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Customer Relationship for Electronic Payment Products

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  • Dhananjay Bapat

Abstract

The article attempts to find the key attributes of electronic payment and its use by consumers. It considers various issues and concerns relating to electronic payments by reviewing research across various countries. Many newer payment products are offered by banks to take advantage of lower costs associated with the newer payments. While offering electronic payments to customers, it is important for banks to understand whether newer payment products are being used by the customers. In this study, the author examines the awareness level, usage of generic products and usage of specific products offered by banks for various electronic payment products. The author uses primary banks as a measure for customer relationships, and assesses the relationship between primary bank and various variables. It is observed that age, asset class—two wheeler and asset class—four wheeler, debit cards and Internet banking exhibit association with primary bank. Relationship is also established between a primary bank and relationship tenure of more than 10 years. Among communication sources of electronic payment products, word-of-mouth publicity is found to be an important factor.

Suggested Citation

  • Dhananjay Bapat, 2012. "Customer Relationship for Electronic Payment Products," Global Business Review, International Management Institute, vol. 13(1), pages 137-151, February.
    • Handle: RePEc:sae:globus:v:13:y:2012:i:1:p:137-151
    DOI: 10.1177/097215091101300109
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    References listed on IDEAS

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    1. Wilko Bolt & Sujit Chakravorti, 2008. "Economics of payment cards: a status report," Economic Perspectives, Federal Reserve Bank of Chicago, vol. 32(Q IV), pages 15-27.
    2. Van den Poel, Dirk & Lariviere, Bart, 2004. "Customer attrition analysis for financial services using proportional hazard models," European Journal of Operational Research, Elsevier, vol. 157(1), pages 196-217, August.
    3. Wilko Bolt & Sujit Chakravorti, 2008. "Economics of payment cards: a status report," Economic Perspectives, Federal Reserve Bank of Chicago, vol. 32(Q IV), pages 15-27.
    4. Goran Bergendahl & David B. Humphrey & Ted Lindblom & Magnus Willesson, 2003. "Cost savings from electronic payments and ATMs in Europe," Working Papers 03-16, Federal Reserve Bank of Philadelphia.
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