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A Systematic Literature Review of Digital Payments

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  • Yash Chauhan
  • Pramod Sharma

Abstract

Digital payment is one of the payment methods that is used for exchanging currency digitally without the use of actual cash. Digital payments have revolutionized the way people spend their money. The present study aims to provide an extensive literature review of emerging digital payment technologies. The authors have gathered data from different databases, which include Scopus, Web of Science, EBSCO, and Elsevier using the keywords “Digital Payments†, “Internet Banking†, “Mobile Banking†, “E-payments†, “Electronic Payments†, “Online Payments†, and “Virtual Payments†. The research papers have been selected using certain selection criteria that have been discussed in this article. The present study has been divided into many sections including top contributing countries in the field of digital payments, trends of citation, prominent author’s citations, and prominent research methodologies of research papers. It highlights the worldwide spread of research on digital payments, including notable contributions from India, China, the United States of America, Malaysia, and Indonesia, among other nations. Regarding research methodology, surveys and quantitative approaches are often used, and one common data analysis tool is structural equation modelling. The present study highlighted themes such as adoption, usage, engagements, and infrastructure that dominate in most research. Also, many researchers did not use any research models and theoretical frameworks in their studies, with the unified theory of acceptance and use of technology (UTAUT) and the technology acceptance model (TAM) being the most favoured models and theoretical frameworks when utilized. The present study also provides the factors affecting digital payment adoption. This study provides academic contribution by providing global research trends, methodological preferences, and theoretical frameworks. Future directions and thrust areas in the field of digital payments have also been discussed, which guides academicians in the direction of more thorough studies.

Suggested Citation

  • Yash Chauhan & Pramod Sharma, 2024. "A Systematic Literature Review of Digital Payments," Metamorphosis: A Journal of Management Research, , vol. 23(2), pages 173-187, December.
    • Handle: RePEc:sae:metjou:v:23:y:2024:i:2:p:173-187
    DOI: 10.1177/09726225241257730
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    References listed on IDEAS

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    1. Abbas Keramati & Rose Taeb & Arad Mousavi Larijani & navid Mojir, 2010. "A combinative model of behavioural and technical factors affecting ‘Mobile’-payment services adoption: an empirical study," The Service Industries Journal, Taylor & Francis Journals, vol. 32(9), pages 1489-1504, October.
    2. Pavel Andreev & Nava Pliskin & Sheizaf Rafaeli, 2012. "Drivers and Inhibitors of Mobile-Payment Adoption by Smartphone Users," International Journal of E-Business Research (IJEBR), IGI Global Scientific Publishing, vol. 8(3), pages 50-67, July.
    3. Ashwarya Kapoor & Rajiv Sindwani & Manisha Goel, 2024. "Mobile Wallets: Theoretical and Empirical Analysis," Global Business Review, International Management Institute, vol. 25(2_suppl), pages 211-228, April.
    4. Lingling Gao & Kerem Aksel Waechter, 2017. "Examining the role of initial trust in user adoption of mobile payment services: an empirical investigation," Information Systems Frontiers, Springer, vol. 19(3), pages 525-548, June.
    5. Nicole Koenig-Lewis & Morgan Marquet & Adrian Palmer & Anita Lifen Zhao, 2015. "Enjoyment and social influence: predicting mobile payment adoption," The Service Industries Journal, Taylor & Francis Journals, vol. 35(10), pages 537-554, July.
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    1. Sumita Jagdishprasad Shroff & Rajkumari Nitin Soni & Simran Rohira, 2026. "Digital currency usage intention among existing fintech users: testing the modified UTAUT using hybrid SEM-ANN approach," Journal of Financial Services Marketing, Palgrave Macmillan, vol. 31(1), pages 1-27, March.

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