A PROJECT REPORT

ON
E-WALLET, REFERENCE TO CUSTOMERS

A Project Submitted to
University of Mumbai for partial completion of the degree
of
Bachelor In Commerce (Accounting and Finance)

BY
ABHISHEK SUNIL SONDKAR
SEAT NO ;- 1090824

UNDER THE GUIDANCE OF

PROF. Ashish Mulay.

Anand Vishwa Gurukul Senior Night College,

Thane (west), Maharashtra-400604

ACADEMIC YEAR 2018-19

 CERTIFICATE

SHARDA EDUCATION SOCIETY'S

ANAND VISHWA GURUKUL. SENIOR NIGHT COLLEGE

AFFILIATED TO MUMBAI UNIVERSITY

THANE ( W )

This is to certify that

Mr.ABHISHEK SUNIL SONDKAR. Has T.Y.BAF Semester – VI, SEAT NO ;- 1090824 completed his
Project Work for the degree for Bachelor in Commerce (Accounting & Finance) under the Faculty of
Commerce and his project is entitled “E-WALLET, REFERENCE TO CUSTOMERS” under my
supervision.
I further certify that the entire work has been done by the learner under my guidance and that no part of it
has been submitted previously for any Degree of any University.

It is his own work and fact reported his personal finding and investigations.

________________ __________________

PROJECT GUIDE EXAMINER

_____________ _________________

CO-ORDINATIOR PRINCIPAL
 DECLARATION

I the undersigned MR. ABHISHEK SUNIL SONDKAR.here by, declare that the work
embodied in this project work titled “E-WALLET, REFERENCE TO CUSTOMERS’’
form my own contribution to the research work carried out under the guidance of Mr.Aashish
mule is a result of my own research work and has not been previously submitted to any other
Degree to this or any other university.
Wherever reference has been made to previous works of others, it has been clearly indicated
as such and included in the bibliography.

I, here by further declare that all information of this document has obtained and presented in
accordance with academic rules and ethical conduct.

Date:-

________________________

Signature of the learner

 ACKNOWLEDGEMENT

To list who all have helped me is difficult because they are so numerous and the depth is so
enormous.

I would like to acknowledge the following as being idealistic channels and fresh dimensions
in the completion of this project.

I take this opportunity to thank the University of Mumbai for giving me chance to do this
project.

I would like to thank Principal, MRS.HARSHALA P. LIKHITE for providing the

necessary facilities required for completions of this project.

I take this opportunity to thank our Coordinator Prof. Vinayak Joshi, for her moral support
and guidance.

I would also like to express my sincere gratitude towards my project guide

Prof. Ashish mulay. Whose guidance and care made the project successful.

I would like to thank my College Library, for having provided various reference books and
magazines related to my project.

Lastly, I would like to thank each and every person who directly or indirectly helped me in
the completion of the project especially my Parents and Peers who supported me throughout
my project.
 INDEX

CHAPTER SERIAL PARTICULAR PAGE

NO. NO. NO.
1. - INTRODUCTION 1

1.1 Meaning of E-Wallet 3

1.2 The Origin of Digital Payment/E-Wallet 4

1.3 Emergence of E-Wallets in India 5

1.4 What is E-Wallet? 6

1.5 E-Wallet-why have one? 7

1.6 What is an E-Wallet made of? 8

1.7 Data Transaction Process 9

1.8 Features of E-Wallet 9

1.9 Advantages of having E-Wallet Strategy 10

1.10 Benefits to using a E-Wallet 10

1.11 Types of E-Wallets permitted in India 11

1.12 Who can issue wallets in India 12

1.13 Types of E-Wallets in India 14

2. - RESEARCH METHODOLOGY

2.1 Introduction. 34

2.2 Objective. 34

2.3 Hypothesis. 34

2.4 Scope of the study 34

2.5 Limitation of the study. 35

2.6 Significance of the study. 35

 2.7 Sample Size. 35

2.8 Data collection. 35

2.9 Techniques and tools used in Research 35

3. - REVIEW OF LITERATURE 36

4. - DATA ANALYSIS, INTERPRITAION AND 47

PRESENTATION

5 - CONCLUSION AND SUGGETION 70

BIBLIOGRAPHY

ANNEXURE
 CHAPTER 1. INTRODUCTION

1,1 INTRODUCTION TO E-WALLET

In everyday life, people used to carry many different types of cards. These cards include credit cards,
debit cards, driving license, transportation passes, loyalty cards and many other types of cards. These cards
are typically carried in a wallet or purse. A person may need to use any number of cards during the course of
a day. Many people also carry mobile devices with them, such as smart phones, tablets, laptops, and iPad
etc.

A person that carries a wallet or purse also has to secure the contents of the wallet or purse at all times to
protect against theft and fraud. If a card is lost or stolen, it can be used in unauthorized ways, leading to
identification theft, fraud, or financial loss. In addition, as many transactions are increasingly performed
without the need for physically possessing the card (e.g., online purchases), the mere exposure of the
information found on a card to an unauthorized person is a risk to the card holder.

Thus, there is a need arises to reduce the number of cards carried by a person, and an opportunity to
address that need using some technology which can exterminate the use of wallets and cards system. In
addition, there is a need to secure card and card’s information so that a card and its information is not
exposed to unauthorized people.

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 E-Wallet (Electronic Wallet) also known as Digital Wallet is an Unified Payment Interface which acts as
platform by which one person can transfer money to other in fractions of seconds. It is an online prepaid
account wherein one can stock money, to be used when required. As it is a pre-loaded facility, a person can
buy a wide range of products varies from booking airline tickets to buying grocery items without swiping a
debit or credit card.

E-Wallet is a type of Electronic card which is used for transactions made online through computer or a
smart phone. It is a type of pre-paid account in which user can store his or her money for any future online
transactions. An E-wallet is protected with the password. With the help of E-wallet, one can make payments
for groceries, online purchases and flight tickets, among others. E-wallet has mainly two components
software and information. For purchasing anything, the people do not have rushes to ATM’s or banks to
withdraw cash rather transactions can be done there and then in a fraction of seconds.

The utility of E-wallet is same as a credit or debit card. An e-wallet needs to be linked with the
individual's bank account to make payments. The main objective of E-Wallet is to make paperless money
transaction easier.

E-wallet has mainly two components, software and information. The software component stores personal
information and provides security and encryption of the data. The information component is a database of
details provided by the user which includes their name, shipping address, payment method, amount to be
paid, credit or debit card details, etc.

For setting up an E-wallet account, the user needs to install the software on his/her device, and enter the
relevant information required. After shopping online, the E-wallet automatically fills in the user’s
information on the payment form. To activate the E-wallet, the user needs to enter his password. Once the
online payment is made, the consumer is not required to fill the order form on any other website as the
information gets stored in the database and is updated automatically.

Wallet in the conventional sense of the term refers to a purse or folding case for safely holding money or
personal information such as identity card. Digital or Electronic Wallet (e-wallet) refers to an electronic,
internet based payment system which stores financial value as well as personal identity related information.
Such electronic payment systems enable a customer to pay online for the goods and services, including
transferring funds to others, by using an integrated hardware and software system. Hardware can be a mobile
or computer. Communication between the buyer and the seller may happen over the internet or blue tooth or
2
on mobile network. Thus, e-wallet is nothing but an online money account which does not require the use of
a physical card for undertaking transactions/remittances. Unlike savings bank accounts, they, at present, do
not offer any interest for keeping money in it, but rewards the holders through cash-backs for making
purchases through it. Unlike credit cards, e-wallets are pre-loaded money. Hence, it resembles more to a
debit card.

E-wallet is a component of the payment system. The word payment system is defined in India to mean a
system that enables payment to be effected between a payer and a beneficiary, involving clearing(wherein
the payment service provider acts as a counterparty between the buyer and seller by calculating the
obligations between them and guaranteeing its settlement), payment (act of paying or transacting) or
settlement service (the final act of changing the records of ownership of the asset transacted, either after
netting all the cross obligations or on gross terms) or all of them. A payment system as understood in India
can include the systems enabling credit card operations, debit card operations, smart card operations, money
transfer operations or such similar operations.

In India, e-wallet comes under the legally recognized term - Pre-paid Payment Instruments. Pre-paid
Payment Instruments (PPIs) are defined in the RBI Guidelines issued under the Payment and Settlements
Systems Act, 2005 as payment instruments that facilitate purchase of goods and services, including funds
transfer, against the value stored on such instruments. The value stored on such instruments represents the
value paid for by the holders by cash, by debit to a bank account, or by credit card. The pre-paid instruments
can be issued as smart cards, magnetic stripe cards, internet accounts, internet wallets, mobile accounts,
mobile wallets, paper vouchers and any such instrument which can be used to access the pre-paid amount.
Unlike other pre-paid payment instruments, e-wallet is only an internet based online account, sans the
existence of a physical card. Mobile wallet is an e-wallet where the mobile phone gets doubled up as an
electronic wallet. Being a pre-paid payment instrument, digital / e-wallets are also subject to the regulations
stipulated by RBI for such instruments.

3
1.2 The origin of digital payments/E-wallets

The form of digital payments can be traced back to 1997, when Coca Cola launched a few vending
machines in Helsinki that let customers purchase a can via text messages. Though very different from
modern day e-wallet transactions, this is believed as the origin.

Soon, mobile devices became the means to buy movie and travel tickets, hotel bookings, and ordering
food. By 2003, around 95 million cell phone users had used a mobile device to make a purchase.

Google became the first major company to launch a mobile wallet in 2011. With NFC (near field
communications) technology, consumers could pay, earn loyalty points, and redeem coupons. Despite the
fact that it was used on only one phone model and was accepted only by a handful of merchants, it proved to
be very popular.

2012 saw Apple’s Passbook, which, though not for mobile payments, could be used for boarding passes,
tickets, and coupons. Apple Pay came two years later. Launched in the US, it quickly spread to the UK and
China. 2015 brought Android and Samsung Pay.

Ever since, digital wallets like GrabPay, Lazada Wallet, PayPal, Touch n Go, vcash, and many more,
have made this mode of payment quite popular. A Juniper Research study predicts that globally almost 2.1
billion consumers will use a mobile wallet to make a payment or send money in 2019.

4
1.3 Emergence of e-wallets in India; how the payments industry is growing rapidly

India is traditionally a cash-based economy, with the value of physical currency in circulation estimated to be
over 11% of GDP, one of the highest among emerging economies. However, till date a large proportion of India’s
population is unbanked and has limited access to technology-enabled financial services. The Government of India
and the central bank have laid significant emphasis on financial inclusion and making banking and payment
services accessible to all. Non-bank players such as telcos (through mobile money services) and business
correspondents (BCs) — entities that assist banks in providing basic banking services in rural areas — have also
contributed toward financial inclusion. The payments industry is growing rapidly, driven by aspirational consumers,
rising personal consumption expenditure, urbanization and electronification. Banks have traditionally played a
central role in providing payments services; however, the landscape is evolving with active participation from
nonbanks in the electronic payments and remittance space. The key driving factors for electronification of payments
in India are increasing smartphone penetration, growth in digital commerce, improvement in computer literacy,
access to internet and broadband, and supporting regulations.

Digital prepaid wallet operators have gained widespread adoption in recent times and have built a substantial
consumer base. It is estimated that the two leading digital wallet operators in the country together have over 117m
stored value wallet accounts. Wallets started with basic services such as telecom recharge and bill payments but are
now available as payment options on most popular online merchants. The next focus area for wallet companies is
creating a physical acceptance infrastructure at brick and mortar retailers for wallet payments. Wallets providers
have simplified the transaction experience and combined it with multiple promotional offers to gain traction. Due to
a sizeable customer base, wallets can potentially drive transaction volumes at merchants and, as a result, major e-
commerce merchants in India have partnered with leading wallet players.

5
1.4 What is an E-wallet? Definition and examples

An e-wallet is a digital system that stores a person’s payment information. ‘Digital’ means it exists
purely electronically. It is a secure, online wallet. The term is short for ‘electronic wallet,’ i.e., the ‘e’ of e-
wallet stands for ‘electronic.’ We also call it a digital wallet.

The e-wallet stores users’ cards digitally so that they can buy things electronically, i.e., online. If you
have this kind of wallet, you can pay for things online using your laptop, tablet, or smart phone.

You can also use your digital wallet to pay for things in some cafes and shops that you physically visit.

Some e-wallets store your loyalty cards, insurance cards, and driver’s license. They can also store your
health card plus other IDs that you’d normally keep in a traditional wallet.

An e-wallet may also refer to where people store their crypto currencies, i.e., it may mean a crypto
currency wallet.

A crypto currency is a type of digital money, i.e., money that exists purely online. Bitcoin, for example, is
a crypto currency.

Collins Dictionary has the following definition of e-wallet:

“Computer software in which digital cash may be stored for use in paying for transactions on the
internet.”

6
1.5 E-wallet – why have one?

E-wallets aim to eliminate the need for people to carry traditional wallets. Their biggest advantage, so
claim e-wallet creators, is security.

It is far more difficult to steal a digital wallet than a traditional one.

Even though it is supposedly more secure, e-wallet owners lose some of their privacy.

Traditional wallets to not track our purchases. They do not have information on our shopping habits. E-
wallets do, i.e., they keep records of what you bought.

Companies can get hold of that data. It is useful for marketing executives because then they know who to
target with, for example, specific advertisements.

7
1.6 What is an E-wallet made of?

E-wallets consist of two things:

 The data, and

 The software.

Data

Data is all the information that the digital wallet user provides. This includes the user’s address, card details,
and name.

Software

Software, i.e., computer programs, makes sure that the wallet stores all the information properly. The
software also secures the data by encrypting it.

To be able to use your digital wallet, you must install the software in your electronic device first. Without it,
your wallet is useless.

When you have installed the software, it then gathers all the relevant data and stores it.

8
1.7 E-wallet transaction processes

E-wallets do not all have the same transaction process. The process that each wallet uses depends on the
software that makes it function.

With some wallets, you have to insert your password to confirm a transaction.

Other wallets, on the other hand, may give the user a unique identification code for each transaction.

Many companies have their own digital wallets. For example, the Apple company has Apple Pay, while
Microsoft has Microsoft Wallet. There is also Samsung Pay, Alipay, Mobikwik, Paytm, and many more.

1.8 FEATURES OF E-WALLET

 All ID information in one location.

 Current balance can be stored and read.
 Universal access.
 Can not be duplicate.
 Works with all scan types for example Barcode, RFID, Strip, etc.
 No separate card reader is required to access E-wallet.
 Virtual Money storage.
 To perform cash in process.
 To perform cash out process.
 Money Transfer.
 Security.
 Portability.
 Rewarding System.
 Backup Facility.

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1.9 Advantages of having E-Wallet Strategy

 A competitive differentiation for businesses.

 Instant payment and higher conversion rate for customers.
 The mobile device has become more significant for users today.
 E-wallet ensures smooth transfer of payments from one party to another.
 It provides a database marketing opportunity to marketers.
 E-wallet ensures cost savings for the business by ensuring transparency in payments.
 Since the business can reach out to a larger number of customers, the revenue would automatically
rise.
 Location based services helps businesses in doing customized promotions for their customers.

1.10 Benefits to Using a E-Wallet

1. They may help to reduce fraud.
The data stored in mobile wallets is encrypted, meaning your actual card account numbers aren’t
transmitted while making a payment. Mobile wallets use random payment codes that cannot be
used again and often rely on certain security features, including biometrics, to authorize a payment.
Furthermore, your full card account number isn’t displayed anywhere in a mobile wallet, meaning
prying eyes won’t be able to capture your card number for future use. In addition, your transactions
are covered by the same security and privacy protections as your physical cards.
2. They can save you time.
With a mobile wallet, you can pay quickly by holding your phone over the payment terminal and
verifying the purchase. Most transactions can be completed in just a few seconds.
3. You can trim your wallet contents.
In addition to credit and debit cards, certain mobile wallets also can store loyalty cards and gift
cards, allowing you to have them on hand at all times – without putting a bulge in your wallet.
4. You can shop online on the go.
Forget about typing in card numbers when shopping online from your phone – you can pay for
some purchases with your mobile wallet. Using a mobile wallet instead of a card on file when you
shop online means you can reduce the number of places where your card numbers are stored, without
sacrificing a speedy checkout.
5. You still receive rewards.
If your card offers cash back or other rewards, you’ll still receive those when using that card in a
mobile wallet. In fact, when you always have your virtual card on-hand, it may even be easier to rack
up rewards.
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 1.11 Types of E-wallets permitted in India

As per the Reserve Bank of India, there are three kinds of e-wallets in India: closed, semi-closed and open.

 Closed e-wallets: These are wallets issued by an entity for facilitating the purchase of goods and
services from it. These instruments do not permit cash withdrawal or redemption. As these
instruments do not facilitate payments and settlement for third party services, issue and operation of
such wallets are not classified as payment systems. Hence, RBI approval is not required for issuing
them.

For Example, Cab services, e-commerce and mobile companies create e-wallets for making
payments towards purchase of products from them /for usage of their services. They provide cash
backs for payments made through this channel. This is one way of ensuring loyalty of their
customers.

 Semi-Closed e-wallets: These are wallets which can be used for purchase of goods and services,
including financial services at a group of clearly identified merchant locations/ establishments which
have a specific contract with the issuer to accept them. These wallets do not permit cash withdrawal
or redemption by the holder. Wallets for amounts upto Rs.10,000/- can be created under this category
by accepting minimum details of the customer, provided the amount outstanding at any point of time
does not exceed Rs. 10,000/- and the total value of reloads during any given month also does not
exceed Rs. 10,000/-. Amount up to Rs.50,000/- can be created in wallets by accepting any ‘officially
valid document’ which is compliant with anti-money laundering rules. Such wallets are non-
reloadable in nature. Amount up to Rs.1,00,000/- can be created by with full Know Your Client
norms (KYC) and can be reloaded.

 Open e-wallets: These are wallets which can be used for purchase of goods and services, including
financial services like funds transfer at any card accepting merchant locations [point of sale (POS)
terminals] and also permit cash withdrawal at ATMs/Banking Correspondents (BCs). However, cash
withdrawal at POS is permitted only upto a limit of Rs.1000/- per day subject to the same conditions
as applicable to debit cards (for cash withdrawal at POS).

For Example, M-Pesa is an open wallet run by Vodafone in partnership with ICICI Bank. Axis
Bank’s E-Wallet Card can used for making payments on sites that accept Visa cards with a minimum
limit of Rs 10 and a maximum limit of Rs 50,000 and a validity of 48 hours.

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 1.12 Who can issue wallets in India?

 Only those companies incorporated in India and have a minimum paid-up capital of Rs. 500 lakh and
minimum positive net worth of Rs. 100 lakh at all the times are permitted to issue wallets in India.

 In India, Banks who comply with the eligibility criteria are permitted to issue all categories of
wallets. However, only those banks which have been permitted to provide Mobile Banking
Transactions by the RBI are permitted to launch mobile based wallets. Non-Banking Financial
Companies (NBFCs) and other persons are permitted to issue only closed and semi-closed wallets.

 Persons authorized under Foreign Exchange Management Act (FEMA) can issue foreign exchange
wallets and where such persons issue such instruments as participants of payment systems authorized
by the Reserve Bank of India, they are exempt from the purview of strict guidelines related to pre-
paid instruments. However, the use of such wallets is limited to permissible current account
transactions and subject to the prescribed limits under the Foreign Exchange Management (Current
Account Transactions) Rules, 2000. Otherwise, use of wallets for cross border transactions is not
permitted.

 RBI has recently given permission to certain entities to open payments banks and small finance
banks. The basic idea is to further the process of financial inclusion. These banks in the coming
years are expected to make a remarkable change in online transactions by popularizing mobile
payments through e-wallets in rural areas.

 Government of India has adopted the stand that promotion of payments through cards and digital
means will be instrumental in reducing tax avoidance, migration of Government payments and
collections to cashless mode, discourage transactions in cash by providing access to financial
12
 payment services to the citizens to conduct transactions through card/ digital means and shifting
payment ecosystem from cash dominated to non-cash/less cash payments. On 24 February 2016
Government suggested certain proposals for the promotion of payments through digital means. The
essential features of the proposals for promotion of payments through cards and digital means
include steps for withdrawal of surcharge/service charge/ convenience fee on card/ digital payments
currently imposed by various Government Departments/organisations and introduction of appropriate
acceptance infrastructure in Government Departments/ organisations; rationalization of Merchant
Discount Rate (MDR) on card transactions and a differentiated MDR framework for some key
transaction segments; mandating payments beyond a prescribed threshold only in card/ digital mode;
introduction of formulae linked acceptance infrastructure by the stakeholders of certain card
products; rationalisation of telecom service charges for digital financial transactions; promotion of
mobile banking; and creation of necessary assurance mechanisms for quick resolution of fraudulent
transactions and review the payments ecosystem in the country.

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 1.13 Types of E-Wallets in India

1. Paytm:

 Paytm, founded by Vijay Shekhar Sharma, a common man from Delhi, owned by One97
Communications, is a digital payments platform that allows you to transfer cash into the integrated
wallet via online banking, debit cards, and credit cards, or even by depositing cash via select banks
and partners. Using the money in the Paytm wallet, you can pay for a number of goods without using
cash. Among the transactions you can make on Paytm are recharges for mobile phones, metro cards,
DTH cable, data cards, etc, as well as post-paid payments for mobile phones, landline/ broadband,
electricity, water and gas bills, etc. You can also book tickets for buses, trains, flights, movies, hotel
rooms, etc. and pay for Uber cab rides using the platform. Additionally, you can buy goods on the
company’s e-commerce platform using the wallet, and even make offline payments at over 8 lakh
merchants, and rising at a quick rate.
 In 2016, Paytm launched movies, events and amusement parks ticketing as well as flight ticket
bookings and Paytm QR. Later that year, it launched rail bookings and gift cards. Paytm's registered
user base grew from 11.8 million in August 2014 to 104 million in August 2015. Its travel business
crossed $500 million in annualized GMV run rate, while booking 2 million tickets per month.

 In 2017, Paytm became India's first payment app to cross over 100 million app downloads. The same
year, it launched Paytm Gold, a product that allowed users to buy as little as ₹1 of pure gold online.
It also launched the Paytm Payments Bank and ‘Inbox’, a messaging platform with in-chat payments
among other products. By 2018, it started allowing merchants to accept Paytm, UPI and Card
payments directly into their bank accounts at 0% charge. It also launched the ‘Paytm for Business’
14
 app, allowing merchants to track their payments and day-to-day settlements instantly. This led its
merchant base to grow to more than 7 million by March 2018. In March 2015, Paytm received its
funding from Chinese e-commerce Company Alibaba Group based in Hangzhou, China, after Ant
Financial Services Group, an Alibaba Group affiliate, took 25% stake in One97 as part of a strategic
agreement. Soon after, it received backing from Ratan Tata, the MD of Tata sons.

 Paytm Wallet is the digital payment instrument where you can transfer money from your bank
account or credit card to use for transactions on the platform. You need to set up an account using
your mobile phone number and email ID to setup a Paytm account and transfer cash to the wallet.
You can add up to Rs. 10,000 in a month in the Wallet; if you want to increase the monthly limit,
then you can get the KYC (Know Your Customer) processor done. With this, you can have up to Rs.
1 lakh in the Paytm Wallet at any point of time.

In order to use the Paytm Wallet and transact cash-free, follow the steps below:

 Set up a Paytm account using your mobile number and email ID

 Add some money to your Paytm Wallet using net banking, debit card, or credit card
 To transfer money to someone else, select the 'Pay or Send' option
 You can make payments to others or to bank accounts on Paytm by scanning a QR code
 Alternatively, you can send money to another Paytm user via their phone number.

Paytm uses VeriSign-certified 128-bit encryption technology, which means that the secret key used in
transactions is a sequence of 128 bits and does not reveal anything about the password length or
contents. The platform is PCI DSS 2.0 certified, which means it does not store credit card data in
unencrypted form.

15
 2. Google pay:

 Google has made online payments a whole lot easier. In February 2018, the company announced its
combining all of its different payment methods into one unified brand, called Google Pay. The
Android Pay app is now being rebranded to Google Pay, and the Google Wallet app is now called
Google Pay Send. Eventually, the Google Pay app will also have peer-to-peer transactions, allowing
users to send and receive money.

 Google Pay is already a great way to send money to your friends, but it looks like Google is
considering adding a new feature that may add sending payments a little easier for some. According
to a new report from XDA Developers, Google is set to add QR codes as a way to initiate a peer-to-
peer payment. The option will reportedly show up in the “Send” tab of the app. As the report notes,
it’s unlikely that the feature will be easier than simply picking a contact from your contact list, but if
you need to send money to someone you just met, it could come in handy.

How to use Google Pay — Step-by-step instructions:

 Unlock your phone and make sure NFC is turned on.

 Hold the back of your device close to the payment terminal for a few seconds.
 Wait until the payment is completed — a blue check mark will appear on your screen when it is.
 If required, enter your PIN code or sign the receipt.

16
 Google Pay supports more than 1,000 banks in the U.S. including the big players like Bank of
America, Chase, and Citibank, as well as tons of smaller ones. We won’t mention them all in this
post, but you can head over to Google’s support page to see the entire list.
 In addition to the U.S., you can use Google Pay in the 27 countries listed below. New territories are
added all the time, so check the most-recent list of supported banks for each region here.
 Australia
 Belgium
 Brazil
 Canada
 Chile
 Croatia
 Czech Republic
 Denmark
 Finland
 France
 Germany
 Hong Kong
 Ireland
 Italy
 Japan
 New Zealand
 Norway
 Poland
 Russia
 Singapore
 Slovakia
 Spain
 Sweden
 Taiwan
 Ukraine
 United Arab Emirates
 United Kingdom

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3.MobiKwik:

MobiKwik is an Indian company founded in 2009 that provides a mobile phone based payment system and
digital wallet. Customers add money to an online wallet that can be used for payments. In 2013 the Reserve
Bank of India authorized the company's use of the MobiKwik wallet, and in May 2016 the company began
providing small loans to consumers as part of its service. The company launched its MobiKwik Lite mobile
app in November 2016, designed for users of older 2G mobile networks and for those in areas with poor
internet connectivity. In November 2016, the company reported having 1.5 million merchants using its
service and a user base of 55 million customers. MobiKwik was founded in 2009 by husband and wife team
Bipin Preet Singh and Upasana Taku.

How to Use/ Register for Mobikwik app

Step 1: Download the app and launch it

Step 2: Open the app and enter your registered mobile number. Click the ‘Send OTP’ option after that.
You will receive an OTP. Enter it for the verification process

Step 3: You have successfully registered on Mobikwik.

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4.Oxigen Wallet:

Oxigen Services India Pvt. Ltd. is an ISO 9001:2008 certified FinTech company, is one of the major
payment solutions providers in India. It is involved in micropayment of services and remittances in real time.
The company was started in 2004 by an alumnus of IIT Roorkee with the help of Blue Label Telecom, and
the company was listed on the South African Stock Exchange. The payment solutions provider allows
customers to make mobile/DTH recharges, money transfers through banks and the Oxigen Wallet, utility bill
payments, and other similar payments. The firm reportedly has a retail footprint of 200,000 active outlets
with 2 billion transactions processed as of January 2016. In June 2016, it was reported that the transaction
volume rate of Oxigen was 600 million transactions per annum with a customer base of more than 150
million.

You can sign-up or register with us using any of the following three ways:

 Download the Oxigen Wallet App and register.

 Visit our website (www.oxigenwallet.com) and fill up a simple form to register.
 Via SMS: Type Oxigen*Agree*DOB (DDMMYY)*Full Name and send an SMS on 9870888888 to
create your wallet through SMS. By sending this SMS, you accept having read, understood and
agreed to the Oxigen Wallet terms and conditions as stated at www.oxigenwallet.com

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6.Citrus Wallet/Pay:

 Citrus Wallet is your money manager. It allows you to tackle your money transferring and requesting
needs with a single tap!! You can split bills with friends when you’re eating out and even gift money
to dear ones who are far from home! Then there is the request feature, which everybody loves! Not
only can you as friends for money, you can also remind friends that they owe you money. Without
those supremely awkward conversations of course!

 It also powers zero click checkouts at select merchants such as Meru. Power packed with features
that boost your checkouts and make your online payment experience seamless; Citrus Wallet is your
pass to hassle free online payments. By virtue of being an RBI approved prepaid instrument Citrus
Wallet is as safe as a diamond vault.

 You can spend the money loaded onto your Citrus Wallet account for a variety of things. You can
send money to or request money from friends and family. You can split bills with your friends when
you dine out, collect money for movie tickets from your friends, remind friends that they owe you
money and more! You can of course also use it to pay with select merchants online.

How do I put money in my account?

There are three ways of putting money into your account :

 Request your friends to send you money on Citrus Wallet!

 Get gift cash from Citrus for being a loyal customer.
 Load money yourself because no one else will.

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6.ItzCash:

 The ItzCash E-Wallet account is a virtual payment account which identifies your registered email or
mobile number as your account. You can get further details online at our E-Wallet site, or visit your
nearest ItzCash world franchisee outlet to subscribe and activate your ItzCash E-Wallet Account.

 The ItzCash E-Wallet empowers people to make virtual payments at any of our merchant partners in
India. You can book railway tickets, buy movie tickets, recharge your mobile, transfer balance,
reload the account and much more. All you need to acquire an ItzCash

 E-Wallet account, is your Mobile Number and Email verification, absolutely FREE.

 For free registration go to our Registration page, enter you details and click on register.

 Enter your details like Name, Mobile number and Email ID. After you submit, you will receive an
email and SMS for account details and verification information. Verify your email ID by clicking on
the link provided in the email. Alternately, visit our ItzCash E-Wallet site and login with the
credentials as mentioned in the mail and verify your email by entering the verification code received
in your email. Verify mobile number, by sending an SMS from your registered mobile number. Type
MV and send it to 7200057575. That’s it; you are now the owner of an e-wallet account!

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7.FreeCharge:

 FreeCharge was started in August, 2010 by Kunal Shah and Sandeep Tandon. FreeCharge is a digital
marketplace for financial services and products. FreeCharge services are available across a range of
financial instruments including savings, payments, insurance, and investment and lending. The
company’s focus is to create an ecosystem of innovative products and features that enables cashless
transactions. FreeCharge consumers can pay utility bills (Electricity, Gas), pay Landline bills or
recharge Mobile, Broadband, DTH and Metro cards. In addition, FreeCharge powered by Axis Bank
enables the users to invest in mutual funds and get easy credit through FreeCharge EMI.

 FreeCharge UPI and payment gateway allows consumers to instantly send or receive money, shop at
leading offline and online merchants across categories movies, entertainment, food, shopping, travel
to get cash back & discounts. On 8 April 2015, Snap deal acquired FreeCharge in what is being
referred to as the second biggest takeover in the Indian e-commerce sector so far, after the buyout of
Ibibo by rival MakeMyTrip, and the biggest venture capital exit in India to date. The deal was for
approximately US$400 million as cash and stock. On 27 July 2017, Axis Bank acquired FreeCharge
for $60 million.

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8. Axis Bank Lime/PayGo:

 Axis PayGO offers a payment solution to corporates/educational institutes/gated communities in

India that allows their employees/ students/members to make contactless and cashless payments in a
secure manner.

 Employees / Students / Members / Interested parties can make payments on the go with Axis PayGO,
just by tapping their ID card or Mobile Handset or NFC (Near Field Communication) card at a pre-
defined merchant outlet’s terminal.

 To enable PayGO at corporates/educational institutes/gated communities, write to us at

paygo.services@axisbank.com with your contact details. We will be happy to enable your campuses
with contactless payment technology.

 Pay on the Go with Axis PayGO.

 Axis PayGo is a way to cashless transactions by just tapping ID cards on merchant terminal. Axis
PayGo Wallet makes payments in exact amounts with an advantage to check cash balance and load
though App or SMS and free transaction alerts.

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  To create Axis PayGo Wallet you need to click on “Create Axis PayGo Wallet” and authenticate it
with your debit card or net banking. After entering the credentials including OTP, the process is
completed and you just can load money to your PayGo Wallet.

 Three easy steps to create your Axis PayGO wallet:

 Click create your PayGO wallet
 Authenticate using your Debit Card or Internet Banking
 Provide your Card ID number, Employee / Student ID, Organisation’s name
 Enter OTP sent to your registered mobile number

9. Airtel Money:

 Airtel Payments Bank came into being with the aim to support the Indian Government’s cashless
revolution, and introduced numerous products and services to benefit our customers. Airtel Money -
our digital wallet - is one such product that allows our customers to recharge, pay bills, shop online
and do much more in just a click.

 To cater to different sets of users, we have different types of wallets, which are as follows:

 Minimum KYC Wallets

Minimum KYC wallets can be opened with details such as customer name, date of birth, pin code,
mobile number and any type of POI. With this wallet, our customers can easily engage in credit/debit
transactions. Valid for a tenure of one year, it comes with a limit of ₹10,000 and is quite handy for
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 fast-track payments such as recharges, utility bills and more. It is accessible to non-Airtel network
users as well.

 Full KYC Wallets

Full KYC Wallets come with an enhanced limit of ₹1 Lac so that customers need not worry about
running short of digital money. Full KYC wallet users can easily engage in credit/debit transactions,
besides online shopping. Our customers can also shop using a prepaid card linked to the wallet and
avail exciting discounts and cash back on movies, travel tickets, hotel bookings, lifestyle shopping
and more. Even if you are shopping offline, you can always find a merchant near you and shop using
the Airtel Money Wallet.

Steps to Open Airtel Payments Bank Account :

 Go to Airtel Bank Official Website.

 Get Started with Creating Bank Account.
 Enter the OTP Code.
 Fill Name, Date of Birth and other details.
 Account Created!

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10. ICICI Pockets:

What is Pockets?

 It’s a VISA-powered e-wallet that customer of any bank can use to recharge mobile, send money,
shop anywhere, pay bills and much more.

 Pockets wallet also comes with a physical shopping card which can be used to shop on any website
or retail stores.

 To get started with Pockets, all you have to do is download the app, enter your basic details, verify
your mobile number and create a user ID & password of your choice. Pockets are not just for ICICI
Bank customers. Even customers of any other bank can download and use it instantly.

 In case you are an existing ICICI Bank customer, your internet banking user ID & password is all
you need to get started. You can both download and login to Pockets app on you mobile or simply
login to Internet Banking, go to 'My Accounts', select Pockets and create your wallet instantly.

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11. Jio Money:

JioMoney – Your simple, smart and secure ‘one-app’ solution to everyday transactions on the go.
JioMoney is much more than a wallet. It empowers you to pay everywhere in a cash-free way. With
JioMoney, you can do mobile and DTH recharges, make everyday payments, send/receive money, pay
insurance and other premiums, manage your finances, get great deals, and more:

• Make bill payments for MSEB, BSES, BEST, Mahanagar Gas, Gujarat Gas, GEB, and others

• Do your mobile recharge and pay bills for Airtel, Vodafone, Idea, BSNL, Reliance, MTNL, Aircel,
Uninor, Tata Docomo, Cellone, and others

• Pay for DTH recharges for Dish TV, Tata Sky, Airtel DTH, Videocon D2H, Sun Direct, BIG TV,
and others

• Pay insurance premiums

• Pay for online shopping at leading stores like Archies, Book my show, Clarks, Groupon, Imagica,
Starbucks, and thousands more

• Send and receive money to and from family and friends

• Get great deals, coupons and cash back directly on your mobile phone from local merchants

• Digitize not just your money but also your loyalty points.

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12. mRupee:

 Domestic handset maker Intex has partnered with mRUPEE, a Tata Teleservices subsidiary, to
launch mobile wallet 'Intex My Wallet'.

 The wallet will offer easy and quick integrated payment functionalities and conveniences within the
device related to recharge, money transfer, shopping, booking train, movie, bus tickets and more in
just one click, Intex said in a statement.

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13. SBI Buddy:

 State Bank of India (SBI) introduced an e-wallet named SBI Buddy in August 2016 to promote
cashless transactions amongst the citizens of the country. However, few people paid attention to it or
other digital wallets until the day after the announcement of demonetization. From November 9,
2016 onwards, Indians realized the necessity of e-wallets and started downloading them on their
smartphones. Some of these apps have become quite popular since then and one of leading apps
people are using regularly is SBI Buddy.

 SBI Buddy, previously known as eRupee, is an e-wallet app that you can install from your Google
Play or Apple App Store. You can start using it by simply registering your mobile number. In fact,
you do not even need to have an account in SBI to use SBI Buddy.

 One of the USPs of SBI Buddy is that it is available in 13 languages. Once you have downloaded the
SBI Buddy app, you can register your mobile number to start using it. Being a digital wallet, you
need to fund it by adding money to start making bill payments or sending money.

 It is a free app; you only need to be connected to the internet to use it.
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14. Vodafone M-Pesa:

 M-Pesa is a mobile phone-based money transfer, financing and microfinancing service, launched by
Vodafone for Safaricom and Vodacom, the largest mobile network operators in Kenya and Tanzania

 M-Pesa is a fast, secure and convenient way to transact on mobile brought to you by Vodafone,
through its wholly owned subsidiary Vodafone M-Pesa Limited (VMPL) in association with ICICI
Bank.

 VMPL has been authorized by Reserve Bank of India (RBI) under Payment and Settlement Systems
Act, 2007 for Setting up and Operating a Payment System in India. VMPL is also a business
correspondent of ICICI Bank.

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15. HDFC PayZapp:

 HDFC Bank PayZapp is a complete payment solution, giving you the power to pay in just One Click.

 With PayZapp, you can shop on your mobile at partner apps, buy movie tickets, groceries, compare
and book flight tickets and hotels, shop online and get great discounts at Smart Buy, send money to
anyone in your contact list or to your bank account, pay bills and recharge your mobile, DTH and
data card and many more.

 You can link your Debit and Credit Card, of any Bank, to PayZapp and enjoy the most convenient
and secure way of payment.

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16. PhonePe:


PhonePe received its license to operate on 26 August 2014 and began operations in December, 2015.
However, in April 2016, the company was acquired by Flipkart. Flipkart's Vice President in
Marketing, Sameer Nigam was assigned as their new CEO.

 PhonePe is a financial technology company headquartered in Bangalore, India. It was founded in

December 2015 It provides an online payment system based on Unified Payments Interface (UPI),
which is a new process in electronic funds transfer launched by National Payments Corporation of
India (NPCI).

 It is licensed by the Reserve Bank of India for issuance and operation of a Semi Closed Prepaid
Payment system.

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17. Apple Pay:

 Apple Pay Cash and your credit and debit cards are in the Wallet app along with boarding passes, tickets,
rewards cards, and more. You can also add your student ID card to Apple Wallet to access places like your
dorm and the library, or to pay for things like laundry and snacks on campus. Apple Pay works with most
credit and debit cards from nearly all U.S. banks. Just add your participating cards to Wallet and you’ll
continue to get all the rewards and benefits of your cards.

 Apple Pay is a mobile payment and digital wallet service by Apple Inc. that allows users to make
payments in person, in iOS apps, and on the web. It is supported on the iPhone, Apple Watch, iPad,
and Mac. It digitizes and can replace a credit or debit card chip and PIN transaction at a contactless-
capable point-of-sale terminal. Apple Pay does not require Apple Pay-specific contactless payment
terminals; it works with any merchant that accepts contactless payments. It is very similar to
contactless payments already used in many countries, with the addition of two-factor authentication
via Touch ID, Face ID, PIN, or passcode. The service lets Apple devices wirelessly communicate
with point of sale systems by using a near field communication (NFC) antenna, a “dedicated chip that
stores encrypted payment information” (known as the Secure Element), and Apple's Touch ID and
Wallet.

 It is available in the United States, United Kingdom, Canada, Australia, Brazil, United Arab
Emirates, Saudi Arabia, Russia, China, New Zealand, Singapore, Japan, Taiwan, Hong Kong and
most recently Germany, as well as various other European nations. Apple Pay supports most major
credit card or debit card schemes, including American Express, Visa, MasterCard, and Union Pay.
Participating banks vary by region.

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 CHAPTER 2. RESEARCH METHODOLOGY

2.1 Introduction of the Study:-

E-Wallet (Electronic Wallet) also known as Digital Wallet is an Unified Payment Interface which acts as
platform by which one person can transfer money to other in fractions of seconds. It is an online prepaid
account wherein one can stock money, to be used when required. As it is a pre-loaded facility, a person can
buy a wide range of products varies from booking airline tickets to buying grocery items without swiping a
debit or credit card.
2.2 Objectives of the study:-

1. To study on E-Wallets.

2. To study the Different Types of E-Wallets in India

3. To reference form using e-wallet customers

2.3 Hypothesis:-

H0:- 70% Customers have done KYC on E-Wallet

H1:- More than 70% Customers have done KYC on E-Wallet

2.4 Scope of the study:-

1. This research project based on the study of E-Wallets in India.

2. The respondents are from only thane region.

2.5 Limitations of the study:-

1. This study is limited for E-Wallet customers sample size is 60.

2. It is limited up to Thane district because of geographical limitations.

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2.6 Significance of the study:-

1. This research study is beneficial to the customers and e-wallet companies.

2. It gives suggestions to customers regarding to E-Wallets available in India.

3. To understand behaviour of Customers regarding usage E-wallets

2.7 Data collection method:-

This Research project based on primary data and secondary data:-

1. The primary data collect through survey related E-Wallet. Using thane city

2.8 Sample size:-

In this research study sample size is use from the total universal.

2.9 Techniques and Tools in Research:-

This research used tools and techniques like:-

 Google forms
 Excel charts
 Excel sheet

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 CHAPTER 3. LITERATURE REVIEW

1. Digbijay (2019)¹, investigated that "Post E-commerce E-wallets now stymied by Government
Regulations “After e-commerce fight with government regulations it is now digital payments that is
starting at serious uncertainties own to sectors of regulations.

2. Indo Asian News (2018)², investigated that “Google Pay users can send and receive money”. Google
has been introduced the three new features to digital payments solutions Google pay. Google pay
includes the apps like Android pay and Google Wallet aimed at convenient and unified payments
service for the users.

3. Rahul Gupta (2018)3, stated that “Google Wallet may come to India soon”. Google has made it
mandatory for app development to embrace its wallet service or face exit. The Reuters states that the
Google is forcing Android app developers to adopt Google Wallet and failure to do so might result in
getting their apps suspended from the Android marketplace which is now known as the Google Play.
The Google Wallet service will initially meant for users who want to buy applications from Android
Market App developers who were earlier using payment services such as PayPal, Boku and Zong
will now have to resort Google wallet which charges a higher transaction fee or charges per
transaction resulting in lesser saving for the developers, ultimately lowering their profit margins per
app sale.

4. Malcolm Owen (2018)4, Observed that “Apple pay delayed in India over data storage and
Authentication rules”. Apple customer in India won’t be able to use Apple Pay in the country
anytime soon as a report claims number of road blocks are preventing the company from setting up

36
 its service in the potentially profitable market. The Economic Times reports that Apple had plans to
set up a Unified Payment Interface in India that would allow Apple pay to perform transactions with
banks in India. Apple is concerned with the Reserve Bank of India’s recently created data
localization rule which requires companies to store their payment data within India and the second
problem is that NCPI disagrees with the use of fingerprint recognition to authenticate payments
through UPI platform with its rules preventing on device Biometric Systems Touch ID from being
used in transactions. Instead of that NPCI would be require the use of four or six-digit numbers as
authorization.

5. Raviraj Parekh (2018)5, Observed “Google Pay Digital Payment App-Benefits & Features”. Google
pay is a digital payment app. This app also earlier known as Google Tez. It is recently renamed as
Google Pay. It will also offer’s pre –approved loans on the go in association with ICICI bank and
HDFC bank. Author explains the features and benefits of Google Pay and also knows the process of
getting started with digital wallet Google pay. This app works with all banks that support BHIM UPI.
You can send and receive money via Audio, Pay Utility Bills, Multiple Payment Options, Rewards,
Loan offers, etc. There is no additional cost of usage. Integration is very easy by API and No Fee is
involved.

6. Christian de Looper (2018)6, interpreted that “Sending money to a friend? Which is the best app for
that?”Money makes the world go around. Whenever you owe a friend for drinks or you need to send
rent money to your roommate the easier it is to transfer money to friends and family. In the rising of
modern technology there are plenty of great options for sending money to others. For example,
PayPal, Google Pay, Venmo, Square cash, Apple Pay Cash, etc. Author explains each applications
one by one.

7. Olivia Durden (2018)7, investigated that “Is your Debit card Information Safe with Google
Wallet?”It is safe and much safer than Google checkout. It gives option to secure your Private
information whenever you are paying for product on internet. You can store your credit and debit
cards on Google Wallet as well as many other payment methods and won’t had to keep re-entering
37
 that information every time you arrive at checkout. It does all of this with the help of encryption and
passkeys which keep your debit card information safe. Google wallet or e-wallet only works if the
device in question has secure element chip which stores payment information in separate place from
the main hardware and the operating system.

8. Chaim Gartenberg (2018)8, interpreted that “Google begin replacing Android Pay and Google
wallet with new app”. The New app called Google Pay. Google Pay is Google’s new unified
payments service which combines Google Wallet and Android Pay is finally rolling out with a new
app for Android devices. The App is classified or divided into two halves: a ‘Home’ tab which shows
recent payment activity, nearby local offers and stores, and other information using Google’s card-
style interface and a ‘card’ tab which is where all your individual credit, debit, reward and gift cards
live.

9. Saurabh Jain (2018)9, investigated that “Paytm-Build for India: Open Source Incubator”. India as a
country has a million problems we as citizens need to provide a million solutions. The country is
experiencing a demographic divided and we as Paytm want to channelize the energy of the youth to
provide solutions for the country. To solve all the problems Paytm have started Paytm-Build for
India initiative. They started open source Incubator in this initiative to promote open source project
within the country. Their intention is that they provide a bridge between the youth, industry,
government and institutions.

10. Michael Muchmore (2018)10, investigated that “Google wallet still lacks many of the features that
have jumped ship for the complementary Android Pay app but it remains a solid mobile-payment
option. Google wallet is now Google Pay Send. It is the app and service from the search ad giant that
lets you send money to acquaintances just like venom. It joins plain-old Google pay the point-of sale
piece of the company’s rebranded online payment app and service strategy. Pay Send works on both
Android and IOS as well as from web browser.

38
11. S. Nazimsha and Dr.M.Rajeshwari (2018) 11 , investigated that “A Study on Paytm Services in
Promoting Cashless Economy After Demonetization in India and An outline on its Support towards
Making India Digital.” Paytm is one among the best mechanical advancement in the present century
and administrations offered by Paytm helps in time utilization and furthermore it is difficult to
utilize. Achievement of Paytm Could be it was a plan of action presented in the wakes of concentrate
the current circumstances. Winning in our nation and that’s the reason it went ahead to wind up
outstanding amongst other arrangement after demonetization. Paytm is the best case of an
organization which used online business advertises better.

12. Rahul Gupta (2018)12, stated that “Google Wallet may come to India Soon”. Google has made it
mandatory for app development to embrace its wallet service or face exit. The Reuters states that
Google is forcing Android app developers to adopt Google wallet and failure to do so might result in
getting their apps suspended from the Android marketplace which is now known as the Google Pay.
The Google Wallet service will initially meant for users who want to buy applications from Android
Market App Developers who were earlier using payment services such as PayPal, Boku and Zong
will now have to resort to Google Wallet which charges per transaction resulting in lesser saving for
the developers, ultimately lowering their profit per app sale.

13. Digbijay Mishra (2018)13, Studied that “Paytm says Google Pay violates user privacy”. Paytm has
written letter to the National Payments Corporation of India’s boss Dilip Asbe that paytm said
Google pay shares user data within group companies and third party platforms in India and abroad
which can be risky given that Google Pay is an unregulated payments platform and stores data
outside country. Paytm had previously complained to the NPCI about Whatsapp and saying latter
was given unfair advantage at the time it enter the peer-to-peer payments business via the Unified
Payment Interface(UPI). Google, however, responded that the company does not use any individual
UPI transaction data for monetisation purposes, such as for advertisements, and all its actions are in
line with applicable laws. Google Pay operates on UPI and recently completed one year of
operations. UPI is the fastest growing platform for digital payments, and a number of domestic and
global players — including Paytm, Flipkart’s PhonePe, Google Pay and WhatsApp — have been
fighting for a share of of it. UPI witnessed over 300 million transactions in August registering a
39
 growth rate of over 30 per cent from July, when it clocked around 235 million transactions. In
September last year, the same stood at just about 30 million.

14. Ankit Chawla (2018)14, investigated that “Google Pay Payments Platform Launched, Integrates
Android Pay and Google Wallet”. Google on Monday announced that it is merging Android Pay and
Google Wallet into a single payments platform - Google Pay. This new service is expected to be
available online, in store (NFC payments), and across several Google Products including Tez. The
VP of Product Management, Payments at Google, Pali Bhat, says that ‘With Google Pay, it'll be
easier for you to use the payment information saved to your Google Account, so you can speed
through checkout with peace of mind’. As we mentioned, Google is launching its new integrated
payments service, Google Pay. Android Pay and Google Wallet branding will be replaced by Google
Pay branding. To recall, Android Pay was launched back in 2015 as way to make payments at stores,
but soon expanded to get in-app purchase support and integration with mobile banking apps.The
Google Pay service has already been rolled out to apps including Airbnb, Dice, Fandango, Hungry
House, Instacart, and others. Google is also running limited period offers with B&H, Fandango, and
Instacart. Recently, Google rolled out its ‘Pay with Google’ feature that upgrades the traditional
checkout process to make online purchases faster across services such as Google Play, YouTube, and
Chrome. Much like ‘Pay with Google’, developer information for Google Pay has also been released.

15. Sumit Chakraborty (2018)15, investigated that “Google Pay Replaces Android Pay, Google Wallet
as New Payments Platform”. Google has finally started the rollout of Google Pay, a single payments
platform that merges Android Pay and Google Wallet. Google is roll out an update to the app while
introducing a new design and features for the unified payments service. It is also launching a
redesign of the Google Wallet app, which will now be called Google Pay Send. The rollout of the
Google Pay app has already started, the company noted in a blog post. Google has also updated the
website with the latest features. It has also released four YouTube videos to explain how to work
with the new app, including how your info stays safe, how to pay in stores, and how to add and verify
a card. Google Pay app interface has two tabs - Home and Cards. As per the images on the Google
Play store, the Google Pay app shows recent payment activity, offers and stores available nearby, and
a card-style interface which includes a user's debit, credit, and other cards. With the new branding,
Google is apparently looking to streamline operations, much like Apple and Samsung are attempting

40
 with their respective Apple Pay and Samsung Pay platforms. Google appears to have big plans with
the new app, as it has claimed that service will make its way to all Google products, including
Chrome and Assistant. Similar to Android Pay, users will be able to use payment information stored
in the app on a wide variety of apps and websites when using an Android Smartphone or even the
Chrome browser. To recall, Android Pay was launched back in 2015 as a way to make payments at
stores but soon expanded to get in-app purchase support and integration with mobile banking apps.
When it comes to the rollout, people in the US and the UK will be able to use the app for sending and
receiving money within the next few months. For other countries, Google has not revealed the release
dates. Google, in an earlier blog post, had hinted that it ‘will also be bringing these experiences to
Tez users in India’. It remains to be seen whether Tez will be rebranded to Google Pay or not.

16. Cal Jeffrey (2017)16, investigated “Samsung Pay adds PayPal Wallet as a payment option”. Now
you can also use your PayPal account like a debit card. Quickly following on the heels of Apple and
Android, Samsung is adding PayPal Wallet as a payment option for its mobile payment platform.
Users of the tap-to-pay service will have the ability to pay online or in-store using their PayPal
account. This option essentially allows you to use your PayPal account the same way you would a
debit card. Android Pay also relies on NFC to complete transactions, so is faced with the same
limitation. This lack of NFC support is what gives Samsung an advantage with mobile payments. A
couple of years ago Samsung acquired Loop Pay which had developed a technology called
“Magnetic Secure Transmission” (MST). A device using MST can communicate credit card
information to magnetic card readers. Therefore, the token created during a mobile transaction,
which is like a temporary credit card, can be transmitted just like a Visa or MasterCard. Samsung
uses both MST and NFC technologies for Samsung Pay. Magnetic secure transmission works with
any magnetic reader that does not require physical activation. This makes using PayPal as a
secondary purchasing account more viable at brick-and-mortar establishments. PayPal on Samsung
Pay is available in the US. The Korean manufacturer is working with PayPal to extend support to
other countries as well. The service is expected to be available in 18 other markets including Spain,
China, and India, soon.

41
17. Moumita Dasgupta (2017)17, observed that “Google Tez v/s Paytm – The Game of Digital
Payments”. There was hush-hush in the market about the possible launch of Google’s Tez application
for the Indian Market. The event conducted by Caesar Sengupta Google’s Vice President for the
popular Next Billion user’s project in the New Delhi attended by Finance Minister Arun Jaitley
announces the launch of Google Te giving major blow to apps like Paytm Wallet. India is rapidly
turning into a profitable market for the payment sector with demonetization back in November 2016;
the industry grew 55% in 2016-17. As per a study by Boston Consulting Group the Indian payment
industry will be worth $500 billion by 2020 and that accounts a massive 15% of the country’s total
GDP. The Apps like Paytm Wallet or Tez is gearing up to match the shift in consumer habits and
enhances the infrastructure.

18. Pranjal at el (2017)18, investigated “Heuristic Analysis of Growth of Paytm”. It is conducted from
the survey of the IIT Kanpur Junta regarding to the usage of e-wallet. They investigated the history,
objectives and Growth of Paytm. The tag line is ‘Pay through Mobile’. Paytm is one of the
subsidiaries of this conglomerate. The strategy Paytm follows is different from other e-commerce
companies in India. Paytm is the largest e-commerce company in India and it makes significant
impact in the Indian economy.

19. Mansi Bosamia (2017)19, investigated that “Mobile Wallet Payments Recent Potential Threats and
Vulnerabilities with its Possible Security Measures”. The potential mobile wallet and vulnerability
have shortly discussed and studied in this paper. However the threats are indentified yet not reached
to the expected level of maturity as a result the overall field proceeds to be an area of intense
research. Also needs to identify new solutions for specific threats or vulnerability. This paper also
indicates that if the new solution is indicates that if the new solution is identified then defiantly
increases the trust boundaries of mobile wallet payments.

42
20. Rob Thubron (2016)20, interpreted that “The Google Wallet physical debit card is about to be
killed off”. Google launched its physical debit card that linked to users’ Google Wallet accounts. The
company had high hopes for the card, but it never became very popular, leading to yesterday's
announcement that Google will soon kill off the product. Google said that it will no longer support
the Wallet Card as of June 30, and the ability to add money directly from a debit card or bank
account to a Wallet Balance will cease on May 1. Google Wallet will still exist as a peer-peer
payments system. Money received from friends can be added to an existing balance, which can then
be cashed out, used to pay others, or as a way of making purchases on Google Play. Google said that,
going forward, it wants to “focus on making it easier than ever to send and receive money with the
Google Wallet app.” The company added that it will be adding new features and a “fresh design”,
over the coming months. Google is directing anyone looking for other products similar to the Wallet
Card to the services provided by American Express and Simple. Any former Wallet Card users will
get an added bonus for signing up to these accounts. The decision to end the Wallet Card doesn’t
come as a huge surprise. As the likes of Android Pay and Apple Pay become more widespread, it
seems fewer people prefer to use this kind of product.

21. Antony Peyton (2016)21, Analyzed that “Paytm partners with Wipro for new payments bank”. Wipro
will be implementing the new core banking system and Banking Technology understands that
Infosys, Oracle FSS and TCS financial solutions were in the running to provide their core banking
so0lutions to Paytm. The core system of choice is believed to be Infosys’ Finacle. Wipro Shall also
be manage the integration of other systems such as Regulatory Reporting & Anti-Money-Laundering
(AML) Solutions. The Paytm which is 40% owned by Chinese e-commerce giant Alibaba got
approval from the country’s Central Bank and Regulator Reserve Bank of India (RBI) to become
Payments Banks. In 2015, the Paytm founder Vijay Shekhar Sharma says that we will do every
justice to this opportunity and bring half-a-billion Indians to the mainstream economy by 2020. We
want to be the driver of financial inclusion.

22. Rob Thubron (2015)22, investigated that “Latest Google Wallet update lets you send money using
just a phone number”. The study is or after the launching of Android Pay, Google decides to turn
Google Wallet into a peer-to-peer payment service that connects with your debit or bank account and
allows you to send cash to anyone in the US. But now, Google is removing the limitation that
43
 required anyone who receives money to have an email address - the latest update makes it possible to
send funds to a person using just their phone number. Sending money to someone this way means
that they don’t need to give out their email details or even have Google Wallet installed on their
Smartphone. Recipients receive a text message with a secure link, which they can access at their
convenience. Clicking on it will let them enter their debit card details to claim the money, which
Google says will be transferred to their bank accounts “within minutes”. Other than the usual “bug
fixture and visual improvements”, the feature is the only new addition the update brings. The app has
had a number of other updates in recent weeks, including improved contact suggestions (letting you
see the people you send money to most often first), a security feature that locks the app with one tap,
and the ability to add a second bank account. The Google Wallet update is available now for the
Android and iOS apps. The new feature is only available in the US.

23. Erol Kazan (2015)23, Analyzed that “The Innovative Capabilities of Digital payment Platforms: A
Comparative Study of Apple Pay & Google Wallet”. The aim of this study is to advance the digital
platform and open innovation literature that sheds light on how digital platforms are designed and
configured to utilize open innovation. Follows the call by (West et al.2014) for more studies on how
organizations integrate and commercialize open innovation, this paper investigates how digital
payment platforms perform third-party integration and commercialization. It also discuss about the
two digital payment platforms: Google Wallet and Apple Pay.

24. William Charles (2015)24, observed that “Google Wallet Removes Credit Card Option”. It used to
be possible to send money to friends or family or anybody with Google Wallet using a credit card for
fee of 2.9% + $0.30 Some people found that it useful for meeting minimum spend requirement
despite this high fee. Google has been removed this feature and you can now only fund directly from
your bank account or by using a debit card.

25. Gadgets 360° (An NDTV Venture) (2015)25, investigated that “Google Fails to Dismiss Privacy
Lawsuit over Google Wallet”. A federal judge has rejected Google Inc's request to dismiss a lawsuit
accusing the technology company of invading the privacy of users of its Google Wallet electronic
44
 payment service by sharing their personal information with outside app developers. The US District
Judge Beth Labson Freeman in San Jose at California said Google must face claims it breached users'
contracts, breached an obligation to deal with users fairly and in good faith and violated a California
consumer protection law. She dismissed two other claims. Freeman said that Google Wallet users
may try to show that Google ‘frustrated’ the purpose of its own privacy policy by allowing "blanket,
universal disclosure" of their personal information to app developers whenever they bought apps in
Google's Play store.

26. Wes Novack (2014)26, investigated that “The Google Wallet Card can be your free, reloadable,
prepaid debit card”. As the part of Google’s ongoing plot to take over the world and replaced your
real world and replace your real world wallet with mystical Smartphone payment magic it has added
a features to Google Wallet that will actually play nicely with your old tattered billfold: the Google
Wallet card. It is a Master card powered debit card but this card is wholly depended on your Google
Wallet account balance making it quit similar to those prepaid visa and MasterCard, Gift cards that
you are familiar with. The card is free to order, free to activate, free to fund with a bank account and
there are no monthly or annual fees.

27. AJ Dellinger (2013)27, interpreted that “We have a Google Wallet Card, and It’s Awesome”. The
Google Wallet app stores debit cards, credit cards, gift cards, coupon cards, loyalty cards, etc. Instead
of swiping a card you paid by tapping your phone to paypass terminals. Wireless carriers never got
onboard and many phones remained incompatible with overly secured system. Instead of putting the
contest of your wallet into your phone and paying with it. Now you can put Google next to other
credit cards in your wallet. It is available for free from Google. Once you load it up with a balance of
sending money from another card stored within your Google wallet account or from a verified bank
account. You can used it just like any other debit card.

28. Octavian Dospinescu (2012)28, investigated that “E-wallet. A New Technical Approach”. Taking
into account the technological evolutions at a world-wide level and analyzing the investment
intentions (PcWorld, 2012) of companies. We may anticipate that the future of the electronic
payments will have the mobile environments as a main infrastructure. The estimates (King, 2011)

45
 show that up to 2014, more than 50% of the smart phone type devices will contain interfaces that are
able to communicate financial data without any physical contact with payment terminal. Once with
the expansion of the smart phone type devices one may expect reviving the concept of e-wallet. The
Author defines the elements of the mobile environments and devices, the electronic wallet and
standards meant to increase the flexibility of transactions.

29. David Zax (2012)29, investigated that “Is Google Wallet safe?” A recent security flows raises
questions about mobile payments. The website smart phone camp firstly reported the vulnerability. It
prove to be that anyone could get access to your Google Wallet by going into your phone, clearing
the data and setting up a new PIN. The author says that, they would be able to add your card and
have full access to your funds. All the person needs to be able to do this access to your phone and
within 1-2 minutes they will have complete access to your Google Wallet Account. The Beider
declares that people are asking if Google Wallet is safe enough for mobile phone payments and the
answer is yes. Infact Google Wallet offer advantages over the plastic cards and folded wallets in use
today.

30. Jeffrey Camp (2011)30, interpreted that “How Google Wallet Works”. In May Google announced
Google Wallet its innovative new Smartphone payment platform using an embedded NFC (Near-
Field Communications) chip in Google Wallet. It is an open platform that allows you to use credit
cards, coupons, store loyalty cards, etc. Without actually swiping each card. You can simply tap your
phone up to a payment receiver to complete a transaction and for those who have used MasterCard,
Visa, American Express or Discover Pay pass wireless system where you can tap your credit to
wirelessly pay this isn’t a completely foreign concept.

46
 CHAPTER 4.

DATA ANALYSIS, INTERPRETATION AND PRESENTATION

4.1. Gender Of Respondent

Gender Response (in %)

Yes 50%

No 50%

Gender

Yes
50% 50%
No

Interpretation:

The research has characterised on specific data. There is no discrimination between gender.

It specified 50% data of male and 50% data of female

47
4.2 Qualification Of The Respondent

Qualification Response (in %)

Under Graduate 53.30%
Graduate 25%
Post Graduate 5%
Diploma 3.30%
Doctorate
HSC/12th 6.70%
SSC 5%

Qualifiacation

3% 5% Under Graduate
7%
Graduate
5% Post Graduate
Diploma
54%
Doctorate
26%
HSC/12th
SSC

Interpretation:

The research is mostly conducted on the under graduate students which are more use e-wallet for the

payment transactions.

48
4.3 Age Of The Respondent

Age Response (in %)

Below 18 1.70%
18-25 70.00%
26-35 13.30%
36-50 6.70%
51-64 8.30%
Above 65 -

Age
2%

8%
7% Below 18
18-25
13% 26-35
36-50
51-64
70%
Above 65

Interpretation:

This research is more conducted from the person which is between the age of 18 to 25 which are the student
and teenager whose use more e-wallet for various transactions.

49
4.4 Occupation Of The Respondent

Occupation Response (in %)

Student 51.70%
Service 33.30%
Profession 3.30%
Business 3.30%
Housewives 5%
Unemployed 3.30%

Response (in %)
3%
3%
3% 5%
Student
Service
Profession
52% Business
34% Housewives
Unemployed

Interpretation:

The more respondent are students and service person which doing more e-wallet transaction.

50
4.5 Awareness About E-Wallet

Awareness about E-wallet Response (in %)

Yes 96.70%

No 3.30%

Awareness
3%

Yes
No

97%

Interpretation:

There was 97% people aware about the e-wallet. It means more people have knowledge about e-wallet and
e-wallet more spread in the India.

51
4.6 Uses Of E-Wallet

Uses of e-wallet Response (in %)

Yes 80%
No 20%

Response (in %)

20%

Yes
No

80%

Interpretation:

There was 80% people use e-wallet it means more transactions are conducted from the e-wallet.

52
4.7 Reason For Don’t Uses Of E-Wallet

Reason for don’t uses of e-wallet Response (in %)

Do not have internet facility at home 9.10%

Don't trust E-wallet Services 27.30%

You Don't have proper information about E- 54.50%

wallets
Prefer to go to bank 54.50%

find the process too difficult 0%

Bank do not provide E-wallet facilities 0%

60.00% 54.50% 54.50%

50.00%
40.00%
27.30%
30.00%
20.00% 9.10%
10.00% 0% 0%
0.00%
Do not have Don't trust E- You Don't have Prefer to go to find the Bank do not
internet facility wallet Services proper bank process too provide E-
at home information difficult wallet facilities
about E-
wallets

Response (in %)

Interpretation:

The people don’t use of e-wallet because of they prefer the to go bank or they don’t have proper knowledge
of e-wallet.

53
4.8 Which E-Wallet Use More People

Table 4.8 Which E-Wallet Use More People

Which type of E-wallet use more Response (in %)

Paytm 77.10%

Google Pay 45.80%

MobiKwik 8.30%

Oxigen Wallet 0%

Citrus Wallet 0%

ItzCash 0%

FreeCharge 6%

Axis Bank Lime 0%

Airtel Money 21%

ICICI Pockets 10%

Jio Money 8%

mRupee 4%
SBI Buddy 8%

Vodafone M-Pesa 2%

HDFC PayZapp 2%

PhonePe 29%

Apple Pay 2%

54
Figure 4.8 Which E-Wallet Use More People

90.00%

80.00% 77.10%

70.00%

60.00%

50.00% 45.80%

40.00%

29%
30.00%
21%
20.00%
10%
8.30% 8% 8%
10.00% 6%
4%
2% 2% 2%
0% 0% 0% 0%
0.00%

Response (in %)

Interpretation:

The more famous e-wallet in Indian market which are the Paytm, google pay and phone pe.

55
4.9 No. Of E-Wallets Use One Person

5. Do you use one or more than Response (in %)

one e-wallets?

One 33%

Two 29%

More than two 38%

40% 38%

35% 33%

29%
30%

25%

20%

15%

10%

5%

0%
One Two More than two

Response (in %)

Interpretation:

There was more of people want to use more e-wallets because they don’t want to depend on only one e-
wallet.
56
4.10 KYC On E-Wallet

KYC on E-wallet Response (in %)

Yes 72.90%
No 27.10%

KYC

27%

Yes
No

73%

Interpretation:

There was more people doing KYC on e-wallet because which are more important in today’s market

57
4.11 No. Of Uses Of E-Wallet

4.11 No. of Uses of E-wallet Response (in %)

Only Once 10.40%

Daily 22.90%

Weekly 45.80%

Monthly 20.80%

Yearly -

Period

7. How many times

have you used E-
10%
wallet?
21%
Only Once

23%
Daily

Weekly
46%

Monthly

Interpretation:

There was more people use e-wallet on weekly basis which means they have more prefer to use e-wallet.

58
4.12 Purpose Do You Use E-Wallets

Table 4.12

purpose do you use E-wallets Response (in %)

Transfer of money 72.90%

Recharge 79.20%

Utility & Bill Payment 62.50%

Balance Inquiry 37.50%

UPI 14.60%

Food /Train/Movie tickets 60.40%

Online Shopping 52.10%

Any other 10.40%

59
Table 4.12

90.00%
79.20%
80.00% 72.90%
70.00% 62.50% 60.40%
60.00% 52.10%
50.00%
37.50%
40.00%
30.00%
20.00% 14.60%
10.40%
10.00%
0.00%
Transfer of Recharge Utility & Bill Balance UPI Food Online Any other
money Payment Inquiry /Train/Movie Shopping
tickets

Response( in %)

Interpretation:

There were more of purposes to use e-wallet which are recharge, transfer of money, bills payment, etc. In
these most purpose to use e-wallet it’s for recharge because they give more discounts.

60
4.13 Reason For Prefer To Use E-Wallets

Reason for prefer to use E-wallets Response (in %)

Convenience 35.40%
Discounts 58.30%
Cash back 68.80%
Simple to load money 14.60%
Ensures timely payments 20.80%
Cost saving 18.80%
Offers more security 6.30%
Quick & Smooth Transfer of Payment 29.20%
24/7 hour services 68.80%
Save time 75.00%

0.8 75.00%
68.80% 68.80%
0.7 58.30%
0.6
0.5
0.4 35.40%
29.20%
0.3 20.80% 18.80%
0.2 14.60%
6.30%
0.1 0
0

Series1

Interpretation:

The people use more e-wallet because in these competitive world they want to save time and 24/7 hours
service.

61
4.14 Information About E-Wallets

Information About E-Wallets Response (in %)

Social media 44.90%

Website 24.50%
Via SMS 55.10%
E-mail 12.20%

TV/Newspaper Advertisement 20.40%

Google 4.10%

60.00% 55.10%

50.00% 44.90%

40.00%

30.00% 24.50%
20.40%
20.00%
12.20%
10.00% 4.10%
0.00%
Social media Website Via SMS E-mail TV/Newspaper Google
Advertisement

Response( in %)

Interpretation:

There was more information give people from social media and via SMS.

62
4.15 Transactions Of E-Wallets Are Secured

Transactions of E-wallets Response (in %)

are secured

Little 22.90%
Some 35.40%
Very much 37.50%
Not at all 4.20%

Transactions through E-Wallet are Secured?

4%
23%
Little
38% Some
Very much
Not at all
35%

Interpretation:

There was more people have conclusion about security it’s that the security is some or very much strong.

63
4.16 Banks Take Initiative In Arranging Information Programs About E-Wallets

Bank take initiative in Response (in %)

arranging information
programs about E-wallets

Yes 25.50%
No 74.50%

Response( in %)

26%

Yes
No

75%

Interpretation:

There was more people have said that the bank does not take initiative in arranging programme about e-
wallet because They Don’t Aware About It.

64
4.17 Problems Using E-Wallets

problems using E-wallets Response (in %)

Sometimes 64.60%
Always 4.20%
Never 31.30%

Response( in %)

31%

Sometimes
Always
Never

65%
4%

Interpretation:

There are no more problems while using e-wallet.

65
4.18 Obstacles You Face By Using E-Wallets

obstacles you face by using E-wallets Response (in %)

Security of mobile payment 52.60%

Takes too much time 23.70%

Cannot used for international 7.90%

transactions

No other face problem 5.30%

Network Issues 7.80%

Response( in %)
Security of mobile payment
6%
8%
8%
Takes too much time

24% 54%
Can not used for international
transactions
No other face problem

Interpretation:

As per people’s behaviour they think the security of mobile payment is big obstacles.

66
4.19 E-Wallet Services Useful

E-wallet Services useful Response ( in %)

Yes 100%

No 0%

Response( in %)

Yes
No

100%

Interpretation:

There was 100% people are satisfied with e-wallet service and these are useful to them

67
4.20 E-Wallet Widely Available In India

E-wallet widely available in India Response (in %)

Strongly Agree 20.40%

Agree 53.10%

Neutral 24.50%

Disagree 2%

Strongly Disagree -

Response( in %)
2%

20%
25% Strongly Agree
Agree
Neutral
Disagree
Strongly Disagree
53%

Interpretation:

There was more than 50% people think that the e-wallet widely available in India.

68
4.21 Satisfied With E-Wallet Services

satisfied with E-wallet Services Response (in %)

Very Satisfied 27.10%

Satisfied 68.80%
Neutral 4.20%
Not satisfied Nil

Response( in %)

4%

27%
Very Satisfied
Satisfied
Neutral
Not satisfied
69%

Interpretation:

There was more than 50% people are satisfied with e-wallet service.

69
 CHAPTER 5. CONCLUSION AND SUGGESTIONS

5.1 Conclusion

 The Cashless Transactions is reaching its growth day by day.

 After the Demonetization E-wallets has got a boost up.

 As per social statistics and customer base of E-wallets it has been analyzed that people has
been started using E-wallets.

 People use more E-wallet because in this competitive world they want to save time and 24/7
hours service.

 E-wallet attracts people to do transactions from anywhere, at any time.

 The Customers wants Easy Access, Cash back, Discounts, Quick and Easy Transfer of
Money, etc. and the Company wants Satisfaction of Customers.

 It is proved from the background study that single factor authentication increases risks posed
by phishing, identity theft, fraud and loss of customer confidential information.

 It is easy to send and receive money. You can book flight, bus, train tickets.

70
 5.2 Suggestions

 While mobile payment through the various apps available is convenient, it is also now easier for a
thief to gain access to your financials if they steal or hack your phone. What you should do to Use
strong passwords and never let your phone out of your sight. Change your passwords often.

 E-Wallets give you the benefit of spending a set amount of money; money that is in your wallet.
This is helpful as you don’t have to expose your entire bank balance when shopping. This,
however, means that E-wallets are best for relatively small purchases.

 Track your wallet usage weekly. Mobile shopping can be addictive and mobile wallets make
spending easy, so make sure you track where your wallet money is being spent. A weekly tracking
should be enough.

 If you are comfortable with mobile for wallets, use it for saving and investing as well. Increase
your knowledge about money, saving, and investing by reading interesting finance blogs.

 Choose your wallet provider carefully. There are many payment apps and mobile wallets out
there. Select one which suits your needs and is compatible with your most used apps. If you tend
to use a cab service frequently, it makes sense to use a wallet that is compatible with that app.

71
 BIBLIOGRAPHY

1. www.zspublishers.com/jac/

2. https://sociable.co/mobile/evolution-ewallets-history-benefits-withdrawals/

3. https://www.financialexpress.com/industry/technology/emergence-of-e-wallets-in-india-here-
is-how-the-payments-industry-is-growing-rapidly/451008/

4. https://marketbusinessnews.com/financial-glossary/e-wallet/

5. https://www.pixelcrayons.com/blog/mobile/the-top-10-advantages-of-a-mobile-wallet-
strategy/

6. http://www.iamwire.com/2017/12/mobile-wallets-best-10-digital-wallets-in-india/170127

7. https://appinventiv.com/blog/7-features-a-mobile-wallet-app-should-have

8. https://marketbusinessnews.com/financial-glossary/e-wallet/

9. https://www.pnc.com/en/about-pnc/topics/pnc-pov/economy/mobile-wallet.html

10. https://sociable.co/mobile/evolution-ewallets-history-benefits-withdrawals/

11. http://www.arthapedia.in/index.php?title=Digital_/_Electronic_Wallet_(e-wallet)

72
 ANNEXURE

E-WALLET

This Research focus study of "E-Wallet Services in India". I am very pleased to have you as my respondent.
Your inputs will provide the most valuable information for my Research Project.

Name :

______________________________________________________________________________

Gender :

o Male

o Female

Qualification :

o Under Graduate

o Graduate

o Post Graduate

o Diploma

o Doctorate

o Other:_________________________________________

Age :

o Below 18

o 18-25
73
 o 26-35

o 36-50

o 51-64

o Above 65

Occupation :

o Students

o Service

o Profession

o Business

o Housewives

o Unemployed

Q1. Are you aware about E-wallet?

o Yes

o No

Q2. Do you use E-wallet?

o Yes

o No

Q3. If No, Why?

 Do not have internet facility at home

 Don't trust E-wallet Services

74
  You don't have proper information about E-wallets

 Prefer to go to bank

 Find the process too difficult

 Bank do not provide E-wallet facilities

Q4. If Yes, What type of E-wallet you use?

 Paytm

 Google Pay

 MobiKwik

 Oxigen Wallet

 Citrus Wallet

 ItzCash

 Freecharge

 Axis Bank Lime

 Airtel Money

 ICICI Pockets

 Jio Money

 mRupee

 SBI Buddy

 Vodafone M-Pesa

 HDFC PayZapp

 PhonePe

 Apple Pay
75
Q5. Do you use one or more than one e-wallets?

 One

 Two

 More than two

Q6. Have you done your KYC on E-wallet?

o Yes

o No

Q7. How many times have you used E-wallet?

o Only once

o Daily

o Weekly

o Monthly

o Yearly

Q8. For what purpose do you use E-wallets?

 Transfer of money

 Recharge

 Utility & Bill Payment

 Balance Inquiry

 UPI
76
  Food /Train/Movie tickets

 Online Shopping

 Any other

Q9. Why do you prefer to use E-wallets?

 Convenience

 Discounts

 Cash back

 Simple to load money

 Ensures timely payments

 Quick & Smooth transfer of payments

 Cost saving

 Offers more security

 24/7 hour services

 Save time

Q10. Where do you get information about E-wallets?

 Social media

 Website

 Via SMS

 E-mail

 TV/Newspaper Advertisement

 Other:
77
Q11. Do you feel your transactions through E-wallets are secured?

o Little

o Some

o Very much

o Not at all

Q12. Does your bank takes initiative in arranging information programs about E-wallets?

o Yes

o No

Q13. Do you face any problems using E-wallets?

o Sometimes

o Always

o Never

Q14. What are the obstacles you face by using E-wallets?

 Security of mobile payment

 Takes too much time

 Can not used for international transactions

 Other:

78
Q15. Are E-wallet Services useful?

o Yes

o No

Q16. Do you think E-wallet widely available in India?

o Strongly Agree

o Agree

o Neutral

o Disagree

o Strongly Disagree

Q17. Are you satisfied with E-wallet Services?

o Very Satisfied

o Satisfied

o Neutral

o Not satisfied

Feedback:

_______________________________________________________________________________________
_______________________________________________________________________________________
_______________________________________________________________________________________
79