E-Payment Systems and Traditional Banking: A Comparative Analysis
Author : Dr. Rajkumar Nagarwal
Abstract :
The evolution of electronic payment (e-payment) systems has significantly transformed the financial services landscape, challenging the conventional model of traditional banking. This research explores the impact of e-payment technologies—such as mobile banking, internet banking, digital wallets, and contactless payments—on traditional banking services. It examines how these innovations have reshaped customer behavior, operational processes, service delivery, and revenue models in the banking sector.
The primary objective of this study is to assess the extent to which e-payment systems have disrupted or complemented traditional banking services. The research aims to analyze trends in customer adoption, identify the challenges faced by banks in adapting to digital transformation, and evaluate the strategic responses adopted by financial institutions. The study draws upon data from industry reports, customer surveys, and case studies of selected banks to provide a comprehensive understanding of the evolving financial ecosystem. Ultimately, this research seeks to offer insights into how traditional banks can remain competitive in an increasingly digital financial environment.
Keywords :
E-payment systems, traditional banking, digital transformation, financial technology (FinTech), mobile banking, internet banking, digital wallets, contactless payments, customer behavior, banking innovation.
