Factors Enabling the Shift from Unorganized to Organized Retail Sector through Mobile Payments

Abstract

In the 21st century, smartphones and the internet have become an integral part of life. It is noteworthy that the future is full of technologydriven payment systems; therefore, the mobile payment system is the next big thing in this arena. This study highlights the factors influencing the consumers to accept or adopt the mobile payments system. This study attempts to study elements having a role in shifting consumers from unorganized to organized retail sector through the Mobile Payment System (MPS). A questionnaire was prepared using Google forms to collect data, and it was shared using WhatsApp and e-mail with the target respondents. In this study, 103 responses were analyzed and collected before India’s first lockdown. The confirmatory factor analysis was used, and various factors were identified. It is found that trust, privacy and security issues are still restricting the user to adopt the online mode of payment; hence TAM model stands valid. This study attempts to examine the influence of MPS on unorganized retailing.