SHIKSHAK SANCHALIT SHIKSHAN SANSTHA’S

DR.S.D.DEVSEY ARTS AND COMMERCE AND SCIENCE COLLEGE WADA

TAL.WADA DIST. PALGHAR

UNIVERSITY OF MUMBAI

A DETAILED STUDY ON CONSUMER PERFERENCE TOWARDS E-WALLET

A PROJECT SUBMITTED TO
UNIVERSITY OF MUMBAI FOR PARTIAL COMPLETION
OF THE DEGREE OF MASTER IN COMMERCE
UNDER THE FACULTY OF COMMERCE

BY

MR. AKSHAY HARISHCHANDRA WAGHCHAUDE

M.COM – II, SEMESTER – IV, Year 2021-22

April - 2022

UNDER THE GUIDE OF

DR. Mrs. SUSHMA HEMANT GUPTA, ASSISTANT PROFESSOR

DEPT. OF COMMERCE

SHIKSHAK SANCHALIT SHIKSHAN SANSTHA’S

DR.S.D.DEVSEY ARTS AND COMMERCE AND SCIENCE COLLEGE
WADA.TAL.WADA DIST. PALGHAR

ACADEMIC YEAR 2021-22

 SHIKSHAK SANCHALIT SHIKSHAN SANTHA,S
DR. S. D. DEVSEY ARTS AND COMMERCE AND SCIENCE
COLLEGE WADA DIST - PALGHAR

CERTIFICATE

This is to certify that MR.AKSHAY HARISHCHANDRA

WAGHCHAUDE has worked and duly completed her/his Project Work for the
degree of Master in Commerce under the Faculty of Commerce. her/his project
is entitled, A DETAILED STUDY ON CONSUMER PERFERENCE
TOWARDS E-WALLET 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 or Diploma of any University.

It is her own work and facts reported by her/his personal findings and
investigations.

MRS. SUSHMA HEMANT GUPTA

(Name and signature of guide teacher)

DATE OF SUBMISSION:
 DECLARATION

I the undersigned MR. AKSHAY HARISHCHANDRA

WAGHCHAUDE here by, declare that the work embodied in this project work
titled A DETAILED STUDY ON CONSUMER PERFERENCE
TOWARDS E-WALLET forms my own contribution to the research work
carried out under the guidance of Mrs. Sushma Hemant Gupta is a result of
my own research work and has not been previously submitted to any other
University for any other Degree/ Diploma 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 been obtained and Presented in
accordance with academic rules and ethical conduct.

MR. AKSHAY HARISHCHANDRA WAGHCHAUDE

(Name and Signature of the Research Student)

Certified By

Dr. Mr. S. S. Khandekar

I/C Principal of Shikshak Sanchalit Shikshan Sanstha's

Dr. S.D. Devsey Arts, Commerce & Science College Wada.

(GUIDING TECHER MRS. SUSHMA HEMANT GUPTA)

 ACKNOWLEDGMENT

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 my I/C Principal, Mr. S.S.
Khandekar for providing the necessary facilities required for completion of
this project.

I take this opportunity to thank our Coordinator. Mrs. Sushma H. Gupta,

for her moral support and guidance. I would also like to express my sincere
gratitude towards my project guide in My College Teachers whose guidance
and care made the project successful. I would like to thank each and every
person in 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 Friends who support to me throughout my project.

MR. AKSHAY HARISHANDRA WAGHCHAUDE

 INDEX
Sr. No. Title of the Chapter Page no.

1. INTRODUCTION AND RESERCH DESIGN 8

1.1 Introduction 9

1.2 Concept & definition 11

1.3 Objective of the study 13

1.4 Problems of the study 14

1.5 Hypothesis 15

1.6 Scope of study 16

1.7 Limitation of the study 16

1.8 Overview of e-wallet 17

1.9 E-wallet importance 18

1.10 Why are Indians watching towards the e-wallet? 19

1.11 Features of e-wallet transaction 20

1.12 E-wallet features to keep your customers satisfy 22

1.13 How big mobile payment system in India? 23

1.14 Most popular mobile payment wallet in India? 25

1.15 Advantages of having a mobile wallet 26

1.16 List of the disadvantages of electronic wallet 28

5
 1.17 Conclusion 30

1.18 Summary 30

2. RESEARCH METHODOLOGY 31
2.1 Introduction and meaning 32

2.2 Definition of research design 32

2.3 Research design types and sub-types 33

2.4 The essential elements of research design are: 33

2.5 Research design characteristics 34

2.6 Types of research design 36

2.7 Meaning of data 39

2.8 Differences between primary data and secondarydata 39

2.9 Conclusion 43

3. REVIEW OF LITRTURE 44

3.1 Review of literature 45

4. DATA ANYLISIS AND PRESENTATION 46

4.1 Introduction 47

4.2 Analise and interpretation 47

6
5. CONCLUSIONS AND SUGGESIONS 64

5.1 Conclusion 65

5.2 Finding of the study 66

5.3 Suggestions 67

5.4 Bibliography 68

5.5 Webliography 70

7
CHAPTER NO -1
INTRODUCTION

8
INTRODUCTION AND RESEARCH DESIGN

1.1 INTRODUCTION ABOUT E-WALLET

India's most popular online destination for prepaid mobile & DTH recharges
and shopping, apps are popularized through Android and iOS apps using E-
wallet facility for the mode of payment. “E-wallet is an online prepaid account
where one can stock money, to be used when required. As it is a pre- loaded
facility, consumers can buy a range of products from airline tickets to grocery
without swiping a debit or credit card if so their wallet is filled with sufficient
amount required for payment.

1.1

A digital wallet is a system that securely stores users' payment information

and passwords for numerous payment methods and websites. By using adigital
wallet, users can complete purchases easily and quickly with near-field
communications technology. They can also create stronger passwords without
worrying about whether they will be able to remember them later. Digital
wallets can be used in conjunction with mobile payment systems, which allow
customers to pay for purchases with their smart phones. A digital wallet can
also be used to store loyalty card information and digital coupons. A digital
wallet is also known as an e-wallet. E-wallet is a type of pre-paid account in
which a user can store his/her money for any future online transaction. An E-
wallet is protected with a password. With the help of an E-wallet, one can
9
make payments for groceries, online purchases, and flight tickets, amongothers.

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.

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
orderform on any other website as the information gets stored in the database
and isupdated automatically.

A digital wallet is a software-based system for making e-commerce

transactions. By using a digital wallet, online purchases can be done easily
through computers, tablets or smartphones. In general, bank accounts of
individual users are linked with their digital wallet. In a digital wallet system,
user credentials are securely stored and verified during transactions. Digital
wallets are not only used for online purchases but also for authentication of
the user. A digital wallet can store complete user information including
credentials, transaction history and personal details. Digital wallets can also be
used in combination with other mobile payment systems.

10
1.2 CONCEPT AND DEFINITION

E-wallet is a type of electronic card which is used for transactions made onlinethrough a
computer or a smartphone. Its utility is same as a credit or debitcard. An E-wallet needs
to be linked with the individual‟s bank account to make payments.

1.2.1 E-transaction:
An electronic transaction is the sale or purchase of goods or services, whether
between businesses, households, individuals, governments, andother public or
private organizations, conducted over computer- mediated networks.

1.2.2 Net banking:

Online banking also known as internet banking is an electronic payment system

that enables customers of a bank or other [[financialinstitution to conduct a
range of [[financial transaction through the financial institution's website.

1.2.3 E-wallets:
E-wallet is a type of electronic card which is used for transactions made online
through a computer or a smartphone. Its utility is same as a creditor debit card. An
E- wallet needs to be linked with the individual's bank account to make payments.
Definition of 'E-wallets' Definition: E-walletis a type of electronic card which is
used for transactions made online through a computer or a smartphone. Its utility is
same as a credit or debit card. An E-wallet needs to be linked with the individual's
bank account to make payments.

1.2.4 debit card:

a plastic card that can be used to take money directly from your bankaccount
when you pay for something A debit card is a payment card

11
 that deducts money directly from a consumer‟s checking account to pay for a
purchase. Debit cards eliminate the need to carry cash or physical checks to
make purchases. In addition, debit cards, also called check cards, offer the
convenience of credit cards and many ofthe same consumer protections when
issued by major payment processors like Visa or MasterCard.

1.2.5 Mobile payment:

(also referred to as mobile money, mobile money transfer, and mobile wallet)
generally refer to payment services operated under financial regulation and
performed from or via a mobile device. It will result in revenue share of mobile
money reaching up to 9% by 2018.

1.2.6 Ecommerce:
Ecommerce, also known as electronic commerce or internet commerce, refers to the
buying and selling of goods or services using the internet, and the transfer of money
and data to execute these transactions. Ecommerce is often used to refer to the sale
of physical products online,but it can also describe any kind of commercial
transaction that is facilitated through the internet.

12
1.3 OBJECTIVES OF THE STUDY

1.3.1 To ascertain the acceptance of the concept of E-wallet among

potential consumers.

1.3.2 To determine the extent of acceptance of this application in various

consumer options.

1.3.3 To determine factors that influence consumer purchase of E-wallet

options and other similar options.

1.3.4 To understand how people, use e-wallets and make payment through
e-wallet.

1.3.5 To check consumer preference towards e-wallet transaction.

1.3.6 To know the process of payment through e-wallets.

1.3.7 To know about various e-wallets and its various services.

1.3.8 To examine the factors influencing adoption of mobile wallets.

1.3.9 To examine the factors refraining the usage of e wallet.

13
1.4 PROBLEM OF STUDY:
1.4.1 Regulatory Compliance
All mobile payment services need to abide by the legal requirements. This entails
both the financial and consumer-based regulations. This canbe a problem for new
players who want to invest in a new market.

1.4.2 Fraud Risk

This is one of the biggest reasons why most consumers are reluctant to adapt to
mobile wallets. Contactless payment presents huge unknown risk and fraud like
leaked data, hacking, undetected malware, e-wallet vulnerabilities. Making the
technology secure for all consumer will aid in stopping any potential financial
breaches.

1.4.3 Low Perception

Consumers still perceive that mobile wallets do not solve anything. They are still
not informed of the benefits of using mobile wallets over using cash or credit cards.
That is why most of them still use creditcards and debit cards for online payment
and buying expensive items.

1.4.4 Low Trust in Mobile Wallets

Consumers say that the idea of using mobile wallets is good but not possible. They
feel that they give up a lot of their control when using mobile wallets. A research
carried out by YouGov shows that 43% of mobile users don‟t trust mobile wallets,
38% fear that if their phones getlost they might not be able to make any payment.
Another research related carried out by Experian concluded that 55% ofconsumers
feel safer using credit cards. A survey carried out by Auriemma reported that
consumers who use mobile wallets will not recommend it to their friends or family.

1.4.5 No Rewards
Unlike cards and cash-back programs, they are no rewards offered whenusing
mobile wallets. People using credits and cash have the opportunity of receiving
discounts, rewards, and coupons. Financialmarketers seeking to boost the usage of
mobile wallets should take this as an opportunity to get more consumers.

14
1.5 HYPOTHESIS:
1.5.1 There is no significant relationship between respondent gender and
opinion regarding the future of e-wallets.

1.5.2 There is no significant association between respondents age and

opinion regarding the future of e wallets.

1.5.3 There is no significant association between respondents‟ program

of study and opinion regarding the future of e-wallets.

15
1.6 SCOPE OF STUDY

The scope of the project comprises of the following:

1.6.1 It belongs to the functional area of marketing in management

withspecific focus on application based mobile transactions.

1.6.2 It guides the E-wallet transactions companies to make efficient

customer service.

1.6.3 Scope is to check and define popularity of e-wallet in Indian market.

1.6.4 It indicates consumer preference towards e-wallet transaction.

1.6.5 Pros and cons of using e-wallet.

1.6.6 It shows how people keep their money in e wallet and use for daily
transaction.

1.7 LIMITATION OF THE STUDY

1.7.1 Since it was based on the primary data collected from the respondents
who were selected by using purposive sampling. As such the study
suffers from all the limitations of sampling in general and purposive
sampling in particular.

1.7.2 Findings of the research study do not have universal applicability due to
small sample size and non-inclusion of students studying in other
institutions of higher education.

1.7.3 Hawthorne effect was also a problem.

1.7.4 More in-depth comparative studies can be conducted on different

cashless payment options.

1.7.5 For drawing policy implications studies on the cost-benefit analysisof

mobile wallets can also be conducted which this study is lacking.

16
1.8 OVERVIEW OF E-WALLET

A mobile wallet is a way of carrying digital card information in a digital form on a mobile
device. To make purchases, people can pay with their tablet, smartwatch, or smartphone.
Normally, a mobile wallet is a payment service through which individuals and businesses
can send and receive money through mobile device. It is a type of e-commerce mode that is
intended to be used with mobile devices owing to their easy access and convenience. It
isalso known as a mobile money transfer or mobile money.

Primarily, a mobile wallet allows an individual to receive payments as well as pay using a
mobile device. Usually, a mobile wallet is provided through some payment processing
models. This includes:

Mobile-based billing– An individual generally receive/sends payment through their mobile

service provider.
SMS-based transactions– This involves initiating transactions by sending an SMS short
code. The payment can be debited/credited from the configured bank account, mobile
service or credit card. Mobile web payments– enable users to receive/send payments
through a mobile app.

Near-field communications (NFC) – In this case, a special hardware in the mobile device
and a mobile app relate with a payment-processing terminal.
Less than three decades ago, the idea of sending or receiving money using a mobile device
seemed odd. Today, the use of a mobile device for money transfer is not only accepted but
turning out to be the norm in our society. Some very successful mobile wallets include Globe
GCASH, SMART Moneyin the Philippines and M-PESA in Kenya.

Back in 1997, Coca Cola introduced a few vending machines in Helsinki that allowed
consumers to buy their drink through text message. Although small, this innovative use
case is still regarded as the first example of mobile wallet and introduced the idea of using
mobile devices for transactions. As time went on, mobile devices were used to buy movie
tickets, arrange travel, and even order pizza. By 2003, about 95 million cell phone users
had made a purchase using their mobile device.

17
The major player in mobile wallets is Google and Apple. Google wallet was launched in
2011, making it the first major company to provide a mobilewallet to market. With the
wallet, shoppers could make payments, earn loyaltypoints and redeem coupons, using a
technology known as „near field communications‟. Unfortunately, Google Wallet had
limitations. It was only used on one phone model and was accepted at a few merchants.
Notwithstanding, it was revolutionary.

In 2012, Apple introduced the Apple‟s Passbook, an app that targeted boarding passes,
tickets, and coupons instead of actual mobile payments. Two years later, during the launch
of iPhone 6, Apple Pay was announced. Although Apple pay service was only available in
the US, it is now availablein the UK and China.

Since last year, we are witnessing changes in mobile wallet field. For example,near field
communications (NFC) is now available on almost all high-end smartphones. The
technology has been supported by the Android for several years, and Apple got in the game
after the launch of iPhone 6.Over time, manystores have started to accept mobile payments
via NFC terminals, leading to more companies updating or releasing their mobile wallet
versions. In future, we expect paying by phone to replace cash.

1.9 E-WALLETS IMPORTANCE:

The recent fearless decision of the Indian government to demonetize all the old currency
notes of ₹ 500 and ₹ 1000 has been a burning factor through thecountry.

People are presently hovering over banks and waiting for their chance to take their daily limit
of the amount, and it has been an endless battle for ordinary citizens.

This surprise call which was received from the Indian Prime Minister Narendra Modi Ji
has taken on almost all the currency away from people and
they simply ran out of cash. As the government slowly issues the new notes byit can take
minimum six months of time to get back on track.

18
 WHY ARE INDIANS WATCHING TOWARDS THE E-
1.10

WALLETS?

Due to this crises almost 70% of the people‟s spending capacity has been reduced and almost
it is very hard to pay their basic needs like medicines, grocery items, and Vegetables. Now
the new Indian scenario has made Indiansthink about the digital payment system.

And Indians were curious to know about the E-wallets to make their underlying
transactions, but although it isn‟t that easy for all the Indian to turnaround the digital side,
mostly all educated people are looking towards the E- wallets as the future of payments.

Mostly the recent scenarios have been helping digital E-wallets like Paytm andmobikwik to
make their impact in the Indian market more than they usuallydo.

Making payments through these E-wallets is surely the best way to get rid of this present
crisis and the platforms like Paytm and mobikwik are some of the best platforms for it.

A secure E-wallet can manage all your finances with one click, and you can even make it
more secure than your banks. It gives all types of facilities to settle all your amounts online
as well as an offline transaction with ease, and you can even pay your bills, taxi rides, bus
drives and recharges throughonline services.
The E-wallets like Paytm and Mobikwik are offering their digital wallet apps from past few
years, and they were encouraging all to the way to the cashless economy for a long time.
But with the present scenario where people are facing some massive shortage of cash in
current times has become difficult forthem to make offline payments or direct cash
payments.

Digital wallets were the best platform to settle all the cashless transaction, and it can help
you to send and receive money across India. So, using E-wallets is better, to improve your
present money shortage situation you can only use E- wallet money in various fields like
shopping, travel booking, taxi booking,and even it was acceptable for few other sites which
offer food and other services.

19
1.11 FEATURES OF E-WALLET TRANSACTION
1.11.1 Ease of Use:

Paying with a mobile wallet is just a matter of one click. You just have to link your credit/
debit cards, bank accounts details into the wallet once, and it will be saved to let you do
transaction hassle-free anytime in the future.

1.11.2 Unlimited Facilities:

With an e-wallet, you need not carry your physical wallet with you. An e- wallet carries all
your credit cards information as well as documents like your Aadhaar Card, Driving
License, and much more. In fact, some applications like Pay TM allows you to do
shopping and grab discounts under the same roof.

1.11.3 Seamless Transaction:

E-wallet processing is so fast that you can instantly transfer money to anyone across the
globe. What else? You no more have to run for change.

1.11.4 Better management:

As per the mobile wallet app developers, a wallet application provides the opportunity to
interconnect the bank accounts, credit cards, mobile accounts, bills, etc. and better manage
all your financial transactions.

From the above-mentioned benefits, it is clear that mobile wallet apps are the future of all
the businesses, especially retailing. Such technology innovations reduce the efforts of the
consumers while shopping and thus, help to keepthem hooked to your business!

wallets such as Mobikwik offer the facility to convert points you earn through Accept
payments instantly: If you own a small or medium business, you can accept payments
instantly at 0% fee (introductory offer) from customers making cashless payments. Most
leading e-wallets support POS transactions without any need of additional equipment‟s like
card scanners/readers. For processing the transaction, a payment link is sent to the customer
wherein theycan enter their card details without sharing it with the merchants and make the
payment through the e-wallet

20
1.11.5 Transfer money to bank accounts:

You can, not just accept payments but also transfer the balance to your mapped bank
accounts using m wallets. However, wallet app providers can deduct 1% to 5% of the
amount transferred from wallet balance as fee for the service offered. Currently as per RBI
mandate, wallets such as Pay TM,freecharge etc. have a monthly cap on the amount of
money you can transfer from your e wallet to your bank account.

1.11.6 Redeem points as Cash:

Few your cashless transactions into wallet balance. If you have a debit or credit card from
any of the „Max Get More‟ – supported banks or have a Payback loyalty program
membership, you can redeem your Mobikwik rewards points as wallet balance.

21
 E-WALLET FEATURES TO KEEP YOUR CUSTOMERS
1.12
SATISFIED

1.12.1 Order Ahead:

Customers don‟t like to wait in line, nor do they like waiting for their check. A
prepaid order option for customers on the go is a must-have feature for any mobile
wallet. The app should also keep an accurate real-time receipt history for every
transaction.

1.12.2 Accept Any Form of Payment:

A mobile wallet should support all forms of digital payment. Whether it‟s bitcoin,
ACH, credit, debit or loyalty, be ready to accept any formof payment the customer
chooses. Being payment-type agnostic allows you to be flexible for your customers‟
benefit.

1.12.3 Integrate With All Software:

There are around 187 million smartphones in use in the U.S. But only 25 million of
those devices have the software necessary to complete an Apple Pay, Samsung pay,
or Android Pay transaction combined. Accept a mobile wallet regardless of the
customer‟s device. The last thing you want to do is deny a customer the ability to
pay because of the type of phone they have.

1.12.4 Include Loyalty Points and Rewards:

The application must integrate merchants existing loyalty and gift card plans,
allowing customers to earn points and rewards with every purchase. Automatically
apply rewards, making physical cards irrelevant to the customer. This will keep
them coming back to your store over and over again.

1.12.5 Enhance the Customer Experience:

First look at the overall customer experience. In the technology business, what seems
great today may not be around in the near future. The customer will expect merchants
to have software that improves the buying experience.

22
1.13 HOW BIG IS MOBILE PAYMENT IN INDIA?
Mobile Payment is being on the trend among people in India. During demonetization when
whole India was facing the issue of currency change, at that time mobile payment arrive as
the „Saviour.' Mobile Payment can elaborate in simple words, and the payment makes via
mobile for purchasing products or for transferring money to other.

It's foreseen, in India near about 1 billion mobile phone subscribers along 240 million
Smartphone users are there. In the recent case study India to have 530M smartphone users
in 2018. As per BCG report in July 2016, only 22%of cashless transactions recorded in
India that's lags far behind if we compare globally. However, Boston Consulting Group
predicted to increase the cashless transactions up to 59% by 2025, as government
promoting a digital mode of payment to make India cashless.

Mobile Payment industry continuously is sorting out the people queries and providing the
most reliable mode of payment for making India cashless nation. To understand how big
mobile payment in India is, first, we need to understand the current status of mobile
payment & their growth over time.

23
1.13.1 Modes of Mobile Payment in India

At present India is known as the leading country among others developed nations of the
globe. If talking about payment modes, there are numerouskinds of payment modes
available in India. Here we listed the various ways ofpayment services currently available
in India:

1.13.2 Card Payments Mode

The Card Payment Mode includes multiple kinds of cards like a debit card, credit card,
prepaid card. The buyer used to purchase or exchange goods and services through these
cards. These are pocket size plastic cards that easy to carry as well as easy to forget too.
Example – MasterCard, Visa, Rupay, etc.

1.13.3 Alternative Payments Mode

The Alternative Payments Mode is independent of cards. This mode of payment is standard
in India for purchasing goods and services – no card

requires based on direct billing. Example: Direct Debits, Online Bank Transfers, Mobile
Carrier Billings, etc.
24
1.13.4 Mobile Wallet Payments Mode

Digital wallet or mobile wallet method allows users to shop and pay online. In this method,
m-wallets gives access to the consumer to connect debit/credit card, net banking or another
payment method to a digital mobile wallet. The user can load money in their virtual wallets
and can shop or transfer money quickly. Example: Paytm Wallet, MobiKwik, Freecharge,
etc.

1.14MOST POPULAR MOBILE PAYMENT WALLETS IN

INDIA

1.14.1 Paytm:

Paytm need on introduction in the world of virtual wallets. Paytm is theleading and most
popular Paytm mobile wallet which promoting mobile payment in India. It allows users to
shop and pay online by adding money to their digital wallets linking credit/debit or bank
accounts. Near about 200 million users are connected to Paytm and making a mobile
payment forvarious purposes in India.

1.14.2 MobiKwik:

MobiKwik has the user base of 45 million-plus customers and 50,000 plus merchants.
Users feel safe and secure while using this m-wallet. Various special offers and discounts
on making mobile transactions offered to the customers. The way of using or adding money
in the virtual wallet is similar toPaytm Wallet.

1.14.3 Oxigen:

Oxigen is the RBI approved mobile payment platform that used for bothoffline and online
transactions. Users can send or transfer money from their
wallet to their respective bank accounts. This m-wallet link to almost every bank in India.
On each transaction, the user will reward with some points that can be usable. The simple
user interface lets any user feel comfortable while making an online payment.

These are some of the best trending mobile payment application that people used widely in
India. Every day millions of transaction made through these digital payment apps. Except
for these apps you can go to various otherapproved and reliable mobile payment app.

25
1.15 ADVANTAGES OF HAVING A MOBILE WALLET:
1.15.1 A competitive differentiation for businesses

1.15.2 Instant payment and higher conversion rate for customers

1.15.3 The mobile device has become more significant for users today

1.15.4 Mobile wallet ensures smooth transfer of payments from one party to
another

1.15.5 provides a database marketing opportunity to marketers

1.15.6 Mobile wallet ensures cost savings for the business by ensuring
transparency in payments

1.15.7 Since the business can reach out to a larger number of customers, the
revenue would automatically rise

1.15.8 Location based services helps businesses in doing customized

promotions for their customers

1.15.9 Mobile wallets also ensure security of payment for customers

1.15.10. Running loyalty programs with customers becomes easier with the
help of mobile wallets

1.15.11 Easy accessibility –Using a mobile wallet for day to day transactions
is really simple to begin with. Downloading the app and creating a user ID
and password is all you need to do here. It is as simple as logging in to your
Gmail or Facebook account from your smart phone.

26
1.15.12 Simple to load money:

You can add money to your wallet in easily via net banking, credit card or debit card.
Being able to store these details saves you from the hassle of entering these details every
time you make a transaction and saves time.

1.15.13 Range of uses:

Starting from bill payments for DTH, post paid, data card and broadband to buying air, bus
or train tickets, you can use an e wallet for a variety of transactions. From paying at your
local general stores to paying for your utilities like gas, water and electricity, the reach of
mobile wallets has gone farand wide.

1.15.14 Split bill facility:

Being able to split expenses with friends is another big advantage. Freecharge and
Mobikwik users can split their bills simply by entering the amount and thenumber of
people who are expected to pay their share. These wallets will automatically generate a link
which you can send to people who owe you money.

1.15.15 Ensures timely payments:

You can also make use of the auto pay facility to make future bill payments automatically,
from your wallet balance on a pre-determined date.

1.15.16 Incentives and Promotions Each wallet comes with its own set of
incentives. E-wallets give plenty of money saving avenues through discounts,
cashbacks, offers and free gifts. You can benefit the maximum by going
through their offer section and making optimum use of promo codes.

1.15.17 Quick transfer of funds Money wallets have made sending and
receiving money quick and easy. And on the top of that, currently there are no
transaction charges levied for transferring money anywhere, anytime, thus
making it a more preferable option.

27
 LIST OF THE DISADVANTAGES OF
1.16
ELECTRONIC WALLETS

1.16.1 It is not fully available worldwide.

The number of retailers which accept payments from an electronic wallet depends on the
actual wallet you choose. In December 2016, just 36% of retailers accepted Apple Pay.
34% of retailers accepted PayPal as a form of payment. Just 25% of retailers accepted
Master Pass. About 2 million retailersin North America currently provide access to some
form of mobile payment through an electronic wallet.

1.16.2 It still requires you to carry something.

Although an electronic wallet offers more convenience for many consumers, itdoesn‟t fully
eliminate the requirement of carrying something with you. If youdon‟t have your mobile
device on your person, then you have no way to
complete a transaction. Because these wallets don‟t store your identification
and other needed items, you‟re still forced to carry a traditional wallet or pursewith you as
well.

1.16.3 It requires your device to have a charge.

There‟s also the disadvantage that an electronic wallet requires you to have acharged device
to have it operate. If you‟re carrying a traditional wallet, youwon‟t need to worry about
how much battery life is left on your phone.

1.16.4 It doesn’t eliminate your security risks.

The security of your smartphone or mobile device is dependent on the settingsyou use.
If you don‟t have your device protected with some type of password,then someone
could steal your device and potentially access the funds in yourbank account or credit
cards.
There are definite security advantages to consider which make an e-wallet a
beneficial technology, though it requires responsible management of it to maximize
them.

1.16.5 It may charge you more to process payments.

Many of the electronic wallets which offer a rewards program will charge youa fee to
transfer those rewards. You may be required to process payments in a specific way to
access these benefits as well. When using the PayPal debit program, for example,
consumers receive 1% cash back when their transaction
is a standard signature credit transaction. Using a PIN through a digital walleteliminates
this benefit because you‟re changing how the point-of-sale treats the transaction. If you
spend $900 per month, you‟d be losing over $100 eachyear for the convenience of this
payment method.

28
1.16.6 It could encourage reckless spending.
When money is electronically-based instead of a physical item, some peoplestruggle
with their spending habits. The money doesn‟t feel real, so proper budgeting doesn‟t
take place. If you are already struggling to maintain a budget with a traditional wallet,
then an electronic wallet might make that issue even worse.

These electronic wallet advantages and disadvantages show that this technology makes
it faster and easier to complete a transaction. Although there are some accessibility
issues to consider, for the most part, the use of adigital wallet is a convenient option for
many people.

29
1.17 CONCLUSION
Security is a major issue in online payment system as there are various internetthreats
which affect the security system of internet and increase risk. The current authentication
technique for online payment system is not very secure to protect user from identity theft,
as a result any attacker gain the access on confidential information of user like credit card
number or account password and make illegal transfer of fund. It is proved from our
background study that single factor authentication increases risks posed by phishing,
identity theft, fraud and loss of customer confidential information. Financial institution
should implement an effective authentication to reduce fraud and make strong customer
authentication a necessary to enforce security to assist financial institutions to detect and
decrease user identity thefts. The thesis is based on research work being done towards
secured transaction for mobile payment system which comes under the domain of mobile
commerce. The different types of the payment systems were discussed in the thesis for
security analysisclassified into 4 types Credit card based systems, Electronic checks &
Account Transfers, Electronic cash payment systems and Micropayment systems.

1.18 SUMMARY

E-wallet which are considered as a hi-tech platform for money transacting and payments
have been perceived to be comfortable and reliable, indicating high levels of acceptance.
The e- wallet service providers need to strategize targeting not only at students and the
youth, but also other age groups.

30
CHAPTER NO -2
Research
Methodology

31
2.1 INTRODUCTION AND MEANING.

2.1.1 A research design is the set of methods and procedures used in collecting
and analysing measures of the variables specified in the research problem
research.

2.1.2 The design of a study defines the study type (descriptive, correlation,
semi-experimental, experimental, review, meta-analytic) and sub-type (e.g.,
descriptive-longitudinal case), research problem, hypothesis, independent and
dependent variables, experimental design, and, if applicable, data collection
methods and a statistical analysis plan.

2.1.3 A research design is a framework that has been created to find answers
to research questions.

2.2 DEFINITION OF RESEARCH DESIGN

2.2.1 Research design is defined as a framework of methods and techniques chosen by a

researcher to combine various components of research in a reasonably logical manner so
that the research problem is efficiently handled.

32
2.3 DESIGN TYPES AND SUBTYPES
There are many ways to classify research designs. Nonetheless, the list below offers a
number of useful distinctions between possible research designs. A research design is an
arrangement of conditions or collections.

2.3.1 Descriptive (e.g., case study, naturalistic observation, survey)

2.3.2 Correlational (e.g., case control study, observational study)

2.3.3 Semi-experimental (e.g., field experiment, quasi-experiment)

2.3.4 Experimental (experiment with random assignment)

2.3.5 Review (literature review and systematic review)

2.3.6 Meta-analytic (meta-analysis )

Sometimes a distinction is made between "fixed" and "flexible" designs. In some cases,
these types coincide with quantitative and qualitative research designs respectively, though
this need not be the case. In fixed designs, the design of the study is fixed before the main
stage of data collection takes place. Fixed designs are normally theory-driven; otherwise, it
is impossible to know in advance which variables need to be controlled and measured.
Often, these variables are measured quantitatively. Flexible designs allow for more freedom
during the data collection process. One reason for using a flexible research design can be
that the variable of interest is not quantitatively measurable, such as culture. In other cases,
the theory might not be available before one starts the research.

33
It provides insights about “how” to conduct research using a particular methodology. Every
researcher has a list of research questions which need to be assessed – this can be done with
research design.

The sketch of how research should be conducted can be prepared using research design.
Hence, the market research study will be carried out on the basis of research design.

The design of a research topic is used to explain the type of research (experimental, survey,
correlational, semi-experimental, review) and also its sub-type (experimental design,
research problem, descriptive case-study).

There are three main sections of research design: Data collection, measurement, and
analysis.

The type of research problem an organization is facing will determine the research design
and not vice-versa. Variables, designated tools to gather information, how will the tools be
used to collect and analyse data and other factors are decided in research design on the
basis of a research technique is decided.

An impactful research design usually creates minimum bias in data and increases trust on
the collected and analysed research information. Research design which produces the least
margin of error in experimental research can be touted as the best.

34
2.4 THE ESSENTIAL ELEMENTS OF RESEARCH
DESIGN ARE:
2.4.1 Accurate purpose statement of research design

2.4.2 Techniques to be implemented for collecting details for research

2.4.3 Method applied for analysing collected details

2.4.4 Type of research methodology

2.4.5 Probable objections for research

2.4.6 Settings for research study

2.4.7 Timeline

2.4.8 Measurement of analysis

2.5 RESEARCH DESIGN CHARACTERISTICS

There are four key characteristics of research design:

2.5.1 Neutrality: The results projected in research design should be free from bias and
neutral. Understand opinions about the final evaluated scores and conclusion from multiple
individuals and consider those who agree with the derived results.

2.5.2 Reliability: If a research is conducted on a regular basis, the researcher involved

expects similar results to be calculated every time. Research design should indicate how the
research questions can be formed to ensure the standard of obtained results and this can happen
only when the researchdesign is reliable.

35
2.5.3 Validity: There are multiple measuring tools available for research
design but valid measuring tools are those which help a researcher in gauging
results according to the objective of research and nothing else. The
questionnaire developed from this research design will be then valid.

2.5.4 Generalization: The outcome of research design should be applicable to

a population and not just a restricted sample. Generalization is one of the key
characteristics of research design.

2.6 TYPES OF RESEARCH DESIGN

A researcher must have a clear understanding of the various types of research

design to select which type of research design to implement for a study.
Research design can be broadly classified into quantitative and qualitative
research design.

2.6.1 Qualitative Research Design: Qualitative research is implemented in

cases where a relationship between collected data and observation is
established on the basis of mathematical calculations. Theories related to a
Naturally Existing Phenomenon Can Be Proved Or Disproved Using Mathematical
Calculations.

36
Researchers rely on qualitative research design where they are expected to
conclude “why” a particular theory exists along with “what” respondents have
to say about it.

2.6.2 Quantitative Research Design: Quantitative research is implemented in

cases where it is important for a researcher to have statistical conclusions to
collect actionable insights. Numbers provide a better perspective to make
important business decisions. Quantitative research design is important for the
growth of any organization because any conclusion drawn on the basis of
numbers and analysis will only prove to be effective for the business.

Further, research design can be divided into five types –

2.6.3 Descriptive Research Design: In a descriptive research design, a

researcher is solely interested in describing the situation or case under his/her
research study. It is a theory-based research design which is created by gather,
analyse and presents collected data. By implementing an in-depth research
design such as this, a researcher can provide insights into the why and how of
research.

2.6.4 Experimental Research Design: Experimental research design is used to

establish a relationship between the cause and effect of a situation. It is a
causal research design where the effect caused by the independent variable on
the dependent variable is observed. For example, the effect of an independent

37
variable such as price on a dependent variable such as customer satisfaction or
brand loyalty is monitored. It is a highly practical research design method as it
contributes towards solving a problem at hand. The independent variables are
manipulated to monitor the change it has on the dependent variable. It is often
used in social sciences to observe human behaviour by analysing two groups –
affect of one group on the other.
2.6.5 Correlational Research Design: Correlational research is a non-
experimental research design technique which helps researchers to establish a
relationship between two closely connected variables. Two different groups
are required to conduct this research design method. There is no assumption
while evaluating a relationship between two different variables and statistical
analysis techniques are used to calculate the relationship between them.

Correlation between two variables is concluded using a correlation coefficient,

whose value ranges between -1 and +1. If the correlation coefficient is
towards
+1, it indicates a positive relationship between the variables and -1 indicates a
negative relationship between the two variables.

2.6.6 Diagnostic Research Design: In the diagnostic research design, a

researcher is inclined towards evaluating the root cause of a specific topic.
Elements that contribute towards a troublesome situation are evaluated in this
research design method.
There are three parts of diagnostic research design:

• Inception of the issue

• Diagnosis of the issue

• Solution for the issue

38
2.6.7 Explanatory Research Design: In exploratory research design, the
researcher‟s ideas and thoughts are key as it is primarily dependent on their
personal inclination about a particular topic. Explanation about unexplored
aspects of a subject is provided along with details about what, how and why
related to the research questions.

2.7MEANING OF DATA

Data collection plays a very crucial role in the statistical analysis. In research,
there are different methods used to gather information, all of which fall into
two categories, i.e. primary data, and secondary data. As the name suggests,
primary data is one which is collected for the first time by the researcher
whilesecondary data is the data already collected or produced by others.

2.8 DIFFERENCE BETWEEN PRIMARY DATA AND

SECONDARY DATA
There are many differences between primary and secondary data, which are
discussed in this article. But the most important difference is that primary data

is factual and original whereas secondary data is just the analysis and
interpretation of the primary data. While primary data is collected with an aim
for getting solution to the problem at hand, secondary data is collected for
other purposes.

39
2.8.1 Content: Primary Data Vs Secondary Data

1. Comparison Chart

2. Definition

3. Key Differences

4. Conclusion

2.8.2 Comparison Chart

BASIS FOR COMPARISON PRIMARY DATA SECONDARY DATA

Meaning Primary data refers to the first hand data gathered by the researcher
himself.Secondary data means data collected by someone else earlier.

Data Real time data Past data

Process Very involved Quick and easy

Source Surveys, observations, experiments, questionnaire, personal interview, etc.

Government publications, websites, books, journal articles, internal records etc.

Cost effectiveness Expensive Economical

Collection time Long Short

Specific Always specific to the researcher's needs. May or may not bespecific
to the researcher's need.

Available in Crude form Refined form Accuracy

and Reliability More Relatively less

40
2.8.3 Definition of Primary Data

Primary data is data originated for the first time by the researcher through direct efforts and
experience, specifically for the purpose of addressing his research problem. Also known as
the first hand or raw data. Primary data collection is quite expensive, as the research is
conducted by the organization or agency itself, which requires resources like investment
and manpower. The data collection is under direct control and supervision of the
investigator.

The data can be collected through various methods like surveys, observations, physical
testing, mailed questionnaires, questionnaire filled and sent by enumerators, personal
interviews, telephonic interviews, focus groups, case studies, etc.

2.8.4 Definition of Secondary Data

Secondary data implies second-hand information which is already collected and recorded
by any person other than the user for a purpose, not relating to the current research
problem. It is the readily available form of data collected from various sources like
censuses, government publications, internal records of the organisation, reports, books,
journal articles, websites and so on.

Secondary data offer several advantages as it is easily available, saves time and cost of the
researcher. But there are some disadvantages associated with this, as the data is gathered
for the purposes other than the problem in mind, sothe usefulness of the data may be
limited in a number of ways like relevance and accuracy.

Moreover, the objective and the method adopted for acquiring data may not besuitable to
the current situation. Therefore, before using secondary data, these factors should be kept in
mind.

41
2.8.5 Key Differences Between Primary and Secondary Data

The fundamental differences between primary and secondary data are

discussed in the following points:

The term primary data refers to the data originated by the researcher for the
first time. Secondary data is the already existing data, collected by the
investigator agencies and organizations earlier.

Primary data is a real-time data whereas secondary data is one which relates to
the past.

Primary data is collected for addressing the problem at hand while secondary
data is collected for purposes other than the problem at hand.

Primary data collection is a very involved process. On the other hand,

secondary data collection process is rapid and easy.

Primary data collection sources include surveys, observations, experiments,

questionnaire, personal interview, etc. On the contrary, secondary data
collection sources are government publications, websites, books, journal
articles, internal records etc.

Primary data collection requires a large amount of resources like time, cost
and manpower. Conversely, secondary data is relatively inexpensive and
quickly available.

Primary data is always specific to the researcher‟s needs, and he controls the
quality of research. In contrast, secondary data is neither specific to the
researcher‟s need, nor he has control over the data quality.

Primary data is available in the raw form whereas secondary data is the refined
form of primary data. It can also be said that secondary data is obtained when
statistical methods are applied to the primary data.

42
Data collected through primary sources are more reliable and accurate as
compared to the secondary sources.

2.9 Conclusion
As can be seen from the above discussion that primary data is an original and unique data,
which is directly collected by the researcher from a source according to his requirements.
As opposed to secondary data which is easily accessible but are not pure as they have
undergone through many statistical treatments.

43
CHAPTER NO -3
REVIEW OF
LITERATURE

44
3.1 REVIEW OF LITERATURE
SINGAL, NIDH (2016)

The article discusses the mobile wallet that loads money for payment of bills which is
hassle free and saves time. topics mentioned include the high success rate on making
payments with transactions in less than 10 seconds, the loadingof money which does not
risk the credit card and bank account limit, and the offered services by electronic commerce
company Paytm including buying tickets, institutions fees payment, and money transfers

KORZENIOWSKI, PAUL (2014) The article discusses the emergenceof mobile

wallets and how it changed customer experience in payment process. Topics include the
appeal of mobile commerce functions in smartphones to consumers, the use of more
personalized shopping experiences, and the near field communication (NFC) system. Also
mentionedis information on the role of PayPal, the formation of payment infrastructure
company Merchant Customer Exchange (MCX), and the selection of an open or close loop
design in transactions. INSETS: A Digital Wallet Versus a Mobile Wallet; Back to Square
One. Holmes, Tamara E. (2012) The article offers advice on how to protect one's financial
information in digital wallets from getting into the wrong hands. It warns of spoofed
invoices which look legitimate and request payments through wire transfer or direct bank
transfer.It also advises against clicking on links in e-mails and to avoid providing personal
information such as Social Security number. It suggests setting a passcode on smartphones
to avoid becoming a victim of identity fraud.
Adams, John(2012) The article discusses the outlook for electronic wallet

payment systems from the perspective that the U.S. banking industry has to attract users in
the mobile wallet market and understand the mobile wallet

market's ecosystem. Bell, Stephanie (2011) The article presents information about a deal
between Littlewoods Europe company and Optimal Payments PLC for Optimal‟s NE teller
electronic wallet and discusses how the virtual payment method works for online shopping.
Quittner, Jeremy (2012) The article focuses on a security problem in Google Inc.'s digital
wallet which is linked to prepaid accounts where users store funds. The research firm vela
Inc. found the PIN (personal identification number) code used for authentication and other
user information in Google's Wallet

application can be extracted by a computer hacker.

45
CHAPTER NO - 4
DATA
COLLECTION
& DATA ANALY

46
DATA COLLECTION AND DATA ANALYSIS
4.1 INTRODUCTION
The analysis and interpretations given for the data collected are based on the objectives of
the study. Collected data is classified and suitable tables and charts are formed to analyse
the data. It is also further classified into two data sections namely primary data and
secondary data. The statistical tool used to analyse the questionnaire and arrive at
conclusions for the research project are percentage and graphical representation with the
help of bar and column diagrams and pie charts.

The data is further divided into primary data and secondary data. Properanalysis is done on
the data collected and it is interpreted based on the data collected.

4.2ANALYSIS AND INTERPRETATION

The primary data is collected by case study and questionnaire method and there are 65% of
the respondents. The analysis is interpreted as follows:

A} PRIMARY DATA

QUESTIONNAIRE METHOD

The data collected through the questionnaire survey was analysed and represented in the
form of tables and graphs which are as follows:

47
Table.4
Particular Responses Percentage%
Fully 24 60%
aware
Partly 14 35%
aware
Not aware 2 5%

total 40 100

Fig.1

INTERPRETATION
The above pie diagram shows whether the respondents have knowledge about e-wallet.
60% respondents are fully aware about e-wallet and the rest 35% respondents have partly
aware about e wallet. This analysis represents that majority of the respondents having
knowledge of e-wallet and very few of the respondents having less information about e-
wallet and e- transaction.

48
Table.4

Particular Responses Percentage%

Social media 27 67.5%
Friends 10 25%
Magazines/television 3 7.5%

Total 40 100

Fig.2

INTERPRETATION
The above pie diagram shows that the 67.5% people are knowing e-wallet through social
media and remaining 25% people get information about e- wallet through friends.7.5%
people get information about e-wallet by magazines and television.

This analysis represents that majority of respondents are get information aboute-wallet
through social media.

49
Table.5
Particular Responses Percentage%
Yes 32 82.1%
No 07 17.9%
Total 39 100%

Fig.3

INTERPRETATION
The above pie diagram shows that the 82.1% people are using e-wallet in totalrespondents.
And 17.9% people not using e-wallet in total respondents.

This analysis shows that there are more users of e-wallet.

50
Table.5
Particular Responses Percentage%
Time 11 28%
saving
Ease to 07 17.5%
use
Security 05 12.5%

Total 23 100

Fig.4

INTERPRETATION
The above pie diagram shows reason to prefer e-wallet. 28% people are using e-wallet to
save their time and 17.5% people feel that this is easy to use and remaining 12.5% people
feel secure when they use e-wallet.

This analysis represents that majority of respondents are use e wallet for save their time.

51
Table.5
Particular Responses Percentage%
Smartphone 26 66.7%
Computer 10 25.7%
Both 3 7.7%

Total 39 100

Fig.5

INTERPRETATION
The above pie diagram shows that 66.7% people use e-wallet in smartphones and 25.7%
people use computer for e-transaction. And remaining 7.7% peopleuse smartphone as well
as computer for e-transaction.

This analysis represents that majority of the respondents having e-wallet in smartphone and
usually they prefer e-wallets to make transaction.

52
Table.5
Particular Responses Percentage%
Paytm 19 47.5%

Google 14 35%
pay
Free 04 10%
charge
Phone pay 02 5%

Banking 01 2.5%
application
Total 40 100

Fig.6

INTERPRETATION

In the above pie diagram 47.5% of people prefer using Paytm for online transaction. Only
2.5% people prefer using the actual bank application for online transaction. The above
analysis represents that maximum people prefer to use e-wallet for their day today
transactions.

53
Table.5
Particular Responses Percentage%
Money 9 23.1%
transfer
Recharge 3 7.7%

Bill 4 10.3%
payment
All of 23 59%
above
Total 39 100

Fig.1

INTERPRETATION
In the above pie diagram 23.1% people use e-wallets for Money Transaction. 10.3% people
use e-wallet for Bill Payments and the remaining 7.7% people use e-wallet for recharge
purpose.

The above analysis represents that around 52% people use e-wallet for variouspurposes.

54
Table.5
Particular Responses Percentage%
Available 15 37.5%
offers
Premium 7 17.5%
discount
Cash back 18 45%

Total 40 100

Fig.8

INTERPRETATION
In the above pie diagram 45% people expect cash back while using e-wallets. While 37.5%
people expect for available offers. And the remaining 17.5% people expect for premium
discount.

The analysis represents that most people have available offers in their mind while using e-
wallet.

55
Table.5
Particular Responses Percentage%
Only ones 13 33.3%

5 to 10 20 51.3%
times
More than 6 15.4%
10 times
Total 39 100

Fig.9

INTERPRETATION
In the above pie diagram 33.3% people used e-wallet only once in 30 days and51.3%
people used e-wallet 5 to 10 times in 30 days of month and remaining 15.4% people make
transaction through e-wallet more than 10 times in a month.

The analysis shows that most people used e-wallet 5 to 10 times in a month.

56
Table.57
Particular Responses Percentage%
Less 22 57.9%
than5000
5000 to 7 18.4%
10000
More than 9 23.7%
10000
Total 38 100

Fig.10

INTERPRETATION
In the above pie diagram 57.9% people add less than 5000 in e-wallet and 18.4% people
add 5000 to 10000 rs in e-wallet. And the remaining 23.7% people add more than 10000 rs
in e- wallet.

The analysis represents that most people have added less than 5000 rs

57
Table.58
Particular Responses Percentage%
Very 13 33.3%
satisfied
Satisfied 19 48.7%
natural 7 17.9%

unsatisfied 0 0

Total 39 100

Fig.11

INTERPRETATION
The above pie diagram shows that 48.7% people are satisfied by the service ofe-wallet.
33.3% people were very satisfied and 17.9% people were neutrally satisfied by the service
of e- wallet.

The analysis represents that most of the people were satisfied by the services of e-wallet.

58
Table.59
Particular Responses Percentage%
Very 14 35.9%
likely
Likely 24 61.5%
Unlikely 1 2.6%

Very 0 0
unlikely
Total 39 100

Fig.12

INTERPRETATION
The above pie diagram shows that 61.5% people would continue to likely use e-wallet and
35.9% people would continue to very likely use e-wallet and remaining 2.6% people would
not continue using e-wallet

The analysis represents that most people would likely continue to use e-wallet.

59
Table.60
Particular Responses Percentage%
Yes 24 61.5%
No 15 38.5%
Total 39 100

Fig.13

INTERPRETATION
The above pie chart shows that 61.5% people face obstacles while using e-wallet and
38.5% people dont face any obstacles while using e-wallet.

The analysis represent that most people are face obstacles while using e-wallet.

60
Table.14
Particular Responses Percentage%
Strongly 35 92.1%
agree
Strongly 3 7.1%
disagree
Total 38 100

Fig.14

INTERPRETATION

The above pie diagram shows that 92.1% people agree that e-wallets areuseful while
7.1% people disagree to it.

The analysis represents most people are agree that e-wallets are useful.

61
Table.62
Particular Responses Percentage%
Strongly 35 92.1%
agree
Strongly 3 7.9%
disagree
Total 38 100

Fig.15

INTERPRETATION
The above pie diagram shows that 92.1% agree that transactions made by e-wallet are
secured while 7.9% people disagree to it.

The analysis represent that most people agree that the transaction made by e-wallet are
secured.

62
Table.63
Particular Responses Percentage%
Yes 30 81.1%
No 7 18.9%
Total 37 100

Fig.16

INTERPRETATION

The above pie diagram shows that 81.1% people agree that e-wallet promotescashless
payment the next level while 18.9% people do not agree to it.

The analysis represents that most people agree that using e-wallet promotescashless
payment to the next level

63
Table.64

CHAPTER NO -5
CONCLUSION
&
SUGGESTION
64
5.1 CONCULSION

E-wallet which are considered as an hi-tech platform for money transactingand payment
shave been perceived to be comfortable and reliable, indicating high levels of acceptance.
The e-wallet service providers need to strategize targeting not only at students and the
youth, but also other age groups.

Present study has made an attempt to understand customer perception regarding digital
payment. It was found that demographic factor except education does not have much
impact on the adoption of the digital payment. A nova computation supported this finding
as there was no significationdifference is perceived by the respondents on the basis of
gender age, profession and annual income. It was only education level of the respondents
where signification difference is perceived by the respondents. It indicates thatadoption of
digital payment is influenced by the education level of the customer. If a person has studied
beyond matriculation and internet savvy, he or she will be inclined to use the digital
payment mode. It was also found that in the areas/region where education level is high such
as Delhi NCR and other metropolitan area, the possibility of acceptance of digital payment
is much higher. The growth of users of Smartphone and internet penetration in such area
also facilitated the adoption of digital payment

65
5.2 FINDINGS OF THE STUDY

The mean scores of the factors were all Likert scale midpoint of 2.5influencing
very low status of these independents in e-wallet usage.

The price related factor namely „cost saving‟ and discount benefits seemed tobe
low considered (mean scored of 2.90 and 2.93 respectively).

That secured privacy and secured transaction are more primary reasons for e-wallet
preference.

Very low status of these independents in e-wallet usage.

That e-wallets are adopted in spite of the difficulties it might pose

More than ninety-five percentage of the respondents had a possible apps in themobile
phones for making e-pay

66
5.3 SUGGESTIONS

The Indian government says that it aimed to improve the digital mode of payments in the
country, however, the actions required for this direction are not adequate.
Earlier this week, an official from Confederation of All India Traders revealedthat the bank
cheque facility may be withdrawn in the near future to boost digital payments especially,
card payments.
But, it is not known how much forcible actions would succeed. Many educated people
these days are interested in using their cards for all their needs. Yet, the problem is the
additional charges on the use of cards.
Many merchants at their PoS charge extra one or two per cent on the total amount of the
bill which causes many customers to step backward from their cards.

Merchants want to collect their rental charges or transaction charges that are charged by the
banks from their customers who use their cards at their machines.
As a result, use of card payments are discouraged by people. If banks encourage their
merchants by eliminating charges if they use certain number of transaction per month, then
merchants can encourage their customers to usecards to reach their target transactions.
Then, customers will also use them happily.
Many government departments or institutions like electricity department are charging
additional amount as service charge on card payments. In one way, government wants to
improve digital transactions and in another way they are discouraging with additional
charges.

In a country like India, where the majority of people are price sensitive, government should
encourage the citizens positively.
But, in reality the card payments and even net banking attracts charges so people are not
interested to use them. They prefer to use cash with its easy handling and lack of charges.
Rather than imposing additional charges, government should find out the waysto improve
digital payments.

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5.4 BIBLIOGRAPHY
1. Cross Industry Work Team Report
2. David Chaum's DigiCash. Link from the Internet Archive
Wayback Machine. This may take a few minutes.
3. CyberCash, Inc.
4. Sandia Lab's Electronic Cash

Anonymous Credit Cards

1. Bell Labs Description. FTP link no longer working. The link was
ftp://ftp.research.att.com/dist/anoncc/anoncc.ps.Z
2. Analysis of Collusion in above. FTP link no longer working. The link
was ftp://ftp.research.att.com/dist/anoncc/collude.ps.Z.

Putting it all together

1. Using Anonymous Credit Cards to pay for services. FTP link no longer
working. The link was
ftp://ftp.research.att.com/dist/anoncc/accinet.ps.Z
2. IISP's call for standards for Payment & Billing
3. iKP Electronic Payment Protocols from IBM. Link from the Internet
Archive Wayback Machine. This may take a few minutes.
4. MIT Simple Network Payment Protocol
5. CMU's NetBill System. Link from the Internet Archive Wayback
Machine. This may take a few minutes.
6. Open Market System
7. PayMe: Secure Payment for World Wide Web Services
8. Clickshare
9. Ziplock. Link from the Internet Archive Wayback Machine. This may
take a few minutes.
10.Vishnu from HP Labs in Bristol, A Secure, Cheap and
Exportable/Importable Method for Internet Electronic Payments
11.Inter-Mark, credit card processing software. Link from Internet Archive
Wayback Machine. This may take a few minutes.
12.WebCharge. Link from Internet Archive Wayback Machine. This may
take a few minutes.
13.Digital Money, collect payments via modem, phone, fax, mail

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 14.Interval
15.Electronic Funds Clearinghouse

Electronic Checks

1. BankNet
2. Checkfree
3. Electronic Funds Clearinghouse, Inc.
4. FSTC Electronic Check Project
5. NetChex
6. Online Check Systems
7. Redi-Check, pre-authorized check drafts
8. Intell-a-Check

Reports

1. Designing a Generic Payment Service

2. E-Money FAQ compiled by Jim Miller
3. Agenda for IETF project
4. Electronic Money and Money in History
5. Journal of Internet Banking and Commerce

Micropayments

1. Micro Payment Transfer Protocol (MPTP)

2. Millicent
3. PayWord and MicroMint
4. NetCard from Cambridge University

Smart Cards

1. Mondex on the Net

2. NetFare

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Pointers to Pages of Pointers

1. Matthew Pierce's List of Electronic Payment Systems

2. SIRENE's collection on Electronic Commerce
3. W3C's list of Payment Systems
4. NetBill's collection of related pointers. Link from the Internet Archive
Wayback Machine. This may take a few minutes.
5. Hal Varian's Electronic Commerce Links

5.5 WEBLIOGRAPHY

 www.thenewsnow.co.in
 https://krazytech.com
 https://m.timesofindia.com
 www.etcio.economictimes.indiatimes.com
 https://us.norton.com
 https://www.digitn
 https://m.hindustantimes.com

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