Digital Payment Risk and its Impact on Different Generation (Gen Y/Gen Z)
Creators
- 1. Department of Management Studies, Indian Institute of Information Technology, Allahabad, Prayagraj, India
Description
Abstract: In view of the promising growth of digital payment worries about associated risk factors has also augmented with time. Literature indicates that there are various risk factors such as cyber security, operational risk and perceived risk that are found to be discouraging in nature while factors like ease of use, offers and rewards have acted as encouraging factors in the use of digital payment. The purpose of the study was to discover how two different generations view and distinguish various risk factors based on their usage for digital payment. Data were collected using questionnaire in which a cross-sectional study was carried upon on a sample of 200 respondents from GY and GZ. Thereafter, normality test was performed for assessing normal distribution. From the data set collected, only 174 data of the respondent was screened in for applying EFA for assessing cohesiveness of factors with the objective. Subsequently, CFA was piloted to identify association between latent and observed variables and to validate factor structure. On analyzing the responses, it was observed that different types of digital risk have different influence on generation’s perceptions.
Keywords: Digital payment, Risk, Perception
JEL Classification Number: A10, C3