Consumer Benefits Using Mobile Payments

Added on - 31 May 2021

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Running head: CONSUMER BENEFITS USING MOBILE PAYMENTSConsumer Benefits using Mobile PaymentsName of Student:Name of University:Author’s Note:
1CONSUMER BENEFITS USING MOBILE PAYMENTSAbstract:The aim of this report is to analyse the collected data from a total of 30 respondents which havebeen collected from them regarding their mobile payment habits. The study aims to understandthe customer trends and their preferences with respect to the responses they have provided to thequestions. The report describes the methodology of the data collection and it also provides therelevant conclusions with respect to each of the respondent’s answers. The conclusion based onthe findings is also stated.
2CONSUMER BENEFITS USING MOBILE PAYMENTSTable of ContentsIntroduction:....................................................................................................................................3Advantages:.....................................................................................................................................3Literature Review:...........................................................................................................................4Methodology:...................................................................................................................................5Findings:..........................................................................................................................................5Findings for each of the questions asked during the survey:.........................................................10Results:..........................................................................................................................................14Gaps in Literature:.........................................................................................................................16Conclusion:....................................................................................................................................16Bibliography:.................................................................................................................................17
3CONSUMER BENEFITS USING MOBILE PAYMENTSIntroduction:Mobile payment systems are basically those systems which help the consumers in payingwith the help of their mobile devices which can be of different categories. There are severalbenefits of the payment providers in case of mobile payments. There is the need for fast paymentis due to the fast paced life at present and the convenience which it provides to the users. Theutility of mobile payments is growing at a constant rate as it allows the users to pay on the go andthat is irrespective of where the users are(Mallat, 2007).It is ensured that the providers of payments and the designers of applications make itextremely easy for the users to make payments. There has been the constant evolution of thepayment industry and the largest challenge for the industry is to meet the growing needs of theuser and the demands and expectations of the specific person (De Kerviler, Demoulin & Zidda,2016).Advantages:The most important facility of the mobile payment systems is that of convenience as thesystem of payment is made easier and it is not complicated. It is possible for individuals to makepayments anytime with the help of their mobile devices which are to be connected to the internet.The customers have the facility of seamlessly purchasing products or services which do not haveto be handed over physically or no card has to be swiped. This has led to the eagerness amongthe consumers for quick, in and out experiences which are concerned with that of shopping(Hossain & Hossain, 2015).
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