Foreign Literature

Customer Satisfaction through Online payments

The present research pioneers in studying the relationship between users and current

mobile payment solutions and offers guidelines for developers in creating and updating their

products, and merchants in choosing mobile payment solutions that suit their businesses.

The present research has extended the existing understanding of customer satisfaction

and dissatisfaction sources with respect to technology. While satisfaction determinants with

technological products were widely discussed previously , none of these works reached mobile

payments. Overall, it has been found that the main sources of satisfaction in this context are

convenience, ability to deliver the expected function, ability to guarantee secure transactions and

function when other payment methods fail. Overall, the sources observed are similar to the

determinants reported for other technology based services , while some mobile payment specific

sources, such as payment process speed, have also been reported herein.

In addition, the positive perception of the users should motivate merchants to accept

mobile payment services.

Maia (2020) concluded that most of the respondents reported a high satisfaction level in

e-payment. Considerable percentage of the respondents are satisfied with the e-payment system

in Udupi Taluk. Some respondents are less satisfied with the e-payment system, it is

recommended that there should be an improvement in the e-payment system. Both male and

female are satisfied with the e-payment services.

salesperson selling behaviors positively affect customers’ satisfaction, and Utilitarian value is

considered to be an assessment of all the utilitarian costs and benefits. Hedonic value refers to

the emotions about products, services and activities generated on the basis of hedonic activities,

focusing on the experiences of the product purchasing process. Therefore, the perceived value

which comprises hedonic value and utilitarian value and salesperson selling behavior has

positively affected customers’ satisfaction. In the part of customer satisfaction, this study finds

that consumers’ utilitarian value, hedonic value and salesperson selling behavior have positive

impacts on customer satisfaction. This shows that customers tend to attach more importance to

the acquisition of immediate benefits.

Many customers think that they will feel the existence of individual uniqueness at the

moment of mobile payment, making them feel different from others, which will lead to the

improvement of customer satisfaction. When consumers feel the convenience and happiness

brought on by mobile payment, or feel the good performance of salesmen in the operation

process, they will have greater intention to use mobile payment during consumption.

Therefore, operators can make use of the utilitarian value or hedonic value of mobile payment to

create topics, encourage consumers to use mobile payment in consumption, and make use of the

explanations of salesmen to make consumers more willing to use mobile payment.

In the research of the effect of electronic payment on customer satisfaction, it shows that

despite the many advantages of online banking, people still consider it as an alternative for

analyzing their bank records. Going through the survey the main problem lies that still customers

have a fear of hacking of accounts and thus do not go for internet banking. Banks are trying their
level best by providing the best security options to the customer from opening an internet bank

account.

Electronic payment system is one of the modern methods to complete transactions.

(Alhammadi and Tariq, 2020). It depends on customer satisfaction for the success of e-payment.

In the findings of their study on the impact of quality e-payment systems on customer

satisfaction, it illustrates that the service quality of e-payment had a positive impact on e-

payment users’ satisfaction.

Based on the study of Impact of Electronic Payment System on Customer Satisfaction

among Undergraduate Students, they concluded that the ease, flexibility, reliability,

accessibility , cost effectiveness, safety and security in electronic payment in Nigeria, the internet

and mobile banking has a strong impact on customer satisfaction in Nigeria. D. Mathur (2017)

in his study “ A survey of Awareness about Security in E-payment System, he said that peoples

are not so aware about the security concern while making e-payments. There is a need to have

awareness programs by the various agencies in this regard.

Mobile payment has been more and more popular among young people and used by

consumers. It is mainly applied to online and offline payment such as two-dimensional barcode

shopping, payment by public transportation, and game of grabbing red envelopes. (Lin et al.,

2021). In this study, convenience, security, credibility and consumer satisfaction are being

investigated.

In the study of the determinants of electronic payment system usage from consumers’

perspective, it showed that both technical protection and personal past experience are important

determinants of perceived security. Perceived security and perceived trust has been important

determinants of Electronic Payment Satisfaction. However, the study finds no evidence of a

trust and security in EPS use; it could be that consumers may find transaction procedures but also

the convenience of procedures for EPS.

Yaakub etal., (2016), concluded that there are lot of choices in terms of online or offline

payment methods avaia to Zakat payers in Malaysia. It is revealed that internet banking,

bank cards and credit cards are the most preferred e-payment system among institutions’

customers. Furthermore, e-payment can be considered as one of the factors which contribute to

the boost of Zakat collection in Malaysia and other non-profit organizations since e-payment

offers various benefits to both the payers and the recipient.

Comparison of Customer Satisfaction through Online Payment Applications

According to the study of Wenjing Yang (2017), online payment systems are popular. All

the respondents have experience on online payment. Debit Card, and Net bank are the most

popular online payment systems. The second one is third-party online payment systems. In

China, AliPay is the top online payment system and Paypal is more popular in Europe.

Convenience and the quickness of transactions are the two main factors that contribute to an

online payment system. Having a secure, reliable and trustworthy online payment environment is

important. Malware attacks and financial issues are the main challenges of online payment.

Technical problems and vulnerability to cyber-crime are also some of the main pros of using an

online payment system for your bank account.

Author ( Khan, et al, 2017) concludes that online payment methods are increasingly

being used for making daily online as well as onsite purchases. Advances in technology

supporting mobile transactions and making them more convenient and transparent is developing
trust among customers. A study concludes that a better integration of online payment systems

with the present financial and telecommunication infrastructure is necessary.

According to Bauman and Bachmann (2017, p. 68), the consumer "expects the website to

be a reliable means for the transaction and the vendor to behave in an honest and professional

manner when fulfilling the purchase request”. The described situation contains the concept of

trust, which includes three different elements: the trustor and trustee, the element of

vulnerability, and a specific context since trust is dependent on the situation

Consumers "expect the website to be a dependable means of transaction, and the vendor

to operate in an honest and professional manner when fulfilling the purchase request," according

to Bauman and Bachmann (2017, p. 68). Because the respondents expressed a need for the

transaction to be completed appropriately and a need for transparency became evident, the

analyzed primary data agree with Bauman and Bachman (2017). These elements help to build

consumer trust and are also linked to internet security. Although there is no human involvement

with online payments, they are nevertheless built on a system that contains trust traits seen in

human interaction. A sense of vulnerability, uncertainty, and risk is found in the interviewees'

answers when purchasing from unknown websites, especially foreign ones that are located

outside of the European Union.

In the study of “The Effects of E-payment Methods on Online Purchasing Cancellation

which focus the consumers’ perception of trust and security in e-payment.(Antinoja & Scherling,

2019), around 45% of Swedish consumers canceled their online purchase in 2018 because of

high delivery fees and issues concerning payments. The Technology Acceptance Model 3 and its

determinants perceived usefulness and perceived ease of use, as well as how they contribute to

the e-payment method decision, are the topic of this study. Furthermore, the importance of online
trust and security in relation to purchase cancellations owing to trust and security difficulties in

e-payment methods is investigated.

For Swedish millennials, both online trust and online security are the most important

determinants when evaluating whether or not the e-payment method could be used. When

deciding between e-payment systems, perceived ease of use appeared to be more important.

Furthermore, decisions are made depending on which e-payment method is the most secure,

trustworthy, and easy to use. The presence of those determinants increases perceived usefulness

as well. When making domestic purchases online, perceived ease of use and perceived

usefulness appear to be more important. If the purchase is done from a foreign website, however,

trust and security are prioritized.

Divya (2016) highlighted the importance of trust among the customers as it is one of the

crucial factors that increase the usage of online payment and it provides the customers a sense of

security while doing their paymen t. Older users are more susceptible to the usage of online

payment since there is a feeling that there would be insecurity while doing the payment. If trust

is created among the customers through improving the authentication process and privacy, they

would feel that the online payment system would be more reliable.

Dustan and Gurler (2016) found the factors affecting the adoption of Mobile Payment

Systems and found out how these factors affect the intention to use payment systems. As a result,

it was revealed that Perceived Trust, Perceived Mobility and Attitude factors have a positive

effect on the adoption of Mobile Payment Systems. Furthermore, the study did not detect any

significant evidence for Perceived Usefulness and Perceived Ease of Use factors on the adoption

of MPS. Another set of findings were the positive effect of reputation and the negative effect of

environmental risk on Perceived Trust factor.

to multiple planned and unplanned events (Kar, 2020). The study established that cost,

usefulness, trust, social influence, credibility, information privacy and responsiveness factors

appear to be more important in increasing the usage satisfaction of mobile services. The adoption

rate of mobile payment services will increase if these factors are addressed perfectly by the

mobile payment services. S Fatonah et al., (2018) concluded that there is a need for more

research on how to create trust in electronic payment systems, customer interest in using

electronic payment systems and about the importance of security. Future research needs to

address several issues with regard to several issues, especially those concerning future electronic

payments. Liu et al. (2019) conducted a meta-analysis to identify the factors affecting

consumer behaviour towards mobile payment. Their meta-analysis was based on 61 papers

published between 2008–2017.

This study employs the cross sectional survey research design to capture the entire 23

staffs of College of Education Minna Microfinance Bank as the sample size of the study, and the

descriptive and inferential statistics to examine the impact of Electronic-Payment Systems on the

financial performance of Microfinance Banks and Institutions in Niger state, Nigeria. In addition,

it was discovered that ATM facilities, Internet-based e-payment systems, e-payment cards , and

mobile banking platforms have a significant positive impact on the financial performance of

COE-Minna microfinance bank.

Cashless financial transactions were favoured due to the features associated. It is shown

that cash is more effective personal budgeting due to the psychological attachment and increased

value associated with it. (Davies, 2017). Cashless transactions would not be changed as a
primary method due to routine and general convenience. It was concluded that student's attitude

and perception of cashless financial transactions are positive in nature.

The International Journal of Academic Research in Business and Social Science (2017)

conducted a study of the relationship between customer satisfaction and customer trust on

customer loyalty. The furious competition among banks drives owners to seek out strategies to

ensure market viability and achieve a competitive advantage even in the face of competition. As

a result, the focus on customer loyalty has grown more than ever before, attracting the attention

of researchers en route to identifying the antecedents of consumer loyalty. The relationship

between customer satisfaction and trust on customer loyalty was investigated in the commercial

banks of Sri Lanka. Customer satisfaction has been highlighted as a significant factor in

determining customer loyalty. Furthermore, customer happiness influenced customer trust,

proving that customer pleasure is an antecedent of customer trust. Furthermore, through

consumer trust, an indirect association between customer happiness and loyalty was discovered.

Future research may be replicated in various service environments

According to Journal of Undergraduate Social Science and Technology (2020) in the

article `` Customer satisfaction matters” (Basari, M.A.M.D & Shamsudin M, F) customers are

vital to businesses because they are profit generators, the basis of business strategy, and brand

ambassadors. Because customers play such an essential part in the business, it is critical for the

company to maintain customer satisfaction while also cultivating brand loyalty.Customer

satisfaction is vital for a business since it has a favorable impact on the company's financial

condition and public reputation. As a result, it is critical for a business to ensure customer

satisfaction by providing the greatest product, positive service experiences, and effective post-

purchase solutions. Customer loyalty, on the other hand, should be the priority.Customer loyalty,
on the other hand, should be a company's long-term goal. A devoted consumer can help a

company establish its brand and extend its operations.

According to the study of Tella and Abdulmumin (2015), respondents are satisfied with

the e-payment system for the payment of salaries at the University of Ilorin. However, there is a

need to improve the e-payment system so that all and sundry will be satisfied.