Factors Influencing Adoption of Digital Payments: A PLS  SEM and ANN Approach

Vasant  Pandey; Gyaneshwar Singh  Kushwaha; Shuchi  Srivastava

doi:10.21844/16202116207

Vasant Pandey Research Scholar, Maulana Azad National Institute of Technology Bhopal, Madhya Pradesh, India
Gyaneshwar Singh Kushwaha Associate Professor, Maulana Azad National Institute of Technology Bhopal, Madhya Pradesh, India
Shuchi Srivastava Professor, Maulana Azad National Institute of Technology Bhopal, Madhya Pradesh, India

DOI: https://doi.org/10.21844/16202116207

Keywords: Digital payments, perceived ease of use, perceived usefulness, facilitating conditions, social norms

Abstract

This study aims to examine the factors that affect digital payment adoption. In addition to this, it also identifies the factors that will help to increase the adoption once the maturity is attained. The current study demonstrates a key driver of digital payment. The research is conclusive in nature. It utilizes a hybrid approach combining PLS SEM and ANN to illustrate the impact of various factors on the adoption of digital payments. The data is collected through a structured questionnaire. Warp PLS 7.0 is used for Structured Equation Modelling as a statistical tool analysis of the data. The findings of this study indicate that the facilitating conditions are the most influencing factor of digital payment adoption. Apart from this, social norms were identified as the factor that will influence the adoption of digital payment when there will be a fall in its adoption and usage.