Implications of next generation technologies on consumer behavior in large ticket size digital transactions

Abstract

Recent years have seen emergence of various new technologies with the advent of internet and Smart phones. Our paper aims at studying digital payments as a technology. There have been various modes of digital payments ranging from credit cards, debit cards, internet banking to mobile wallets and UPI (Universal payment Interface). This paper specifically focuses on the adoption and diffusion of digital payments as a category in India. We have used quantitative and qualitative research methodologies to identify the factors impacting adoption and diffusion of this technology. Quantitative analysis includes BASS model of adoption and diffusion and Qualitative analysis includes technology acceptance model using the insights obtained from depth interviews. Digital payments as a technology is found to be promising however there are certain factors identified which can be improved to enhance the acceptance of the technology.