IPE Journal of Management

ISSN 2249-9040 Volume 14, No 18, January-June 2024

Awareness, Preference, and Perception of Mobile Payment Systems among Gen Z in

Gujarat: An Analytical Study

Dr.Fatemabibi Abubaker Salehbhai

[M. Com., M. Phil., GSET, Ph. D.]
Assistant Professor
P P Savani University, Surat

Abstract
Digital payment infrastructure has experienced remarkable growth in India, revolutionizing
the nation's payments landscape. Mobile payments have become a crucial component of the
contemporary digital environment, influencing nearly every aspect of life, from daily routines
to business and finance. These payments allow users to conduct transactions anytime,
anywhere, without the need for physical cash or cards. Gen Z, the first generation with direct
access to digital technology from childhood, has been shaped by smartphones, social media,
and the internet. They quickly adapt to new digital platforms and comfortably use various
devices for communication, entertainment, and information access. This study aims to
examine Gen Z's awareness of mobile payments, identify their most preferred mobile
payment applications, explore the factors influencing their use of mobile payments, and
understand their perceptions of these services. Both primary and secondary data were utilized
in the study. Primary data were gathered through structured questionnaires and personal
interviews with Gen Z individuals from Gujarat. The study sample includes both users (185
respondents) and non-users (102 respondents) of mobile payments. Data analysis involved
descriptive statistics and frequency analysis. The findings indicate that most Gen Z
respondents view mobile payment systems as more efficient and user-friendly than traditional
payment methods. Their strong preference is due to the benefits, ease of use, and efficiency
provided by these systems. However, security concerns remain significant, emphasizing the
need for robust security measures to enhance trust and further adoption. Mobile payment
providers should invest in advanced security technologies and implement multi-factor
authentication systems to address user concerns and build trust. Additionally, they should
offer customer support to help users resolve issues.

Keywords: -Mobile payment, Gen Z, Digital Payment, Security, Trust, Ease of Use.

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 Awareness, Preference, and Perception of Mobile Payment Systems among Gen Z in Gujarat:

An Analytical Study

Introduction
Digital payment infrastructure has seen phenomenal growth in India and brought an
unbelievable change to the nation’s payments landscape.As it demonstrates, there has been a
dramatic change in the financial transaction model in Favor of digital payments and
providing an opportunity for establishing a national or global modern digital economy that
primarily emphasizes delivery on promoting cashless.There has been a boom-like increase in
the number of digital payment transactions over the recent couple of years. User-friendly and
convenient digital payment methods such as Mobile Payments, Bharat Interface for Money –
Unified Payments Interface (BHIM-UPI), IMPS (Immediate Payment Service), Prepaid
Payment Instruments PPI, and Aadhaar-enabled. India has the world’s largest number of
transactions in digital payments, 89.5 million transactions were recorded with UPI emerging
as a revolutionary product. According to the information, India made up 46% of all real-time
payments. However, Brazil came second followed by China, Thailand, and South Korea. As
per the research report by 2025, UPI and mobile transactions are predicted to reach around a
billion per day and account for about ninety percent of all retail payments.

Mobile payments has been an essential feature in the recent digital environment, affecting
almost every aspect of life from personal routine to business and finance. It enables users to
transact anytime, anywhere without the need for physical cash or cards. Transactions are
completed in just a few seconds, cutting down waiting times at checkout counters and making
the entire payment process more efficient. Mobile payments drive financial inclusion by
offering individuals access to digital financial services who do not have an easy reach of
traditional banking infrastructure. This is especially important in areas where banking
facilities are less available. The security of mobile payment helps safeguard the financial
information of users and minimize the potential for fraud compared to traditional payment
systems. With the option of using mobile payments, people will not need to carry so much
cash and as many plastic cards with them. This mitigates the risk of loss or theft and
eliminates the need for people to carry heavy purses. To encourage users, many mobile
payment apps participate in loyalty programs where customers can get rewards, discounts,
and even cash back from their transactions. For businesses, it makes it easy to reduce costs
and get better cash flow. Hence, businessmen manage financial activity more efficiently and
are less dependent on physical cash. One significant issue that has come up in recent times is
the growing popularity of contactless payments, often made possible through mobile devices
and especially during public health concerns such as the COVID-19 pandemic.

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ISSN 2249-9040 Volume 14, No 18, January-June 2024

Contactless payments help reduce physical contact between individuals, thus creating cleaner
and safer conditions for the operation of transactions. Innovations such as blockchain
technology and cryptocurrencies keep shaping the mobile payment landscape, while the
Internet of Things is also tipped to play a vital role in driving it forward. It is necessary for
businesses and individuals as well to stay updated on these trends.

This makes Gen Z (short for Generation Z ) the generation that follows Millennial Foliage.
Although there is no universally accepted date range for the years one was born to be a part
of this generation, common consensus allows them to fall across roughly between mid- 1990s
and early in the first decade of the millennium. Gen Z is the first generation of people who
have had direct access to digital technology since their childhood and influenced by
smartphones, social media, and well internet since their birth. They quickly catch up with
new digital platforms and feel comfortable using different devices for communication,
entertainment, and receiving information. They tend to support social justice causes and are
aware of matters involving equal opportunity or inclusivity. They can have access to huge
information online and they tend more likely to consider a variety of sources in making their
imaginations. They appreciate genuineness and aren’t afraid to reveal their personality. They
tend to be used to getting information fast and are likely more comfortable with short visual
stuff. They express that they are more likely to prioritize savings, look for value in purchases
as well as show interest in financial education. Gen Z is frequently passionate about
ecological problems and efforts in sustainability. Gen Z prefers communication through
images and video clips as opposed to textual communication.

This study attempts to find out the awareness and perception of Gen Z of Gujarat towards
mobile payments and find out the influenced factors. The results may contribute to banking
institutions, online transaction facility providers, and software developer firms in
understanding the concerns of Gen Z when using mobile payment systems.

Literature review
Alhanoof Fahad Alyabes, Othman Alsalloum(2018)find out the factors affecting the
consumers’ perception of electronic payment in Saudi Arabia. They concluded that benefit,
ease of use, and self-efficacy influenced Saudi consumers’ perception of e-payment systems,
while trust and security were not significantly associated with consumers’ perception of e-
payment.

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 Awareness, Preference, and Perception of Mobile Payment Systems among Gen Z in Gujarat:

An Analytical Study

Sanaz Zarrin Kafsh(2015), conducted a study on developing a consumer adoption model on

mobile wallet in Canada, by taking a sample of 530 respondents through convenience
sampling and applying the Partial Least Square model. They identified the factors that
influence the consumer’s adoption of mobile wallets. The technology acceptance model
(TAM) & and innovation diffusion theory (IDT) were applied to this study. They concluded
that perceived usage, perceived ease of use & and perceived security in predicting the
adoption of mobile wallets had correlations among them.

Chawla & Joshi, (2019) found out a comprehensive empirical analysis of the factors
influencing consumer attitudes and intentions to use mobile wallets, with a specific focus on
Indian users. By integrating the Technology Acceptance Model (TAM) and the Unified
Theory of Acceptance and Use of Technology (UTAUT), the authors present a
multidisciplinary model enriched by extensive literature review and focus group discussions.
The study's methodology is robust, employing a nationwide primary survey with a sizable
sample of 744 respondents, and utilizing PLS-SEM to validate 17 hypotheses. The findings
underscore the significant roles of perceived ease of use, perceived usefulness, trust, security,
facilitating conditions, and lifestyle compatibility in shaping consumer attitudes and
intentions towards mobile wallet adoption. Notably, the research highlights the critical
influence of ease of use on usefulness and trust, and the pivotal role of security and trust in
fostering consumer confidence. While the study's urban-centric sample and cross-sectional
nature are limitations, its implications for developing secure and reliable mobile payment
infrastructures are practical and timely.

Leong et al., (2020) offers a novel exploration into the often-overlooked area of innovation
resistance in the context of mobile wallets (m-wallets), addressing a gap in existing literature
that predominantly focuses on the adoption of new technologies. Utilizing Innovation
Resistance Theory (IRT) and an advanced methodological framework combining Structural
Equation Modelling (SEM) with Artificial Neural Networks (ANN), the research effectively
extends IRT by incorporating socio-demographics and perceived novelty. The findings reveal
the complex, non-compensatory, and nonlinear nature of the predictors of m-wallet
resistance, highlighting the significant influence of education, income, usage barriers, risk
barriers, value barriers, tradition barriers, and perceived novelty. The ANN model
demonstrates impressive predictive power, accurately forecasting m-wallet innovation
resistance with a 76.4% accuracy rate.

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This study provides valuable insights for both scholars and practitioners, emphasizing the
importance of addressing these resistance factors to enhance the adoption of m-wallets. The
discussion on theoretical and practical implications is particularly useful, offering strategies
to mitigate resistance and promote wider acceptance of m-wallet technology

Singh et al., (2020) examined a comprehensive analysis of the factors influencing the
adoption and satisfaction with mobile wallet services, using the Technology Acceptance
Model (TAM) and Unified Theory of Acceptance and Use of Technology (UTAUT2) as
frameworks. By developing a conceptual model and analyzing responses from 206
participants in India, the research highlights key determinants such as ease of use, usefulness,
perceived risk, and attitude, all of which significantly impact users' intentions to use mobile
wallets. Moreover, the study uniquely examines the moderating effects of innovativeness,
stress to use, and social influence on users' perceived satisfaction and their likelihood to
recommend mobile wallet services. The findings demonstrate that stress and social influence
notably moderate perceived satisfaction and recommendations, underscoring the
psychological and social dimensions of technology acceptance. Additionally, it provides
practical implications for practitioners by identifying crucial factors that influence user
decisions, thereby helping to enhance user satisfaction and promote the adoption of mobile
wallet services

Shin, (2009) presented to validate and extend the Unified Theory of Acceptance and Use of
Technology (UTAUT) model in the context of mobile payment systems, specifically focusing
on constructs such as security, trust, social influence, and self-efficacy. By utilizing structural
equation modeling (SEM), the researchers constructed a predictive model to understand
attitudes towards mobile wallets among consumers. Key findings from the study highlight the
classical factors of technology acceptance—perceived usefulness and ease of use—as crucial
determinants influencing users' attitudes and intentions to adopt mobile payment systems.
This underscores the foundational role of practical utility and user-friendly experiences in
shaping positive perceptions towards new technologies.

Nur, Triasesiarta&Panggabean, Rosinta. (2021) examines the factors influencing the adoption
of mobile payments among Generation Z, the generation most engaged with internet
technology and representing the future of our society.

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 Awareness, Preference, and Perception of Mobile Payment Systems among Gen Z in Gujarat:

An Analytical Study

The study utilizes the Extended Unified Theory of Acceptance and Use of Technology
(UTAUT) model, sampling 100 Generation Z respondents from Jakarta and surrounding
areas (JABODETABEK). The data were analyzed using the Partial Least Square-Structural
Equation Model (PLS-SEM). The findings indicate that factors such as Performance
Expectancy, Social Influences, Facilitating Conditions, Perceived Enjoyment, and Trust
significantly impact the Behavioral Intention to use mobile payments for online transactions.
Effort Expectancy, however, does not show a significant effect. This study provides evidence
on the factors influencing Generation Z's intention to adopt mobile payment technology for
online purchases, using the extended UTAUT model. It extends the UTAUT framework and
applies it to explore the Behavioral Intention of Generation Z in adopting mobile payment
technology.

The study conducted by Sonal, Kumar, Swain, and Jom (2018) explores the awareness levels
of mobile payment systems among consumers in Ranchi and Kolkata, reflecting on the
evolving mobile payment landscape in India. With the backdrop of incremental growth in
India's mobile payment sector and governmental initiatives aimed at promoting a cashless
economy, such as the international launches of BHIM, RuPay, and SBI app in Singapore, the
research aims to discern any disparities in consumer awareness between Ranchi and Kolkata.
By employing a survey method with questionnaires distributed among 100 customers from
each city, the study sought to gauge differences in awareness and understanding of mobile
payment systems. MS Excel was utilized for data analysis, likely facilitating comparisons and
statistical evaluations between the two cities. The findings from this comparative study are
expected to provide valuable insights into regional variations in consumer knowledge and
readiness to adopt mobile payment technologies, thereby informing strategies for promoting
digital financial inclusivity across different urban contexts in India.

Gohil, S., Vinchhi, K., &Yewale, N. (2023) investigates the burgeoning popularity of mobile
payments in India, driven by increasing consumer familiarity with technology and the
widespread adoption of contactless transactions by merchants. This descriptive research
employs survey and questionnaire methods to gather data, focusing on understanding the
influence of smartphones on mobile payment adoption, evaluating consumer acceptability,
and examining how age demographics shape preferences for online payment methods.
Statistical tools such as the Chi-Square test, case processing techniques, and comprehensive
data analysis are employed to scrutinize the relationships between these variables, providing
empirical insights into the evolving dynamics of digital payment adoption in India.

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By elucidating the factors influencing mobile payment acceptance and usage patterns across
different age groups, the study aims to offer valuable insights for policymakers, businesses,
and stakeholders seeking to foster digital financial inclusion and enhance the efficacy of
cashless initiatives.

Objectives
 To find out the awareness of Gen Z towards mobile payments.
 To identify the most preferred mobile payments application by Gen Z.
 To find out the factors affecting the use of mobile payments.
 To find out the Gen Z consumer perception towards mobile payments.

Hypothesis

H0: -Gen Z does not perceive mobile payment systems as more efficient and user-friendly
compared to traditional payment methods.

H1: - Gen Z perceives mobile payment systems as more efficient and user-friendly compared
to traditional payment methods.
Data collection
Primary data and secondary data have been considered for this study. The primary data have
been collected through structured questionnaires and personnel interviews of the Gen Z of
Gujarat. Secondary data have been collected from official websites and published reports of
various mobile wallet companies and the Indian Government.

Sample size and sampling method

Random Sampling method is considered for this study. The sample size is 287. The sample of
the study consists of both users (185 respondents) and non-users(102 respondents) of mobile
payment.

Tools of the study

Descriptive statistics and Frequency have been considered for data analysis.

Limitations of the study

● Primary data have been considered for this study.
● The study is limited to onlyGen Z of Gujarat.
● Gen Z perception changes from time to time with the advancement and knowledge of technology.

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An Analytical Study

Data analysis

This study targeted 287 respondents based on the convenience sampling technique for Gen Z.
Table 1
Demographic profile
Variables Frequency %
Male 196 68.3
Gender
Female 91 31.7
Less than 18 47 16.4
Age 18 – 22 205 71.4
22 – 27 35 12.2
H. S. C. 214 74.56
Graduate 45 15.68
Education
Post Graduate 23 8.01
Doctorate 5 1.74
Student 255 88.85
Business 5 1.74
Profession Job 18 6.27
Profession 8 2.79
House wife 1 0.35
Less than 5000 227 79.1
5000 – 10,000 17 5.9
Monthly Income 10,000 – 15,000 3 1
15,000 – 20,000 6 2.1
More than 20000 34 11.8
Use of Mobile Yes 185 64.5
Payment System No 102 35.5
Daily 117 40.77
Frequency of Using At least once a week 16 5.6
Mobile Payment At least once a month 49 17.1
Never 105 36.59%

Table 1 reveals that most of the respondents are males at 68.3%, while females represent
31.7% of the sample.The respondents in the less than 18 years (12-18) age group represent
around 16.4%%, 71.4%% of the respondents were in the 18–22 years category and12.2% of
the respondents were aged between 22 – 27 years. Apparently, respondents who hold a
H.S.C. represent 74.66%; respondents who completed bachelor degree represent around
15.68%, and those holding a post graduate were 8.01%. Further, Table 1 shows that among
the respondents, 88.85% were students, highlighting a significant majority. Additionally,
6.27% of the students were also employed, a smaller segment, 1.74%, were engaged in their
own businesses.

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The remaining respondents were occupied with various other professional pursuits. The
survey data reveals a range of monthly incomes among respondents, with 79.1% earning less
than 5000, 5.9% earning between 5000 and 10,000, 1% earning between 10,000 and 15,000,
2.1% earning between 15,000 and 20,000, and 11.8% earning more than 20,000. Regarding
the use of mobile payment systems, 64.5% of respondents use them, while 35.5% do not. In
terms of frequency, 40.77% use mobile payments daily, 5.6% use them at least once a week,
17.1% use them at least once a month, and 36.59% never use them.
Table 2
Mobile payment application
Name of the Application Frequency Percentage
Paytm 103 21.59
Amazon pay 23 4.82
UPI 97 20.34
PhonePe 70 14.67
Google pay 137 28.72
Mobikwik 15 3.14
Jio money 15 3.14
Free charge 17 3.56
Total consumer of
477
application
Total respondents 185

Table 2 indicates the usage patterns of numerous mobile payment applications among 185
respondents, highlighting their possibilities and the relative reputation of each app. Among
the respondents, the maximum regularly used application is Google Pay, accounting for
28.72% of the utilization with 137 users. Paytm follows with 21.59% utilization, as stated by
103 respondents. UPI is also broadly used, with 20.34% or 97 users indicating its utilization.
PhonePe is another popular preference, used by 70 respondents, making up 14.67% of the
total. Other applications like Amazon Pay, Mobikwik, Jio Money, and Freecharge are less
commonly used, with Amazon Pay at 4.82% (23 users), Mobikwik and Jio Money each at
3.14% (15 customers each), and Free charge at 3.56% (17 users). Overall, the entire quantity
of utility makes use of amounts to 477, reflecting that many respondents use multiple
payment apps for their transactions.

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 Awareness, Preference, and Perception of Mobile Payment Systems among Gen Z in Gujarat:

An Analytical Study

Table 3

Factors Influencing Mobile Payment System

Factors Frequency Percentage

Ease of Use 121 36.56
Security 89 26.89
Self-Efficiency 63 19.03
Trust 58 17.52
Total response 331
Total respondents 185
The results of table 3 shed light on the key factors influencing the choice of mobile payment
systems among 185 respondents. Ease of use emerges as the most significant factor, with 121
respondents, or 36.56%, prioritizing this aspect when selecting a payment application.
Security is also a major consideration, valued by 89 respondents, which represents 26.89% of
the total. Self-efficiency, the ability to independently manage transactions without needing
external help, is important for 63 respondents, accounting for 19.03%. Trust in the application
is the determining factor for 58 respondents, making up 17.52% of the responses. In total,
331 responses were recorded, indicating that many respondents considered multiple factors
when choosing their preferred mobile payment system. This data highlights the multifaceted
criteria that users prioritize, with a predominant focus on ease of use and security.

H0 : -Gen Z does not perceive mobile payment systems as more efficient and user-friendly
compared to traditional payment methods.

H1: - Gen Z perceives mobile payment systems as more efficient and user-friendly compared
to traditional payment methods.
The descriptive statistics (table 4) of the survey responses provide insights into the attitudes
and perceptions of 185 respondents towards mobile payment systems. The analysis covers
several factors, including benefits, ease of use, security, trust, self-efficiency, and overall
consumer perception.

 Benefits: - Respondents agree that e-payment systems save time and cost, with a mean
score of 1.74 (SD = 0.757) and significant positive skewness (1.535) and high kurtosis
(4.468), indicating most respondents strongly agree.
Convenience is also rated highly, with a mean of 1.86 (SD = 0.779), and similarly, the
billing and transaction process accuracy (mean = 1.87, SD = 0.733) and speed (mean =
1.81, SD = 0.804) receive positive ratings. These responses also show substantial positive
skewness and kurtosis, reflecting strong agreement among respondents.

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 Ease of Use: - The structure and content of e-payment websites are perceived as easy to
understand (mean = 1.95, SD = 0.754), and learning to use the system is rated similarly
(mean = 1.79, SD = 0.700), with moderate positive skewness and lower kurtosis
compared to benefits.
 Security: -Security concerns are evident, with respondents indicating significant
influence on their usage (mean = 2.02, SD = 0.790) and a high level of concern (mean =
1.96, SD = 0.833). Both metrics show moderate skewness and kurtosis, indicating that
security is a crucial factor for users.
 Trust: - Trust in mobile payment systems' ability to protect privacy (mean = 1.92, SD =
0.722) and deliver confidential information safely (mean = 1.97, SD = 0.621) are rated
positively, though with lower skewness and kurtosis, suggesting a more balanced
distribution of responses. However, concerns about transaction fraud (mean = 2.25, SD =
0.886) and perceived low risk (mean = 2.19, SD = 0.894) show higher variability and less
skewed distribution.
 Self-Efficiency: - Social influence on the intention to use mobile payment systems (mean
= 2.30, SD = 0.952) shows the highest variability and a balanced distribution. The
perception that mobile payment is better than traditional channels (mean = 1.94, SD =
0.712) is also positive but with a more significant positive skewness.

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 Table 4
Descriptive Statistics
N Ran Mini Maxi Mean Std. Skewness Kurtosis
ge mum mum Devi
ation
St Stat Statis Statis Stat Std Statis Stat St Stat St
ati istic tic tic istic . tic istic d. istic d.
sti Err Er Er
c or ro ro
r r
It saves 18 4 1 5 1.74 0.05 0.757 1.53 0.1 4.46 0.3
me time 5 6 5 79 8 55
and cost
of using
an e-
payment
system
An e- 18 4 1 5 1.86 0.05 0.779 1.21 0.1 3.04 0.3
payment 5 7 8 79 3 55
system
is
conveni
ent for
me
The 18 4 1 5 1.87 0.05 0.733 1.12 0.1 3.05 0.3
billing 5 4 8 79 4 55
and
transacti
on
process
is
Benefits accurate
ly
handled
Speed 18 4 1 5 1.81 0.05 0.804 1.31 0.1 2.96 0.3
of e- 5 9 9 79 3 55
payment
system
flow is
faster
than the
tradition
al
payment
system
I find 18 4 1 5 1.85 0.05 0.770 1.05 0.1 2.22 0.3
that it is 5 7 1 79 4 55
easier to
conduct
my
financial
transacti
ons
The 18 4 1 5 1.95 0.05 0.754 0.77 0.1 1.24 0.3
structure 5 5 3 79 9 55
and
content
of the
website
are easy
Ease of
to
Use
understa
nd
Learnin 18 4 1 5 1.79 0.05 0.700 0.88 0.1 2.00 0.3
g to use 5 1 3 79 2 55
an e-
payment
is easy
I am 18 4 1 5 1.96 0.06 0.833 1.05 0.1 1.59 0.3
concern 5 1 1 79 0 55
ed about
my
security
when
using an
e-
Security
payment
system
Matters 18 4 1 5 2.02 0.05 0.790 0.77 0.1 0.95 0.3
of 5 8 2 79 4 55
security
have
significa
nt
 influenc
e on me
in using
an e-
payment
I trust 18 3 1 4 1.92 0.05 0.722 0.38 0.1 - 0.3
the 5 3 6 79 0.19 55
ability 5
of an e-
payment
system
to
protect
my
privacy
Confide 18 3 1 4 1.97 0.04 0.621 0.29 0.1 0.58 0.3
ntial 5 6 3 79 7 55
informat
ion is
delivere
d safely
to
Trust consume
rs
I trust 18 4 1 5 2.25 0.06 0.886 0.62 0.1 0.43 0.3
the e- 5 5 6 79 2 55
payment
system
will not
lead to
transacti
on fraud
I feel 18 4 1 5 2.19 0.06 0.894 0.80 0.1 0.88 0.3
the risk 5 6 7 79 1 55
associat
ed with
an e-
payment
system
is low
Comme 18 4 1 5 2.30 0.07 0.952 0.74 0.1 0.41 0.3
nts of 5 0 9 79 0 55
other
people
will
influenc
e my
intention
to use an
e-
Self-
payment
Efficienc
system
y
A 18 4 1 5 1.94 0.05 0.712 0.82 0.1 1.88 0.3
mobile 5 2 6 79 8 55
payment
system
is better
than
tradition
al
payment
channels
A 18 4.00 1.00 5.00 2.00 0.05 0.810 0.79 0.1 1.14 0.3
mobile 5 54 962 91 4 79 9 55
payment
system
is better
than
tradition
al
payment
Consum Channel
ers’ I will 18 4.00 1.00 5.00 2.21 0.06 0.887 0.84 0.1 0.97 0.3
percepti choose 5 08 522 04 8 79 0 55
on of the
mobile trusted
payment mobile
payment
system
system
to make
transacti
ons
A 18 4.00 1.00 5.00 2.10 0.06 0.837 0.70 0.1 0.46 0.3
mobile 5 27 157 47 2 79 6 55
payment
system
is much
 more
efficient
than
tradition
al
Payment
System
I feel 18 4.00 1.00 5.00 2.16 0.05 0.777 0.76 0.1 0.95 0.3
that a 5 22 714 17 2 79 3 55
user-
friendly
mobile
payment
system
will
influenc
e me to
adopt
the
system
Valid N 18
(listwise 5
)

 Connsumers’ Perception: - Overall, respondents feel that mobile payment systems

are better (mean = 2.0054, SD = 0.81091), efficient (mean = 2.1027, SD = 0.83747),
and user-friendly systems influence adoption (mean = 2.1622, SD = 0.77717). Trust in
the system for transactions is relatively higher (mean = 2.2108, SD = 0.88704), with
moderate skewness and kurtosis across all items. Hence, null hypothesis is fail to
accepted and it is concluded that Gen Z perceives mobile payment systems as more
efficient and user-friendly compared to traditional payment methods.The respondents
demonstrate a strong preference for mobile payment systems due to their perceived
benefits, ease of use, and efficiency. However, security remains a significant concern,
and trust factors are crucial in influencing their adoption and utilisation behaviours.

Table 5
Descriptive Statistics
Uses of Std.
Rang Minim Maxim
mobile N Mean Deviat Skewness Kurtosis
e um um
payment ion
system Std Std
Std.
Statis Stati Statist Statisti Stati Statist Stati . Stati .
Erro
tic stic ic c stic ic stic Err stic Err
r
or or
SHOPPING 185 1.00 1.00 2.00 1.400 0.03 0.4912 0.412 0.1 - 0.3
0 612 3 79 1.851 55
PERSONAL 185 1.00 1.00 2.00 1.156 0.02 0.3645 1.904 0.1 1.641 0.3
USE 8 680 6 79 55
BILL 185 1.00 1.00 2.00 1.405 0.03 0.4923 0.388 0.1 - 0.3
PAYMENT 4 619 0 79 1.869 55
PROFESSION 185 1.00 1.00 2.00 1.778 0.03 0.4164 - 0.1 - 0.3
ALLY 4 062 6 1.351 79 0.176 55
Valid N 185
(listwise)

The descriptive statistics (table 5) for the usage of mobile payment systems among 185
respondents indicate distinct patterns across different categories: shopping, personal use, bill
payment, and professional use.

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 Awareness, Preference, and Perception of Mobile Payment Systems among Gen Z in Gujarat:

An Analytical Study

shopping, respondents show a mean score of 1.4000 (SD = 0.49123), indicating that many
use e-payment systems for shopping, with slight positive skewness (0.412) and significant
negative kurtosis (-1.851), suggesting a majority lean towards frequent use.

Personal use shows a mean score of 1.1568 (SD = 0.36456), highlighting that personal
transactions are very common. The high positive skewness (1.904) and positive kurtosis
(1.641) indicate a strong tendency towards frequent use by most respondents.

When it comes to bill payment, the mean score is 1.4054 (SD = 0.49230), similar to
shopping, with positive skewness (0.388) and negative kurtosis (-1.869), reflecting frequent
use but with some variability among respondents.

For professional use, the mean score is higher at 1.7784 (SD = 0.41646), suggesting less
frequent use compared to other categories. The negative skewness (-1.351) and nearly normal
kurtosis (-0.176) indicate that fewer respondents use e-payment systems professionally, but
those who do use it consistently.

Overall, the data indicates that e-payment systems are predominantly used for personal and
shopping purposes, followed by bill payments, with professional use being less common
among the respondents.

Findings and suggestions

This study results offer detailed insights into the demographic, behavioral, and attitudinal
characteristics of 287 (185 user and 102 non user) respondents regarding mobile payment
systems. The key findings are summarized as follows:

 Majority of respondents are males (68.3%) compared to females (31.7%).Most

respondents fall within the 18-22 years age group (71.4%), with smaller proportions in
the 12-18 years (16.4%) and 22-27 years (12.2%) age groups.Most respondents are
students (88.85%), with smaller segments also employed (6.27%) or running their own
businesses (1.74%).
 Majority earn less than 5000 per month (79.1%), with very few earning above 20,000
(11.8%).64.5% use mobile payment systems, while 35.5% do not.40.77% use mobile
payments daily, 5.6% use them weekly, 17.1% use them monthly, and 36.59% never use
them.

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 Google Pay is the most used application (28.72%), followed by Paytm (21.59%), UPI
(20.34%), and PhonePe (14.67%).Other Applications: Less commonly used apps include
Amazon Pay (4.82%), Mobikwik and Jio Money (each 3.14%), and Freecharge (3.56%).
 Many respondents considered multiple factors when choosing their preferred mobile
payment system.
 Gen Z have moderate trust in privacy protection and transaction safety but concerns about
fraud and risk.They have significant concern about security.
 Gen Z find mobile payment systems more efficient, user friendly and trustworthy.
 They use mobile payment system for their shopping followed by bill payment and
personal use.

Conclusion

The analysis of this study data reveals that the majority of Gen Z respondents perceive
mobile payment systems as more efficient and user-friendly compared to traditional payment
methods. The strong preference is driven by the benefits, ease of use, and efficiency offered
by these systems. However, security concerns remain significant, highlighting the need for
robust security measures to enhance trust and adoption further.

Suggestions

 Mobile payment providers should invest in advanced security technologies to address

user concerns and build trust and implement multi -factor authentication system. They
should provide customer support to assist users in resolving consumers’ issues.
 They should offer a variety of payment options and reward frequent users with incentives
such as discounts, cashback, or loyalty points and encourage businesses to accept mobile
payments by offering lower transaction fees or other incentives.
 They should develop trust-building measures such as providing guarantees against
unauthorized transactions and displaying security certifications prominently.

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