An Analysis of Growth Pattern Of Cashless Transaction System An Evidence From Lucknow City

Abstract

The cashless transaction system in India has witnessed a phenomenal growth over last newlinefew years. The introduction of advanced technology based systems in banking newlineservices world over resulted in great changes in terms of how financial institutions newlineoffer services to customers. Use of Cashless Transaction System has come as a form newlineof convenience to customer. Evolution of electronic banking system has brought newlinemany changes in the banking system and influenced customer for the use of Cashless newlineTransaction System. Present piece of research work has been taken up to analyze the newlinepattern of Cashless Transaction System, their effect on customer trust and other newlinerelated issues like consumer confidence, factor promoting cashless transaction system newlineand problem faced by consumer in using cashless transaction system. Exploratory as newlinewell as descriptive research was used for present study. In a survey of 500 newlinerespondents conveniently selected from Lucknow city, researcher has tried to analyze newlinethe consumer behavior towards cashless transaction system, the problem faced in newlinecashless transaction system and important factors influencing them towards cashless newlinetransaction. Researcher has identified some of the factors were identified like Safety newlineRelated Issue, Fear Related Issue, Cash Holding Motive, Convenience, consumer newlineAwareness, Transaction Cost and Utility Motives using factor analysis. With the help newlineof different statistical test, the interrelatedness of various factors and proposed newlinehypothesis was tested. For making the Cashless transaction more effective, there is a need to educate consumer about the differentiating factors of the Cashless Transaction newlineSystem. Some of the suggestions and conclusions based on the study were also drawn. newline newline