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Exploring the Factors Affecting Consumer’s Adoption of Digital Payment System
With growth in digital commerce and internet access, digital payments services have huge potential in the country; however, consumer adoption of digital payments system is still low in India. Therefore, the present study tries to validate the unified theory of acceptance and use of technology (UTAUT) model to predict the behavioural intention to use digital payment system. A sample of 112 Undergraduate students of the University of Patiala is used to examine the research hypotheses. The findings indicate that performance expectancy and social influence are important determinants for digital payment system adoption and use, but effort expectancy has a significant negative influence on behavioural intention and facilitating conditions have no influence on behavioural intention to use digital payment system. The study offers several practical implications for digital payments service providers and banks regarding the marketing of new payment systems to increase users’ behavioural intention to use this payment system.
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