Customers Adoption and Satisfaction of E-Wallet and UPI Payment System: Evidence from India and Bangladesh

Abstract

This article explores the impact of selected factors in adopting online payment platforms (AOPP) in India and Bangladesh by applying the extended Technology Acceptance Model (TAM). The factors considered are perceived trust (PT), perceived ease of use (PEU) and perceived usefulness (PU). The impacts of these factors are studied on the adoption and satisfaction of E-Wallet and UPI Payment System in India and Bangladesh. Data was collected from a sample of 199 individuals from India and Bangladesh who uses E-Wallet systems for online financial transactions. The authors have utilised the structural equation modelling (SEM) technique for testing the hypothesised relationships. It was found that three factors: PT, PEU and PU, have a significant impact on the AOPP, and the AOPP, in turn, has a positive impact on customer satisfaction (CS). It is a study of its own kind which identifies the factors impacting the AOPP using the extended TAM model and to establish a relationship between the AOPP and CS in the context of India and Bangladesh. This type of exploratory study can be helpful to the service providers for the development of strategies for the betterment of E-Wallet and UPI services.

Keywords: Online Payment System, UPI and E-Wallet Systems, Users’ Intention, Users’ Perception, Technology, Extended Technology Acceptance Model, SEM

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