JAMIA HAMDARD

A study to know awareness among people regarding E-wallets

Submitted To – Mrs. Shikha Gera

Submitted By- Aarushi
S.NO. TOPIC PAGE NO.
1. INTRODUCTION 3-11
1.1 Meaning
1.2 Types of E payment
1.3 Working
1.4 Features
1.5 Managing Operations
1.6 Benefits
2. Review of Literature 12-14
3. Research Methodology 15-16
3.1 Research Design
3.2 Research Question
3.3 Objective of the Study
3.4 Scope of the Study
3.5 Source of Data
3.6 Sampling size and
technique
3.7 Data Analysis
4. Data Analysis and Interpretation 17-34
5. Findings 35-36
6. Limitations, Suggestions and 36-37
Conclusion
7. References 37-38
8. Annexure 1 (Questionnaire) 39-41
 CHAPTER – 1

INTRODUCTION

E-WALLETS

A mobile wallet or e wallet app or e payment is an app that consists of your debit and credit card information which helps the
users to pay for goods and services digitally using their mobile devices.

Popular online payment apps or payment apps or e wallet list in India include:

Paytm
 PhonePe

Google Pay

Amazon Pay

MobiKwik AND PhonePe

Payment Apps or mobile wallet refers to the payment services operated under financial regulation and is performed using a
mobile device. The concept of paying using cash, cheque, debit or credit card is off lately becoming outdated and especially
during the pandemic, it offers a safer means of transaction.

The new payment mechanism which involves payment for a transaction using the mobile wallet or mobile money transfer is
gaining momentum.

The concept of mobile payment is gradually being accepted and adopted across the globe in different ways. The exclusive first
patent defined as ‘Mobile Payment System’ was filed way back in the year 2000.

Working of e-payment apps.

Money can be deposited in the payment app before conducting any transaction or in other cases, an individual’s bank account
can be linked with the digital wallet to conduct the financial transaction. Payment apps will have both the software and
information component in it. Secure and fair electronic payment systems form an important issue. The software helps in
providing security and encryption for personal information and for conducting the actual transaction.

Types of Mobile Payments

There are five different types of models for mobile payments:

1. Card-based payments

2. Mobile Wallets

3. Contactless Payments NFC (Near Field Communication)

4. Carrier Billing (Premium SMS or direct carrier billing)

5. Direct transfers between the payer and payee bank accounts on real-time based operations.

Features of E-Wallets

Instant Payments- The money transfer between the payer wallet and the payee wallet will happen within a matter of a few
seconds, instead of hours or business days in an e-wallet account. The feature provides huge benefits as payments can be done
anytime and from anywhere making fund transactions immediately and this will increase the control of personal and business
funds.

Managing Virtual and Physical Card Operations –

The emerging technology has helped the e wallet app to store the user’s credit or debit card data, which can be used to make
money transactions at any time from anywhere across the globe. The evolution of e-wallet simplifies the user’s finances and it
conveniently helps to aggregate all their cards in one central space. A mobile wallet or payment app is safer to carry all your
cards with you as it avoids the user having to physically carry the credit card.

Bill Payments Payments App- is one of the critical mobile wallet features as most of the youngsters prefer to pay bills online
be it for shopping, groceries, restaurants, movie tickets booking, flight tickets booking, rent, tuition, utilities, loans, and so on.
Paytm is one of the Indian e-commerce payment systems and a financial technology company whose headquarters is located
in Noida, Uttar Pradesh. Paytm was founded by Vijay Shekhar Sharma. The company was initiated in August 2010, with an
initial investment of $2 million. Initially, it started as a prepaid mobile and DTH recharge platform and later it added postpaid
mobile recharge, data card, landline bill payments during the year 2013.

By using Paytm Wallet App, users can easily pay for services at stores, send and receive money using the app, opt for online
purchases and the list goes on. All that the customers have to do is to use the BHIM UPI on the app by linking their respective
bank account with UPI address. Paytm Wallet App can be used to: Make payments for utility bills. Pay for transportation
services Make Online purchases Send and receive money.

Google Pay is an online

payments system and a digital wallet developed by Google to power in-app and make purchases using a mobile device. The
app helps the users to make payments with tablets or watches or with Android-based phones. Previously launched as Android
Pay, the service was released at Google in 2015. Android Pay was a successor to and was built on the base established by
Google Wallet which was released in the year 2011. It used the technology from Soft card whose intellectual property was
acquired by Google in February 2015.
It has replaced the use of debit or credit card and PIN or magnetic stripe transactions at the Point of Sale (POS) terminals, as it
allows its users to upload their Google Pay wallet. The app is similar to the contactless payments which already exist in many
countries worldwide. The app works on two-factor authentication. The service allows Android-based devices to wirelessly
communicate with the Point of Sale (POS) systems using an NFC antenna, Android’s security and host-based card emulation.

The PhonePe (PhonePe Private Limited) is currently, one of the leading Indian e-commerce payment system and digital wallet
companies which was founded in December 2015. The company’s headquarters is located in the Silicon Valley of India –
Bangalore. PhonePe was initially founded by Rahul Chari and Sameer Nigam.

The digital wallet company went live from August 2016 and it is touted as the first payment app which is built on the Unified
Payments Interface (UPI). Currently, the app provides its servicesin regional languages as well and is available in over 11
Indian regional languages.

Using this digital payment app, the users can receive money, send money, pay for shopping bills, recharge mobile packs,
recharge DTH services, make utility, electricity, water bill payments, pay for data cards, purchase gold online and offline
mode, instantly.
 Apart from this, the users can also use the app and book for cab rides, order food online, avail hotel services, pay for Redbus
tickets, make payments for flight tickets and so on. Around 5 million online and offline transactions have been accepted so far
using the Phonepe app which has covered groceries, food, movie tickets, travel and so on.

MobiKwik is one of the India based e-commerce payment systems which was founded in 2009, by Bipin Preet Singh and his
wife – Upasana Taku. The company was started with an initial seed capital of $250 thousand. It provides a mobile phone-based
payment system and acts as a digital wallet. Users can add money to an online wallet which can be used for making online
payments. It launched an e-wallet system in the year 2012 which helped its customers to deposit money online which could be
used for bill payments and other features. MobiKwik app is available on both iOS and Android-based devices.

The wallet can be used across a range of payment services which includes payment of grocery bills, utility bills, mobile
recharges, movie tickets booking, metro recharges, cab bookings and the list goes on. The wallet helps to bridge the divide
between consumers and companies through swift recharges and bill payments at no extra cost for online transactions. The app
offers instant money transfer facility for friends and family members on the go swiftly and instantly. The company rolled out a
credit product, known as ‘Boost’ which provides loan disbursal in a matter of 90 seconds, with this, MobiKwik has become the
 first in the payment apps industry to give loans via a mobile wallet. The company plans to add new products in its lending
portfolio in the coming days.

Amazon Pay is one of the leading online payment processing systems which is managed by Amazon. It was started in the year
2007, the Amazon Pay uses the consumer base of Amazon.com and focuses on providing the users with an option to pay with
their Amazon accounts on external merchant websites. Currently, customers can opt to make their payments method by either
choosing debit or credit card or through net banking or via Amazon Pay Balance.Amazon Pay provides an option for purchases
to buy goods and services from web portals and mobile apps using the addresses and payment methods that are stored in the
Amazon account which includes debit and credit cards.

The Amazon Pay Express is a kind of payments processing service for simple e-commerce use on web portals. It mainly uses
the Java button code generator to create a button that can be copied and pasted onto a website or added via WordPress Plug-in.
 BENEFITS OF E-WALLET AND PAYMENT APPS:

The following are the list of benefits or e wallet advantages:

Customer Convenience The best advantage of using a payment app is customer convenience as they will be able to make
payments using their mobile phones either using the contactless payments or by scanning QR code instantly. The payment
apps India can be made by using either Samsung Pay or Android Pay or Apple Pay. One can easily leave the cash and cards at
home and use their phones to make payments instead. Payments made using a mobile wallet are often easier and faster than
swiping or inserting the cards.

Improves Cash Flow The introduction of e-wallets has improved the cash flow in the markets. For starters, most of the
customers prefer to pay their bills using debit/credit cards over the traditional method of cash payments. Most of the mobile
payment processors will transfer funds to a business account in under three days.

Integrates Loyalty Programmes The use of mobile payments makes it possible to integrate loyalty and reward programs as
customer information will be stored in the app. For example: being able to send customers a coupon when they are close to
your store. This will help the customers to automatically receive the reward points or coupons for every transaction which they
make.
 CHAPTER 2

REVIEW OF LITERATURE

1. Upadhayaya, 2012 in this paper tried to convey that in electronic trade, the difficulties of installment exchanges were
at first thought little of. Business through the web and versatile communication has so far been overwhelmed by the
strategies for installment frameworks in conventional business. Be that as it may, considering progresses in web based
business, conventional plans of action are progressively facing their cutoff points. To comprehend the idea of electronic
trade, Ewallet is an advantageous, simple to-utilize, secure worldwide installment framework. It is adaptable
"individual banking framework" with various payouts and pay-in choices.I-Payout utilizes the most recent security
frameworks to guarantee Ewallet security.
2. YADAV, Arora, 2019 in this paper has conveyed that utilizing e-wallet for installment is moving in Indian installment
design for a layman. This paper makes an endeavor to consider consumer loyalty being used of e-wallet as reliant
variable also, issues in e-wallets, hazard and answer for support the utilization of e-wallet as autonomous factors. 351
respondents were considered appropriately finishing structures and AMOS realistic is utilized for additional
examination to test the figured invalid theories and to check legitimacy of the outcomes. Discoveries incorporate that
there is positive relationship of consumer loyalty with arrangements in ewallets and negative connection with issues in
utilizing e-wallets.
3. Singh, Ghatak, 2021 in this examination intends to research the client selection of e-wallets in India. The paper further
tries to investigate the critical connections among the builds of TAM in disclosing shopper aim to utilize the advanced
 wallet. The current examination utilizes an all-inclusive TAM system. The factors of the examination are hazard, cost,
similarity, convenience, usability, social goal to utilize, real utilization, and so on for investigating advanced wallet use
aims in Indian purchasers. The example considered was North Indian clients to comprehend their arrangement to utilize
a versatile wallet. A normalized scale was utilized for the current investigation. The information was gathered utilizing
a survey with factors of outer variables, insight, inclination, and utilization. Organized condition demonstrating has
been was utilized to check the model attack of the proposed model, and way investigation uncovered the relationships
between's the endogenous and exogenous factors of the examination.
4. Bhagat, from the study conveyed that the phenomenon of Mobile Wallets in India has seen a spike in interest towards
the cashless technology after the act of demonetization that took place in November 2016. It is also observed that the
government of India is encouraging the public to become cashless. This paper’s main goal is to identify factors that
affect the intent to use mobile wallets in New Delhi. Moreover, the study aims to examine the acceptance of this
technology within small businesses of Delhi and to know the most-widely used wallet services. In this study, the
Technology Acceptance Model (TAM) is used to determine the factors related to the user’s intent to use the cashless
wallets. The data for this study is analysed using Exploratory and Confirmatory Factor Analysis. In addition, various
statistical tests such as Descriptive Statistics, Chi Square test, Kruskal Wallis test, and other non-parametric tests are
also performed. Paytm wallet is considered to be widely used mobile-wallet among the users of Delhi. The research
describes five major factors ‘ease of use’, ‘usefulness’, ‘secure’, ‘attitude’ and ‘risk’ that are driving consumer’s
intention to use the services. It also analysed that these payment technologies are widely adopted in restaurant and
grocery store businesses for payments. Hence, mobile wallets are slowly getting accepted among small businesses in
Delhi. The results of this study would be useful for the government to frame their policies and for mobile wallet
companies to know consumer’s intention regarding mobile wallets.
5. Manikandan, Jayakodi, 2019 in this paper said that present world advanced mobile phones assume a significant part in
the day by day life of individuals. The mechanical progression has made cell phone as gadgets were the portable clients
can bring in cash exchange or installment by utilizing application introduced in telephone. The current investigation
plans to clarify the application and use of wallet cash supported by various organizations and different components that
influence the shopper's choice to receive versatile wallet and different dangers and difficulties looked by the clients of
portable wallet. An organized poll was ready and information were gathered from 150 respondents and elements
influencing the selection and utilization of versatile wallet was dissected by utilizing ANOVA to get the factual
outcome from information gathered.
6. Jain, Sarupria, A Kothari, tried conveying that there are around 60 million customers in the country who are under
banks. They stand by in line to check the cash and cover the bills, which is an immense achievement. An item like e-
wallets saves them a great deal of time and burden. With the presentation of advancement, the things around us have
truly changed. Innovation diminishes individual solace and solace. With the assistance of your cell phone, you can do
everything. It very well may be requesting upkeep or fundamental supplies, booking taxi tickets or movies, and then
 some. Presenting the e-wallet, it has been an incredible assistance for the client to make the credit only trade.
Moreover, except if different associations have arisen in India, offering shoppers a 'versatile pack', there is an absence
of thought for a portion of the idea and its capacity. This paper exhibits the adequacy of e-wallet in India.
7. Adharsh, Harikrishnan, A Prasad, 2018 conveys in this paper that E-wallet installments are getting more viable for
the Indian economy guided by Smart telephone crucial web use. India as of now has around 8.5 crores interesting
dynamic versatile wallet clients. Out of every one of the exchanges through versatile wallets the higher rate is finished
by Indian youth. Our examination was a logical investigation of the dynamic number of E-wallet clients concentrating
to undergrads and how the new framework after demonetization has shaped the installment framework around
understudies prevalently in spaces of everyday buys in advanced installment worked with merchants and for driving.
We did a grounds wide overview identifying with this and a scientific business point of view was expand upon the
information. We additionally included an in person survey inside specific gatherings to investigate the broad utilization
of portable wallets basically among understudies. This exploration dominatingly combine identifying with the
transcendence of Ewallet utilization among understudies and the different business procedures conveyed by E-wallet
firms to settle the general client check.
8. Gurme, says in this paper that an E-wallet cash is utilized in the different spaces of the world systematic and
Organizations, Banks and Customers. The Banks have assumed a superior position in giving a superior bank exchange
administrations and installment to the clients need .For clients are hauled by the shopping offices that is given by E-
wallet and clients are drawn in on account of accommodation what's more, expedient exchange .if there should be an
occurrence of organizations ,the organizations targets giving office of exchange administrations and installment
decision to their clients and the numerous installment blend office giving by the organization are appended to E-wallet
administration. E-wallets have a similar usefulness as a credit/check card and should be connected with your financial
balance to make installments without any problem. An e-wallet is a sort of safety and secret key secured, prepaid
record where you can store your assets for online exchanges.
9. Saviour, 2019 in this paper says that in today – world, PDA has become a fundamental piece of one's day by day life.
Versatile clients would nowadays be able to utilize their Smartphone to bring in cash exchanges or installments by
utilizing applications introduced in the telephone. There are a few versatile wallets which offer these types of
assistance. Versatile wallets are advanced variants of customary wallets that somebody would convey in their pocket.
They offer installment administrations through which the people/business can get/send cash by means of cell phones.
The current paper illuminates the consumer loyalty level towards the ewallet administrations gave by paytm. It focuses
on the administrations given by Paytm wallet and its fulfillment level.
10. D'souza,  Bhadury conveys in this paper that regardless of being presented as late as 2008 in India, the portable wallet
has been all around acknowledged by a larger part of the market and its utilization has just expanded post the new
demonetization of cash notes. This paper begins with a short presentation on what precisely does a portable wallet
involve and a foundation on what drove to the unexpected upsurge of use of portable wallets in India. We at that point
go through some generally existing examination work, expanding on it and simultaneously attempting to sort out where
we really remain when contrasted with these papers. Before long, we address the body of the exploration paper wherein
we incorporate probably the most significant discoveries and their inductions from the review directed by us. These
inductions are very much clarified with the assistance of an illustration of an average person. At last, we close the point
with a message to portable wallet organizations to take the discoveries from this paper out and appropriately break
down and execute explicit methodologies that would help them increment their portion of the overall industry just as
keep their current piece of the pie well flawless.
 CHAPTER – 3

Research Methods

3.1. Research Design

The study tried to explore the awareness among people regarding E-wallets. The research was unstructured, the findings were
tentative and a non-representative sample was used. The exploratory and descriptive research methods were used in this study.

3.2. Research Question

3.1 A study to know the awareness among people for E-wallets.

3.3. Objective of the study

3.3.1. To know about online payment apps.

3.3.2. To know how much people know about E-wallets.

3.4. Scope of the Study

3.4.1. People of Delhi NCR

3.4.2. Online Payment

3.5. Sources of Data

Both primary and secondary data were used for the research.

3.5.1. Primary Data

The Primary Data was collected was collected with the help of a questionnaire. It helped to gather some stats and data directly
from the respondents, without having to go on the internet.

3.5.2. Secondary Data

The secondary data was collected from the internet and multiple websites for some stats like challenges faced during online
classes etc.

3.6. Sampling Size and Technique

The sample size n= 51 i.e. 51 respondents are involved in this research who filled the questionnaire and the technique used was
non-probability sampling because getting responses using this technique is faster and cost-effective, the respondents respond
quickly.

3.7. Data Analysis

Data analysis was done with the help of excel sheets, frequency tables, graphs and charts.

3.7.1. Frequency Tables

Frequency tables help in summarizing the data and output in numerical terms which makes it easy to understand the statistics.

3.7.2. Excel Sheet

Excel sheet helps in compiling the data in a significant and organized manner which makes the study easier.

3.7.3. Charts and Graphs

Graphs and charts help in visualizing the data so that interpretation becomes easier.
 CHAPTER – 4

Data Analysis and Interpretation

1. GENDER

Table 1: Gender of the Respondents

GENDER NO. OF PERCENTAGE

RESPONDENTS
MALE 20.00 39.2%

FEMALE 31.00 60.8%

OTHERS -

INTERPRETATION:
It can be interpreted that out of 51 respondents 20 are male and 31 are female.
 1. AGE OF RESPONDENT

AGE NO. OF RESPONDENT PERCENTAGE

BELOW 18 YEARS 1 2%
18 YEARS - 25 YEARS 25 49%
25 YEARS -30 YEARS 22 43%
ABOVE 30 YEARS 3 6%
It can be interpreted from the above figure that out of 51 respondents 1 is below 18 years, 25 are between 18years-25years, 22
are between 25years-30years and 3 are above 30 years.
 2. Occupation

OCCUPATION NO. OF RESPONDENT PERCENTAGE

STUDENT 22 43.1%

TEACHER 4 7.8%

BUSINESS 7 13.7%

SERVICE 12 23.5%

OTHERS 6 11.8%

From the above figures it can be interpreted that out of 51 respondents 22 are students, 4 are teachers, 7 do
business, 12 are in service and 6 pursue other occupations.
 3. INCOME

INCOME NO. OF RESPONDENT PERCENTAGE

LESS THAN 10000 4 7.8%

10000-20000 5 9.8%

20000-30000 2 5.7%

ABOVE 30000 21 41.2%

NOT ANY 18 35.3%

From the above figures, it can be interpreted that out of 51 respondents, 4 have less than 10000 income,
5 earn between 10000-20000, 2 earn between
20000-30000, 21 earn above 30000 and 18 respondents have no income source.
 4. ARE YOU AWARE OF E-PAYMENT APPS LIKE PAYTM, GOOGLEPAY,
PHONEPE ETC?

AWARENESS NO. OF RESPONDENT PERCENTAGE

YES 51 100%
NO 0 -
MAYBE 0 -

From the above figure, we can conclude that out of 51 respondents all of them are aware of the
e-payment apps.
 5. DO YOU USE ANY E-PAYMENT APPS?

USE OF E-PAYMENT NO. OF RESPONDENT PERCENTAGE

APPS
YES 48 94.1%
NO 3 5.9%

From this figure, we can interpret that out of 51 respondents 48 people use e-payment appa and 3 respondents do not
use them.
 6. WHICH E-PAYMENT APP DO YOU USE?

E-PAYMENT APPS NO. OF RESPONDENTS PERCENTAGE

PayTM 45 88.2%
GooglePay 30 58.8%
PhonePe 21 41.2%
Mobikwik 4 7.8%
Anyother 6 11.8%

From above figures , we can interpret that out of 51 respondents, 45 use paytm,30 use googlepay, 21 use
phone pe, 4 use mobikwik and 6 use other e-payment apps.
 7. FROM WHERE DID YOU HEAR ABOUT E-PAYMENT APPS?

SOURCES NO. OF RESPONDENT PERCENTAGE

INTERNET 29 56.9%
FRIENDS 30 58.8%
FAMILY 27 52.9%
COLLEAGUES 4 7.8%
ANY OTHER 3 5.9%

From these figures, we can conclude that out of 51 respondents 29 of them got to know about e-payment apps from internet, 30
from friends, 27 from family, 4 from colleagues and 3 from other sources.
 8. HOW OFTEN DO YOU USE E-PAYMENT APPS?

INTERVALS NO. OF RESPONDENTS PERCENTAGE

REGULARLY 32 62.7%
SOMETIMES 6 11.8%
OFTEN 8 15.7%
RARELY 2 3.8%
NEVER 3 6%

From these figures we have concluded that out of 51 respondents 31 use these apps regularly, 6 uses them sometimes, 8 uses
them oftenly, 2 rarely use them and 3 have never used these apps.
 9. WHY DO YOU PREFER E-PAYMENT APPS OVER OTHER MODES OF PAYMENT?

REASON NO. PF RESPONDENT PERCENTAGE

TIME SAVING 15 29.4%
EASY TO USE 31 60.8%
SECURITY 1 2%
ANY OTHER 4 7.8%

From the above figures we can interpret that out of 51 respondent 15 use these apps because of time saving, 312 use them as
they are easy to use, 1 use them for security and 4 for any other reasons.
 10. ON THE SCALE OF 1-5 HOW CONVENIENT IT HAS BEEN FOR YOU TO USE
E=PAYMENT APPS?

SCALE NO. OF RESPONDENT PERCENTAGE

1 3 5.9%

2 0 0%

3 0 0%

4 14 27.5%

5 34 66.7%

From these figures we interpreted that out of 51 respondents, 34 people found it really convenient to use these apps, 14 people
found it moderately convenient, and 3 people found it inconvenient.
 11. WHAT ARE YOUR PURPOSE OF USING E-PAYMENT APPS?

PURPOSE NO. OF RESPONDENT PERCENTAGE

MONEY TRANSFER 9 17.6%
UTILITY AND BILL PAYMENTS 3 5.9%
RECHARGE 3 5.9%
ALL OF THE ABOVE 36 70.6%

From the above figures we can interpret that out of 51 respondents 9 use these apps for money transferring, 3 uses them for
utility and bill payments, 3 use them for recharge and 36 uses them for all the purposes listed above.
 12. DO YOU FACE FOLLOWING BARRIERS WHILE USING E-PAYMENT APPS?

BARRIERS NO. OF RESPONDENT PERCENTAGE

DON’T TRUST THE BANK 4 7.8%
SECURITY
FINDING THE TECHNOLOGY 5 9.8%
DIFFICULT
ANY OTHER 4 7.8%
NO BARRIERS 38 74.5%
From the above figures we concluded that out of 51 respondents, 4 don’t trust the bank security, 5 find the technology
difficult, 4 have other barriers and 38 face no barriers.

13. HOW LIKELY ARE YOU GOING TO RECOMMEND THE E-PAYMENT APPS?

RECOMMENDING NO. OF RESPONDENT PERCENTAGE

VERY LIKELY 31 60.8%

LIKELY 16 31.4%

NOT AT ALL 1 2%

DON’T KNOW 3 5.9%

 From these figures we interpreted that out of 51 respondents 31 are very likely to recommend
these apps, 16 are likely to recommend, 1 doesn’t feel like recommending these apps and 3
don’t know.

14. WHICH DEVICES DO YOU USE FOR MAKING E-PAYMENTS?

DEVICES NO. OF RESPONDENT PERCENTAGE

SMARTPHONES 44 86.3%
COMPUTER 1 1.9
BOTH 5 9.8%
ANY OTHER 0 0.1
From these figures we concluded that out of 51 respondents, 44 use smart phones, 1 use
computer, 4 use both and 0 use any other devices.
 CHAPTER – 5

FINDINGS

1. Out of 51 respondents, 60.8% of the respondents are female and 39.2% of them are male.

2. Out of 51 respondents 43.1% of the respondents belong to age group of above 30 and
49% of the respondents belong to the age group of 18 years - 25 years.

3. 43.1% of the respondents are students, 23.5% are in service sector, 13.7% belong to business
sector and 7.8% are teachers.

4. Out of 51 respondents, 4 have less than 10000 income, 5 earn between 10000 20000, 2 earn
between 20000-30000, 21 earn above 30000 and 18 respondents have no income source
41.2% of the respondents are earning monthly income more than Rs. 30000.

5. Through the survey we analyzed that 100% of the respondents are aware of the E-wallets and
94.1% of them use e-wallet.

6. 58.8% of the respondents heard of the e-wallets through their friends and 56.9% of them
heard about them from family.

7. Majority of the respondents (88.2%) are using Paytm, they (62.7%) are using e-wallets
regularly. Through the rank analysis we found that 66.7% of the respondents find using e-
wallets really convenient and 70.6% of the respondents use the e wallet apps for fund
transfer, utility and bill payment and for recharging purposes.

8. The rank analysis shows that most of the users find no barriers in using e-wallet, however
7.8% of the respondents also feel that “Network Connectivity” sometimes is a barrier.
 9. The rank analysis has also shown that 60.8% of the respondents are very likely to
recommend the e-wallet to others.

10. With the help of rank analysis we also concluded that 60.8% of the respondents use e-wallet
because they are easy to use and 29.4% of the respondents feel e-wallet saves time.
 Chapter- 6
Limitations, Suggestions and Conclusions

LIMITATIONS
1. Majority of respondent were biased in filling the form.
2. The forms where sent to the respective target but, there was no response from them in
filling the form.
3. There was a limitation of time to conduct survey in a limited available time.
4. The sample collected for this survey was only limited to the known persons like family,
friends or peers so there was a limitation in getting a proper detail response.

SUGGESTIONS
1. The teacher should make class engaging, interactive to help students stay focused during
the class.
2. The teacher might promote an exchange of ideas and information among teachers.
3. The teacher might adopt best tool for learning online.
4. The teacher might give plenty of breaks from the screen to refresh their mind and their
body.
5. People might practice time management.
CONCLUSION

In this modern Indian environment, E-wallet was a great way to get sweets and make your life
easier without having money in our hands. Although it has not been successfully found in all
sectors, it can be a suitable solution for multiple uses. Digital wallets or ewallets were a great
platform for settling all good transactions, and can help you send and receive money across
India. So, using E-wallets is better, to improve status we can only use E-wallet, current cash
money in different sectors such as shopping, booking, taxi reservations, and accepting a few
other food service sites and services. One can also use prepaid cards while traveling abroad,
which limits the amount of money uploaded to these cards - thus reducing the risk. Use of digital
wallet is similar to body bag. Now, it was a time when India was looking for a better way to pay
off its debts and buy into E-wallets. The customer transfers money via his e-pallet or electronic
wallet without providing bank details to the payment processor abroad; this protects the
consumer's information and spending history. With an electronic wallet, society save them online
to pay utility bills, go to the bank to make a monthly transactions installment or transfer, or look
for a terminal to upgrading mobile phone.
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 Annexure 1

QUESTIONNAIRE

Topic- E-WALLETS

Objective – To know the awareness among people regarding E-wallets.

PART – A

1. Name – (Compulsory)
2. Gender - Female/ Male/ Others
3. Age – Below 18/ 18-25/ 25-30/ Above 30
4. Occupation – Student/ Teacher/ Service/ Business/ Others
5. Income - Less than 10000/ 10000-20000/ 20000-30000/ Above 30000/ No Income

PART – B
1. Are you aware of E-Payment apps like Paytm, GooglePay, PhonePe etc,
A. Yes
B. No
C. Maybe
2. Do you use any E-Payment apps?
A. Yes
B. No
3. Which E-Payment App do you use?
A. PayTm
B. GooglePay
 C. PhonePe
D. Mobikwik
E. Any Other

4. From where did you hear about E-payment apps?

A. Internet
B. Family
C. Friends
D. Colleagues
E. Any other
5. How often do you use E-payment apps for financial transactions?
A. Regularly
B. Sometimes
C. Often
D. Rarely
E. Never
6. Why do you prefer e-payment over other modes of payment?
A. Time Saving
B. Easy to use
C. Security
D. Any other
7. On the scale of 1-5 how convenient it has been for you to use e-payment apps?
1 2 3 4 5
8. What are your purposes of using e-payment apps?
A. Money Transfer
B. Utility and Bill payments
C. Recharge
D. All of the above
9. Do you face following barriers while using e-payment apps?
A. Don’t trust the bank security
B. Finding the technology difficult
C. Any Other
D. No Barriers

10. How likely are you going to recommend the E-payment apps?
A. Very Likely
B. Likely
C. Not at all
D. Don’t know
11. Which device do you use for making e-payments
A. Smart phones
B. Computer
C. Both
D. Any Other