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- Title
FinTech: A Study on Digital Payments in Ahmedabad City.
- Authors
Shukla, Sneha S.; Gehani, Varsha; Kalwani, Jayesh
- Abstract
FinTech termed as financial technology has retransformed and reshaped the banking industry.lt has changed the way in which companies interact with their customers resulting in reducing time to transfer funds from days to few seconds. The demonetization and resulting cash crunch faced by people has given rise to digital payment apps. The tech- savvy millennial are constantly thriving to provide new and more innovative ways of doing transactions. In 2015, more than 12,000 start-ups grew in the Fintech space across the world with a massive investment of USD 19 billion. Moreover, the industry is likely to continue its current growth trail, with the global Fintech software and services sector predicted to touch USD 45 billion by 2020 at a Compound Annual Growth Rate (CAGR)of7.1%. The paper is an attempt to understand the preference of respondents towards digital payments. The study also attempts to find customers' most preferred modes of doing the transactions and the reasons behind using the digital payment apps. The paper then examines the barriers faced by the respondents while using digital payments. The study is conducted in Ahmedabad City with a sample size of 120 respondents. Techniques like one-way ANOVA, Chi-square, Rank Analysis & Factor Analysis are used for testing the hypotheses and drawing conclusions.
- Subjects
COMPOUND annual growth rate; FINANCIAL technology; ELECTRONIC funds transfers; ONE-way analysis of variance; SERVICE industries
- Publication
IFIMs Focus: The International Journal of Management, 2018, Vol 14, Issue 1, p52
- ISSN
0973-9165
- Publication type
Article