CUSTOMER PERCEPTIONS ON E-BANKING IN INDIA- A SECURITY AND PRIVACY PERSPECTIVE

The paper intends to measure the security and privacy issues and their acceptance among mature customers in India. The investigation explains that how mature consumer perceives e-services for example, electronic fund transfer for small amount or large amount of money in addition to automated teller machine for withdrawing cash and convenient account access. The data required for fulfillment of the objectives was gathered from 117 mature customers who have above the age of 35 through well structured questionnaire. In the questionnaire 20 questions were analyzed on Likert scale. Descriptive statistics was used to explain demographic profile of the respondents. Frequency and Percentage method were used to measure the level concern about security and privacy and their acceptance of online banking in India. The results in the paper showed that there are many factors such as familiarity, economy benefits, and trust increases the acceptance of online banking between mature customers. There are four hypothesis were analysed and found that mature customers are very much concern regarding online transaction security is mostly due to spreading stories of credit card fraud and hacking and others. The finding shows that in spite of their security and privacy concern, mature customers are willing to adopt online banking if banks provide him necessary guidance. The findings of this paper are reached to 117 respondents and do not consider less educated mature customers who are less educated or those who never used computers or accessed the Internet. Furthermore, the research could encompass other aspect of acceptance of online banking. This paper suggests the opinion of mature customers in online banking. Based on the results of current study, Bank's managers would segment the market on the basis of age group and take their opinion and will provide them necessary guidance regarding use of online banking. This study explores the opinion of mature customers and discusses their level of concern regarding to security and privacy issues.