SRNK GOVERNMENT DEGREE COLLEGE, BANSWADA

KAMAREDDY(DIST.),TELANGANA

NAAC ACCREDITED WITH ‘B’GRADE

(AFFILIATED TO TELANGANA UNIVERSITY)

JIGNASA 2019 – 20

STUDENT STUDY PROJECT

DEPARTMENT OF COMMERCE

AN EMPRICAL STUDY ON CONSUMER ADOPTION OF

MOBILE- WALLET
INSPECIAL REFERENCE TO BANSWADA REGION

SUBMITTED BY:

1. N.PRAGATHI H.T NO: 19055034405053 (B.COM IYEAR)

2. SAI DEEPTHI H.T NO: 18055034405056 (B.COM IIYEAR)

3. MOUNIKA H.T NO: 18055034401009 (B.COM IIYEAR)

4. B.LOUKIK VARMA H.T NO: 18055034405002 (B.COM IIYEAR)

5. DURGA KALYANI H.T NO: 19055034405036 (B.COM I YEAR)

6. K. BABU H.T.NO:18055034405027 (B.COM II YEAR)

GUIDED
BY
DR.G.SHANKER RAO (Lecture in commerce)
INDEX

1. Introduction
2. Relevance To The Topic

3. Objectives Of The Study

4. Different Types Of E-Wallet

5. Digital Wallet In India

6. Benefit Of Mobile Wallet

7. Methodology

8. Data Analysis And Interpretation

9. Findings

10. Suggestion & Conclusion

11. References & Questionnaire

 AN EMPERICAL STUDY ON CONSUMERS ADOPTION OF MOBILE
WALLET WITH SPECIAL REFERENCE TO BANSWADA REGION
Abstract:

In present world smart phone play an important role in the daily life of people. The
technological advancement has made smart phone as devices were the mobile users can make
money transaction or payment by using application installed in phone. The present study aim
to explain the application and usage of wallet money endorsed by different companies and
various factors that affect the consumer’s decision to adopt mobile wallet and various risk
and challenges faced by the user’s op mobile wallet. A structured questionnaires was
prepared and data were collected from 150 respondents and factors effecting the adoption and
usage of mobile wallet was analysed by different statistical tools.

Key words: Mobile wallet, Smart phone users, Mobile payment.

Introduction

The development of technology and technological advancement as made smart phone to

become essential part of daily life of people .Smartphone are used as a source of
communication device, socialized tool, entertainment, internet and even payment tool.
Mobile wallet with the support of mobile technology as allowed the owners of smart phone to
carry out many financial transaction and identification implements .The identification
implements include name, type and other key words which enhances the security for all the
data’s on the mobile wallet and these data’s are encrypted and lost data’s can be recovered by
using a backup option. The mobile wallet money is used in the various areas of the world
business like Banks, Customers and Companies. The Banks have taken a better position in
providing a better. transaction services and payment to the customers requirement .For
customers are dragged by the shopping facilities that is given by mobile wallet and customers
are attracted because of convenience and speedy transaction .In case of companies, the
companies aims at providing facility of transaction services and payment choice to their
clients and the multiple payment combination facility providing by the company are attached
to mobile wallet service.

Objective of the study:

1.To study the consumers perception towards mobile wallet

2.To study the factors that influence consumers in adoption of mobile wallet.

3.To study the problem faced by consumers in use of mobile wallet.

4.To study the type of mobile wallets.

5.To study the advantages of mobile wallet.

Review of Literature
The review of literature focused around 35 information systems based on marketing,
business, and administration. The period of the study 45 days. To identify articles on digital
wallet, the research involved database and various key terms such as digital wallet adoption,
mobile banking adoption, intention towards adoption of digital wallet services,
demonetization,
POONAM PAINULY and SHALU RATHI (2016) in their research paper “Mobile
wallet :An upcoming mode of business transaction “have analysed that ease of
transaction ,secured profile and convenience in handling application put forth the benefits of
wallet money and also concluded that business sectors like banking ,retail, hospitality etc.,
are making use of wallet money and mobile payment instruments including contactless and
remote payment in the customers –business and customers to customers areas.
RAJESH KRISHNA BALAN, NARAYAN RAMASUBHU, GIRI KUMAR TAYI (2006) in
their research paper “Digital wallet: Requirement and challenges “have identified about
Singapore’s use of digital wallet and analysed the key challenges in building and deploying a
digital wallet.
Dr.HEM SHWETA RATHORE in her research paper “Adoption of Digital wallet by
consumers “have analysed about the factors that influence consumers in adoption of digital
wallet and also analysed the risk and challenges faced by consumers in usage of digital wallet
and concluded that shoppers are adopting digital wallet largely due to convenience and ease
to use and in the future years digital wallet will gain more widespread acceptance.

Different Types of E-Wallet:

According to Reserve Bank of India four kinds of wallet money that are available are

 Open Wallet: Open wallet enables the users to buy goods and services, withdraw
cash at ATM or bank and transfer funds. M-pesa by Vodafone and ICICI is a good
example for open wallet.
 Semi-Open Wallet Semi :–open wallet allows you to transact with merchants that
have contract with the companies for e.g. Airtel money is a semi –open wallet were
merchants have contract with Airtel in which withdrawal of cash is not possible or can
get it back but you can spent the money what you have loaded.
 Closed Wallet: Closed wallet is a popular with E-commerce were certain amount of
money is locked with the merchant in case of cancellation on or return of the order or
gift cards .
 Semi-Closed Wallet :A semi-closed wallet allows us to buy goods and services at
listed merchant and perform financial services at listed location but a semi –closed
wallet does not permit cash withdrawal or redemption for e.g. .PAYTM.
Digital Wallet in India

 Airtel Money

With the Airtel Money app, users can easily recharge prepaid accounts or pay postpaid bills.
You can also shop online if your digital wallet has cash loaded in it. It’s also extremely safe
as every transaction or payment you make requires a secret 4-digit mPin.

 HDFC PayZapp :HDFCPayZapp, making digital payment in India simplified with

one click payments, is one of the top online wallets in India. Users can easily
compare flight and hotel tickets and even buy music or pay bills with the app. Simple
connect your debit/credit card once and forget worrying about making payments.
 ICICI Pocket While :you might find a Pocket card redundant, considering you’re
opting for an e-wallet app to avoid using a card, they do have a pretty neat wallet app.
It’s VISA powered and can be used on any Indian website, or to transfer money to
email ids, Whats App contacts, and also just tap and pay your friends easily.
 JioMoney :JioMoney, launched recently in 2016 by Jio, is a digital payment app.
With JioMoney, one can receive great discounts and offers. Users can also bookmark
their frequently visited retailers so shopping can be made quicker than usual.
 PaytmPaytm: launched in 2010, is currently the largest mobile wallet app in India.
With payments via Paytm being accepted almost everywhere; it’s hard not to simply
switch to it completely. From paying mobile bills to buying movie tickets, there’s
almost nothing you can’t do with Paytm.
 State Bank Buddy: State Bank Buddy, a product of State Bank of India, is an online
wallet in India that’s available in 13 languages. Users (non SBI account holders too)
can send money via Facebook, or to other bank accounts, book hotels or movie
tickets and much more.
 Google pay:It is platform and online payment system developed by Google to power
in app and tap to pay purchases on mobile devises enabling users to make payments
with android phones tablet or watches.
 SBI yono:It is a integrated digital digital banking platform offered by state bank of
india to enable users to access a variety of financial and other services such as flight,
train ,bus and taxi Bookings , online shopping or medical bill payments.
Benefits of Mobile Wallet
The various benefits of mobile wallet are

 Lower Cost :Purchases made in stores now –a-days does not require cash because
purchasing process is been made simple by tapping on the mobile device. The point of sale
system as reduced transaction cost of business.

 Competitive Advantage: Mobile wallet application provides a more comfortable

transaction process to the customers giving business that employ this technology a
competitive edge in the market

 Modern Mobile wallet opens up an entirely new aspect to payment method on large
markets, introducing Many businesses opportunities and greater potential revenue.

 Convenience Consumers are able to make their purchase in seconds with simply tapping on
their mobile device .The purchasing is made quicker and easier bringing satisfaction to the
consumers

Methodology:
This study was based on primary data collected from 150 respondents Banswada Region by
means of structured questionnaire wise collected. from respondent data collected interview
method and Analysis Interpretation. The data procured with the help of tabular analysis
method as well as simple statistical techniques like measure of central tendency, percentage
are used with help of different graphs and charts.
Demographical Analysis
Table 1 : Respondent age group

Age No.of Respondent Percentage

Upto 25 yrs 45 30%
26 to 35 yrs 40 26.67%
36 to 45 yrs 35 23.33%
46 to 55 yrs 20 13.3%
Above 55 10 6.7%
yrs
Interpretation:

It is inferred from the table personal information that out of the total respondents taken for the
study 30% of the respondents are in the age group up to 25 years and 26.6% of the
respondents are in the age of 26 to 35 years.

Table 2: Respondent gender group:

Gende No of respondent percentage

r
Male 90 60%
Femal 60 40%
e
Interpretation:

It is inferred from the table personal information that out of total responmdent taken from the
study 60 percentage of the respondent are male and 40 % of the respondent are female .
Table No: 3 Respondent Education
Education No of respondent percentage
School level 20 13.3%
Graduate 70 46.7%
Post graduate 30 20%
Professional 30 20%
Interpretation:

It is inferred from the table personal information that out of the total respondents taken for the
study 46.7% of the respondent are graduate & 20% of the respondent are post Graduate.

Table No: 4 marital status of Respondent

Marital status No of respondent percentage
Married 90 60%
Un married 60 40%
Interpretation:
It is inferred from the table personal information that out of the total respondents taken for the
study 60% of the respondent are Married & 40% of the respondent are Un married.

Table No: 5 Respondent occupation

Occupation No of respondent percentage
Students 5 3.3%
House wife 15 10%
Self employed 20 13.3%
Employed 100 67%
Retired 10 6.7%
employs
Interpretation:

It is inferred from the table personal information that out of the total respondents taken for the
study 3.3% of the respondent are Students 10% of the respondent are House wife 13.3 % of
the respondent are self employed.

Table No:6 Respondent monthly income

Income No of respondent percentage
Rs
Below Rs.10,000 20 13.3%
10,000-20,000 80 53.3%
20,000-30,000 30 20%
Above 30,000 20 13.3%

Interpretation:

It is inferred from the table personal information that out of the total respondents taken for the
study 53.3% of the respondent are belong to the monthly income of Rs 10,001to 20,000and
13.3% of them belong to below 10,000 as their income level per month.
Data Analysis And Interpretation

Figure -1: shows digital buyers period based

Interpretation:

In the figure 1 above E wallets are a common trend among the youth today and they are
used in for one purpose or other depending on the facilities available. Factors accepted by
youth regarding digital payment. On the basis of year wise customers are increasing. In the
year 2014 , 616.1 million people used and 2019, 1139.6 million people is increased of
customers mobile wallets users.
Figure 2:Using of mobile wallets satisfaction of the customers respondents.

30

20

1 2 3 4 5 6 7
10

Strongly Strongly
Disagree Agree Disagree Agree

Interpretation:

 Majority of the people give importance to in their day to day life.

 Majority of the people agree to the fact that mobile wallets offers a flexible service.

 Larger part of the general population concurs that mobile wallets helps customers and
vendors in changing to versatile instalments.

 Larger part of the general population concurs prefer mobile wallets mainly because of
its services

 Larger part of the general population agree that mobile wallets gives importance to
safety

 People agree to the fact thatmobile wallets created a balance between cost and
efficiency.

 Majority of the general population agree that mobile wallets supports Pay through
mobile.
Figure 3: Shows occupation wise no of respondents using mobile wallets

No of respondent

10 5
15
Students
House wife
20 Self employed
Employed
Retired employs

100

Interpretation: From the above figure usage of wallets occupation wise Employees using
67% and self employees are occupied 13.3% and last position of the using wallets by
Students.

Findings:

 It is clear that mobile wallet will alter the other modes of online payment in future

 The users of mobile wallet are much satisfied on its usage

 Factors like brand loyalty, convenience of shopping plays an important role in

adoption of mobile wallet

 Security and safety of funds plays a challenging factor for the users.

Conclusion
Mobile wallet usage awareness as spread among the people in Banswada regian to
government policy of demonetization and this as forcefully induced the usage of mobile
wallet. The security issues are tighten and risk factors are reduced will automatically increase
the adoption of mobile wallet. Apart from these issues the convenience and ease of use as
gained an credit to mobile wallet and it can be concluded that they will be a tremendous
growth in adoption of mobile wallet in the forthcoming years.

SUGGESTIONS:

 Enable Passwords on your Devices

 Use of secure network connections

 Install apps from sources your trust

 Keep your private stuff private

 Keep login credential secure

 Create a unique passwords for your digital wallet

 Identify who to contact if there are lssues, before one arises

References:
[1] POONAM PAINULY and SHALU RATHI (2016) “Mobile wallet: An upcoming mode of
business transactions “International journal in management and social science .volume 4 pp356- 363.

[2] Dr.HEM SHWETA RATHORE (2016) “Adoption of digital wallet by consumers” BVIMSR’s
journal of management research. Volume 8 issue 1, pp 69-75.

[3] NGOC DOAN(2014) “Adoption of digital wallet by consumers”www.google.com

[4] AULAKH.,G. (2016). How wallet companies like paytmmobikiwik oxygen wallet are trying to
prevent fraudulent mobile transactions, retrieved from

[5] Axis Bank Launches Mobile Wallet to Shop, Pay and Bank (2015, Sept 11) The Business
Standard, Retrieved from www.business-standard.com/article/finance/axis-bank-launchesmobile-
wallet-to-shop-pay-and-bank
The above images shows student collecting the data through questionnaires
 QUESTIONNAIRE

1. Name:

2. Age:

3. Occupation:________________________________

4. Qualification_______________________________

5. Are you aware of mobile wallets

a) yes b)no

6. What type of Digital wallets you prefer mostly_________________

7.Reason for opting mobile wallet______________________________

8.How long you using mobile wallet_____________________________

9.While you using mobile wallet have you face any difficulties______

10.What type of benefits you are getting_________________________

11. Is mobile wallet use full

a. Agree b. Disagree c. Strongly agreed d. Strongly disagree

11.Any suggestion___________________________________________