Factors affecting customers’ perception towards payment banks: An analytical study

Payments Banks (PBs) are new model of banks, conceptualised by the Reserve Bank of India (RBI) to widen the spread of payment and financial services to small businessmen, low-income household groups, migrant and labourers in secured technology-driven environment. The article attempts to explore the factors affecting customers’ perceptions towards Payment Banks. Data has been collected through a questionnaire from 285 respondents who are customers of payment banks in Amritsar. Factor analysis is employed to analyse the responses given by the customers of payment banks. The findings of the study demonstrated that four factors affect customer perceptions towards payment banks namely, ‘User awareness’, ‘Accessibility and Ease of Use’, ‘Technological Support’ and ‘Complaint & Customer Service Management’