Summary of previous studies in terms of what has been done, what is still missing and correspondingly contributions of this study
| Study | What has been done | What is missing | Contributions of current research |
|---|---|---|---|
| Rana and Al Mamun (2024) | Studied the influence of monetary policy on GDP of Bangladesh, applying ARIMA and OLS techniques. Identified that interest rates, inflation and repo rates have strong effects on economic performance | Inadequate research on the implications of digital financial systems, such as mobile payments, on the efficiency of monetary policy | Furthers the connection between generation and digital payment adoption as well as economic stability, even at the level of customer satisfaction in a society without cash and in the macroeconomic realm |
| Rana et al. (2023) | Distinguished the instrumental variables of monetary policy of Bangladesh that affect the money supply and demand in the economy such as interest rates and open market operations | Lacking literature about the effect of these instruments on customer satisfaction and the digital payments system adoption in Bangladesh | Unifies consumer satisfaction with monetary policy, by evaluating the efficacy of digital payment instruments (mobile banking and QR codes) in transition to a cashless society in Bangladesh |
| Rana et al. (2024) | Researched the ESG (Environmental, Social, Governance) effect on SDGs in South Asia, including renewable energy and regulatory quality | Limited attention to user satisfaction in the context of digital payment systems and their implications in the financial ecosystem | Connects ESG Reflection in the Digital Payment, with particular to how digital transactions can contribute to the achievement of SDGs especially in terms of financial inclusion and sustainability in Bangladesh |
| Rana et al. (2025) | Examined the impact of banking stability in South and South East Asia on achieving the SDGs, and discovered that financial stability was highly associated with the objectives of the SDGs | Lack of deep analysis of consumer attitudes and satisfaction with banking systems especially with non-branch banking | Addresses the void by examining determinants of consumers’ satisfaction, such as trust, security and usability, relating to mobile banking and digital wallets, and how these determinants impact SDG attainment |
| Al Mamun et al. (2025) | Studied the adoption of blockchain in the banking industry of Bangladesh, particularly ease of use and usefulness in promoting financial sustainability | No such study that addressed consumer satisfaction perception toward blockchain technology for digital payment system in Bangladesh | Offers practical understanding and knowledge of how blockchain technology could increase customer satisfaction for digital payments through trust and security to enable mass adoption |
| Bhuiyan et al. (2024) | Studied customer satisfaction in the banking industry and concluded that service quality significantly affects customer loyalty and satisfaction | Inadequate focus on the impact of digital banking platforms (including mobile financial services, MFS) on the long-term satisfaction of customers | Builds upon this work by examining how security, ease of use, and awareness drive satisfaction with mobile financial services and digital payment mechanisms in Bangladesh |
| Saha et al. (2022) | Discovered that the use of cashless mode of payment has increased the operational efficiencies of banks delivering more certain and streamlined banking services | It is more about operational efficiency rather than customer-centric stuff like satisfaction, trust in cashless systems | This examines the customer experience side of cashless transactions and traces the procedural enhancements to immediate results on customer satisfaction |
| Gupta and Hakhu (2021) | Showed that the banking efficiency and financial system stability are improved in cashless economy | Does not emphasize the customer view of the trustiness of these systems | An analysis of the impact of customers’ perceptions of security, trust and ease of use on transaction satisfaction for electronic marketplaces: A grounded theory study: RACT. How do customers’ perceptions of security, trust and ease of use influence their satisfaction with digital payment systems: A consumer perspective on operational studies |
| Akturan and Tezcan (2012) | Concentrated on the extent of mobile financial services’ adoption and the influence of perceived ease of use and trust on the acceptance | There is a lack of an in-depth understanding regarding the effects of security risk and infrastructural failure on satisfaction in Bangladesh | Does the knowledge base on security and local infrastructure readiness lead to consumer satisfaction in Bangladesh transformation into a cashless society? |
| Alhassany and Faisal (2018) | Emphasized the transaction cost and accessibility-efficiency of mobile banking | Fails to consider impediments to adoption and satisfaction, especially in rural areas | Contributes fresh thoughts in the dichotomy of urban-rural divide in the usage of digital payments covering trust and accessibility barriers |
| Rahman and Sloan (2015) | Highlighted obstacles for cashless to be adopted, such as trust, security and infrastructure | Does not have a comprehensive framework linking customer satisfaction and those barriers | Establishes a holistic model that explains customer satisfaction has mediating role between perceived security and ease of use for cashless transactions in urban and rural adoption simultaneously |
| Ma et al. (2017) | Looked at the direction the world is heading of becoming cashless, looking at convenience and efficiency | Did not measure customer satisfaction in the emerging markets such as Bangladesh | Reviews the Bangladesh context and examines how customers are satisfied with a cashless society and the adoption of it, and that gives an orientation to the emerging market (Bangladeshi cashless society) |
| Afroze and Rista (2022) | Discussed mobile banking and digital products in Bangladesh, focusing on their contribution to financial inclusion | Consumer satisfaction regarding digital payment system is inadequate | Contributes to our understanding of the value of mobile banking services on consumer satisfaction, namely in terms of accessibility and convenience in Bangladesh |
| Islam et al. (2024a, b, c, d) | Perceived ease of use and trust are important to accept mobile financial services and cryptocurrency | Primarily concentrated on adoption, but not satisfaction of cashless in Bangladesh | Extends the emphasis to customer satisfaction, connecting perceived ease of use and trust with customer satisfaction and general diffusion of cashless payment systems |
| Jin and Xu (2024a, b) | Applied machine learning to forecast market evolution and trends in China, providing forecasting methods | Though have been found a survey of these models to learn the role of the models in cashless payment adoption | Uses extensive modeling approaches to investigate factors influencing customer satisfaction and adoption of cashless payment systems in Bangladesh |
| Study | What has been done | What is missing | Contributions of current research |
|---|---|---|---|
| Studied the influence of monetary policy on GDP of Bangladesh, applying ARIMA and OLS techniques. Identified that interest rates, inflation and repo rates have strong effects on economic performance | Inadequate research on the implications of digital financial systems, such as mobile payments, on the efficiency of monetary policy | Furthers the connection between generation and digital payment adoption as well as economic stability, even at the level of customer satisfaction in a society without cash and in the macroeconomic realm | |
| Distinguished the instrumental variables of monetary policy of Bangladesh that affect the money supply and demand in the economy such as interest rates and open market operations | Lacking literature about the effect of these instruments on customer satisfaction and the digital payments system adoption in Bangladesh | Unifies consumer satisfaction with monetary policy, by evaluating the efficacy of digital payment instruments (mobile banking and QR codes) in transition to a cashless society in Bangladesh | |
| Researched the ESG (Environmental, Social, Governance) effect on SDGs in South Asia, including renewable energy and regulatory quality | Limited attention to user satisfaction in the context of digital payment systems and their implications in the financial ecosystem | Connects ESG Reflection in the Digital Payment, with particular to how digital transactions can contribute to the achievement of SDGs especially in terms of financial inclusion and sustainability in Bangladesh | |
| Examined the impact of banking stability in South and South East Asia on achieving the SDGs, and discovered that financial stability was highly associated with the objectives of the SDGs | Lack of deep analysis of consumer attitudes and satisfaction with banking systems especially with non-branch banking | Addresses the void by examining determinants of consumers’ satisfaction, such as trust, security and usability, relating to mobile banking and digital wallets, and how these determinants impact SDG attainment | |
| Studied the adoption of blockchain in the banking industry of Bangladesh, particularly ease of use and usefulness in promoting financial sustainability | No such study that addressed consumer satisfaction perception toward blockchain technology for digital payment system in Bangladesh | Offers practical understanding and knowledge of how blockchain technology could increase customer satisfaction for digital payments through trust and security to enable mass adoption | |
| Studied customer satisfaction in the banking industry and concluded that service quality significantly affects customer loyalty and satisfaction | Inadequate focus on the impact of digital banking platforms (including mobile financial services, MFS) on the long-term satisfaction of customers | Builds upon this work by examining how security, ease of use, and awareness drive satisfaction with mobile financial services and digital payment mechanisms in Bangladesh | |
| Discovered that the use of cashless mode of payment has increased the operational efficiencies of banks delivering more certain and streamlined banking services | It is more about operational efficiency rather than customer-centric stuff like satisfaction, trust in cashless systems | This examines the customer experience side of cashless transactions and traces the procedural enhancements to immediate results on customer satisfaction | |
| Showed that the banking efficiency and financial system stability are improved in cashless economy | Does not emphasize the customer view of the trustiness of these systems | An analysis of the impact of customers’ perceptions of security, trust and ease of use on transaction satisfaction for electronic marketplaces: A grounded theory study: RACT. How do customers’ perceptions of security, trust and ease of use influence their satisfaction with digital payment systems: A consumer perspective on operational studies | |
| Concentrated on the extent of mobile financial services’ adoption and the influence of perceived ease of use and trust on the acceptance | There is a lack of an in-depth understanding regarding the effects of security risk and infrastructural failure on satisfaction in Bangladesh | Does the knowledge base on security and local infrastructure readiness lead to consumer satisfaction in Bangladesh transformation into a cashless society? | |
| Emphasized the transaction cost and accessibility-efficiency of mobile banking | Fails to consider impediments to adoption and satisfaction, especially in rural areas | Contributes fresh thoughts in the dichotomy of urban-rural divide in the usage of digital payments covering trust and accessibility barriers | |
| Highlighted obstacles for cashless to be adopted, such as trust, security and infrastructure | Does not have a comprehensive framework linking customer satisfaction and those barriers | Establishes a holistic model that explains customer satisfaction has mediating role between perceived security and ease of use for cashless transactions in urban and rural adoption simultaneously | |
| Looked at the direction the world is heading of becoming cashless, looking at convenience and efficiency | Did not measure customer satisfaction in the emerging markets such as Bangladesh | Reviews the Bangladesh context and examines how customers are satisfied with a cashless society and the adoption of it, and that gives an orientation to the emerging market (Bangladeshi cashless society) | |
| Discussed mobile banking and digital products in Bangladesh, focusing on their contribution to financial inclusion | Consumer satisfaction regarding digital payment system is inadequate | Contributes to our understanding of the value of mobile banking services on consumer satisfaction, namely in terms of accessibility and convenience in Bangladesh | |
| Perceived ease of use and trust are important to accept mobile financial services and cryptocurrency | Primarily concentrated on adoption, but not satisfaction of cashless in Bangladesh | Extends the emphasis to customer satisfaction, connecting perceived ease of use and trust with customer satisfaction and general diffusion of cashless payment systems | |
| Applied machine learning to forecast market evolution and trends in China, providing forecasting methods | Though have been found a survey of these models to learn the role of the models in cashless payment adoption | Uses extensive modeling approaches to investigate factors influencing customer satisfaction and adoption of cashless payment systems in Bangladesh |
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