Factors Influencing Consumer s Intention to Use E payment System An Empirical Study
UNNAYAN International Bulletin of Management and Economics Volume IX July 2018 (Special Issue) 14 In the recent years, electronic commerce (e commerce) has growing rapidly. E commerce became an opportunity for companies to increase their selling. E commerce provides the capability of buying and selling products, information and services on the Internet and on other online environments. In an ecommerce surrounding, payments made in an electronic form, and are therefore called Electronic Payment. Electronic payment is a division of an e commerce transaction to include e payment for buying and selling of goods or services accessible through the internet. With the rapid growth of technology, the process to make electronic transactions are continuously increasing while the percentage of cash and cheques transactions continuously decreasing. Thus, the main objective of this paper is to explore the factors which influence consumer's intention to use e payment system for various purposes. Using principal component method of exploratory factor analysis, four factors viz. Perceived Usefulness, Perceived Social Esteem, Perceived Security and Perceived Reliability are identified that are affecting consumer's intention. The research is mainly focused on primary data which were collected from e commerce users through well structured questionnaire. The outcomes of this study are helpful to the users of e payment system, researchers who will be working in this field and companies planning to adopt or to improve their electronic payment system. Keywords E Payment System, Usefulness, Social Esteem, Security and Reliability