User Perceived Value (UPV) on Virtual Banking Portal – A Study on Perspective of Cashless Economy

The main purpose of this study is to throw a light on the user perceived value on the core facets that
are closely associated with the virtual banking portal provided by commercial banks in Bangalore.
Virtual banking is mostly viewed as the provision of banking services via virtual means other than
traditional physical branches. This empirical study was exclusively carried out in Bangalore via a
structured questionnaire with a five-point Likert scale. This study was conducted on 134
gratification users of virtual banking portal and they were conveniently sampled from Bangalore on
the basis of purposive sampling technique. The core facets that are underlying virtual banking
portal were empirically identified as the ease of use, convenience, trust & reliability, access cost,
time savings, privacy & security and government supports on cashless economy.
The outcome of this study clearly revealed that most of the indicative statements pertaining to the
core facets that are associated with virtual banking portal were highly significant from the
perspectives of user gratification. Out of seven research constructs, the „trust & reliability‟ and
„privacy & security‟ were perceived as the significant threats of accessing virtual banking portal,
which remarkably affected the users‟ gratification value on the virtual banking services.
Meanwhile, ease of use, convenience, time savings, access cost and Government supports on
cashless economy were the core basis of user gratification to access virtual banking portal. Besides,
Murugesan & Kotteeswaran (2018). Asian Journal of Research in Banking and Finance,
Vol. 8, No.2, pp. 50-67.
51
„ease of use‟, „convenience‟ and „time savings‟ were identified as key core banking solutions for
accessing virtual banking portal offered by commercial banks in Bangalore. The results of this
study are interesting and useful for the strategic planning of virtual IT and telecommunication in
banking industry.
Keywords: Virtual Banking Portal, User Perceived Value, Ease of Use, Convenience, Trust &
Reliability, Access Cost, Time Savings, Privacy & Security, and Government Supports.