Project E-Payment

CUSTOMER SATISFACTION ON ELECTRONIC PAYMENT
CHAPTER 1
INTRODUCTION
SWAMY SASWATHIKANANDA COLLEGE, POOTHOTTA 1

INTRODUCTION
The electronic payment, it is also called as online payment

method. It facilitates the customer using this platform in means of electronic and
internet to perform several transactions such as customers can check their bank
balance, settle bills of electricity, water, gas cylinder, shops, banking also such
as bank to bank transactions. Nowadays electronic payment system is highly
useful in the presence of corona virus, so the convenience and customer
satisfaction of electronic payment system in present situation is checked here by
conducting of a project on the base of some regions in Ernakulam district. Digital
revolution has paved the path for E-payment system. This revolution has
emerged with e-banking, e-registration, e-shopping, e-payment, e-learning, e-
library, etc.
E-payment system is a payment system in which monetary value is digitally

transmitted between two entities. An entity can be a bank, business, government
or a consumer. In general context enabling net based technological innovations
and e-communication networks can be termed as e-payment. In order to satisfy
our needs with an ease of time, comfort and convenience the users have to be
tech savvy. Today the situation is transformed from one factor authorisation to
two factor authorisations in order to ensure safety and security. The RBI report
have stated their vision statement as to build best payment and settlement system
for a digital India through approachable directives, healthy infrastructure,
efficient control and consumer attentiveness.
The beginning of e-payment systems along with internet development, pioneer

online payment services started to operate in the first half of the 90s. In 1994
Stanford Federal Credit Union was established – the first financial institution
which offered online internet banking services to all of its members. E-payment

systems have become increasingly popular due to the widespread use of internet-
based shopping and banking. An e-payment system is a system of making
payments with the help of the Internet or any other device. There are many types,
for example debit card, credit card, smart card, net banking, UPI, e-cash, e-check
etc. From these types, customers rely heavily on UPI services, so this study
focuses more on UPI as the main e-payment system.
Here the study conducted on the topic of customer satisfaction on electronic

payment for finding the present life impact of e- payment, factors which attracts
the customers to adopt it, comparison of various e- payment service providers to
identify the most satisfied and efficient service providers, the future prospect of
e- payment, problems faced by customers while using e- payment system.
So due to the covid19 pandemic situation, the relevant presence of e – payment

we could see. But still we not know detailed information about satisfaction of
the users of this system. For more clarity and understandability here, we have
conducted this study.

STATEMENT OF THE PROBLEM
Nowadays, E-payment system have been increasingly spread and have been
established around the globe, in both developed and developing countries. Through
the various types of E-payments the number of customers are increasing day by
day. So, it is necessary to check the satisfaction level of various E-payment services
with its factor wise classification, especially privacy & security. The e-payment
system was introduced as part of social advancement and convenience to provide
relief to the people for cashless transactions. It is mainly aimed at those who want
to make money transactions conveniently, easily and without having to carry cash
on hand. This study is being conducted in order to analyse the impact of E-payment
system among the customers by knowing their satisfactory level with special
reference to Ernakulam city.
OBJECTIVES OF THE STUDY
• To study the increasing effect of electronic payment system in the present life.
• To compare and analyse the customer satisfaction level in electronic payment

among various service providers.
• To trace out the problems faced by customers, while using electronic payment
system.
• To know the future prospects of electronic payment system.
SIGNIFICANCE OF THE STUDY
Electronic payment has become an important part of people's lives today because
of very busy life, so today people rely on e-payment in any situation, people do not
always have time to go to the bank for every need, so e-payment helps a lot in
today’s busy society. This is really an advantage for people, because- now e-
payment service is applicable everywhere, whether you go to any business
organization, shop or anywhere. It is also possible for people to transfer funds from
anywhere anytime. This is a really convenient one for people. Although this
reduces time and travel costs and makes money transactions easier, it can have some
drawbacks as well as anything, and this study is currently being conducted to find
out all of them as well as the customer satisfaction of e-payment based on their daily
use and the factors that make it stand out. By conducting this study, e-payment
service providers will now be able to identify how people are perceiving the e-
payment service, as well as the problems they face when using it, and how to change
these problems in a better way in the future. We hope this study will help them well.

SCOPE OF THE STUDY
This study helps to identify, effects and impacts of E-payments system at the present
situation. It aims to study about the customer satisfaction of E-payment system and
its services especially during the Covid pandemic situation. We can reveal the
problems of E-payment while making transactions, we can understand the major
factors which attract the customers to use the E-payment through this study. The
study attempts to describe the future prospects of E-payment system. It focuses
Only on common people who enjoy the benefit of the E-payment in Ernakulam city.
RESEARCH METHODOLOGY
Research methodology is the path through which researchers need to conduct their
research. It shows the path through which their researches formulate their problems
and objectives and present their result from the data obtained during the study
period.
1.Area of study: Ernakulam District
2.Sampling Design: Simple random sampling
3.Sampling Size: 60 customers respondents
4.Data collection: Primary data and Secondary data
5.Tools for analysis: For analysis of data simple percentage method and statistical
diagram chart are applied. Tables and diagram have been used for the presentation.
LIMITATIONS OF STUDY
The study has several limitations. Some of the limitations while conducting this study
are;
• Data collection is conducted with limited customers.
• Customer’s opinion may change.
• It was difficult to have necessary information within a limited period.
• There is a possibility of occurring sampling errors.

CHAPTERISATION
CHAPTER-1 INTRODUCTION
The first is the introduction chapter. It includes a brief introduction to the topic,
statement of the study, objective of the study, scope of the study, research and
methodology and limitation of the study
CHAPTER-2 REVIEW OF LITERATURE
This chapter contains the survey available literature pertaining of the study.
CHAPTER-3 THEORETICAL FRAMEWORK
This chapter includes Features, types, advantages and limitations of electronic

payment
CHAPTER-4 DATA ANALYSIS AND INTERPRETATION

The third chapter includes an analysis of the primary data collected by using
various statistical tools and techniques. It includes analysis of the respondents on
various factors like their level of satisfaction their benefits and their reaction.
CHAPTER-5 FINDINGS, SUGGESTIONS AND CONCLUSION
It includes findings emerged from the study based on analysis of the primary data
collected & It is a brief and short summary about the study.

CHAPTER 2
REVIEW OF LITERATURE

REVIEW OF LITERATURE
2.1.1. Doan (2014) he conducted a study to understand consumer adoption on

mobile wallets in Finland area. This research was designed in a quantitative method
using questionnaire which was sent to potential respondents in Finland. The study
measures the market condition of mobile wallets users. The study findings reveal
that the usage of mobile wallet is only in the initial stage and respondents are
showing positive attitudes towards usage of mobile wallets. Research concluded
that the trust factor reveals the positive or negative impact on adoption of user,
depending on the user satisfaction and user’s situation.
2.1.2 Govender & Sihlali (2014) they explored the factors determine the adoption
of mobile banking (m-banking) services among students who are more technically
knowledgeable. The questionnaire is prepared based on the qualitative approach.
Based on the extension of the Technology Acceptance Model, the theoretical
framework is developed to investigate the factors that determine student’s
acceptance of mobile banking. The constructs of TAM for mobile adoption such as
Perceived Ease of Use, Perceived usefulness, Perceived Value, Trust Intention to
Use, and Usage Behaviour were used. The statistical tool multiple regression
analysis was used to examine the influence of independent variables on the
dependent variable of intention to use m-banking. The independent variables trust,
perceived value, perceived ease of use and social influence may account for
42percent on the influence of dependent variable.
2.1.3. Cabanillas et.al., (2015) they have developed a model to examine user’s
intention to use mobile payment based on TAM and MPTAM (Mobile Payments
Technology Acceptance Model). The study was investigated the moderator effect
of the user’s age between the subjective rules and the facility of use. The survey has
been conducted among the 2012 national panel of internet user (physical & virtual).
The analysis of data shows that an internet user’s behaviour is influenced by their
intention to use new tools. The study findings show that most of the younger mobile
payment users are satisfied and accepted the mobile technology tools when
compared to older mobile users. This study has indicated that older consumers are
the stronger relationship between facility to use and subjective rules. So, the mobile
technology provider should give more attention to older consumers to create
knowledge about usable of new tools.

2.1.4 Meuthia (2015) the study has been investigated that empirically the
experiences of users’ satisfaction on e-money adoption in Indonesia. In this study
the trust was considered as an important factor for e-money adopt, and at the time
of promotes the system quality and participation. The data was collected from 117
e-money respondents in Indonesia. The result shows that users’ satisfaction is
determined based on system quality and participation of users. The research
proposed that trust factors have high level followed by the others stimulants
variables. The study concluded that trust and distrust were strongly influenced the
level of users’ satisfaction on e-money adoption in Indonesia.
2.1.5 Liu & Tai (2016) they have conducted a study in Vietnam to analyse the
factors influencing the consumer’s intention to use mobile payment services. The
variables considered for the study to determine consumer’s intention to use of
mobile payment services are mobility, mobile payment knowledge, convenience,
compatibility, ease of use, usefulness, risk, trust, and safety. The two variables
namely perceived ease to use and perceived usefulness was extracted from the TAM
model which was deemed as a suitable model to study consumers’ response and
behaviour’s when a new product is introduced. The data has been collected from
604 respondents. The result shows that among the four external variables
compatibility has a strong influence on ease of use and perceived usefulness is
found to be a positive impact on the intention to use m-payment. The study
highlighted that trust and safety have no direct impact on usefulness but it has a
direct impact on the intention to use mobile payment. The study concluded that in
Vietnam young people have greater intention to use mobile payment services when
compared to older people and most of the consumers are not giving much
importance to risk.
2.1.6 Singh & Gupta (2016) They have conducted a study to identify various factors
influence on the adoption of mobile wallet payment among customers They
considered the various variables for the study are Convenience, Trust, Security, and
Adaptability which have an impact on the satisfaction of mobile wallet usage. The
study was conducted in the Kurali city, District of Punjab. Pearson's Correlation
Analysis was to investigate the relationship between the different basic variables of
the study. The study findings show that mobile wallets are considered as the futures
of cash.

2.1.7 Ahuja & Joshi (2018) have studied about the customer perception concerning
Mobile wallets. In this study they examined that the factors exploration technique
is used to classify the factors which influence customer opinion towards Mobile
wallets. The study has been conducted about the different types of mobile wallet in
India. The data is collected from both secondary data and primary data. The survey
was conducted among 139 mobile respondents in the telecommunication industry.

CHAPTER 3
THEORETICAL FRAMEWORK

THEORETICAL FRAMEWORK
INTRODUCTION
An E-payment or Electronic Payment system allows customers to pay for the

services via electronic methods. They are also known as online payment systems.
Normally e-payment is done via debit, credit cards, direct bank deposits, and e-
checks, other alternative e-payment methods like e-wallets, bitcoin,
cryptocurrencies, bank transfers are also gaining popularity. An e-payment system
is a way of making transactions or paying for goods and services through an
electronic medium, without the use of checks or cash. It is also called as electronic
payment system or online payment system. The electronic payment system has
grown increasingly over the last decades due to the growing spread of internet-
based banking and shopping. As the world advances more with technology
development, we can see the rise of electronic payment systems and payment
processing devices. Due to their increase, improvement, and providing ever more
secure online payment transactions, the percentage of cheque and cash transactions
are decreasing.
Features
Security: One of the most important features to consider in a payment gateway is

security. Not only is this important for you, but for your customers as well. When
selecting a payment gateway, you must ensure that the platform provides robust
security and this is something that is addressed if the payment gateway is PCI DSS
Level 1 compliant.
Easy integration: Look for a payment gateway that allows plugins to seamlessly
integrate with your existing platform. With payment integration enabled, you save
on the effort of manually updating your records, which also reduces the scope of
errors. Every time there is a new sale and the payment is done digitally, it will start
reflecting on the tool you are already using.
Detailed reporting: For many retailers, a payment gateway is only a virtual

terminal that captures the transactions done, However, if set up correctly, it can
offer you much more than that. A good payment gateway can offer detailed
reporting and faster reconciliation that can help you make informed business
decisions.

Invoicing options: Having a secure payment gateway with an in-built invoice

capability can be a blessing for any retailer. This helps in streamlining the payment
process and can offer a convenient way of accepting payments.
Multiple payment options: With customers opting for digital payments, your
payment gateway should be able to accept a multitude of payment options such as
debit/credit cards, wallets, and rewards. When a retailer gives its customers the
convenience of paying via their preferred mode of payment, it helps in gaining their
confidence, leading to repeat visits, and a boost in sales.
Fast processing speed: The speed at which the money gets transferred from a
customer's account to a retailer's account is extremely important. A faster
processing speed gives customers a hassle-free user experience.
Types of E-Payment System
E-payments can be done in the following ways,
Internet banking – In this case, the payment is done by digitally transferring the
funds over the internet from one bank account to another. Some popular modes of
net banking are, NEFT, RTGS, IMPS.
Card payments – Card payments are done via cards e.g. credit cards, debit cards,
smart cards, stored valued cards, etc. In this mode, an electronic payment accepting
device initiates the online payment transfer via card.
Credit/ Debit card – An e payment method where the card is required for making
payments through an electronic device.
Smart card – Also known as a chip card, a smart card, a card with a microprocessor
chip is needed to transfer payments.
Stored value card – These types of cards have some amount of money stored
beforehand and are needed to make funds transfer. These are prepaid cards like gift
cards, etc.
Direct debit – Direct debit transfers funds from a customer’s account with the help
of a third party

E-cash – It is a form where the money is stored in the customer’s device which is
used for making transfers.
E-check – This is a digital version of a paper check used to transfer funds within
accounts.
Alternate payment methods – As technology is evolving, e-payment methods kept

evolving with it (are still evolving.) These innovative alternate e-payment methods
became widely popular very quickly thanks to their convenience.
E-wallet – Very popular among customers, an E-wallet is a form of prepaid

account, where customer’s account information like credit/ debit card information
is stored allowing quick, seamless, and smooth flow of the transaction.
Mobile wallet – An evolved form of e-wallet, mobile wallet is extensively used by

lots of customers. It is a virtual wallet, in the form of an app that sits on a mobile
device. Mobile wallet stores card information on a mobile device. The user-friendly
nature of mobile wallets makes them easier to use. It offers a seamless payment
experience making customers less dependent on cash.
QR payments – QR code-enabled payments have become immensely popular. QR

code stands for ‘Quick Response’ code, a code that contains a pixel pattern of
barcodes or squares arranged in a square grid. Each part of the code contains
information. This information can be merchant’s details, transaction details, etc. To
make payments, one has to scan the QR code with a mobile device.
Contactless payments – Contactless payments are becoming popular for quite

some time. These payments are done using RFID and NFC technology. The
customer needs to tap or hover the payment device or a card near the payment
terminal, earning it a name, ‘tap and go’.
UPI payments – NPCI (National Payment Corporation of India) has developed an

instant real-time payment system to facilitate interbank transactions. This payment
system is titled UPI (Unified Payment Interface). Payments via UPI can be made
via an app on a mobile device.

Advantages
1.Instant payment: Electronic payments are much faster than the traditional methods of
payments such as cash or cheques. In the case of online payments, do not have any
constraint of time or location. Can easily make payments at anytime from anywhere across
the globe-payment systems have eliminated the need for going to the banks to make
payments. Customers do not have to waste their time standing in the long lines at banks.
They can easily pay by using an electronic payment app.
2.Higher payment security: Despite its robust features, electronic payments systems have
not become so popular among the merchants. They are still using the same old methods for
accepting payments. Due to which, they are missing out the opportunity for serving more
customers. Electronic payment systems offer you multiple ways of securing your payments
such as tokenization, encryption, SSL, etc. Now customers do not have to enter their card
details every time as they can save their card details or complete their transactions by using
a One Time Password.
3.Better customer convenience: Electronic payments can help you to provide convenient
payment experience to customers. It allows customer to purchase goods on credit by
offering them with the pay later facility. Instead of sending constant reminders for payment
to your customers, you can automatically collect money after a specific period.
4.Saves processing costs: If you want to provide payment services to your customers then
you first need to tie up with a card processor. The processor will provide you with a
payment gateway for processing and in exchange, it will charge a fixed cost from you. This
cost is very high.
Disadvantages
1.Service Fees: Many a time while using e-payment services we are liable to pay service
fees or a convenience fee which adds to our expense.
2.Risk of Theft: There have been many incidents in which cybercriminals have
manipulated people and money has been looted.
3.Technical Problems: As it is an online service, it may go down due to technical issues

and people who get 100% reliable on this service for their payments may face an issue.
4.Remote Areas: Remote areas still rely on cash. You might find it difficult in making
payments on the go while traveling to some remote areas.

TOP TRENDING MOBILE WALLETS
1.Paytm: Paytm is one of the most popular mobile wallets in India that offers users
an online payment platform for secure transactions. Paytm is a user-friendly
application and easy to use. Paytm, which is now a payment bank too, has over the
last 4-5 years expanded into ecommerce, ticketing, and distribution of financial
products. As a payments bank, its focus is also on building a banking customer base
and to sell other financial products. Paytm is available on both platforms, Android
and iOS.
2.MobiKwik: Mobikwik wallet is an online payment wallet system where a person

after logging in, can add money via his debit or credit card. After adding the money,
he or she can make transactions on mobile, DTH, pay electricity bills and much
more. You can undertake all these transactions without any hard cash. Mobikwik is
available to iOS, Android, and Windows Phone users
3.JioMoney: JioMoney wallet has a simple interface and all the elements that
matter are visible at once to users. For instance, wallet balance, the option to
recharge, send/request money, and pay at a shop are present on the main page itself.
It is available in Google Play Store and Apple App Store.
4.Oxigen: Oxigen has a lively looking interface with a banner on special schemes
running on top, followed by the options that are available. You can send or ask for
money, pay bills and get recharges. Users feel secure with Oxigen while doing
transaction because every time a six-digit one-time password (OTP) is sent to the
registered mobile number. According to company website it has a retail footprint
of 1,00,000 outlets and has processed over 2 billion transactions till date with a
current transaction volume rate of 720 million transactions per annum. It has a large
customer base of over 150 million. The Oxigen wallet app is available only to
Android users.

5.State Bank Buddy: The mobile wallet app can be used to send money to new and
registered customers, book movies, flights and hotels, as well as for shopping. It
also has features like reminders to settle dues, recharge and pay bills instantly. This
wallet app is available in 13 languages and allows users to set reminders for money
transfers and clearing dues. The SBI Buddy app is available in Google Play Store
and Apple App Store. International Journal of Management, Technology and
Engineering Volume 8.
6.Google Pay: Google Pay (G pay) is a digital wallet platform and online payment
system developed by Google to power in-app and tap-to-pay purchases on mobile
devices, enabling users to make payments with Android phones, tablets or watches.
Google Pay adopts the features of both Android Pay and Google Wallet through its
in-store, peer-to-peer, and online payments services. Google Pay takes advantage
of physical authentications such as fingerprint ID where available. On devices
without fingerprint ID, Google Pay is activated with a pass code. The simple way
to send or receive money with anyone, Shop, recharge, and more, Rewards that are
endlessly rewarding, pay nearby, more than 50banks listed under that google pay
wallet, money is protected. Presently 200-250 million of people are using a mobile
wallet which is expected to grow to about 500 million users in further. Most of the
mobile wallets are offering cashback offer and discounts for an online payment
transaction to motivate the customer to do online payment.

CHAPTER 4
DATA ANALYSIS AND
INTERPRETATION

DATA ANALYSIS AND INTERPRETATION

The purpose of the data analysis and interpretation phase is to transform the data
collected to know the customer satisfaction on electronic payment.
The process usually includes the following steps;
1.Organizing the data for analysis
2.Describing the data
3.Interpretation of the data
The data required for the study was collected from sixty peoples who use electronic
payment. Responses obtained from those peoples were suitably classified tabulated
and analysed with the help of statistical tools like percentage, charts and tables.
1.GENDER WISE DISTRIUTION OF RESPONDENTS
TABLE 4.1
SL.NO GENDER FREQUENCY PERCENTAGE
1 MALE 18 30%
2 FEMALE 42 70%
3 OTHERS 0 0%
FIGURE 4.1
GENDER
80.00%
70%
70.00%
60.00%
50.00%
40.00%
30.00%
30.00%
20.00%
10.00%
0.00%
0.00%
MALE FEMALE OTHERS
GENDER

INTERPRETATION
From the above table we can understand 30% of respondent are male, 70% of
respondent are female and 0% of respondents are another category.
2.AGE WISE DISTRIBUTION OF RESPONDENTS
TABLE 4.2
SL.NO AGE FREQUENCY PERCENTAGE
1 BELOW 30 50 83.3%
2 31-50 7 11.7%
3 51 AND ABOVE 3 5%
FIGURE 4.2
AGE
51 AND ABOVE 3
31-50 7
BELOW 30 50
0 10 20 30 40 50 60
AGE
INTERPRETATION
From the above table we can understand 83.3% of respondents are in the age group
of below 30, 31-50 age group have 11.7% of the respondents and 5% of respondents
comes under the age group of 51 and above.

3. STATUS OF RESPONDENTS
TABLE 4.3
SL.NO MARITAL STATUS FREQUENCY PERCENTAGE
1 STUDENT 47 78.3%
2 BUSINESS 4 6.7%
3 PROFESSION 0 0%
4 EMPLOYEE 6 10%
5 UMEMPLOYED 1 5%
FIGURE 4.3
MARITAL STATUS
UNEMPLOYED 3
EMPLOYEE 6
PROFESSION 0
BUSINESS 4
STUDENTS 47
0 10 20 30 40 50
MARITAL STATUS
INTERPRETATION
From the above table we can understand 78.3 of respondents are students, 6.7% of
the respondents are doing business. There are no respondents with professional
status, 10% of respondents are employees, and 5% of respondents are unemployed

4.CLASSIFICATION ON THE BASIS OF ANNUAL INCOME
TABLE 4.4
SL.NO ANNUAL INCOME FREQUENCY PERCENTAGE
1 BELOW 2 LAKHS 49 82%
2 2 LAKHS- 5 LAKHS 10 17%
3 ABOVE 5 LAKHS 1 1%
FIGURE 4.4
ANNUAL INCOME
1%
17%
BELOW 2 LAKHS
2 LAKHS - 5 LAKHS
ABOVE 5 LAKHS
82%
INTERPRETATION
From the above table we can understand 82% of respondent’s have annual income
below 2 lakhs, 17% respondents have annual income between 2 lakhs and 5 lakhs
and only 1% of respondents have annual income above 5 Lakhs.

5. PREFERENCE TOWARDS PAYMENT MODE
TABLE 4.5
SL.NO PAYMENT METHODS FREQUENCY PERCENTAGE
1 CASH PAYMENT 36 60%
2 ELECTRONIC PAYMENT 24 40%
FIGURE 4.5
PAYMENT METHODS
40%
60% CASH PAYMENT
ELECTRONIC PAYMENT
INTERPRETATION
From the above table we can understand that 60% of respondents prefer cash
payment and 40% of respondents prefer electronic payment.

6.REGULARITY OF USAGE OF ELECTRONIC

PAYMENT SYSTEM
TABLE 4.6
SL.NO USAGE OF E-PAYMENT FREQUENCY PERCENTAGE
1 ALWAYS 14 23.3%
2 SOMETIMES 29 48.3%
3 RARLEY 14 28.3%
FIGURE 4.6
USAGE OF ELECRONIC PAYMENT

35
30
25
20 ALWAYS
15 SOMETIMES
29
10 RARLEY
14 14
5
0
ALWAYS SOMETIMES RARLEY
INTERPRETATION
The above table show that 48.3% of respondents use electronic payment sometimes,
28.3% of respondents use it rarely and 23.3% use electronic payment always.

7.OPINION REGARDING INCREASED DEPENDENCE ON

ELECTRONIC PAYMENT DURING COVID PANDEMIC
SITUATION
TABLE 4.7
SL.NO PARTICULAR FREQUENCY PERCENTAGE
1 AGREE 58 97%
2 DISAGREE 2 3%
FIGURE 4.7
DEPENDENCE OF E-PAYMENT IN
COVID PANDEMIC SITUATION
3%
AGREE
DISAGREE
97%
INTERPRETATION
From the above table it is understood that 97% of respondents agree with the
statement Covid pandemic situation lead to an increased dependence on
electronic payment method and only 3% disagree with the statement.

8.RESPONSE ON FACING SITUATION WHICH DEMANDS

ELECTRONIC PAYMENT ONLY
TABLE 4.8
1 YES 38 63%
2 NO 22 37%
FIGURE 4.8
SITUATIONS WHICH DEMAND E-

PAYMENT OPTION ONLY
37%
YES
63%
NO
INTERPRETATION
The above table shows that out of the total respondents, 63% of respondents says
that they have faced situation which demand electronic payment option only and
37% says that they haven’t face any situation which demand electronic payment
option only.

9. AVAILABILITY OF ELECTRONIC PAYMENT
TABLE 4.9
1 ALL ARE AVAILABLE 15 25%
2 SOME ARE AVAILABLE 41 68%
3 NOT AVAILABLE 4 7%
FIGURE 4.9
AVAILABILITY OF E-PAYMENT
7%
25%
ALL ARE AVAILABLE
SOME ARE AVAILABLE
68% NOT AVAILABLE
INTERPRETATION
Out of the total respondents, 68% of respondents says that some of the electronic
payment methods are available on smartphone or nearby shops, 25% of respondents
says that all are available and only 7% of the respondents says they are Not
available.

10.MOST PREFERABLE TYPE OF ELECTRONIC PAYMENT
TABLE 4.10
SL.NO USAGE OF E-PAYMENT FREQUENCY PERCENTAGE
1 INTERNET BANKING 19 31.7%
2 DEBIT CARD 15 25%
3 UPI SERVICE 23 38.3%
4 MOBILE WALLET 3 5%
5 PREPAID CARDS 0 0%
FIGURE 4.10
ELECTRONIC PAYMENT METHOD

45.0%
40.0%
35.0%
30.0% INTERNET BANKING
25.0% DEBIT CARD
20.0% 38.3% UPI SERVICE
15.0% 31.7%
25% MOBILE WALLET
10.0%
5.0% 5% 0 PREPAID CARD
0.0%
INTERNET DEBIT CARD UPI SERVICE MOBILE PREPAID
BANKING WALLET CARD
INTERPRETATION
The above table shows that 38.3% of respondents prefer UPI services ,31.7% of
respondents prefer Internet Banking, 25% of respondents prefer Debit Card, 5% of
respondents prefer mobile wallet and nobody prefer prepaid cards.

11.MOST PREFERABLE UPI SERVICES
TABLE 4.11
SL.NO UPI SERVICE PROVIDERS FREQUENCY PERCENTAGE
1 GOOGLE PAY 46 76.7%
2 PHONEPE 8 13.3%
3 AMAZON PAY 0 0%
4 PAYTM 5 8.3%
5 BHIM APPS 1 1.7%
FIGURE 4.11
VARIOUS UPI SERVICE PROVIDER

VARIOUS UPI SERVICE PROVIDER
BHIM APPS
1
PAYTM
5
AMAZON PAY
0
PHONEPE
8
46
GOOGLE PAY
INTERPRETATION
The above table show that 76.7% of respondents prefer Google pay, 13.3% are
prefer Phonepe, 8.3% are prefer Paytm, 1.7% are prefer Bhim apps and nobody
prefer Amazon pay.

12. FACTORS THAT ATTRACTS CUSTOMER TO USE THE

UPI APPS
TABLE 4.12
SL.NO FACTORS FREQUENCY PERCENTAGE
1 OFFERS 14 23.3%
2 CASH BACK 18 30%
3 SCRATCH CARD 9 15%
4 USER INTERFACE 11 18.3%
5 SECURITY 25 47.7%
FIGURE 4.12
FACTORS THAT ATTRACTS CUSTOMER

TO USE UPI APPS
SECURITY 47.7%
USER INTERFACE 18.3%
SCRATCH CARD 15%
CASH BACK 30%
OFFERS 23.3%
0.0% 10.0% 20.0% 30.0% 40.0% 50.0% 60.0%
FACTORS THAT ATTRACTS CUSTOMER TO USE UPI APPS
INTERPRETATON
From the above table it is understood that 47.7% of respondents are using UPI
because of its security, 30% are using for its cash backs, 23.3% are using because
of its offers, 18.3% are using UPI for scratch card.

13. PERIOD OF USAGE OF UPI
TABLE 4.13
SL.NO PERIOD FREQUENCY PERCENTAGE
1 BELOW 1 YEAR 31 52%
2 1 – 2 YEARS 14 23%
3 2 – 3 YEARS 8 13%
4 MORE THAN 3 YEARS 7 12%
FIGURE 4.13
PERIOD OF USAGE OF UPI BY CUSTOMER
12%
13% BELOW 1 YEAR
52% 1 - 2 YEARS
23% 2 - 3 YEARS
MORE THAN 3 YEARS
INTERPRETATION
From the above table shows 52% of respondents have started using UPI service
below 1 year, 23% are using the UPI for 1-2 years, 13% are using for 2-3 years,
12% are using UPI for more than 3 years.

14.OPINION ON INTERNET BANKING MAKES LIFE EASIER
TABLE 4.14
1 YES 54 90%
2 NO 6 10%
FIGURE 4.14
USING INTERNET BANKING MAKES YOUR

LIFE EASIER
10%
YES
NO
90%
INTERPRETATION
From the above table out the total respondents, 90% of respondents agree with this
statement internet banking makes life easier and only 10% of them disagree with
this statement.

15. SATISFICATION ON VARIOUS ELECTRONIC PAYMENT

SERVICES
TABLE 4.15.1
FREQUENCY
FACTORS High Medium Low
Convenience 36 23 1
Easy to use 50 10 0
Saves time 49 7 4
Reasonable service charge 24 30 6
24-hour service 50 8 2
Instant Payment 41 15 4
Increase in standard of
43 11 6
living
TABLE 4.15.2
PERCENTAGE
FACTORS High Medium Low
Convenience 60% 38.3% 1.7%
Easy to use 83.3% 16.7% 0%
Saves time 81.7% 11.7% 6.6%
Reasonable service charge 40% 50% 10%
24-hour service 83.3% 13.3% 3.4%
Instant Payment 68.3% 25% 6.7%

Increase in standard of
71.7% 18.3% 10%
living

FIGURE 4.15
SATISFACTION ON ELECTRONIC PAYMENT

SERVICE
HIGH MEDIUM LOW
50
50
49
43
41
36
30
24
23
15
11
10
8
7
6
4
4
2
1
C O N V E N I E N CEEA S Y T O U S E S ARVEEA TS O
I MNEA B L E S E R V2I C4 EHCOHUARR SGEEI RNVS ITICN
AEN
C RT EPAASYEMI N
E NSTT A N D A R D O F L I V I N G
INTERPRETATION
The above table shows the factors which influence the satisfaction of various
electronic payment services. Out of the total respondents 60% of respondents have
a high level of satisfaction regarding the convenience and only 1.7% of respondents
have low satisfaction regarding the convenience.
In the case of easy to use, 83.3% respondents say high, and 16.7% are saying
medium, there is no low-level satisfaction.
In the case of save time 81.7% respondents saying they have high level of
satisfaction, 11.7% are saying medium and 6.6% of saying low level of satisfaction.
In the case of reasonable service charge, 40% respondents saying as high
satisfaction, 50% are saying as medium, and 10% saying as low level of satisfaction.
In the case of 24-hour service, 83.3% of respondents are saying as high level of
satisfaction, 13.3% are saying as medium and 3.4% are saying as low level of
satisfaction
In the case increase in standard of living, 71.7% of respondents are saying as high
level of satisfaction, 18.3% are saying as medium and 10% are saying as they have
a low level of satisfaction about this.

16. PROBLEMS WHILE MAKING ELECTRONIC PAYMENT
TABLE 4.16.1
FREQUENCY
PROBLEMS Very High High Neutral Low Very Low
Security related issue 9 17 27 7 0
Technical issue 13 23 21 2 1
Lack of awareness 15 22 16 5 2
Low internet
9 25 19 6 1
bandwidth
Fear of loss of pin
11 19 17 9 4
number
Not applicable in all
15 29 13 2 1
situation/places
TABLE 4.16.2
PERCENTAGE
PROBLEMS Very High High Neutral LOW Very Low
Security related issue 15% 28.3% 45% 11.7% 0%
Technical issue 21.7% 38.3% 35% 3.3% 1.7%
Lack of awareness 25% 36.7% 26.7% 8.3% 3.3%

Low internet
15% 41.6% 31.7% 10% 1.7%
bandwidth
Fear of loss of pin
18.3% 31.7% 28.3% 15% 6.7%
number
25% 48.3% 21.7% 3.3% 1.7%
situation/places

FIGURE 4.16
PROBLEMS WHILE MAKING ELECTRONIC

PAYMENT
VERY HIGH HIGH NEUTRAL LOW VERY LOW
29
27
25
23
22
21
19
19
17
17
16
15
15
13
13
11
9
9
7
6
5
4
2
2
1
1
0
INTERPRETATION
From the above table it is clear that 45% of people respondent have a neutral
opinion about security related issue while making e payment, and 28.3% says that
they have a high security related issues, 38.3% says that E-payment have a high
technical issue and 35% have a neutral opinion about that. 36.7% of people says
that lack of awareness about E-payment is very high and 3.3 % people said they had
a very low problem like this. From the table above, we can see that 41.6% of
respondents are experiencing high levels of low internet bandwidth and 31.7% of
respondents have a neutral opinion about it. 31.7% of respondents say that fear of
loss of pin number is very high and 15% of people have a very low fear of loss of
pin number. 48.3% of respondents say that E-payment services are not applicable
in all situations or places and 1.7% respondents say they have faced a very little
issues relating to the applicability of the e- payment services.

17. LOSS OF MONEY DUE TO DIGITAL FRAUD
TABLE 4.17
1 YES 50 83%
2 NO 10 17%
FIGURE 4.17
LOST MONEY DUE TO DIGITAL FRAUD
17%
YES
83% NO
INTERPRETATION
From the above table it is found that out of 60 respondents, 17% of respondents had
not lost their money due to digital fraud, and 83% of respondents had lost their
money due to digital fraud.

18. RECOMMENDATION OF ELECTRONIC PAYMENT TO

OTHERS
TABLE 4.18
1 YES 4 7%
2 NO 56 93%
FIGURE 4.18
RECOMMENDATION OF ELECTRONIC
PAYMENT
7%
YES
NO
93%
INTERPRETATION
From the above table it can be analysed that majority of the respondents (93%) says
that they will recommend electronic payment methods to others and 7% of
respondents say that they will not recommend electronic payment methods to
others.

19. RECOMMENDATION OF UPI APPS TO OTHERS
TABLE 4.19
SL.NO APPS FREQUENCY PERCENTAGE
1 GOOGLE PAY 50 83.3%
2 PHOHEPE 18 30%
3 AMAZON PAY 4 6.7%
4 PAYTM 9 15%
5 BHIM APP 1 1.7%
FIGURE 4.19
RECOMMENDATION OF VARIOUS UPI

APPS
BHIM APP 1
PAYTM 9
AMAZON PAY 4
PHONEPE 18
GOOGLE PAY 50
0 10 20 30 40 50 60
RECOMMENDATION OF VARIOUS UPI APPS
INTERPRETATION
From the above figure it is clear that 83.3% of respondents recommend Google pay
to others, 30% of respondents recommend PhonePe to others, 6.7% of respondents
recommend Amazon pay to others, 15% of respondents recommend Paytm to
others, and 1.7% of respondents recommend BHIM App to others.

20. OPINION ABOUT ELECTRONIC PAYMENT REPLACE CASH

IN FUTURE
TABLE 4.20
1 DEFINITELY 18 30%
2 MAYBE 33 55%
3 NEVER 9 15%
FIGURE 4.20
OPINION ABOUT ELECRTONIC

PAYMENT REPLACE CASH IN FUTURE
15%
30%
DEFINITELY
MAYBE
55%
NEVER
INTERPRETATION
Out of the total respondents, 30% of respondents belong to the opinion of
‘Definitely’, 55% of the respondents belong to the opinion of ‘Maybe’, and 15% of
respondents belong to the opinion of ‘Never’ happens, regarding the statement
‘Electronic payment completely replace cash in future’

CHAPTER 5
FINDINGS, SUGGESTIONS
AND CONCLUSION

FINDINGS
1.Most of the respondents are female (70%).
2.Majority of respondents (83.3%) fall within the age group below 30 years.
3.Most of the respondents were students.
4. Majority of respondents have Annual income below 2lakh.
5.Most of the respondents prefer cash payment (60%) than E-payment.
6.Majority of respondents use E-payment sometimes (48.3%).
7.Majority of respondents (97%) agree that Covid pandemic situation leads to an

increased dependence on electronic payment.
8.Majority of respondents (63%) says that they have faced situations which demand
E-payment option only.
9.Most of respondents (68%) says that some E-payment methods are available in
their smartphone/ nearby shops.
10.Majority of respondents (38.3%) prefer UPI services over other E-payment
methods.
11.Google pay is most preferred UPI service (76.7%).
12.Most respondents prefer UPI apps because of its security.
13.Majority of respondents (52%) have started using UPI services for less than
1year.
14.Majority of respondents says that internet banking makes their life easier.
15.Most of the respondents says that they have a high level of satisfaction on
convenience (60%), Easy to use (83.3%), saves time (81.7%), 24 – hour service
(83.3%), instant payment (68.3%), increase in standard of living (71.7%) and
medium level of satisfaction on reasonable service charge (50).
16.Majority of the respondents says that Lack of awareness (25%), Not applicable
in all situations/places (25%), Technical issues (21.7%) and Fear of loss of PIN
Number (18.3%) are the major problems faced while making electronic
payment.

17.Most of respondents says that they have lost money due to digital frauds.
18.Majority of respondents (93%) says that they will recommend E-payment

service to their friends, family, and associates.
19.Most of respondents recommend Google pay to others.
20.Most of respondents says that E-payment may replace cash in future.
SUGGESTIONS
• Privacy & security measures should be enhanced.
• Usage complexity should be reduced.
• Interesting offers, cashback, prepaid option and customer loyalty programmes
should be increased.
• Wide range applicability should be ensured.
• New payment trends and new features should be introduced.
• Multiple payment option should be made available
• Awareness should be created among the customers regarding the security and
digital frauds.
• Innovative advertisements attract more customers.
• Measures should be taken to reduce technical problems.
• Maintain proper advertising with innovation.
• Maintain a fully accurate customer service.

CONCLUSION
Customer satisfaction is very important for e-Payment / UPI service providers to

maintain and improve the quality of their service. They are able to gain more
customers through better service in their business and thereby achieve greater
benefits and profits. This will enable them to stay afloat in the field of electronic
payments and contribute significantly to our country’s GDP. This improvement
will be reflected in other areas and the standard of living of people. From this we
can understand the role customer satisfaction in a business. If people are not
enjoying the UPI app, it is imperative to take immediate action. Customers are what
help a business survive. It is therefore important to understand their needs and to
keep existing and new customers in checked. The e-payment system was introduced
as part of social advancement and can provide relief to the people for cashless
transactions. It is mainly aimed want to make money transactions conveniently,
easily and without having to carry cash on hand. Customers flock to this e-payment
system because it ensures great security and minimizes direct contact between
people during the pandemic situation. Therefore, it was necessary to measure the
level of satisfaction. This study analyses the objectives, significance and impact of
the electronic payment system. The study reveals that the majority of respondents
are customers of various e-payment service providers such as Google Pay, Phonepe
and Paytm. E-payment makes lives easier. Although this service helps them to
complete their daily transactions very efficiently, quickly and with minimal effort,
there is something missing and that is why people prefer cash payment over e-
payment.

BIBLIOGRAPY

BIBLIOGRAPHY
REFERENCES
1) Anjali Ahuja &Richa Joshi (2018) “Customer Perception towards Mobile Wallet”,
IJRDOJournal of Business Management - ISSN: 2455-6661.
2) Aijaz A. Shaikh &HeikkiKarjaluoto (2016)-Mobile banking services continuous usage –Case

study of Finland
3) BasavarajNageshKadamudimatha (2016) “Digital Wallet: The next way of growth”

International Journal of Commerce and Management Research.
4) Bezovski, Z. (2016). The Future of the Mobile Payment as Electronic Payment System.
European Journal of Business and Management, 8(8), 127-132.
5) Dennehy, D. &Sammon, D., 2015. “Trends in mobile payments research: A literature

review”, Journal of Innovation Management, 3(1), pp. 49-61.
WEBSITES
● https://cashlessindia.gov.in/
● https://core.ac.uk/
● https://www.researchgate.net/
● http://ijariie.com/

APPENDIX

QUESTIONNAIRE
Name:
1. Age
☐ Below 30
☐ 31 to 50
☐ 51 and Above
2. Gender
☐ Male
☐ Female
☐ Others
3. Status
☐ Student
☐ Business
☐ Profession
☐ Employee
☐ Unemployed
4. Annual Income
☐ Below 2 Lakh
☐ 2 Lakh – 5 Lakh
☐ Above 5 Lakh
5. Do you prefer cash payment or Electronic payment?

☐ Cash Payment
☐ Electronic payment

6. How often do you use electronic payment methods?

☐ Always
☐ Sometimes
☐ Rarely
7. "Covid pandemic situation leads to increased dependence on electronic

payment methods" Do you agree?
☐ Agree
☐ Disagree
8. Do you ever faced any situation which demand "Electronic Payment" option
only?
☐ yes
☐ No
9. Do all electronic payments methods are available in your smart phone or

nearby shops?
☐ All are available
☐ Some are available
☐ Not available
10. Which electronic payment method you prefer most?

☐ Internet Banking
☐ Debit Card
☐ UPI Service
☐ Mobile Wallet
☐ Prepaid Cash

11. Among the following which UPI app do you prefer most?
☐ Google Pay
☐ Phonepe
☐ Paytm
☐ Bhim App
12. Why you prefer to use this particular app?

☐ Offers
☐ Cash back
☐ Scratch card
☐ User Interface
☐ Security
13. When you have started using UPI service?

☐ Below 1 year
☐ 1 – 2 years
☐ 2 – 3 years
☐ More than 3 years
14. Do you think that using internet banking makes your life easier?
☐ Yes
☐ No

15. Rate your satisfaction on electronic payment Service.
High Medium Low
Convenience ☐ ☐ ☐
Easy to use ☐ ☐ ☐
Saves time ☐ ☐ ☐
Reasonable service
☐ ☐ ☐
charge
24-hour service ☐ ☐ ☐
Instant Payment ☐ ☐ ☐
Increase in standard
☐ ☐ ☐
of living
16. State your opinion regarding problems of “Electronic Payment".
Very High High Neutral Low Very Low
Security related issue ☐ ☐ ☐ ☐ ☐
Technical issue ☐ ☐ ☐ ☐ ☐
Lack of awareness ☐ ☐ ☐ ☐ ☐
Low internet
☐ ☐ ☐ ☐ ☐
bandwidth
Fear of loss of pin

☐ ☐ ☐ ☐
number ☐

☐ ☐ ☐ ☐ ☐
situation/places

17. Have you ever lost money due to digital fraud (Eg. Credit/Debit card stolen,
Online bank account hacked)?
☐ Yes
☐ No
18. Would you recommend Electronic payment service to your friends, relatives,
associates?
☐ Yes
☐ No
29.Which UPI apps could you recommend to others?

☐ Google Pay
☐ Phonepe
☐ Amazon Pay
☐ Paytm
☐ Others
20. Will electronic payment completely replace cash in future? Give your opinion.
☐ Definitely
☐ Maybe
☐ Never

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CUSTOMER SATISFACTION ON ELECTRONIC PAYMENT

SWAMY SASWATHIKANANDA COLLEGE, POOTHOTTA 1

The electronic payment, it is also called as online payment

E-payment system is a payment system in which monetary value is digitally

The beginning of e-payment systems along with internet development, pioneer

SWAMY SASWATHIKANANDA COLLEGE, POOTHOTTA 2

Here the study conducted on the topic of customer satisfaction on electronic

So due to the covid19 pandemic situation, the relevant presence of e – payment

SWAMY SASWATHIKANANDA COLLEGE, POOTHOTTA 3

STATEMENT OF THE PROBLEM

OBJECTIVES OF THE STUDY

• To compare and analyse the customer satisfaction level in electronic payment

• To know the future prospects of electronic payment system.

SIGNIFICANCE OF THE STUDY

SWAMY SASWATHIKANANDA COLLEGE, POOTHOTTA 4

SCOPE OF THE STUDY

• Data collection is conducted with limited customers.

• Customer’s opinion may change.

• It was difficult to have necessary information within a limited period.

• There is a possibility of occurring sampling errors.

SWAMY SASWATHIKANANDA COLLEGE, POOTHOTTA 5

CHAPTER-2 REVIEW OF LITERATURE

CHAPTER-3 THEORETICAL FRAMEWORK

This chapter includes Features, types, advantages and limitations of electronic

CHAPTER-4 DATA ANALYSIS AND INTERPRETATION

CHAPTER-5 FINDINGS, SUGGESTIONS AND CONCLUSION

SWAMY SASWATHIKANANDA COLLEGE, POOTHOTTA 6

SWAMY SASWATHIKANANDA COLLEGE, POOTHOTTA 7

2.1.1. Doan (2014) he conducted a study to understand consumer adoption on

SWAMY SASWATHIKANANDA COLLEGE, POOTHOTTA 8

SWAMY SASWATHIKANANDA COLLEGE, POOTHOTTA 9

SWAMY SASWATHIKANANDA COLLEGE, POOTHOTTA 10

SWAMY SASWATHIKANANDA COLLEGE, POOTHOTTA 11

An E-payment or Electronic Payment system allows customers to pay for the

Security: One of the most important features to consider in a payment gateway is

Detailed reporting: For many retailers, a payment gateway is only a virtual

SWAMY SASWATHIKANANDA COLLEGE, POOTHOTTA 12

Invoicing options: Having a secure payment gateway with an in-built invoice

Types of E-Payment System

E-payments can be done in the following ways,

SWAMY SASWATHIKANANDA COLLEGE, POOTHOTTA 13

Alternate payment methods – As technology is evolving, e-payment methods kept

E-wallet – Very popular among customers, an E-wallet is a form of prepaid

Mobile wallet – An evolved form of e-wallet, mobile wallet is extensively used by

QR payments – QR code-enabled payments have become immensely popular. QR

Contactless payments – Contactless payments are becoming popular for quite

UPI payments – NPCI (National Payment Corporation of India) has developed an

SWAMY SASWATHIKANANDA COLLEGE, POOTHOTTA 14

3.Technical Problems: As it is an online service, it may go down due to technical issues

SWAMY SASWATHIKANANDA COLLEGE, POOTHOTTA 15

TOP TRENDING MOBILE WALLETS

2.MobiKwik: Mobikwik wallet is an online payment wallet system where a person

SWAMY SASWATHIKANANDA COLLEGE, POOTHOTTA 16

SWAMY SASWATHIKANANDA COLLEGE, POOTHOTTA 17

SWAMY SASWATHIKANANDA COLLEGE, POOTHOTTA 18

DATA ANALYSIS AND INTERPRETATION

1.GENDER WISE DISTRIUTION OF RESPONDENTS

SWAMY SASWATHIKANANDA COLLEGE, POOTHOTTA 19

2.AGE WISE DISTRIBUTION OF RESPONDENTS

SL.NO AGE FREQUENCY PERCENTAGE

SWAMY SASWATHIKANANDA COLLEGE, POOTHOTTA 20

SL.NO MARITAL STATUS FREQUENCY PERCENTAGE

SWAMY SASWATHIKANANDA COLLEGE, POOTHOTTA 21

4.CLASSIFICATION ON THE BASIS OF ANNUAL INCOME