Diffusion and Adoption of Credit Cards in Indian Banking Sector
DOI:
https://doi.org/10.31150/ajebm.Vol1.Iss2.21Keywords:
emphasizes, non-interest income, dichotomous variableAbstract
The study emphasizes on the identification of factors, which may have influenced the banks to adopt credit cards along with their traditional banking services. Bank specific variables were investigated to deepen the understanding on the diffusion and adoption of credit cards. The data relating to sampled banks’ characteristics have been collected from database of Reserve Bank of India. To know about the status of the bank regarding its adoption of credit card, the websites and annual reports of the banks were explored during different intervals of time period of the study. The study considers the dependent variable i.e. adoption of credit cards as dichotomous variable, whether or not a bank renders the credit card services, denoting 1 if the bank has adopted credit card otherwise 0. The logistic regression has thus been applied to get the valid and reliable results. The empirical findings reveal that, size, non-interest income, non performing assets, profitability, age and market share of the bank are the variables which have contributed significantly in the diffusion and adoption of credit cards.
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References
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63. Sobirov, B. (2018). Innovative development of tourism in Uzbekistan. American Journal of Economics and Business Management, 1(1), 60-74. Retrieved from http://globalresearchnetwork.us/index.php/AJEBM/article/view/7
64. Suneja, H.R. (1994), “Innovations in Banking Services”, Himalaya Publishing House.
65. Szmigin, I. and Foxall, G. (1998), “Three Forms of Innovation Resistance: The Case of Retail Payment Methods”, Technovation, 18(6/7), pp. 459–468
66. Ummah, S., & Athambawa, S. (2018). Organizational citizenship behavior and job satisfaction among non- academic employees of national universities in the Eastern province of Sri Lanka. American Journal of Economics and Business Management, 1(1), 75-84. Retrieved from http://globalresearchnetwork.us/index.php/AJEBM/article/view/8
67. Yiu, C.S., Grant, K. and Edgar, D. (2007), “Factors affecting the adoption of Internet Banking in Hong Kong—Implications for the Banking Sector”, International Journal of Information Management, 27(5), pp. 336–351.
2. Ajzen, I. (1991), “The Theory of Planned Behavior”, Organizational Behavior and Human Decision Processes, 50(1), 179-211.
3. Akhavien, J., Frame, W.S. and White, L.J. (2005), “The Diffusion of Financial Innovation: Adoption of Small Business Credit Scoring by Large Banking Organisations, Journal of Business, 78(2), 577-596.
4. Al-Hajri, S. and Tatnall, A. (2008), “Technological Innovation and the Adoption of Internet Banking in Oman” The Electronic Journal for Virtual Organizations and Networks, 10(1), pp. 1-34.
5. Balakrishnan, M. (2006), “Indian Payment System and their Performance”, Indian Banker, 1(11), pp. 5-10.
6. Baltagi, H. (2002), “Econometric Analysis of Panel Data”, Johan Wiley and Sons, Ltd.
7. Baptista, R. (1999), “The Diffusion of Process Innovation: a Selective Review”, International Journal of the Economics of Business, 6(1): pp. 107-129.
8. Bughin, J. (2003), “The Diffusion of Internet Banking in Western Europe”, Electronic Markets, 13(3), pp. 49-64
9. Buzzacchi, L., Colombo, M., Mariotti, S. (1995), “Technological regimes and innovation in services: the case of the Italian banking industry”, Research Policy, 24(2), pp. 151-168.
10. Carlson, J., Furst, K., Lang, W.W. and Nolle, D.E. (2001), “Internet Banking: Market Developments and Regulatory Issues.” Manuscript Society of Governments Economists, Washington D.C.
11. Chaudhuri, A. (1994), “The Diffusion of an Innovation in Indonesia”, Journal of Product & Brand Management, 3(3), pp. 19-26
12. Corrocher. N. (2002), “Does Internet Banking Substitute Internet Banking? Empirical Evidence from Italy”, Working Paper, CESPRI, Available at pub/RePEC/cri/ papers/corrocher134.pdf, Accessed on 25 November, 2012.
13. Corrocher, N. (2006), “Internet adoptions in Italian Banks: An Empirical Investigation”, Research Policy, 35(1), pp. 533-544.
14. Courchane, M., David N. and Richard J.S. (2002), “Investment in Internet Banking as a Real Option: Theory and Tests,” The Journal of Multinational Financial Management, 12(4/5), pp. 347-63.
15. Frame, W.S. and White, L.J. (2004), “Empirical Studies of Financial Innovation: Lots of Talk, Little Actress? Journal of Economic Literature, 42(1), pp. 116-144.
16. Frie, F.X., Harker, P.T. and Hunter, L.W. (1998), “Innovation in Retail Banking” Financial Institutions Center, Available at mechroom.technion.ac.il/serving/ lectures/retail.pdf, Accessed on 13 November, 2013.
17. Furst, K., Lang, W.W. and Nolle, D.E. (2000), “Who Offers Internet Banking?”, Quarterly Journal, Office of the Comptroller of the Currency, 19(2), pp. 27-46.
18. Furst, K., Lang, W. and Nolle, D. (2001), “Internet Banking in the US: Landscape, Prospects, and Industry Implications,” Journal of Financial Transformation, 2(2), pp. 45-52.
19. Furst, K., Lang, W.W. and Nolle, D.E. (2002a), “Internet Banking: Developments and Prospects”, Working Paper, Center for Information Policy Research, Harvard University.
20. Furst, K., Lang, W.W. and Nolle, D.E. (2002b), “Internet Banking”, Journal of Financial Services Research, 22(1/2), pp. 93-117.
21. Gourlay, A.R. and Pentecost, E.J. (2002), “The Determinants of Technology Diffusion: Evidence from the UK Financial Sector”, The Manchester School, 70(2), pp. 185-203.
22. Gourlay, A.R. and Pentecost, E.J. (2005), “The Impact of Network Effects on Technology Adoption: Evidence from the Adoption of Automated Teller Machines”, Department of Economics Loughborough University, Loughborough.
23. Hair, J., Anderson, R., Tatham, R and Black, W. (2001), “Multivariate Data Analysis,” Prentice Hall.
24. Hall, J. And Khan, B. (2002), “Commit on Banking Supervision, Risk Management Principles for Electronic Banking.” Available at http:www.imf.org/external/ NP/Prsp/2002/rwa/01/063102.pdf, Accessed on 25 November, 2013.
25. Hannan, T. and McDowell, J. (1983), “The Determinants of Technology Adoption: The Case of the Banking Firm”, RAND Journal of Economics, 15(3) pp. 328-335.
26. Hannan, T. and Mcdowell, J. (1984), “Market Concentration and the Diffusion of New Technology in the Banking Industry”, The Review of Economics and Statistics, 66(4) pp. 686-691.
27. Hannan, T. and Mcdowell, J. (1987), “Rival Precedence and the Dynamics of Technology Adoption: An Empirical Analysis”, Economica, 60(3), pp. 155-171.
28. Hasan, I., Maccario, A. And Zazzara, C. (2002), “Do internet activities add value? The Italian Bank Experience”, Working Paper, Berkley Research Center, New York University.
29. Haynes, M. and Thompson, S. (2000), “The Productivity Impact of IT Deployment: An Empirical Evaluation of ATM Introduction.” Oxford Bulletin of Economics and Statistics, 62(5), pp. 631-643.
30. Hester, D.D., Calcagnini, G. and De Bonis, R. (2001), “Competition through Innovation: ATMs in Italian Banks”, Rivista Italiana Delgi Economesi, 6(1), pp. 359-381.
31. Hopenhayn, H. A. (1992). “Entry, Exit, and Firm Dynamics in Long Run Equilibrium,” Econometrica, 60(2), pp. 1127-1150.
32. Hoppe, R., Newman, P. and Mugera, P. (2001), “Factors Affecting the Adoption of Internet Banking in South Africa: A Comparative Study”, Project, Department of Information Systems, University of Cape Town.
33. Kolodinsky, J. and Hogarth, J.M. (2001), “The Adoption of Electronic Banking Technologies by American Consumers,” Consumer Interests Annual, 47(1), pp. 1-9.
34. Kolodinsky, J.M., Hogarth, J.M. and Hilgert, M.A. (2004), “The Adoption of Electronic Banking Technologies by US Consumers” The International Journal of Bank Marketing, 22(4), pp. 238-259.
35. Kumar, L., Malathy, D. and Ganesh, L.S. (2011), “The Diffusion of ATM Technology in Indian Banking”, Journal of Economic Studies, 38(4), pp. 483-500.
36. Kuppuswamy, P.T. (2003), “Indian Banking Sector: Challenges and Opportunities”, Vikalpa: The Journal of Decision Makers, 28(3), pp. 54.67.
37. Mahajan V., Muller E. and Srivastava R. K. (1990), “Determination of Adopter Categories by Using Innovation Diffusion Models”, Journal of Marketing Research, 27(1), pp. 37-50.
38. Malhotra, N.K. (2006), “Marketing Research: An Applied Orientation”, Pearson Education, India.
39. Malhotra, P. And Singh, B. (2004), “Status of Internet Banking in India”, Management Accountant, 39(11), pp. 890-896.
40. Malhotra, P. and Singh, B. (2007), “Determinants of Internet Banking Adoption by Banks in India”, Internet Research, 17(3), pp.
41. Malhotra, P. and Singh, B. (2009), “The Impact of Internet Banking on Performance and Risk: The Indian Experience”, Eurasian Journal of Business and Economic, 2(4), pp. 43-62.
42. Mansfeld, E. (1968), “The Economics of Technical Change”, New York, Norton.
43. Mansfield, E. (1961), “Technical Change and the Rate of Innovation,” Econometrica, 2(9), pp. 741-66.
44. Mansury, M.A. and Love, J.H. (2008), “Innovations, Productivity and Growth in US Business Services: A Firm-level Analysis”, Technovation, 28(1/2), pp. 52-62.
45. Read, A. (2000), “Determinants of Successful Organisational Innovation: A Review of Current Research”, Journal of Management Practice, 3(1), pp. 95-11.
46. Reserve Bank of India (2002), “Report on the Working Group on Electronic Money”, Policy Issues for the RBI, Available at www.rbi.org.in/scripts/publicationreport deails.com, Accessed on 24 April, 2013.
47. Reserve Bank of India (2005), “Report of the Working Group on Regulatory Mechanism for Cards”, Available at www.rbi.org.in/scripts/publicationreport details.aspx, Accessed on 24 April, 2013.
48. Reserve Bank of India (2007), “Report on Trend and Progress of Banking in India: 2006-07”, Available at http://rbidocs.rbi.org.in/rdocs/Publications/PDFs/81450. pdf, Accessed on 08 April, 2012.
49. Reserve Bank of India (2008), “Report on Payment System in India, 2005-08”, Available at www.rbi.org.in/scripts/paymentsystems_UM.aspx, Accessed on 08 April, 2010.
50. Reserve Bank of India (2013), “Annual Report”, Available at www.rbi.org.in/scripts/ Annual Report Publication.aspx, Accessed on 08 March 2014.
51. Reserve Bank of India (2013), “Master Circular”, Reserve Bank of India, Available at http://www.rbi.org.in/scripts/BS_viewmastercirculardetails.aspk, Accessed on 12 December 2014.
52. Reserve Bank of India (2014), “Annual Report”, Available at www.rbi.org.in/scripts/ Annual Report Publication.aspx, Accessed on 08 March 2014.
53. Reserve Bank of India (2014), “RBI Bulletin.” Available at http://rbidocs.rbi.org.in/ rdocs/Bulletin/PDFs/00BLD081214F.pdf, Accessed on 18 March, 2014.
54. Saloner, G. And Shepard, A. (1995), “Adoption of Technologies with Network Effects: An Empirical Examination of the Adoption of Automated Teller Machines”, RAND Journal of Economics, 26(4), pp. 479-501.
55. Sarosa, S. (2007), “The Information Technology Adoption Process within Indonesian Small and Medium Enterprises”, Doctoral Dissertation, University of Technology, Sydney.
56. Schumpeter, J.A. (1950), “The Theory of Economic Development”, Cambridge (Mass): Harvard University Press.
57. Seligman, L. (2006), “Sensemaking throughout Adoption and the Innovation-Decision Process”, European Journal of Innovation Management, 9(1), pp. 108 - 120
58. Shao, G. (2007), “The Diffusion of Online Banking: Research Trends from 1998 to 2006”, Journal of Internet Banking and Commerce, 12(2), pp. 1–13.
59. Sharma (1993), “Behind the Diffusion Curve: An Analysis of ATM Adoption”, Working Paper 686, Department of Economics, University of California, Available at http://www.econ.ucla.edu/workingpapers/wp686.pdf, Accessed on 04th September, 2010.
60. Sullivan, R. And Wang, Z. (2013), “Internet Banking: An Exploration in Technology Diffusion and Impact”, Working Paper 13-10, Payments System Research Department, Federal Reserve Bank of Kansas City, Kansas City, MO.
61. Sullivan, R.J. (2000), “How has the Adoption of Internet Banking Affected Performance and Risk at Banks? A look at Internet Banking in the Tenth Federal Reserve District.” Federal Reserve Bank of Kanras City Financial Industry Perspectives, 1(4), pp. 1-16.
62. Sullivan, R.J. (2000), “How has the Adoption of Internet Banking affected Performance and Risk and Banks? A Look at Internet Banking in the Tenth Federal Reserve District”, Financial Industry Perspectives, Federal Reserve Bank of Kansas City, December, pp. 1-16.
63. Sobirov, B. (2018). Innovative development of tourism in Uzbekistan. American Journal of Economics and Business Management, 1(1), 60-74. Retrieved from http://globalresearchnetwork.us/index.php/AJEBM/article/view/7
64. Suneja, H.R. (1994), “Innovations in Banking Services”, Himalaya Publishing House.
65. Szmigin, I. and Foxall, G. (1998), “Three Forms of Innovation Resistance: The Case of Retail Payment Methods”, Technovation, 18(6/7), pp. 459–468
66. Ummah, S., & Athambawa, S. (2018). Organizational citizenship behavior and job satisfaction among non- academic employees of national universities in the Eastern province of Sri Lanka. American Journal of Economics and Business Management, 1(1), 75-84. Retrieved from http://globalresearchnetwork.us/index.php/AJEBM/article/view/8
67. Yiu, C.S., Grant, K. and Edgar, D. (2007), “Factors affecting the adoption of Internet Banking in Hong Kong—Implications for the Banking Sector”, International Journal of Information Management, 27(5), pp. 336–351.
Published
2018-04-07
How to Cite
Kaur, D. M., & Kaur, D. (2018). Diffusion and Adoption of Credit Cards in Indian Banking Sector. American Journal of Economics and Business Management, 1(2), 1–20. https://doi.org/10.31150/ajebm.Vol1.Iss2.21
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