A Study of Customer Perception toward Digital Banking Payments

Abstract

Digital innovation is drastically reforming the provision of payment services. Information Technology has modernised the various aspects of our lives, and the shift from traditional to digital banking has been gradual and remains ongoing and is constituted by differing degrees of banking service digitization. With the advent of digitization, paperless banking has become a reality for everyone. The advancement of technology has been a significant influence on the growth of the banking business. Previously, banking transactions took a long time. Customers were expected to have physical records of their banking transactions or histories. It is essential to first understand the fundamentals of banking to fully comprehend how it will change in the digital era. The paper examines the adaptation and perception of the digital payment system provided by the bank. The study’s objectives are to investigate how customers view utilising digital banking to make payments, how they pay for merchandise, how they experience problems while conducting online transactions, and how satisfied they are with the digital banking services they receive. The study is descriptive, with a sample size of 500. The instrument for data collection was a questionnaire, and ANOVA was used for hypothesis testing.

Keywords: Fintech, Retail Banking, Digital Payments

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