Consumer E-banking and Credit Card Usage: Imperial College London

This report presents a study on consumer awareness and usage of e-banking transactions, specifically focusing on credit card usage among students at Imperial College London. The research employs a combination of purposive and random sampling, utilizing questionnaires to gather primary data. Key findings highlight the impact of security and privacy concerns on e-banking awareness, the influence of customer attitudes on credit card usage, and the motivating factors behind e-banking adoption, such as 24-hour service, price incentives, and remote access. The report concludes with recommendations for banking firms to enhance transparency, provide comprehensive information, and prioritize customer security. Furthermore, it suggests avenues for future research in related areas of e-banking services. This assignment, available on Desklib, provides valuable insights into consumer behavior within the financial sector.

TASK 4
Consumer awareness and usage of E-banking transactions - A study on
consumer spending via credit cards – Perspectives from Imperial
College of London

Objectives of the study
 To examine the awareness of e-banking and use of credit cards among the students
 To measure the customer satisfaction in e-banking transactions
 To identify which age group of people are using these kind of services the most
 To know the reasons behind not using of e-banking services among the students

Research Methods
 Sampling –For this research combination of purposive and random sampling has been applied. It is suitable
because it helps the researcher in selecting the sample on the basis of convenience and interest. This research
work demands collection of primary data from students of Imperial College of London only
 Questionnaire –.This approach is suitable because it helps in collecting large volume of relevant and ethical
data.

Findings from questionnaire process
 Awareness of e-banking services

Use of credit cards

Reasons for use

Nature of e-banking services

Conclusion
 Security and privacy were the factors responsible for non-awareness among students about e-commerce
 The use of credit card depends upon the attitude and behaviour of the customers
 24 hour service, price incentive and remote access are the factors which motivate people to use e-banking.

Recommendations
 Banking firms should focus on making e-banking and credit card services more transparent and concise for
the customers in order to remove hesitation from their minds
 Correct knowledge and information about the use of these services should be spread so that future challenges
associated with it can be avoided
 The major factor which affects consumer’s decision is security. The bank companies should make efforts to
make sure their customers that their money is safe and protected
 It is recommended to other researchers that they can perform research on other subjects related to e-banking
services.