Adoption of Payment Systems in Ten Countries
Submitted by: Donny Thomas Diju Daniel Manisha Das Itika Maharaja Udita Sood Raunak Dutta Soumava Ghosh Indrajit Mitra ADOPTION OF PAYMENT SYSTEMS IN TEN COUNTRIES- A CUSE STUDY OF DIFFUSION OF INNOVATIONS
Table of Contents Introduction 3 Literature review: 4 Marketing Research: 7 Case Analysis: 9 Conclusion: 12 Learning Outcomes 13
Introduction
The case talks about the the product innovation adopted by the market. The speed of adaptation of an innovationation is dependent on the adaptation of previous products and systems. Social learning plays a major role in diffusion of these products. These social learning are stimulated by communication. In case of software industry where new operating systems, software packages and software updates follow each other rapidly, opportunities for social learning may be less than in case of communication, manuscripts and other results, produced by software packages, will be visible and exchanged between people, thus stimulating social learning.
His case focuses on adoption of payment method. Bank has evolved many new types of payment systems like cheques, credit card, ATMs and banker’s card. Use of cheque is declining and is been replaced by non-cash transactions. Desk-money transactions have been replaced by automatic teller machines (ATMs) and cash-money transactions were first replaced by money cheques and later by credit cards and banker's cards.In most western countries, the volume of money transactions by means of plastic cards is increasing. These innovations are followed by smart cards. The success of the smart card will depend on market circumstances and cooperation among the banks.Since in different countries the volume of banker's card transactions has developed in different ways, the introduction and adoption of the next innovation, the smart card, will vary across
Table of Contents Introduction 3 Literature review: 4 Marketing Research: 7 Case Analysis: 9 Conclusion: 12 Learning Outcomes 13
Introduction
The case talks about the the product innovation adopted by the market. The speed of adaptation of an innovationation is dependent on the adaptation of previous products and systems. Social learning plays a major role in diffusion of these products. These social learning are stimulated by communication. In case of software industry where new operating systems, software packages and software updates follow each other rapidly, opportunities for social learning may be less than in case of communication, manuscripts and other results, produced by software packages, will be visible and exchanged between people, thus stimulating social learning.
His case focuses on adoption of payment method. Bank has evolved many new types of payment systems like cheques, credit card, ATMs and banker’s card. Use of cheque is declining and is been replaced by non-cash transactions. Desk-money transactions have been replaced by automatic teller machines (ATMs) and cash-money transactions were first replaced by money cheques and later by credit cards and banker's cards.In most western countries, the volume of money transactions by means of plastic cards is increasing. These innovations are followed by smart cards. The success of the smart card will depend on market circumstances and cooperation among the banks.Since in different countries the volume of banker's card transactions has developed in different ways, the introduction and adoption of the next innovation, the smart card, will vary across