Evaluation and Assessment of the Impact of the Adoption of Digital Payment in India through the Technology Acceptance Model (TAM)

Abstract

India's internet and mobile phone usage has skyrocketed over the last decade. As the number of people using the internet and mobile devices grows, online payment methods for the general public are becoming more streamlined thanks to government initiatives like Digital India. As a result, the number of digital payment implementations is rapidly increasing. Automated Technologies Digital payment refers to a customer using a credit card, internet banking, or mobile banking application on a smart phone to pay for goods and services at a point of sale. The perception around digital payments has a significant impact on their adoption rate. The researchers used a structured questionnaire to collect data on people's attitudes towards digital payments. Research was conducted among 206 respondents regarding the provision of primary data. This research used the Technology Acceptance Model (TAM) to examine the prevalence of digital payment uptake across India's population. The research technique included validity and reliability tests, confirmatory factor analysis, KMO and Bartlett's analyses, and a review of common method bias. Based on the results' high levels of validity, reliability, and model fit, SPSS can be used to test hypotheses effectively. The findings of this study make it clear that the technological acceptance model may provide helpful insights into the underlying factors that drive people to use a digital payment evaluation system.