User Perceived Value (UPV) on Virtual Banking Portal – A Study on Perspective of Cashless Economy Murugesan T. K.1, Kotteeswaran M.2 1Faculty Member, Department of Management & Commerce, Kristu Jayanti College, Bangalore, Karnataka, India. tkmvidhuharshit@gmail.com 2Associate Professor & Research Scholar, Knowledge Business School, Salem, Tamilnadu, India. smkottee@gmail.com Online published on 16 February, 2018. Abstract 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, ‘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. Top Keywords Virtual Banking Portal, User Perceived Value, Ease of Use, Convenience, Trust & Reliability, Access Cost, Time Savings, Privacy & Security, and Government Supports. Top |