Payment Banks in India: Insights From the Customers' Perception

Mukta Mani and Rachit Agarwal
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Mukta Mani: Jaypee Institute of Information Technology, India
Rachit Agarwal: Jaypee Institute of Information Technology, India

International Journal of Asian Business and Information Management (IJABIM), 2022, vol. 13, issue 1, 1-15

Abstract: Payment banking system has been established in India with the main objective of financial inclusion and promotion of digital transactions. After 2 to 3 years of their coming into picture, the model is being criticized on various grounds. Studies imply that the payment banks are struggling to succeed because of tough competition with commercial banks and their basic structure. This study is an attempt to analyze the position of payment banks on the basis of customers perception. A primary survey has been carried out through a well-structured questionnaire. The results put forward that customers adore payment banks for their easy, convenience, safety and speed. The male and female users of young and middle age are equally liking and using the payment banks. They widely use these banks for making mobile recharge; ticket booking and bill payments etc. but they don’t use them for all their banking transactions. This study provides an insight into the ground realities related to payment banks. Thus it might be useful for Payment bankers and policymakers for their future decision making.

Date: 2022
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