Consumer preference for adopting online payment methods-the influencing role of consumer trust, self-efficacy and satisfaction among urban indian adults in Bengaluru

The Indian banking sector has made it possible to financially include a substantial portion of the national population to open bank accounts. The extremely high rates of mobile phone ownership among the Indian population enables the digital payments platform to forecast a huge demand potential for online transactions. However, the contemporary challenges faced by the Indian payments platform service providers are about understanding the important factors that affect consumer adoption of online payment methods. The present study is part of a descriptive study focusing on understanding the influence of consumer trust, self-efficacy and consumer satisfaction among urban Indian adults towards adopting online payment methods. Consumer trust, self-efficacy and consumer satisfaction have been found to influence the consumer preference for adopting online payment methods, although the influences are not of equal magnitude. The study contributes in providing important insights about the importance that urban Indian adults in a cosmopolitan city like Bengaluru gives to factors like trust, self-efficacy perceived and satisfaction felt when adopting digital payment methods through mobile banking. Descriptive research design using convenience sampling with structured questionnaire for surveying respondents has been utilized for the study. The results of the study provide important insights that online payment platform players and service providers can consider for developing effective marketing strategies to encourage greater adoption of online payment modes among the urban Indian adults in Bengaluru, an important cosmopolitan city in the emerging market economy of the world. © 2019, Institute of Advanced Scientific Research, Inc. All rights reserved.