The IUP Journal of Management Research
Problems and Challenges in Adoption of Cashless Payment Mode by Online Consumers

Article Details
Pub. Date : April, 2021
Product Name : The IUP Journal of Management Research
Product Type : Article
Product Code : IJMR20421
Author Name : Srishti and Mahender Yadav
Availability : YES
Subject/Domain : Arts & Humanities
Download Format : PDF Format
No. of Pages : 17



With the growth of the Internet, the scope for online shopping has also grown tremendously. But growth of online shopping has made the transferring of money online an important issue for the potential customers. This study is conducted with the objective to find out the problems and challenges of restricting online consumers to adopt cashless payment mode. Data from 600 respondents were collected by using a structured questionnaire. By applying t-Test and ANOVA, it was found that demographic variables, except gender, have no significant effect on adoption of cashless payment mode by online consumers. By applying factor analysis, five factors, namely, complex system, perceived risk and lack of trust, habit of cash payments, self-inefficacy and security issues, were extracted and by applying Multiple Regression Analysis, it was found that all these factors significantly affect the adoption of cashless payment mode by the online consumers and restrict consumers to pay online for their online purchases.


Internet has become an important source of information for consumers since the explosion of World Wide Web (www) in the 1990s. Web search tools can be used by customers to search for product information (prices, design, style and reviews, etc.) even if purchase is not made online (Kumar et al., 2004-2005).

Internet has affected the daily lives of persons to a huge extent as compared to earlier times. It has shifted daily activities to virtual environment from concrete circumstances (Frost et al., 2010; and Hsieh et al., 2013). Internet-enabled devices' various applications and services and increasing use of smartphones have made the access to Internet very easy and fruitful, which in turn has led to an enormous growth in online shopping (Vazquez and Xu, 2009; and Limbu et al., 2012). Traditional


Upload Articles
Click here to upload your Articles



Articles of the Month
ISBN: 978-81-314-2793-4
Price: ₹250
Payment by D.D. favouring
"ICFAI A/c IUP", Hyderabad

Reach us at
Tel: +91 8498843633