamification theapplication of game
featuresandconcepts to non-game artifacts hasbeensuggested asasuccessful
strategy for promoting mobilepayment platform retention(i.e., users'steadfast
loyalty to aparticular mobilepayment platform). A comprehensive knowledge
of theimpact of gamification onuser
retentionfor mobilepayment platforms is
thegoal of thisstudy. Wediscover
thatfourgamified artifactualaffordances
rewards, competition, feedback, and cooperation benefit user
retention
through themediating impact of user
engagement, using surveydatafrom 447
Alipay users
andanonlinescenario
experiment with 1022participants.
Md ShamimHossain, OmdevDahiya, Md Abdullah Al Noman(2023) "User
PredictionandAnalysis for Payment App ReviewsUsing
Sentiment Supervised
andUnsupervised MachineLearning Approaches" to offer the
For businesses
finest customerservice, they must be aware
of client sentiment.A usermay use
apayment appon amobiledeviceto payfor arangeof servicesanddigital or
physical items, which is becoming moreand more common aroundthe world.
This is analternativeto using cashoracredit card.Utilizing supervised and
unsupervisedmachine
learning (ML) techniques, the study's objective is to
assess
andforecastuser
sentimentfor payment apps.Reviewsof the PayPal and
Google Pay applications from the Google Play Storewere
usedto compile the
study's findings. After being cleaned, two unsupervised andfive supervised
machinelearning techniques were usedto evaluatethefilteredsummaryphrases
for thepresence
of positive, neutral, ornegative sentiments.
Mahmaod Alrawad, Abdalwali Lutfi, MohammedAmin Almaiah, Ibrahim
A. Elshaer(2023) "Examining the influence of trust and perceived risk on
customersintentionto useNFCmobile payment system The goal of the current
study is to better understandhow customers'intentionsto usenear-field
communication(NFC) mobile payment applications areinfluenced by
perceived risks and trust factors.A conceptual model was
developed by the

authorandcontains for use,perceived risk, process

fivecomponents:purpose

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 EXPLORING USER SWITCHING INTENTION OF MOBILE PAYMENT
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trust, and institution-basedtrust. Partial least

basedtrust, characteristic-based
squares
structuralequation modeling methodswere
usedto examinethe data
thatwas
collectedthrough anonlinesurveywith 469participants. Only threeof
the four studied constructsperceived risk, process-based trust, and
characteristics-basedtrust -appear to have a substantial influence on
consumers'decisionsto utilize NFCmobile payments, according to the data.
The researchalsorevealedthat ageand gender had little impact onthe model
components, emphasizing the inmportance of perceived risk and trust in the
study's conclusions.
Yining Yu, Xixian Peng and Lei Wang (2023) *The Impact of Mobile
Payment onHedonicPreference`Mobile payments are becoming increasingly
popular aroundtheglobe as high-tech payment methods advance.An essential
subject in thefield of consumer
well-being research, whethermobilepayment
affectscustomers'
decisionsbetweenhedonistic
andutilitarianitems, hasn'tbeen
completely explored. Theauthorsinvestigate theimpact of traditionalpayment
methods (such as
cashandcardpaynments)andmobilepayment oncustomers'
preferences for hedonisticgoods in order to fill this researchvacuum.
They

discoverthatthehedonicattitudeof customers
is triggered by mobilepayment,
increasing consumers' smartwearable
preferences for hedonicgoods. Because
devices areless often associatedwith ahedonistic attitude than mobile phones,
the effect is smaller for smartwearablepayment than it is for mobile phone
payment.

Ida Claudia Panetta, Sabrina Leo, Andrea Delle Foglie (2023) The
development of digital payments Past, present, and future From the
literature"By identifying the primary interpretive themesin the literatureand
any shifts in researchmethodologies, wehope to improve andbroadenour
understanding of thedevelopment of scholarly work ondigital payments. We
investigate emerging trendsin digital payments andresearchhotspots using
techniques to identify
bibliometricandscientometric key elements
of published
streams.
contributionsandresearch Our sample consistsof 723papersfrom the
Web of Sciencethat were
published between1985 and 2021. The findings

demonstrate
that mobile payments arethe most thoroughly studieddigital
payments, withtheprimary totechnology
analytical approaches oftenconnected

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 CHAPTER

REVIEW
-
02

OF

LITERATURE&
RESEARCH DESIGN
 EXPLORING USER SWITCHING INTENTION OF MOBILE PAYMENT
APPLICATIONS STUDY

adoption Thisreview, whichis unique in termsof sample sizeand

models.
technique, contributesto ourunderstanding of the development of innovative
payments in visualising different study methods.
andaidsresearchers
Yang,W., Yang, P.,Shi, H., & Sun, W.(2023) PaymentApplication
andRuralHouseholdConsumptionEvidence from ChinaHouseholdFinance
Survey Theability to unleashruralconsumer
potential is now
crucialfor the
developing world'sability to experience sustained
economic
growth. Thisstudy
theeffectsof mobilepayments onrural family
examined spending andits
processes
using sample surveydatafrom the ChinaFamily FinanceSurvey
(CHFS). In orderto address
the issueof indigeneity, this study created
instrumentalvariablesfrom the standpoint of induced demandfor mobile
payments. It wasdiscoveredthat the usageof mobile payments dramatically

increasedrural householdconsumption by 29.8-52.3%.The major mechanisms

conclusionare
behindthe aforementioned that mobilepayments might reduce
liquidity restrictions, enhanceconsumer
choice, and increasepayment
conveniencefor rural families. The effectsof mobile payments onolder and
disabledpeople's householdspending wereshown using heterogeneous

analysis.
Xu, P., Kim, C. S.. Bai, B., & Kim, P. B. (2023). Determinantsof Chinese
Travellers'Useof MobilePayment Applications whenStaying at anOverscas
Hotel" This study investigates thevariablesthatinfluencedChinesetourists'use
of themobilepayment appsWeChatPay andAlipay at aNewZealandhotel.It
alsolooksat whethersocialinfluenceaffectshow it is used.The development
andtesting of study hypotheses utilizing anonlinesurveywere
doneusing the
secondversionof the Unified Theory of Acceptance andUseof Technology
model. The results revealedthat performance expectation, facilitating
conditions, perceived security, andcostefficiency all had substantial a
impact
ontravellers'intentionsto fly, andthat socialinfluenceincreasedthe impact of
performance expectancy while decreasing the impact of costefficiency. The
implications for researchers
andpractitioners arehighlighted.
Linge, A. A.,Chaudhari, TI.,Kakde, B. B., & Singh, M. (2023). « of
FactorsAffecting Use BehaviortowardsMobile Payment Apps: A SEM
Examiningtheeffects
Approach". offiveindependentvariablesperformance

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expectation, effort expectancy, socialinfluence, enabling circumstances, and

hedonic motivationon behavioral intention to use mobile payment

applications is theprimary goal of thisresearch

project. Thesecondary goal of
this study is to examinehow behavioral intention affects how users
of mobile
payment appsutilizethoseapps.Thisstudy aimsto lookathowusers
whohave
previously madepurchases using mobile payment appslike Google Pay,
PhonePe, andPayTM for goods andservicesthey havepurchased from different

merchantsusethose apps.The UTAUT2 theory wasemployed by the

researchersto investigate the correlation between the aforementioned
independent anddependent variables.
Zhong, J., & Chen, T. (2023). of mobilepayment loyalty: An
extendedperspective of perceived value and information system success
model". We createaresearchmodel to look at variables that might influence
userhappiness and loyalty to mobile payment systems, drawing onthe
informationsystemsuccess modelandperceived valuetheory. 410valid replies
werereceivedfor dataanalysis from users
of Alipay andWe ChatPay in China
who provided empirical data.The findings indicatethat a key predictor of
mobilepayment users'pleasure andloyalty is theirmultidimensional, formative
perception of value, whichincludesbothrewardsandcosts.Thethreebenefit
dimensionsof functional value, experiential value, and social value aremore
significant valuecomponents thanthetwosacrificedimensions
of risk andcost,
and experiential value dominates users' perceptions of value for mobile
payments.

Dash, G., Sharna, K., & Yadav, N.(2023). «Thediffusionof mobile

payments: Profiling theadopters andnon-adopters, Roger's way'". Thegoal of
this study is to identify different marketcategories basedonconsumer
attitudes
thataffectthe uptakeof mobilepayments (m-payments). Additionally, it looks
at the most effective ways to separate the variousgroupsof mobile payment
customers.
Usersof mobilepayments totaling 360tookpart in thestudy. Forthe
analysis, analyses were
clusteranddiscriminant used.Theresultsimply thattwo
segments havebeenidentified, canbecreatedin accordance
andstrategies with
manyopportunities to promote theuse
this.Thereport gives marketers of m
payment apps.By overlaying the cohortsonRoger's diffusionof innovation

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model, it alsothoroughly explains m-payment consumers

in underdeveloped
economies.
Jaiswal, D., Mohan, A., & Deshmukh, A. K. (2023). *Cashrich to cashless
market:Segmentation andprofiling of Fintech-led-Mobile
payment users".With

theFintech-Led
MobilePayment(FMP) platform gainingpopularity,it is
andpractitioners to go beyond
crucialfor academics technological adoption to
establishcausallinks. Basedonthe premise, earlierresearchmainly focusedon
linksto characterize
causal thephenomenaof developingdigital payment
a
technology in variety of Withafewexceptions,littleresearch
contexts. has
examineduser
classificationandprofiling, with the majority placing astrong
emphasis on the COnteXts of online and mobile banking.
This researchaims to identify and test ana priori approach to market
segmentation of FMP platform users
and profile them basedonperceived
behavioural
benefits, andsocio-demographiccharacteristics.
characteristics, It
is grounded in ananalysis of usertaxonomy basedonthe benefits-trust
behaviourallinkage modelfrom the perspective of anemerging mobile-based
digital payment market.
Jiamin dai, john miedema, SebastianHernandez, AlexandraSutton-lalani,
karyn Moffatt(2023) "CognitiveAccessibility of Digital Payments"
Digital payments shouldbeavailableto everyonegiven theirpresent prevalence
people facechallenges thatare
in banking andotherservices, but neurodiverse
frequently ignored in study andpractice. Universalaccess
will thereforebe
improved by having a better grasp of userdemandsthroughout the
neurodivergent spectrum. Thisliteratureanalysis evaluates
30 scholarly papers
to characterize
the cognitive accessibility of digital payments, nudging the
difficulties of online banking for seniorcitizensand otherswith neurodiverse
requirements. Our researchrevealsavariety of potential design and support
techniques, suchasdiversifying cues
for interfacesimplification, increasing

participant anddesigner awareness,

expanding third-party help, andutilizing
newtechnology. Supportuseragency, collaborative payments,
for
contextualized
inclusivemethods, andAl-powered accessible design are further
topics wecoverin ourdiscussionof the design implications of digital money.

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Mr. Mahabub Basha S, Dr, Kethan M, Dr. Rajasulochana A.L (2023) *An
Empirical Study onthe FactorsInfluencing Usage of Mobile Payments with
Referenceto Bangalore City" Mobile banking is a way for customersto
communicatewith banksvia amobile phone: this evidently includesany kind
of digital assistant. it possible for people to conduct
Mobile banking makes
from far-off locationsandeven
transactions access
accountinformationfor very
little money.
Moving one
step further, UPI
andmobilepayments enablepeople
to carry out the same
taskfrom anywhere at any time with amobilephone. In
metropolitan areas,
andsemi-urban mobilepayments arecurrently widely used
andadopted; however, thereare
still some
problems with their use
andadoption
by anumberof users.
Thegoal of thecurrentstudy is to identify andanalyse
any gaps.
Neelamk, sonalibhattacharya (2023) "the role of mobilepayment appsin
inclusivefinancialgrowth" In moderntimes, theuse
of mobilepayment appsis
significantly contributing to thefinancialhealthof urbanareas.
This study aims
to uncover
the factors influencing urban poor households'usage of mobile
technology in Pune, Maharashtra, India, aswell asuser
behaviorin technology
adoption. In orderto comprehend their behaviorandactualusagepatterns, it is
important to graspthebackground of urbanpoorhouseholds
using m-payment
apps.Thebanking andmobiletechnology industriescouldbe affectedby the
currentstudy. They might launchbrand-newmobile industry strategies, and
sincevariableslike security, usability, can
and technological circumstances
intentionsto use
affectcustomers' m-payment apps,carefulattentionis required.

Iviane Ramosde Luna, Francisco Montoro-Rios,Sebastian Molinillo (2023)

"ConsumerBehaviourandMobile Payments in thePointof Sale:Exploring the

of Intentionto Adopt It." Thisstudy
Determinants analyzes thekey driversof
m-payment intentionandinvestigates the overalleffectsof knowledge and
accessibility of amobilepayment serviceonm-payment intention.In particular,
theimpact of perceived user
friendliness, perceived security, perceived utility,
perceived compatibility, and subjective norms wasinvestigated in a setting
wheremobilepayment was notyet feasible.Through afield experimental design
with 437potential consumers in Spain, theresearchmodelis empirically tested.
thatsubjective norms,perceived
Thefindings demonstrate security, perceived

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utility, perceived compatibility, andperceived compatibility all significantly

influencetheintentionto use.
Subjective norms
areespecially important if the
usergets the chance to usemobile payments and receives the necessary
information.
Daniel Tut (2023) and the COVID-19 pandemic: Evidence from
electronicpayment systems" The coronavirusdisease2019 (COVID-19)
pandemic's impact onfinancialinstitutionsandconsumer
adoption of financial

technology (FinTech) for payments areexaminedin this research.These

Kenyan findings are inthispublication.(1) TheCOVID-19

described epidemic
hassped up FinTechadoption andincreasedits concentrationin payments. We
recordanincreaseof 19.56%in mobile banking agents, a54% rise in mobile
banking transactions, and a 14.56% rise in mobile banking accounts.(2)
Throughout the epidemic, therewasaconsiderablereductionin the useof all
electronic payment cards. (3) The pandemic decreaseddomestic and
internationalelectroniccashtransfersvia the Real-GrossSettlementSystem and
the Automated Clearing House, and it increasedinterbank contagion and
liquidity issues.
Wei Quan, Seongseop (Sam) Kim, TadesseBekeleHailu, Wisal Ahmad &
HeesupHan (2023) "Exploring to adopt cryptocurrency
travelers'readiness
payment (vs mobilepayment)" Travelers
already mostly use
mobilepayments,
whereas
cryptocurrency payments havejust lately becomepopular. This study
sought to contrastthe two payment mechanisms'
adoption intentsandresearch

ramifications.The originality of this study residesin the incorporation of

technicalelements, perceived security, perceived danger, and perceived
convenience that affect Korean and Chinese customers' behavioral intentions.

Thefindings of thisempirical study willaidin broadeningtheindustry's

perspective onandknowledge of thistechnological breakthrough andwill make
it easierto design policies that arerelevantin the tourist and hospitality sectors.

Rizaldi Yusfiarto,Sunarsih Sunarsih &Darmawan Darmawan(2023)Unde

rstanding Muslim'sswitching fromcashto m-payments:based onpush-pull
mooring framework"In orderto identify theantecedents
of Muslims'switching
(SI) totransition
intentions tomobile
fromusingcash payments(m-payments),
this study will investigate atheoreticalmodelutilizing thepush-pull-mooring

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framework, which embraces both direct and moderating influences. the

significance asit relatesto Muslims'usageof mobile
of religious conviction
payments. Additionally, theadvantages of mobilepayments, suchastheirfun,
effectiveness, security, andconvenience, havehelped persuade Muslimpeople
to convertfrom cashto mobilepayments.
Raja Sankaran&ShibashishChakraborty(2023)
"Measuring consumer
perception of overallbrandequity driversfor m
payments" The study's findings support the idea that post-use drivers
(satisfaction) andtrust, which moderatem-payment drivers(perceived utility

andperceived ease
of use), are
whatultimately generate brandequity. Thisstudy
will assistbusinesses
in developing strategies to keep customers,createloyalty
services.Satisfactionandtrusthavea
programs,andsuccessfully brand-bundle
good impact ontotal brandequity. Thepurposeof this study was
to showthe
practical significance of CBBEfor m-payments andto examinethelink between
different driversof CBBE. The study lookedat the indirect connectionsbetween
m-payment drivers and satisfactionand their subsequent connectionsto m
payment driversof brandequity.
KanokkarnSnaeNamahoot
&Viphasiri Jantasri(2023) Integration of
UTAUT modelin Thailandcashless
payment system adoption: the mediating
roleof perceived riskandtrustThe goal of thispaperistouse
cashless
payment
systems in Thailand, which arepractically basedonthe basicmodelsand
theoriesof consumer
behavioursuchasthe theory of reasonedaction (TRA),
theory of planned behavior(TPB), andtechnology acceptance model(TAM); to
proposeamodelthatexamines
therelationships amongthefive dimensions
of
the unifiedtheory of acceptance anduse
of technology (UTAUT) towardthe
intentions(BIs); andto explain howtheadoption of cashless
overallbehavioral
payment systems in Thailandhasincreasedconsumer
confidence.
Untung Rahardja,Intan DwiHapsari, P.O.HADI
Putra& AchmadNizar
Hidayanto(2023) *Technological readiness
andits impact onmobilepayment
A case
usage: "Thisstudywas
studyof go-pay donetoexamine
theelements
that affecthow frequently Go-Pay is usedin Indonesia.A mix of technological
readiness framework,anduse
theory, technologicalacceptancetheory, valence
pattern theory is used to simulate mobile payment usagebehavior. Online

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were
surveys usedto collectthedata,whichwas
thenanalyzedusing thepartial
leastsquares
structuralequation modeling (PLS-SEM) technique. Dataanalysis
of 1,225 respondents revealedthatperceived utility andsimplicity of use
were
strongly impacted favorably by technological readiness,whereas
perceived cost
andrisk were
significantly influencedadversely. Only perceived danger and
perceived usefulness, however, had asubstantialimpact onuseintention out of
these four criteria. Additionally, the outcomes demonstrate that conducive
anduse
circumstances intentionhadaconsiderableandfavorableimpact onthe
utilizationrateof Go-Pay's fundamentalfunction.
Crystal T. Lee& Ling-Yen Pan(2023) to pay:predicting continuous
payment servicesin thepost-COVID-19
usageintentiontowardcontactless era"
As aresultof robotsandartificial intelligence, financialtechnology (FinTech)

is experiencing atransition. FinTechcompanies areadopting contactless

technology, andwidespread use
leading to thecreation of cutting-edge payment
solutions.
Facial
recognitionpayment(FRP)has inpopularityamong
grown the
many different kinds of contactlesspayment systems. It's crucial to know the
underpinning continualusageintentionstowardFRPin orderto take
mechanics
advantage of its growing popularity. This study analyzes how FRPfeatures
supportcontinuous intention
usage by using thestimulus-organism-response(S
O-R)model asaframework.
AbulKhayer, Md ShamimTalukder, Yukun Bao and Md NahinHossain
(2023) mobilepayment systems: continuance
intentionand
intention to recommend" This study evaluatesthe variables of continuation
intentionandrecommendation
for application-based mobilepayment systems.
The development of the researchmodel was
basedonanumberof information
systems theory strands.Datafrom 360respondents in Wuhan, PRChina, was
usedto testthemodel.By combining structuralequation nmodeling (SEM) and
artificialneuralnetworks(ANN) for dataanalysis, this study adopted ahybrid
approach.According to theSEM, context, habit,perceived utility, perceived
enjoyment, and satisfactionarethe main determinantsof the continuing

intention.Thedesireto promote mobileapplication-based payment is favorably

impacted by the willingness to continue.This study further supports the

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moderating role of context in the association between satisfaction and the

intention to continue.

Samar Rahi „Mahmoud Alghizzawi &Abdul HafazNgah (2023)

"Understanding consumer
behavior toward adoption of e-wallet with the
moderating role of pandemic risk: anintegrative perspective". Electronic
banking hasbeenextensively employed to managefinancialtransactions
all
aroundthe worldduring the past few decades.
Electronicwallet(e-wallet)
banking haslately beenrecognized asacutting-edge methodof e-payment that
improves the e-banking user
experience. Although e-walletbanking is faster,
easier, more
affordable, andmore
secure
thantraditionalweb-based
banking, e
walletapplication adoption is still very low amonge-banking customers.
The
currentstudy hasconceivedthe tasktechnology fit (TTF) model, diffusion of
innovation(DOI) theory, andprotection motivetheory towardthe adoption of
to solvethis issue. Additionally, the study
e-walletservices highlighted
pandemic risk asamoderating factorbetweene-walletrelationships ande
walletbanking usage
among
banking consumers.
Hway-B0on Ong & Lee-LeeChong (2023) "Theeffectof cashless
payments
onthe internetandmobilebanking". Electronicbanking hasbeenextensively
employed to managefinancialtransactions
all aroundtheworldduring thepast
few decades.
Electronicwallet(e-wallet) banking haslately beenrecognized as
a cutting-edge method of e-payment that improves the e-banking user
experience. Although e-walletbanking is faster, easier, more
affordable, and
more
secure
thantraditionalweb-based
banking, e-walletapplication adoption
is still very low amonge-banking customers.
The currentstudy hasconceived
the tasktechnology fit (TTF) model, diffusion of innovation(DOI) theory, and
protection motivetheory towardthe adoption of e-walletservicesto solvethis
issue.Additionally, thestudy highlighted pandemic risk asamoderating factor
betweene-walletrelationships and e-walletbanking usageamongbanking
consumers. series.The study analyzed datafrom realcustomer
analyses of timne

transactions, asopposed to studiesonintentionsto use cashlesspayments, the

internet, andmobilebanking. Third, thisresearch
proved thatonlineandmobile

banking were
delivery methodsfor cashless
transactions.

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Khwanjra Ponsree, Taksin Phongpaew & Phaninee Naruetharadhol

(2023) "Study of ThaiYouthsin theNorth-eastern onthe
Region of Thailand
Effectivenessof Digital Payment Behaviour"Due to its benefitsanddiversity,
digital payment, alsoknownase-payment, is widely usedin thecurrentcashless
society. The unified theory of acceptance anduse
of technology (UTAUT),
to study consumers'
whichhasbeenusedfor decades adoption of technology, is

being increasingly usedin digital payment systems. In northernThailand, the

behavioralintentionsof youngsters concerning theuse
of digital payments are
unknown. Thus, 384 Thai teenagers from the northeasterregion who
participated in the study provided uswith the data.We found that youth's
behavioral intentions arefavourably influenced by expectations about
performance, effort, andsocialinfluence.Youthuse
behaviour
is alsopositively
impacted by enabling circumstances
and behavioralintention.The biggest
predictor of use
behaviour, according to ourresearch, is behavioralintention,
andbehavioral
intentionis thestrongest predictor of performance expectations.
This finding suggests that moreusefuldigital payment options increase
customerintent to use
them.We believethat market-ready servicesanda user
friendly interfacewill be developed by digital payment serviceproviders. In a
similarspirit, weanticipate thatcompanies andentrepreneurs will adopt digital
payments and make them available to both current and future customers,
whether their activities areonline or offline.
RakeshKumar, TilottamaSingh, SachiNandan
Mohanty, Richa
Goel, Dee
pak Gupta, MeshalAlharbi & Rupa Khanna (2023) "Study on online
payments ande-commerce
with SOR model" The study discoveredthat
consumers'pleasure and behavior when using online payment servicesare
influencedby utilitarian, hedonic, andsalesperson behavior.According to the
study, there is a substantialdirect connectionbetweencustomerbehavior and
Thisstudy
satisfaction. investigates therolethatfinancialmobileservices
play

in theadoption of e-commerce,
particularly in India.

DarshiSuraj Shah& Dr.Chinmayee Bhatt(2023) "digital payment in rural

gujarat- anempirical evidencefor atmanirbharbharatDigital payments are
thosemadewithout the actualexchange of cash.Thesetransactionstakeplace
digitally in the field of digital financial services.In industrialized countries,

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severaldigital payment techniques havebeenexaminedby variousacademics;

however,indeveloping countries a
likeIndia, thereis significant study gap.The
is to gaugeruralGujarati user'sperceptions of digital payments.
study's goal
Thestudy is foundedonaprimary investigation. SPSS26.0is usedfor data
analysis. Research
addssignificant valuefor academics, business, industry, and
society atlarge.

2.3 RESEARCH GAP

From the literature, the following gapshavebeenidentified

1.Most ofthestudy hastakenplace in otherpart of IndiaandLinmited
study has

takenplace in Karnataka.
2. Most of the previous studiesarebasedonoverall analysis of FinTechand
payment apps.
3. Few studieswere
empirical in natureandit hasbeenanalysed thattime period

takenfor thestudy is veryless.

4.No study wasconducted
onswitching intentionof mobilepayment
application by users
in Hassan.

2.4 RESEARCH DESIGN

2.4.1 TITLE OF THE STUDY

EXPLORING USER SWITCHING INTENTION OF MOBILE PAYMENT

APPLICATIONS-A
STUDYy"

2.4.2 STATEMENT OF PROBLEM

Onlinepayment is verymuchusedin recentyearsdueto convenience, speedy a

transaction, saving time, attractivesalespromnotional offers, etc., Despite these
factors, there arevarious transactionaland non-transactionalissuesinvolved
suchasinternet user
being uncomfortableoften etc. This is especially true in the

consumers
context of in small cities, where online payment is still new, and
consumers
arelessfamiliar andoften more skeptical towardsit. Therefore, this

study aimsto examinethecustomersatisfactiontowardsonlinepayment apps.

And also to analyze the issuesand difficulties faced by the customerstowards
onlinepayment appsin Hassan
District, Karnataka. will bestep in
Theresearch
that direction.

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2.4.3 RESEARCH OBJECTIVES

1. To understand
theconcept of payment appsandFinTech.
theawareness
2. Tocheck of paymentappsamong
thepublic.
3. To knowtheOpinion towardsPayment appsamongthepublic.
4. To identify themostfrequently usedpayment appsandChallenges facedby
Respondents.

2.4.4 RESEARCH METHODOLOGY

2.4.4.1 RESEARCH DESIGN

It is impossible to examinethewholeuniverseaccurately andcomprehensively,

soasamplethataccuratelyrepresentsthepopulation istobeselected
toconduct
the study. A sample is therepresentation of theuniverse.
Thefollowing steps
were
takenatthetimeof designing thesample.
2.4.4.2 SAMPLE DESIGN

It is impossible to examinethewholeuniverseaccurately andcomprehensively,

SO a sample thataccurately represents thepopulation is to beselected
to conduct
the study.A sample is therepresentation of theuniverse.
Thefollowing steps
were
takenatthetimeof designing thesample.
2.4.4.3 SAMPLE SIZE

In ourstudy, theprimary datais collected

from 120respondentsbasedon
differentdemographicalvariables.
2.4.4.4SAMPLING TECHNIQUE
Sampling Methodto collectthe data.
Thisstudy usedConvenience
2.4.4.5 METHOD OF DATA COLLECTION

The sources
andtechniques for gathering dataare
primary andsecondary data

collecting.
> Primary Data Collection: Primary data have been collectedthrough
interviewusing Structured
questionnaires.

> SecondaryDataCollection:
Datacollection
through secondary sources
is
referredto when datawas
collectedby other sources
through aliterature
were
review.Sources published research
papers,
magazines, journals,
variousarticlesandconferencepapers,websites, etc.

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2.4.4.6 TOOLS FOR ANALYSIS OF DATA

Thedatacollectionis arranged andtabulatedaspertheobjectives of the study.

The datais presented in the form of tables, graphs etc.

2.4.5 SCOPE OF THE STUDY

The researchwillbe confinedto analyse the Awareness

and opinion about
FinTechandpayment appsandalsoIntentionto FinTechappsandchallenges
facedby customers District, Karnatakastate.
regarding FinTechappsin Hassan

The study will be based on the responsesobtained from Arkalgud,

holenarasipura andHassanTalukin Hassandistrict.

2.4.6 LIMITATION OF THE STUDY

1. Thesample will bedrawnfromthePayment appsbeneficiaries

of Hassan
District.
2. The study will be basedonprimary data; respondents might not disclose
all the facts.

3. The respondents will be selectedby convenience

randomsampling
method.
4. Thetimeconstraintwas
alimiting factors, asmore
timerequired carrying

outstudy onotheraspect of thetopic.

2.4.7 OUTLINE OF CHAPTER PLAN
CHAPTER 1: INTRODUCTION ABOUT THE TITLE

This Chapter includes the Introduction to Banking, Definition, Meaning,

Functionsof Banks, Types of Banksand Meaning, defining, history and

objectives of mobilepayment application andMeaning, history, evolutionof
Fintech
apps
andprofile of selected
companies.

CHAPTER 2: REVIEW OF LITERATURE AND RESEARCH DESIGN

This Chapter includes review of Literature, Statement of the Problem,

Objectives of the Study, ResearchMethodology, Data CollectionMethods,
Toolsfor datacollection, Limitationsof theStudy andScope of theStudy.

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CHAPTER 3: RESPONDENTS PROFILE

ThisChapter includes
theRespondentsprofile consisting Gender,Age, Place,
Occupation, Educational
Background, Marital Statusand Incomeof the
Respondents.

CHAPTER 4:DATA ANALYSISAND INTERPRETATION

This chapter includesthe mainwork of the researchstudy. It Containsanalysis
of the datacollectedwith Interpretation in tunewith the objectives. Analysed

data represented in the form of Graphs, Tables and Diagrams with

Interpretation.

CHAPTER 5: FINDINGSAND SUGGESTIONSAND CONCLUSION

This Chapter consistsof thefindings from theresearch
study, the suggestions
given and it includes the overall conclusion of the researchstudy.
BIBLIOGRAPHY

Research
Papers, Websites, Magazines andBooksreferredfor the study.

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RESPONDENTS
-
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RESPONDENTS PROFILE
This chapter discusses
the Demographic Profile of the Respondents. The data
wasanalysed basedonthe Demographic VariablesandQuestionnaireitems
using Tables, Chartsandtheresultsare
hereby presented.
TABLE:3.1

CITY OF THE RESPONDENTS

Particulars Frequency Percentage

Arakalagudu 42 35%

Hassan 40 33%

Holenarasipura 38 32%
TOTAL 120 100%

Source:Primary Data

Figure: 3.1

City of the respondents

32% 35%
Arakalagudu

Hassan

33%

MHolenarasipura

INTERPRETATION:

Thetabledisplays thepercentage distributionfor threecities:Arkalgud, Hassan,

andHolenarasipura. Arkalgud hasthehighest percentage at 35%, followedby
Hassanat 33% and Holenarasipura at 32%. Hassanand Holenarasipura have
a1%difference.Thedatahighlights
similarpercentages, with only thevarying
across
degrees of represented elements thesethreecities.

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TABLE: 3.2

GENDER OF THE REPONDENTS

Particulars Frequency Percentage

Male 80 66.7%

Female 40 33.3%

TOTAL 120 100%

Source:Primary Data

Figure: 3.2
Genderof theRespondents

33.3%

male
66.7%
female

INTERPRETATION:

The table shows66.7%male respondents in the survey,while 33.3%were

female,indicating ahigher participationratefrom males. balance
Gender is
crucialfor representative resultsandfurtheranalysis.

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TABLE: 3.3

MARITAL STATUS OF THE RESPONDENTS

Particulars Frequency Percentage

Married 47 39.2%

Unmarried 73 60.8%

TOTAL 120 100%

Source: Primary Data

Figure: 3.3

Marital Statusof the respondents

39.2%
Married
60.8%
Unmarried

INTERPRETATION:

The table shows that 60.8% of the population is Unmarried, while 39.2% is
Married.Thisindicatesasignificant proportion of individualswhohavenotyet
enteredinto marriage. The higher percentage of unmarriedindividualsmay
reflectsocietaltrendsordemographics. Thedataoffersvaluableinsights into
themaritallandscape within thestudiedpopulation.

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TABLE:3.4

AGE OF THE REPONDENTS

Particulars Frequency Percentage

Below 20 6 5%

20-30 76 63%

30-40 27 23%
Above 40 11 9%

TOTAL 120 100%

Source:Primary Data

Figure:3.4

Age of the repondents

Below
20 20-30 M30-40 Above 40

5%
9%
23%

63%

INTERPRETATION:

This table illustratesthe age distributionof the population in different age

groups.Thelargest agegroupis 20-30, whichconstitutes
63%of thepopulation,
indicatingasignificant presence
of youngadults.
Thesecond-largestgroupis
30-40,accounting for 23%, suggestingasubstantial
proportion in theirthirties.
Thosebelow20yearsold makeup 5%of thepopulation, arelatively
indicating
smallerportion of minors.The above40category constitutes9%, reflecting a
smallerbut notablepercentage of olderindividuals.Thetableprovides aclear
picture of theagecomposition, with aprominent focusonthe20-30agerange.

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TABLE:3.5

EDUCATIONAL QUALIFICATION OF THE RESPONDENTS

Particulars Frequeney Percentage
Up to SSLC 16 13.3%

Up to PUC/DIPLOMO 22 18.3%

Graduate 50 41.7%

Post Graduate 32 26.7%

Professional 0%

TOTAL 120 100%

Source:Primary Data

Figure: 3.5

Educationalqualification of the respondents

Frequency Percentage

UP TO SSLC UP TO GRADUA TE POST PROFESSIONAL

PUC/DIPLOMO GRADUA TE

INTERPRETATION:

Thetableshowstheeducational
distribution
of the population, with graduates
accounting levelsare
for 41.7%andpostgraduates at 26.7%.Higher education
declining, with 18.3%having aPUCDiploma and 13.3%having anSSLC.The
"Professional"category hasa0% share.

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TABLE: 3.6

OCCUPATION OF THE RESPONDENTS

Particulars Frequency Percentage

Businessman 3 2.5%
Government 16 13.3%
Private 16 13.3%
Agriculturist 7 6%
Student 45 37.5%
SelfEmployed 15 12.5%
Home Maker 16 13.3%
Other 1.6%
TOTAL 120 100%
Source:Primary Data

Figure:3.6
Occupation of the respondents
Other J60%
Home Maker 13.30%
16
SelfEmployed 12.50% 15

Student|37.50% 45
6%
Agriculturist
Private 13.30%
16
Government 13.30%
16
Businessman 350%
10 20 30 40 50

MPercentage Frequency

INTERPRETATION:

The table showsthe occupational distribution of the population, with students

accounting for 37.5% of the total. Governmentand private sectorsaccountfor
13.3% of employment, while businesses, agriculture, self-employed, and
homemakers tothediversity of occupations.The"Other"category has
contribute
a smallpercentageof nature
1.6%,highlighting themultifaceted of the
population's occupations.

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TABLE: 3.7

INCOME OF THE RESPONDENTS

50000
--
Particulars

Below 10000

10000

Above 100000
50000

100000
Frequency
57

61

0
Percentage
47.5%

50.8%
1.7%

0%

TOTAL 120 100%

Source:Primary Data

Figure: 3.7
Incomeof the respondents
Frequency Percentage

61
57

47.50%

Below 10000 - 50.80%

10000 50000
2 170%

50000- 100000
0%

Above 100000

INTERPRETATION:

The table shows income distribution across

different income brackets, with
50.8% falling within the "10000-50000"range.47.5% falls below this range,
indicating a significant number of individuals with lower incomes. No
individuals report anincome above 100000, possibly due to the dataset's
limitationsorthe population being rangehasa
studied.The "50000-100000"
smallshareof 1.7%, showcasing moderate
incomes.
Overall, thetableprovides
insight into incomediversity within the population, with asignificant number
of individualsearning between10000and50000.

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DATAANALYSIS AND
INTERPRETATION
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DATA ANALYSISAND INTERPRETATION

This chapter discussesthe Data analysis and Interpretation. The data was
analysed basedontheresearch
objectives andQuestionnaire
itemsusing Tables,
Chartsandthe resultsare
hereby presented.

TABLE: 4.1

BANK ACCOUNT HOLDERS

Particulars Frequency Percentage

PublicSectorBank 74 62%

Private Sector Bank 46 38%

Foreign Bank 0%

Others 0%

TOTAL 120 100%

Source:Primary Data

Figure: 4.1
Bank account holders

0%

38%
PublicSectorBank

62% Private SectorBank

MForeign Bank
Others

INTERPRETATION:

The tabledisplays the distributionof bankaccountsbasedontheir sector.Public

sectorbankshold 62% of accounts, with anmajority preferring thesebanksfor
financialneeds.Privatesectorbankshold 38%, with a significant portion
trusting theseinstitutions for their banking services.No accountsareheld in
foreign orothertypes of banks.

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TABLE:4.2
MOBILE PAYMENT APPLICATION USERS

Particulars Frequency Percentage

PhonePe 106 33.2%

Paytm 89 28%

Google Pay 92 29%

AmazonPay 22 6.8%

BHIM 2 0.6%

Bharatpe 5 1.5%

YourBanksApplication 3 0.9%
others 0%

TOTAL 319 100%

Source:Primary Data

Figure: 4.2

Mobilepayment application users

120 106

100 89 92

80

60

40
22
2
20 33.2% 28% 29% 6.8% 0.6% 15% 0.9% 0.00%

Frequency Percentage

INTERPRETATON:

ThetableshowsPhonePe
dominatesthemobilepayment marketwith 33.2%of
users,followed by Google Pay with 29% and Paytm with 28%. Other
applications like AmazonPay, Bhim, BharathPay, andYour BankApplication
have smaller user
bases, with less than 10% combined.

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TABLE: 4.3
FREQUENTLY USED MOBILE PAYMENT APPLICATION

Particulars Frequency Percentage

PhonePe 104 34.2%
Paytm 84 27.6%
Google Pay 89 29.4%
AmazonPay 2 0.6%
a
BHIM 6 2%
Bharatpe 0.6%
YourBanksApplication 17 5.6%
others 0 0%
TOTAL 304 100%
Source:Primary Data

Figure: 4.3
Frequently usedmobilepayment application

Frequency Percentage

104
84 89

5.6%
34.2% 27.6% 29.4% 0.6% 2% 0.6% 17 0%
6
2 2

Pay Pay BHIM others

PhonePe
Paytm
Amazon
Google Bharatpe Application
Your
Banks

INTERPRETATION:
Thetableshowsthemarketshareof popular mobilepayment applications, with
Google Pay dominating at 29.4%, followed by PhonePeat 34.2%.Paytm, at
27.6%,dominates
themarket,whilecompetitors likeAmazonPay,BharatPay,
andYourBankApplication havesmallershares, with YourBankApplication at
5.6%.

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TABLE: 4.4
USAGE OF PAYMENT APPS BY ITS CUSTOMER

Particulars Frequency Percentage

Lessthan 1year 17 14%

1-3 years 82 68%

3-6years 21 18%
More than 6 years 0%

TOTAL 120 100%

Source:Primary Data

Figure:4.4
Usage of payment appsby its customer
Frequency Percentage

82

21
17

14% 68% 18% 0%

Lessthan 1 year 1-3years 3-6 years Morethan 6

years

INTERPRETATION:

The tableshowsthat 14%of 120respondents haveusedthe mobilepayment

application for lessthanone
year,while 68%havebeenusing it for 1-3 years
and 18%for 3-6 years.Nonehavebeenusing the application for more
than6
years.

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TABLE: 4.5

AVERAGE MONTH FREQUENCY OF USING MOBILE PAYMENT

APPLICATION

Particulars Frequency Percentage

1-3 times 19 15.8%
4-7 times 35 29.2%
8-16 times 51 42.5%

Almosteveryday 15 12.5%
TOTAL 120 100.00%
Source:Primary Data

Figure:4.5
averagemonthfrequency of using mobilepayment application

Frequency Percentage

51

35

19
15

15.8% 29.2% 42.5% 12.5%

1-3 times 4-7 times 8-16 times Almosteveryday

INTERPRETATION:

Thetableshows of respondentsuse
that42.50% mobilepaymentapplications 8
16 times a month, with 29.20% falling into this category. The secondmost
common frequency is 4-7timesamonth, with 15.80%
using it 1-3timesamonth.
A smallproportion, 15.80%, usesit almosteveryday, indicating adedicated
groupof frequent users.

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4.6. AWARENESS AB0UT THE FOLLOWING PRODUCTS AND

SERVICESPROVIDED BY FINTECHAPPS
TABLE: 4.6.1

AWARENESSABOUT RECHARGE SERVICE

Particulars Frequency Percentage
Yes 111 92%

No 9 8%

TOTAL 120 100%

Source:Primary Data

Figure:4.6

Recharge service

8%

Yes

No
92%

INTERPRETATION:

Thetableindicatesthat92%of respondents are

aware
of fintechapps' recharge
service, indicating ahigh levelof awareness.
Only 8%are
notaware,
indicating
that the serviceis well-known and commonly used. Overall, the data shows a
positive levelof awareness
andusage
of fintechapps'recharge service.

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TABLE: 4.6.2

AWARENESS ABOUT TICKET BOOKING SERVICE

Particulars Frequency Percentage

Yes 45 37%

No 75 63%

TOTAL 120 100%

Source:Primary Data

Figure:4.6.2
Ticketbooking Service

Yes
37%

No
63%

INTERPRETATION:

The table indicatesthat 63% of respondents arenot aware of the ticket booking
serviceofferedby fintech apps,while 37% are aware.This indicatesamoderate
level of awarenessand63% do not use fintech appsfor ticket booking. The data
suggests that the ticket booking serviceis lesswell-knownandcommonly used
thanrecharge services.

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TABLE: 4.6.3
AWARENESS ABOUT COMMERCIAL BILLS (SHOPPING ETC)

Particulars Frequency Percentage

Yes 73 61%

No 47 39%

TOTAL 120 100%

Source: Primary Data

Figure: 4.6.3

Commercial
Bills (Shopping etc)

39%

Yes
61% No

INTERPRETATION:

The table indicates that 61% of respondentsareaware of fintech apps'

commercial bill service, while 39% arenot. This indicates a high level of
awareness andwidespread use of fintechappsfor commercial
bill payments.
Overall, fintechappsare well-knownandcommonly usedamongrespondents.

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TABLE: 4.6.4

AWARENESS ABOUTHOUSE UTILITY BILLSSERVICE

Particulars Frequency Percentage
Yes 107 89%

No 13 11%

TOTAL 120 100%

Source: Primary Data

Figure: 4.6.4
HouseUtility bills Service
MYes No

11%

89%

INTERPRETATION:

Thetableshowsthat89%of respondents areawareof fintechapps' houseutility

bill payment services, with only 11%not aware.
The najority of respondents
use
fintechappsfor variousbills, including water, electricity, grocery,prepaid
mobilebills, DTH recharge, andrecreationexpenditure.

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TABLE: 4.6.5
AWARENESS ABOUT HOTEL BO0KING SERVICE

Particulars Frequency Percentage

Yes 17 14%

No 103 86%

TOTAL 120 100%

Source:Primary Data

Figure:4.6.5

Hotel booking Service

14%

86%

IYes No

INTERPRETATION:

The data showsthat only 86% of the target audienceis not aware
of fintech apps'
hotel booking services, while 14% areaware.
This indicateslow awareness
and
adoption. Fintechappsneedto improve marketing and promotion efforts to
increaseawareness
andusage.Offering competitive featuresandbenefitscould
attract more users.

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TABLE: 4.6.6

AWARENESS ABOUTINSURANCE PREMIUM SERVICE

Particulars Frequency Percentage

Yes 55 46%

No 65 54%

TOTAL 120 100%

Source:Primary Data

Figure: 4.6.6
Insurancepremium Service

Yes
No 46%
54%

Yes No

INTERPRETATION:

The data shows 54% of the target aware

audienceis not of fintech apps'
insurancepremium services, while 46% areaware.
This indicatesmoderate
awareness
andadoption. Improvements in marketing andpromotion areneeded
to increaseusageand attractmore
users.
The fintech appmarkethaspotential
for growth anddevelopment.

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TABLE: 4.6.7

AWARENESSABOUT TRANSFER OFFUNDSSERVICE

Particulars Frequency Percentage
Yes 116 96.7%
No 4 3.3%

TOTAL 120 100%

Source:Primary Data

Figure: 4.6.7
Transfer of funds Service

3.3%

Yes

No

96.7%

INTERPRETATION:

The datashows96.7%of Respondents areaware of fintech apps' fund transfer

service, while 3.3%are not. This indicateshigh awareness andadoption, with
successfulmarketing effortsreaching alarge audience.

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TABLE: 4.6.8

AWARENESS ABOUT PAY FOR FUEL AT PETROL PUMPS

SERVICE

Particulars Frequency Percentage

Yes 76 63%

No 44 37%

TOTAL 120 100%

Source:Primary Data

Figure: 4.6.8
Pay for fuel at petrol pumps

37%

63% Yes
No

INTERPRETATION:

The dataindicatesthat 63% of the target audienceis aware

of paying for fuel at
petrol pumpsusing fintechapps,while37%are
not.Thisindicatesamoderate
levelof awareness Improvementsin marketing and
andadoptionof thisservice.
promotion areneededto
efforts increase awareness.
The majority of the
audienceis aware.

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TABLE: 4.6.9

AWARENESS ABOUT BANKING RELATED TRANSACTION

SERVICE

Particulars Frequency Percentage

Yes 65 54%

No 55 46%

TOTAL 120 100%

Source:Primary Data

Figure: 4.6.9
Banking relatedtransaction

46% Yes
54% No

INTERPRETATION:
The data showsthat 54% of the target audienceis aware
of fintech apps'
banking-related transactions, while 46% arenot. This indicatesamoderatelevel
of awareness
andadoption. Inmprovements in marketing andpromotion efforts
areneeded to increase awareness.
However, overhalf of the audience is aware.

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TABLE: 4.6.10
AWARENESS ABOUT PAY FOR LPGCYLINDER SERVICE
Particulars Frequency Percentage
Yes 75 63%

No 45 38%

TOTAL 120 100%

Source:Primary Data

Figure: 4.6.10
Pay for LPG cylinder

38%

63% Yes
No

INTERPRETATION:

The data indicatesthat 63% of the target audienceis aware

of fintech appsfor
paying LPG cylinders, while 38% arenot. This indicatesa high level of
awareness,
with marketing andpromotion effortssuccessful.However, thereis
room
for improvement, asasignificant portion remainsunaware.
Fintechapps
havethepotential toprovide convenient
payment options for LPGcylinders, but
furthereffortsare
neededto increaseawareness
andadoption.

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4.7 KINDLY RATE THE FOLLOWING PRODUCTS AND SERVICES

PROVIDED BY FINTECH APPS

TABLE:4.7.1

RATING ON RECHARGE SERVICE

Particulars Frequency Percentage

Extremelypoorquality 4 3%

Poorquality 21 18%

Average 56 47%

High quality 39 32%

Extremely high quality

TOTAL 120 100%

Source:Primary Data

Figure: 4.7.1

Recharge service
Frequency Percentage

56

39

21

4
3% 18% 47% 32% 0 0

Extremely Poor Average High Extremely

poor quality quality high
quality quality

INTERPRETATION:

Thetableindicatesthat47%of respondent's ratefintechapps' recharge service

asaverage,indicating potential for improvement. A significant portion (32%)
rate the serviceashigh quality, while a small percentage (3%) rate it as
extremely poorquality.

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TABLE: 4.7.2
RATING ON TICKET BOOKING SERVICE

Particulars Frequency Percentage

Extremely poorquality 1%

Poorquality 32 27%

Average 53 44%

High quality 28 23%

Extremely high quality 6 5%

TOTAL 120 100%

Source:Primary Data

Figure: 4.7.2
Ticket booking service
-Frequency -Percentage

53

32
28

19% 27% 44% 23% 5%

Extremely poor Poor quality Average High quality Extremely high
quality quality

INTERPRETATION:

Thetableshowsthatthemajority of users
rateticketbooking servicesasaverage
(44%), poor(27%), orhigh (23% ). A significant portion considers
it high, while
asmallerpercentage finds it extremely poor(1%) orextremely high (5%).
Despite the lack of quality, a significant portion still perceives it ashigh,
indicating avarieduserexperience.

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TABLE:4.7.3
RATING ON COMMERCIAL BILLS(SHOPPING ETC) SERVICE
Particulars Frequency Percentage

Extremelypoorquality 1 1%

Poorquality 16 13%

Average 46 39%

High quality 40 33%

Extremely high quality 17 14%

TOTAL 120 100%

Source:Primary Data

Figure:4.7.3
Commercial
bills (shopping etc)
Frequency Percentage

46
40

16 17
13% 399% 339% 14%

Extremely Poorquality Average High quality Extremely

poorquality high quality

INTERPRETATION:

Thetableshowsratings for Fintechapps' commercial

bill services,including
shopping A smallpercentage of users
andotherexpenses. ratedthequality as
extremely poor,while 13%considered
it poor.Themajority foundthe quality
to be average(39%) orhigh (33% ), with 14% stating it asextremely high

quality.

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TABLE: 4.7.4

RATING ON HOUSE UTILITY BILLS SERVICE

Particulars Frequency Percentage

Extremelypoorquality 2%

Poorquality 5 4%

Average 40 33%

High quality 60 50%

Extremely high quality 13 11%

TOTAL 120 100%

Source:Primary Data

Figure: 4.7.4
Houseutility bills service
Percentage Frequency

11%
Extremely high quality 13

50%
High quality 60

L33%
Average 40

Poor quality

2°%
Extremely poorquality

INTERPRETATION:

Thetableshowsuser
ratings for Fintechapps' houseutility bill management
Themajority of users
services. ratethequality ashigh (50%), average(33%),
orextremely high (11%). Fewusers
ratethequality aspoor(4%) orextremely
poor (2% ). Overall, the majority of users
find the Fintech app's services
satisfactory to high quality, with a smallerminority having lesspositive
evaluations.

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TABLE:4.7.5
RATING ON HOTEL BOOKING SERVICE

Particulars Frequency Percentage

Extremely poorquality 4 3%

Poorquality 33 27%

Average 55 46%

High quality 20 17%

Extremely high quality 7%

TOTAL 120 100%

Source:Primary Data

Figure: 4.7.5
Hotel booking service
Frequency Percentage

A6%

27%

55
17%

33

3% 20

Extremely Poorquality Average High quality Extremely

poorquality high quality

INTERPRETATON:

user
Thetableshows ratings forhotelbooking services by Fintech
offered apps.
A significant percentage of users
ratethequality asaverage
(46%), p0or (27%),
high (17%), orextremely high (7%). A smallpercentage find the service
extremely poor(3%). Overall, theratings indicateamixedreception of Fintech
apps' hotelbooking services.

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TABLE: 4.7.6

RATING ON INSURANCE PREMIUM SERVICE

Particulars Frequency Percentage

Extremelypoorquality 3 2%

Poorquality 21 18%

Average 50 42%

High quality 40 33%

Extremely high quality 6 5%

TOTAL 120 100%

Source:Primary Data

Figure: 4.7.6

Insurance premium service

Frequency Percentage

Extremely high quality 5%

High quality 40 33%

Average 50 42%

Poorquality 21 18%

3 2%
Extremely poorquality

INTERPRETATION:

Thetableshowsuser
ratings for insurance
premium management products and
onFintechapps.A significant
services proportion ratethequality asaverage
(42%), high (33%) andpoor(18%). A smallerportion findsit extremely high
(5%), andasmallerpercentage perceives it asextremely poor(2%).

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TABLE: 4.7.7

RATING ON TRANSFER OF FUNDS SERVICE

Particulars Frequency Percentage

Extremelypoorquality 4 3.50%

Poorquality 4 3.50%

Average 29 24%

High quality 54 45%

Extremely high quality 29 24%

TOTAL 120 100%

Source:Primary Data

Figure: 4.7.7
Transfer of funds service
Frequency Percentage

3.50% 3.50% 24% 45% 24%

4 4 29 54 29

Extremely Poorquality Average High quality Extremely

poorquality high quality

INTERPRETATION:

The table showsuser

ratings for Fintech app-provided fund transfer services,
with a majority rating themashigh (45%) orextremely high (24%). A
significant portion (24%), whileasmaller
foundthequality average percentage
perceived it aspoor(3.50%) orextremely poor(3.50% ).

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TABLE: 4.7.8
RATING ON PAY FORFUEL AT PETROL PUMPS SERVICE

Particulars Frequency Percentage

Extremelypoorquality 3 2%

Poorquality 14 12%

Average 41 34%

High quality 41 34%

Extremely high quality 21 18%

TOTAL 120 100%

Source:Primary Data

Figure: 4.7.8
Pay for fuel at petrol pumpsservice

41 41

21

14

3
2% 12% 34% 34% 18%

Extremely Poorquality Average High quality Extremely

poorquality high quality

Frequency Percentage

INTERPRETATION:
Thetablepresents user
ratings for Fintechapps' fuel payment services, showing

awell-balanceddistribution.A majority of users

ratethe quality ashigh or
extremely high, while34%consider A smallerpercentage find it poor
it average.
(12%) andaminorpercentage perceive it asextremely poor(2%).

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TABLE: 4.7.9

RATING ON BANKING RELATED TRANSACTION SERVICE

Particulars Frequency Percentage

Extremelypoorquality 3%

Poorquality 9%

Average 39 33%

High quality 46 38%

Extremely high quality 20 17%

TOTAL 120 100%

Source:Primary Data

Figure: 4.7.9
Banking relatedtransactionservice
Frequency Percentage

3% 9% 38%
33% 17%

4
11 39 46 20

Extremely Poorquality Average High quality Extremely

poor quality high quality

INTERPRETATION:

The table showsuser

ratings for Fintechapps' banking-related transaction
services, with 38%ratedhigh orextremely high, 33%average,9% poor,and
3% extremely poor.A majority of users perceive theseservicesashigh or

extremely high quality, withasmallerminority having lesspositive evaluations.

Overall,thedata a
indicatesrelativelypositive perceptionofthese
service

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TABLE: 4.7.10
RATING ON PAY FOR LPG CYLINDER SERVICE

Particulars Frequency Percentage

Extremelypoorquality 3 2%

Poorquality 5 4%

Average 48 40%

High quality 39 33%

Extremely high quality 25 21%

TOTAL 120 100%

Source:Primary Data

Figure: 4.7.10
Pay for lpg cylinder service
Percentage Frequency

21%
Extremely high quality 25

High quality
339% 39

40%
Average 48

4°%
Poorquality

2%
Extremely poor quality

INTERPRETATION:

Thetableshowsuser
ratings for Fintechapps' LPGcylinder payment services,
with abalanced of opinions. A significant
distribution portion of users
ratethe
quality asaverage(40%), high quality orextremely high quality (21%).
(33%),
A smallerpercentage found it poor (4%), and a minority perceived it as
apositive reception of Fintech
extremely poor(2% ). Overall, thedataindicates
appservices
for LPGcylinder payments.

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4.8KINDLY GIVE YOUR OPINION REGARDING FINTECHAPPS

SERVICES
TABLE: 4.8.1
OPINION ON MORE CONVENIENT THAN BRANCH BANKS

Particulars Frequency Percentage

Strongly agree(SA) 73 61%

Agree (A) 37 31%

Neutral(N) 7%

Disagree(D) 1 1%

Strongly disagree (SD) 0%

TOTAL 120 100%

Source:Primary Data

Figure: 4.8.1
More Convenient Than Branch Banks

Frequency Percentage

37

61% 31% 7% 1 1% 0%

Strongly Agree (A) Neutral (N) Disagree (D) Strongly

agree(SA) disagree (SD)

INTERPRETATION:

Thetableshowsastrong preference in fintechappservicesover

for convenience
traditionalbranchbanks, with 61% of users
strongly agreeing and agreeing
(31%). Themajority of users
areneutral(7%) anddisagree (1%), indicating

widespread acceptance of the convenience

factor. The absenceof strongly

disagree responses
(0%) highlights the widespread consensus
onthe higher
factorof fintechappservicescompared to branchbanks.
convenience

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TABLE: 4.8.2

OPINION ON ENCOURAGES DIGITAL PAYMENTS

Particulars Frequency Percentage

Strongly agree(SA) 30 25%

Agree (A) 71 59%

..
Neutral(N) 19 16%

Disagree (D) 0%

Strongly disagree (SD) 0%

TOTAL 120 100%

Source:Primary Data

Figure: 4.8.2

Encourages Digital Payments

Frequency Percentage

59%

25% 71
16%

30
19 0% 0%

Strongly Agree (A) Neutral (N) Disagree (D) Strongly

agree(SA) disagree (SD)

INTERPRETATION:

Thetableshowsastrong positive sentimenttowardsfintechapps,with 59% of

usersagreeing, strongly agreeing 25%). A low neutralresponse(16%) indicates
asignificant portion of users
acknowledging thepositive impact of fintechapps
ondigital payments. Theconsensus is thatfintechappsareeffectivein fostering
digital payment adoption, highlighting their pivotal role in driving the shift
towards
digital payments.

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TABLE: 4.8.3

OPINION ON HELP IN CONTROLLING BLACK MONEY

Particulars Frequency Percentage

Strongly agree(SA) 55 46%

Agree (A) 54 45%

Neutral(N) 10 8%

Disagree (D) 1%

Strongly disagree (SD) 0%

TOTAL 120 100%

Source:Primary Data

Figure: 4.8.3

Help In Controlling BlackMoney

-Frequency -Percentage

54

1
46o 45% 8 1% 0%
Strongly agree Agree (A) Neutral (N) Disagree (D) Strongly
(SA) disagree (SD)

INTERPRETATION:

The table shows a consensus

that fintech apps positively contribute to
controlling blackmoney,with 46% of users strongly agreeing and agreeing
(45%). A low neutralresponse(8%) suggests asignificant portion of users
recognize thepotential of fintechappsin curbing blackmoney.Theabsence
of
disagreeorstrongly disagree responses reinforcesthe overallsentimentthat
fintechappsareeffectivetoolsfor controlling blackmoney.

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TABLE:4.8.4
OPINION ON SERVE THEIR CUSTOMERS 24X7 DAYS A WEEK

Particulars Frequency Percentage

Strongly agree(SA) 36 30%

Agree (A) 67 56%

Neutral (N) 16 13%

Disagree (D) 1 1%

Strongly disagree (SD) 0%

TOTAL 120 100%

Source:Primary Data

Figure: 4.8.4

Serve Their Customers 24x7 Days A Week

Percentage Frequency

Strongly disagree (SD)

1%
Disagree (D) 1

Neutral(N)
13%.
16

S6%
Agree (A) 67

309%%
Strongly agree(SA) 36

INTERPRETATION:

The tableshowsastrong positive perception of fintechapps' ability to serve

24/7, with 86%of users
customers eitherstrongly agreeing (30%) oragreeing
(56%). A low neutralresponse(13%) indicatesa significant portion of users

recognize of disagree orstrongly

their24x7availability. Theabsence disagree
confirmstheirstrong beliefin providing
responses uninterrupted services
and
round-the-clock accessibility and assistance.

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TABLE: 4.8.5

OPINION ON PROVIDES INSTANT ALERT MESSAGES IN CASE OF

FRAUD AND SECURIT ISSUES

Particulars Frequency Percentage

Strongly agree(SA) 40 33%

Agree (A) 50 42%

Neutral(N) 25 21%

Disagree (D) 5 4%

Strongly disagree (SD) 0%

TOTAL 120 100%

Source:Primary Data

Figure: 4.8.5

Provides instant alert messagesin case

of fraud and
security issues
Frequency Percentage

S0
40

24
33% 42% 21% 4% 0%

Strongly agree Agree (A) Neutral(N) Disagree (D) Strongly

(SA) disagree (SD)

INTERPRETATION:

Thetableshowsapositive perception of fintechapps' instantalertmessages

for
fraud and security concerns,
with 42% of users
strongly agreeing and 33% of
users
agreeing. A higher percentage of neutralresponses(21%) indicatea
significant portion of users
being unsure
orcautiousabouttheapp's capabilities.
The majority of users
seevalue in fintech apps' alert systems for fraud and
security, with asmallpercentage remaining neutralorundecided.

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TABLE: 4.8.6

OPINION ON HELP IN REDUCING THE COMPLAINTS OF THEIR

CUSTOMERS IMMEDIATELY, IN TERMS OF DELIVERY OF

PRODUCTS AND SERVICES

Particulars Frequency Percentage

Strongly agree(SA) 23 19%

Agree (A) 52 43%

Neutral(N) 39 33%

Disagree (D) 5 4%

Strongly disagree (SD) 1%

TOTAL 120 100%

Source:Primary Data

Figure:4.8.6

Help In Reducing The Complaints Of Their Customers

Immediately, In TermsOf Delivery Of ProductsAnd Services
Frequency Percentage

19% 43% 33% 4%

1%

23 52 39 1

Strongly Agree (A) Neutral (N) Disagree (D) Strongly

agree(SA) disagree
(SD)

INTERPRETATION:

The tableshowscustomeropinions onfintech apps' effectivenessin addressing

product andservicedelivery complaints. Themajority (62%) expressed positive

with 19%strongly agreeingand43%agreeingthatfintechapps

sentiment,
reducecomplaints quickly. However, 33%remainedneutral,possibly dueto
lack of personal experience. A smallminority (5%) disagreed, andasmaller
group (1%) strongly disagreed. Improvements areneededto convincethe
neutralanddisagreeing segments.

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TABLE: 4.8.7

OPINION ON PROVIDE NEEDFUL INFORMATION ABOUT THEIR

PRODUCTS, SERVICES, LATEST CASHBACK OFFERSAND

BENEFITS FROM TIME TO TIME

Particulars Frequency Percentage

Strongly agree(SA) 25 21%

Agree (A) 52 43%

Neutral(N) 36 30%

Disagree (D) 6 5%

Strongly disagree (SD) 1%

TOTAL 120 100%

Source:Primary Data

Figure: 4.8.7

Provide Needful Information About Their Products,

Services, Latest CashBack Offers And Benefits From
Time To Time

Percentage Frequency

(SD)
Stronglydisagree
Disagree (D)

Neutral (N)
L30% 36

43%
Agree (A) 52

Strongly agree(SA) 25

INTERPRETATION:

Thetableshowsthat64%of respondents are

positive aboutfintechapps' ability
to provide essentialinformation about products, services, and cash back
incentives.However, 30%remainneutral, suggesting aneedfor communication
improvements. Despite this, only 6%exhibitnegative sentiment, indicating that
fintechappsare
successfulin delivering valuableupdates andoffersto their user
base.

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TABLE: 4.8.8

OPINION ON MORE TRUSTED BY MODERN YOUNG

GENERATION

Particulars Frequency Percentage

Strongly agree(SA) 27 22%

Agree (A) 49 41%

Neutral(N) 38 32%

Disagree (D) 5 4%

Strongly disagree (SD) 1 1%

TOTAL 120 100%

Source:Primary Data

Figure: 4.8.8
More Trusted By ModernYoung Generation
Frequency Percentage

1 1%
STRONGLY DISA GREE (SD)

DISA GREE (D) 5 4%

NEUTRAL (N) 38 32%

49 41%
AGREE (A)

STRONGLY AGREE (SA)

27 22%

INTERPRETATION:

The table showsthat the modern young generation has a favourable view of
fintechapps,with 41%agreeing and22%strongly agreeing with theirservices.
This suggests thatfintechappshavegained trustandappeal amongtheyouth.
However, 32%remainsneutral, possibly indicating uncertainty orreservation.
trustandacceptance amongthe modern
Overall, fintechappshaveestablished

younggeneration,withsome
remaining uncertain
about
theirservices.

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TABLE: 4.8.9

OPINION ON PROVIDE FASTEST SERVICES OF TRANSFER OF

FUNDS AND REMITTANCE OF PAYMENTS SERVICES

Particulars Frequency Percentage

Strongly agree(SA) 23 19%

Agree (A) 49 41%

Neutral(N) 36 30%

Disagree (D) 7%

Strongly disagree (SD) 3 3%

TOTAL 120 100%

Source:Primary Data

Figure: 4.8.9
Provide fastest services of Transfer of funds and
remittanceof payments services
Frequency Percentage

49

36

23

41% 3
19% 30% 7% 3%

Strongly Agree (A) Neutral (N) Disagree (D) Strongly

agree(SA) disagree (SD)

INTERPRETATION:

The table showsthat 60% of respondents believefintech appsareefficient in

facilitating A
fund transfersandpayment remittance. significant percentage
(19% strongly agree,41%agree) showapositive perception of theseservices.
a
However, 30%maintain neutralstance,suggesting potential improvements or
further education.A minority (7% disagree and 3% strongly disagree) holds
dissenting opinions, indicating that the majority of respondents recognize
fintechappsaseffectivetoolsfor expeditious financialtransactions.

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TABLE: 4.8.10

OPINION ON MEET CASH REQUIREMENT OF THEIR CUSTOMER

EVEN AFTER THE BANK IS CLOSED

Particulars Frequency Percentage

Strongly agree(SA) 33 28%

Agree (A) 54 45%

Neutral(N) 28 23%

Disagree (D) 4 3%

Strongly disagree (SD) 1%

TOTAL 120 100%

Source:Primary Data

Figure: 4.8.10
Meet cashrequirement of their customereven
after the
bank is closed

Percentage Frequency

1%
Strongly disagree (SD)

39%
Disagree (D) 4

239%
Neutral(N) 28

45%
Agree (A) 54

28%
Strongly agree(SA) 33

INTERPRETATION:

Thedatashowsthat45%of respondents areagreeand28%of Respondents are

stronglyagreefor fintechappscan effectively fulfil customers'
cashneeds
outside
traditional
banking hours,indicating high confidence in theirability to
provide essentialfinancialservices.However, 23%of respondents expressed a
stance,suggestinguncertainty orlackof familiarity with thetopic. Only
neutral
4%expressed disagreement.

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TABLE: 4.8.11
OPINION ON ABLE TO REACH THE REMOTE, RURAL AREAS AND
UNBANKED AREA TO MAKE THEM ACCESSIBLE FOR BANKING
FACILITIES
Particulars Frequency Percentage

Strongly agree(SA) 23 19%

Agree (A) 61 51%

Neutral(N) 28 23%

Disagree (D) 3.5%

Strongly disagree (SD) 4 3.5%

TOTAL 120 100%

Source:Primary Data

Figure: 4.8.11

Able to reach the remote, rural areasand

unbanked area to make them accessible for
banking facilities
Frequency Percentage

19% 51% 23% 3.50% 3.50%

23 61 28 4 4

STRONGLY AGREE (A) NEUTRAL (N) DISAGREE (D) STRONGLY

AGREE (SA) DISAGREE
(SD)

INTERPRETATION:

Thetableshowsa51%of Respondents are

agreeand19%of respondents are
strongly agreeonthepotential of fintechappsto bridge accessibility gapsin
remote, rural, and unbankedareas.
A notable23% remainsneutral, but the
suggests anoverallinclinationtowardstheidea.A
overallpositive sentiment
low 7% disagreement indicatesaminority holdsreservationsaboutfintech apps'
in reaching underserved
effectiveness regions.

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TABLE: 4.8.12

OPINION ON HELPS FOR FINANCIAL INCLUSION IN THE

ECONOMY BY OPENING BRANCHES. WHERE TRADITIONAL

BANKS ARE NOT ABLE TO 0PEN THEIR BRANCHES

Particulars Frequency Percentage

Strongly agree(SA) 21 17%

Agree (A) 41 34%

Neutral(N) 50 42%

Disagree (D) 6 5%

Strongly disagree (SD) 2%

TOTAL 120 100%

Source:Primary Data

Figure: 4.8.12
Helpsfor financial inclusionin the economyby opening branches,
wheretraditional banksarenot ableto opentheir branches

DFrequency DPercentage

50

41

17% 34% 42% 5% 2%

Strongly Agree (A) Neutral(N) Disagree (D) Strongly

agree(SA) disagree (SD)

INTERPRETATION:

The table showsa mixed view onfintech apps' role in promoting financial
inclusion.34%ofrespondents areagreeand17%of respondents acknowledge
theirpotential to reachunderservedareas,
while42%remainneutral.A minority
holdsreservations
aboutfintechapps' impact onexpanding banking services,

with 7%holding reservations.

Overall, asignificant portion acknowledges the
potential benefits, while asubstantialpercentage remainsundecidedorcautious
aboutthe extent
of financialinclusionfacilitatedby fintechapps.

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TABLE:4.8.13
OPINIONON PROVIDEMUTUAL FUNDAND INSURANCE
FACILITY AS
MEDIATOR OF OTHER BANKS

Particulars Frequency Percentage

Strongly agree
(SA) 12 10%

Agree (A) 46 38%

Neutral(N) 53 44%

Disagree (D) 7 6%

Strongly disagree (SD) 2 2%

TOTAL 120 100%

Source:Primary Data

Figure: 4.8.13
Providemutual fund and insurancefacility asmediator
of other banks

Frequency -Percentage

53

46

12
2

10% 38% 44% 6%o 2%

Strongly agree Agree (A) NeutralN) Disagree (D) Strongly disagree
(SA) (SD)

INTERPRETATION:

The tableshowsvarying opinions onfintech appsasintermediariesfor mutual

fund and insuranceservices.48% (38% agreeand 10%strongly agree) of
respondents recognize thepotential, while44%remainneutral, possibly dueto
uncertainty orlackof familiarity. Dissenting voices, totalling 8%, question the
suitability of fintechappsasmediators.

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TABLE: 4.8.14

OPINION ON TRUSTWORTHY IN TERMSOF SECURITY,

WITHDRAWAL, AVAILABILITY ETC
Particulars Frequency Percentage

Strongly agree(SA) 20 17%

Agree (A) 48 40%

Neutral (N) 45 37%

Disagree (D) 6 5%

Strongly disagree (SD) 1 1%

TOTAL 120 100%

Source:Primary Data

Figure: 4.8.14
Trust worthy in termsof security, withdrawal,
availability etc

Percentage Frequency

1%
Strongly disagree (SD) 1

5%
Disagree (D) 6

37%
Neutral N) 45

40%
Agree (A) 48

17%
Strongly agree(SA) 20

INTERPRETATION:
in fintechapps,with 57%
Thetableshowsmixedperceptions of trustworthiness
(40% agreeand17%strongly agree) of users
confidentin security, 40%neutral,
andasmallpercentage holding A
reservation. significant 37%remainneutral,
suggesting aneedfor more
informationor
experiences. A smallpercentage hold

reservation
aboutsecurity andreliability.

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TABLE: 4.8.15

OPINION ON LOSS OF PHONE MAY LEAD TO LOSE OF MONEY FROM

THE ACCOUNT. HACKING IS VERY EASY

Particulars Frequency Percentage

Strongly agree(SA) 13 11%

Agree (A) 34 28%

Neutral(N) 18 15%

Disagree (D) 37 31%

Strongly disagree (SD) 18 15%

TOTAL 120 100%

Source:Primary Data

Figure: 4.8.15
Loss of phone may lead to loseof money from the
account.
hacking is very easy

Frequency Percentage

37
34

18 18

13

11% 28% 15% 31% 15%

Strongly agree Agree (A) Neutral(N) Disagree (D) Strongly

(SA) disagree (SD)

INTERPRETATION:

The table showsa diverseopinion onthe potential risks of fintech apps,

including phone lossandhacking. A majority of users'expressconcern
about
theserisks, while 46% hold a more
optimistic view, possibly indicating
confidencein the app's security measures.
The remaining 15% remain neutral,
suggesting alackof convictionoraneedfor more
information.

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TABLE:4.8.16
OPINION ON POOR AVAILABILITY OF INTERNET SERVICES

Particulars Frequency Percentage

Strongly agree(SA) 20 17%

Agree (A) 56 47%

Neutral (N) 35 29%

Disagree (D) 7%

Strongly disagree (SD) 0 0%

TOTAL 120 100%

Source:Primary Data

Figure: 4.8.16
Poor availability of internet services
Percentage Frequency

0%
Strongly disagree (SD)

7%
Disagree (D)

29%
Neutral(N) 35

47%
Agree (A) 56

17%
Strongly agree(SA) 20

INTERPRETATION:

Thetableshowsthat64%(47% Agree and17%Strongly Agree) of respondents

acknowledge the potential impact onfintechapp
of poor internetavailability
performance, indicating users' awarenessof the app's reliance on stable
connections.29% remainneutral, suggesting a lack of direct experience or
uncertainty aboutits effects.A minority(7%) disagrees.

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 EXPLORING USER SWITCHING INTENTION OF MOBILE PAYMENT
APPLICATIONS STUDY

TABLE:4.8.17
OPINION ON LACK OFAWARENESS ABOUT THE PRODUCTS AND
SERVICES

Particulars Frequency Percentage

Strongly agree(SA) 15 12%

Agree (A) 42 35%

Neutral(N) 48 40%

Disagree (D) 14 12%

Strongly disagree (SD) 1 1%

TOTAL 120 100%

Source:Primary Data

Figure: 4.8.17
Lack of awareness
about the products and services

-Frequency -Percentage

48

15

12% 35% 40% 12% 1%

Strongly agree Agree (A) Neutral (N) Disagree (D) Strongly disagree
(SA) (SD)

INTERPRETATION:

Thetableshowsasignificant awareness
challenge for fintechappsregarding
A majority of respondents (47%)
theirproducts andservices. acknowledge this
issue, suggesting potential usersmaylackawareness.A neutralcategory (40%)
A minority (13%) confidencein the awareness
expresses levels, while 12%

disagreeand1%stronglydisagree.

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 EXPLORING USER SWITCHING INTENTION OF MOBILE PAYMENT
APPLICATIONS STUDY

TABLE: 4.8.18

OPINION ON CASHBACK AMOUNT NOT DISPLAYED DURING

TRANSACTIONS
Particulars Frequency Percentage
Strongly agree(SA) |4 12%

Agree (A) 34 28%

Neutral (N) 60 50%

Disagree (D) 11 9%

Strongly disagree (SD) 1 1%

TOTAL 120 100%

Source:Primary Data

Figure: 4.8.18

Cashbackamountnot displayed during transactions

Frequency Percentage

60

34

14 12% 28% 50% 9% 1%

11

Strongly Agree (A) Neutral (N) Disagree Strongly

agree(SA) (D) disagree
(SD)

INTERPRETATION:

The tableshowsa significant concernamongusers regarding the display of

cashbackamountsduring onfintech apps.40% of respondents
transactions
report amounts
issueswith cashback not being clearly displayed, potentially
or
leadingtoconfusion dissatisfaction.
A high percentageofneutral
respondents
(50%) suggest thathalf of the users
mayhaveunclearopinions, A smaller
percentage (10) expressdisagreement, with 9% disagreeing and 1% strongly
disagreeing.

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 EXPLORING USER SWITCHING INTENTION OF MOBILE PAYMENT
APPLICATIONS STUDY

TABLE:4.8.19
OPINION ON NO PROVISION OF CREDIT CARDS AS WELL AS A
LOAN FACILITY

Particulars Frequency Percentage

Strongly agree(SA) 8%

Agree (A) 30 25%

Neutral(N) 70 58%

Disagree (D) 11 9%

Strongly disagree (SD) 0%

TOTAL 120 100%

Source:Primary Data

Figure: 4.8.19
No provision of credit cards aswell asaloan facility
Percentage Frequency

Strongly disagree(SD) 0%
0

9%
Disagree (D) 11

58%
Neutral (N) 70

259%
Agree (A) 30

Lg%
Strongly agree(SA)

INTERPRETATION:

The tableshowsthat 83% of respondents believefintech appslack credit cards

A significant 58%remainneutral,suggestingthatalarge
andloanfacilities.
portion maynothavestrong opinions dueto limitedexposure.
A combined
33%
of creditcardsandloans, while aminor
expressagreement with the absence
fractiondisagree.

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 EXPLORING USER SWITCHING INTENTION OF MOBILE PAYMENT
APPLICATIONS STUDY

TABLE: 4.8.20

OPINION ON THESE BANKS ARE NOT A REPLACEMENT OF

TRADITIONAL BANKS

Particulars Frequency Percentage

Strongly agree(SA) 13 10.8%

Agree(A) 27 22.5%

Neutral(N) 60 50%

Disagree (D) 12 10%

Strongly disagree (SD) 8 6.7%

TOTAL 120 100%

Source:Primary Data

Figure: 4.8.20
Thesebanksarenot areplacement of traditional banks

Frequency Percentage

60

27

13 12

10.8% 22.5% 50% 10% 6.7%

Strongly Agree (A) Neutral (N) Disagree (D) Strongly

agree(SA) disagree (SD)

INTERPRETATION:

The data showsthat 73.3%of respondents agreethat newbanksarenot a

completereplacementfortraditional
banks,despiteoffering innovative
services.
Howeve, 16.7%disagree, suggesting aminority believethesebankscould
replace traditionalbanks.The majority, 50%, remainneutral, suggesting
ongoing developnments and debatesin the financial industry. This suggests a
mixedsentiment
amongrespondents.

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 EXPLORING USER SWITCHING INTENTION OF MOBILE PAYMENT
APPLICATIONS STUDY

TABLE: 4.8.21

OPINION ON SERVE AS BUSINESS CORRESPONDENTS (BCS) FOR

SELLING PRODUCTS AND SERVICES OF COMMERCIAL
/TRADITIONAL BANKS

Particulars Frequency Percentage

Strongly agree(SA) 9 7.5%

Agree (A) 37 30.8%

Neutral(N) 62 51.7%

Disagree (D) 9 7.5%

Strongly disagree (SD) 3 2.5%

TOTAL 120 100%

Source:Primary Data

Figure: 4.8.21
Serve asbusinesscorrespondents (bcs) for selling products and
services of commercial /traditional banks

-Frequency Percentage

62

37

9 3

• 7.50%
Strongly agree
•
Agree (A)
30.80% •
Neutral
51.70%
(N)
•
7.50%
Disagree(D)
2.50%
Strongly disagree
(SA) (SD)

INTERPRETATION:

The surveyrevealsconflicting opinions aboutBusinessCorrespondents (BCs)

whopromote banking services.

Themajority (82.5%) agree,while51.7%are
andmaybeunsure.
neutral or
Despite thepromise of BCs, furtherinformation
explanationmayberequiredto persuadesceptics.

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 CHAPTER-05

FINDINGS,
SUGGESTIONS AND

CONCLUSION
 EXPLORING USER SWITCHING INTENTION OF MOBILE PAYMENT
APPLICATIONS A STUDY

AND CONCLUSION
FINDINGS, SUGGESTIONS
5.1 FINDINGS

1. Therespondentsare
92%aware
oftherecharge services
provided by Fintech
apps.

2. The respondents are63% aware

and 37% unaware
of the ticket booking
serviceprovided by Fintechapps.
3. The respondents are61% aware
and 39% unaware
of the commercialbills
(shopping, etc.) of services
provided by Fintechapps.
4. The respondents are89% aware
and 11%unaware
of the houseutility bills
(water bill, electricity bill payments, grocerybills in local supermarkets,
prepaidmobile
bill, DTHrecharge,recreation
expenditure,etc.) of services
provided by Fintech
apps.
5. The respondents are86% aware
of hotel booking servicesprovided by

Fintech
apps.
6. Therespondents are96%aware
of thetransferof fundsprovided by fintech
apps.

7. The respondents are63% aware

and 37% unaware
of the Pay for Fuel at
PetrolPumpsservice
provided by Fintech
apps.
8. The respondents are63% aware
and 38% unaware
of the Pay for LPG
cylinder of serviceprovided by Fintechapps.
9. 44%ofrespondentsare 27%are
rating average, rating poorquality, and23%
arerating high quality abouttheticketbooking serviceprovided by Fintech
apps.

10.50% ofrespondents are

rating high quality, 33%are and11%
rating average,

are
rating extremelyhigh quality about
thehouse
utility bills(water bill,
electricity bill payments, grocerybills in localsupermarkets, prepaid mobile
bill, DTHrecharge, recreation
expenditure, etc.) service
provided by Fintech
apps.

11.For the opinion aboutbeing more convenientthanbranchbanks, 61%of

respondents strongly agree,31%agree,and7% are neutral.
12.56%of respondents agree,30%strongly agree,and13%areneutralabout
serving customers 24 hoursaday, sevendays aweek.

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 EXPLORING USER SWITCHING INTENTION OF MOBILE PAYMENT
APPLICATIONS STUDY

13.51% of respondents agree,23% strongly agree,and 3.5% disagree or

being abletoreachremote,
strongly disagreewiththeiropinion about rural
areas
andunbankedareas
to makethem accessiblefor banking facilities.
14.Fortheopinion thatlosing aphone mayresultin thelossof moneyfroman
account, 48.31% of respondents disagree, 28% agree, 15% strongly
disagree, and11%strongly agree.Hacking is veryeasy.
15.47%of respondents agree,29%are
neutral, 17%strongly agree,and7%
strongly disagree abouttheavailability of internetservices.
16.40%of respondents areneutral, 35%agree,and12%strongly agreeand
disagree aboutalack of awareness
aboutproducts and services.
17.Fortheiropinion oncashbackamountsnotdisplayed (no code, apply code,
orchoicecode) during transactions, 51.5%of respondents areneutral, 28%
areagreeing, 12%arestrongly agreeing, and9%aredisagreeing.
18.58%of respondents areneutral, 25%agree,9% disagree, and8% strongly
disagree aboutthe absenceof creditcardsandaloan facility.
19.For theopinion thatthesebanksare
not areplacement for traditionalbanks,
50%of respondents areneutral, 22.5%agree,12%strongly agree,and10%
disagree.
20.51.7%of respondents are
neutral, 30.8%agree,and7.5%strongly agreeand
disagree asbusinesscorrespondents (BCs)
with theiropinion aboutserving
for selling products andservicesof commercialortraditionalbanks.

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 EXPLORING USER SWITCHING INTENTION OF MOBILE PAYMENT
APPLICATIONS A STUDY

5.2 SUGGESTIONS

1. 63% of potential users

have noawareness
of a ticket booking service,

requiring a comprehensive awareness

strategy involving social media,
online advertisements, and collaborationswith eventsand influencers.
2. Implement amulti-channelawareness
campaign using socialmedia, blog
posts, and local eventsto educate54% aboutinsurancepremium service
benefits, analyzing feedbackfor resonance.
areas.
for financialinclusionin underserved
3. 42%support opening branches
To achievethis, surveys,community engagement, and collaborationwith
mobilebanking platforms.

4. Poorinternetserviceavailability is asignificant concern,with 47% and 17%

agreeing that collaborationwith local ISPs, government agencies, and
innovativetechnologies can
improve connectivity.
5. The lack of awareness, a
with 40% neutraland35% agreeing, necessitates
targeted strategy, including marketanalysis, contentcreation, socialmedia,
workshops, andpartnerships, with regular monitoring andadaptation.
6. 50%are
neutraland28%agreeoncashback
amountsnot being displayed;

enhancetransparency, provide real-timevisibility, gather feedback, and

improve theuser
experience.
7. 58% areneutral and 25% agreeonthe lack of credit cardsand loan facilities.
Conduct a survey or gather customerfeedbackto understandneedsand
preferences. Partnerwith financialinstitutionsfor tailoredoptions.

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 EXPLORING USER SWITCHING INTENTION OF MOBILE PAYMENT
APPLICATIONS A STUDY

5.3 CONCLUSION

Thestudy analysed user

switching intentionsin mobilepayment applications,
finding that user
satisfaction, ease
of use,perceived security concerns,
diverse
payment options, andcustomer
support arekey factorsinfluencing switching
intentions. areeffective
In-app rewards, cashbacks,andloyalty programs
strategies to reduceswitching intentions.Userinterfacedesign andintuitive
navigation arelinked to prolonged app engagement and reducedswitching
likelihood. andreputation of thepayment provider are
Thetrustworthiness
essential determinantsin userdecision-making. Social influence and peer
also influence users'intentionsto switch orstay. Continuous
recommendations
innovation, featureupdates, andresponsiveness to user
feedbackare
critical for
sustaining userinterest.Overall, a holistic approach combining security
enhancements, convenience, rewards, and user-centered
design canmitigate
switching intentionsand fosterlasting userengagement in mobilepayment
applications.

5.4SCOPEFOR FURTHERRESEARCH
Further researchin online payment apps and fintech in India could include
geographical expansion, usersegmentation, longitudinal study, comparative
analysis, security andprivacy concerns,
policy and regulatory analysis, user
experience anddesign, payment appecosystem, digital literacy andeducation,
cross-culturalstudies, economicimpact, andtechnological advancements.
The
study should focus onHassanDistrict in Karnataka, examining regional

variationsin usageandchallenges, analysing user

segments, andexamining the
broader ecosystemof payment apps. It shouldalsoexamine theroleof digital
literacy andeducationprogrammes in improving user experience,cross-cultural
studies,andtheeconomic impact of incrcasedadoption of online
payment apps.
These areas
canhelp shape policies and strategies for enhancing user
satisfactionandfostering financialinclusion.

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WEBSITES
Reserve
BankofIndia(rbi.org.in)
Https://Www.Uschamber.Com/CoRun/Business-Financing/What-Is -Fintech
> http://hdl.handle.net/10603/421080
 QUESTIONNAIRE

-
DearSir/Madam, I amGaneshS B Pursuing M comat Sri HD Devegowda

Govt First grade college. Paduvalahippe Holenarasipura taluk and hassan

district.Iam inthearea
doing research ofFintech
apps.
Thetopic is"Exploring
user
switching intentionof mobilepayment application A Study'. In this
connection I would be thankful, you could respond to the following

questionnaire. Your opinion and perception areimportant and will be kept

confidentialandusedfor purposeof academic
research
only, withoutrevealing
theindividualidentity of therespondent.
Section -A

Thissectiondealswith demographic andbackground informationof respondent. Fill

in the blanksortick the appropriate response.All the information will be strictly used
for research
purpose
1. Nameof the respondent :
2. EmailID (Optional)
3. NameCity/Taluk
D Hassan
O Holenarasipura
D Arakalgudu
4. Gender OMale Female
O
5. Marital Status O Married D Unmarried

6. Age (in Years)

Below20
O
O20-30
O 30

nabove40
7. Education : DUp toSSLC o uptoPUCoGraduateoPostGraduate
oprofessional
8. Occupation
oBusinessmanoGovernnment oPrivateoAgriculturist
oStudento SelfEmployedo HomeMaker
DOthers
(Specify)
9. Income(in RS. Permonth)
O Below 10000
O 10000-50000
D 50000-100000

O Above 100000

10. You Have Bank Account in:

O PublicSectorBank
D Private Sector Bank

0 ForeignBank
O Others
11.MobilePayment Applications thatyouuse
O Phonepe
O Paytm

0 Google Pay
O AmazonPay
D BHIM
0 Bharatpe
OYourBank's
Application
D Other:

12.MobilePayment Application thatyouuse

frequently

O Phonepe
0 Paytm
O Google Pay
D AmazonPay
O BHIM
O Bharatpe
DYourBank's
Application
D Other:
13.Howlong youare
using theaboveMobilePayment Application

O Lessthan 1year
D 1-3years
O 3-6 years
 D More than6 years
14.Average monthfrequency of using aboveMobilePayment Application
O 1-3times
O 4-7 times
O 8-16 times
O Almosteveryday
15.Are you aware
aboutthe following products and servicesprovided by
Fintech
apps?

Tick (/) Yesor(X)No

Products/
Services Yes No
Recharge
Ticketbooking
Bills(Shopping etc.)
Commercial
HouseUtility bills (Water bill, Electricity bill payments,
Grocery bills in localsupermarkets, Prepaid mobilebill, DTH
recharge, recreation expenditure etc.)
Hotel
booking
Insurancepremium
Transfer of funds
payfor fuel at petrol pumps
Banking relatedtransaction
Pay for LPG cylinder

17.Kindly ratethefollowing products andservices

provided by FintechApps?
Products / Services Extrem Poor Average| High Extremely
ely poorquality quality high
quality quality
Recharge
Ticketbooking
Commercial bills
(shoppingetc.)
HouseUtility bills (Water
bill, Electricity bill
payments, Grocery billsin
local supermarkets,
Prepaid mobilebill, DTH
recharge, recreation
expenditureetc.
)
Hotelbooking
Insurancepremium
Transfer of funds

payfor fuelat petrol pumps

 Banking relatedtransaction

Pay for LPGcylinder

18.Kindly give youropinion regarding Fintechappsservices.

Statements Strongly AgreeNeutralDisagree Strongly
agree (A) (N) (D) disagree
(SA) (SD)

1. More convenient than

Branch Banks
2. Encourages Digital

Payments

3. Help in controlling black

money
4. Serve their customers 24x7

days aweek
5. Provides instant alert
in case
messages of fraud and

security issues.
6. Help in reducing the
complaints of theircustomers
immediately, in terms of

delivery of products and

services

7. Provide needful
information about their

products, services, latestcash

back offers and benefits from

time to time.
8. More trusted by Modern
Young Generation
9. Provide fastest services of

Transfer of funds and

remittance of payments
services

10.Meetcashrequirement of
their customer evenafter the

bank is closed.

11.Able to reach the remote,

rural areas
and unbanked area

to make them accessible for

banking facilities.
12. Helps for financial

inclusionin the economyby

opening branches, where
traditional banks arenot able

to opentheirbranches.
13. Provide Mutual Fund and

Insurancefacility asmediator
of other banks.

14. Trust worthy in termsof

security. withdrawal.,
availability etc.
15.Lossof phone mayleadto
lose of money from the
account.Hacking is very
easy.
16. Poor availability of
internet services

17. Lack of awareness

about

the products and services.

18. Cashback amount not

displayed (No code/ apply

code/ choosecode) during
transactions
19. No provision of credit
cardsaswell asaloan facility.
20. These banks are not a
replacement of traditional
banks

21. Serve as Business

Correspondents(BCs) for
selling productsandservices
of commercial /traditional

banks