Aparna M A Final Project Full

A STUDY ON THE AWARENESS AND ACCEPTANCE OF VARIOUS
E-PAYMENT APPS AMONG YOUTH IN ALUVA

The Dissertation is submitted to the Mahatma Gandhi University in partial fulfillment of the
requirement for the degree of
MASTER OF COMMERCE
2021-2023
Submitted by,
APARNA M A
(Reg. No. 210011025308)

Under the Guidance of
Dr. NISHA JOSEPH
Assistant Professor of PG Department of
Commerce Al-Ameen College, Edathala
PG DEPARTMENT OF COMMERCE
AL-AMEEN COLLEGE, EDATHALA
(Affiliated to Mahatma Gandhi University, Kottayam)
2021-2023
AL-AMEEN COLLEGE EDATHALA
PG DEPARTMENT OF COMMERECE
CERTIFICATE
This is to certified that the dissertation entitled “A STUDY ON THE AWARENESS AND
ACCEPTANCE OF VARIOUS E-PAYMENT APPS AMONG YOUTH IN ALUVA” is
a bonafide record of the project work carried out by Ms. APARNA M A in partial fulfillment
for the award of the degree of Master of Commerce of Mahatma Gandhi University,
Kottayam during the year 2023.She has presented the project with the help of audio-visual
aids.
Dr. Cini Kurian Prof. Shamila N A

Principal Head of the Department
Al-Ameen College, Al-Ameen College,
Edathala Edathala
Dr. Nisha Joseph

Supervising Guide
PG Department of Commerce
Al-Ameen College, Edathala
DECLARATION
I hereby declare that the dissertation entitled “A STUDY ON THE AWARENESS AND
ACCEPTANCE OF VARIOUS E-PAYMENT APPS AMONG YOUTH IN ALUVA” is a
bonafide research carried out by me under the guidance and supervision of Dr. Nisha Joseph PG
Department of Commerce, Al-Ameen College, Edathala, in the partial requirement for the award
of the degree of Master of Commerce under M.G University, Kottayam.
I further declare that this work has not been previously formed the basis for the award of any
academic qualifications, fellowship or other similar titles of recognition.
Place: Edathala APARNA M A

Date: Reg. No. 210011025308
ACKNOWLEDGEMENT
I am very much delighted to present the dissertation on “A STUDY ON THE
AWARENESS AND ACCEPTANCE OF VARIOUS E-PAYMENT APPS
AMONG YOUTH IN
ALUVA”. I express my sincere thanks to Dr. Cini Kurian, Principal of Al-Ameen College,
Edathala and Mrs.Shamila N A, Head of PG Department of Commerce, Al-Ameen College,
Edathala for the expert assistance & cooperation for the successful completion of this
dissertation.
I would like to express my profound gratitude to Prof. Dr. Nisha Joseph, PG Department of
Commerce, Al-Ameen College, Edathala for her valuable guidance and encouragement in
completing this work.
I am thankful to other faculty members of PG Department of Commerce for their valuable

assistance throughout my academic career in the college.
I am greatly indebted to my family in supporting for the completion of this project work and
also express my special thanks to all my friends for the preparation of project work.
I wish to extend my sincere gratitude to all who have helped me directly or indirectly in
completing this dissertation work.
Above all, I thank GOD ALMIGHTY for guiding my steps.
APARNA M A
CONTENTS
Certificate
Declaration
Acknowledgement
List of Tables
List of Figures
CHAPTERS PAGE NUMBERS
Introduction 1-6
Review of Literature 7-11
Theoretical Framework 12-28
Data Analysis and Interpretation 29-60
Findings, Suggestions and Conclusion 61-65
Bibliography
Appendix
LIST OF
TABLES
TABLE TITLE PAGE
NUMBER NUMBER
4.1 Gender of respondents 31
4.2 Age of respondents 32
4.3 Annual income 33
4.4 Usage of smartphone 34
4.5 Most liked mode of e-payment system 35
4.6 Devices used for making payment 36
4.7 Whether the online payment system is user friendly 37
4.8 Number of transactions made in a month 38
4.9 Purpose of using e-payment apps 39
4.10 Whether the e-payment apps is accepted everywhere 40
4.11 Whether the e-payment system saves time and money 41
4.12 Level of satisfaction towards the use of e-payment system 42
4.13 E-payment system is better than cash 43
4.14 Response towards reliability of e-payment system for larger 44

money value transactions
4.15 Level of awareness towards e-payment system 45
4.16 Difficulties while using e-payment system 46
4.17 Major barriers of e-payment system 47
4.18 Money value of e-payment transactions on monthly basis 48
4.19 Reasons for choosing e-payment system 49

4.20 Whether rewards motivate to use e-payment system 50
4.21 Source of awareness about the use of e-payment system 51
4.22 Time taken for completing transactions through e-payment 52

system
4.23 Whether new features motivate to use e-payment system 53
4.24 Trustiness with security of e-payment system 54
4.25 Collection of service charge makes e-payment system 55

expensive
4.26 Whether the payment gateway motivate for conducting the 56
transactions
4.27 Number of times the e-payment apps shows disfunctioning 57
4.28 Difference between rewards and annual income of 58

youngsters
4.29 Difference between new features and annual income of 59
youngsters
4.30 Difference between payment gateway and annual income of 60
youngsters
LIST OF FIGURES
FIGURE TITLE PAGE
NUMBER NUMBER
4.1 Gender of respondents 31
4.2 Age of respondents 32
4.3 Annual income 33
4.4 Usage of smartphone 34
4.5 Most liked mode of e-payment system 35
4.6 Devices used for making payment 36
4.7 Whether the online payment system is user friendly 37
4.8 Number of transactions made in a month 38
4.9 Purpose of using e-payment apps 39
4.10 Whether the e-payment apps is accepted everywhere 40
4.11 Whether the e-payment system saves time and money 41
4.12 Level of satisfaction towards the use of e-payment system 42
4.13 E-payment system is better than cash 43
4.14 Response towards reliability of e-payment system for 44

larger money value transactions
4.15 Level of awareness towards e-payment system 45
4.16 Difficulties while using e-payment system 46
4.17 Major barriers of e-payment system 47
4.18 Money value of e-payment transactions on monthly basis 48
4.19 Reasons for choosing e-payment system 49

4.20 Whether rewards motivate to use e-payment system 50
4.21 Source of awareness about the use of e-payment system 51
4.22 Time taken for completing transactions through e- 52

payment system
4.23 Whether new features motivate to use e-payment system 53
4.24 Trustiness with security of e-payment system 54
4.25 Collection of service charge makes e-payment system 55

expensive
4.26 Whether the payment gateway motivate for conducting 56
the transactions
4.27 Number of times the e-payment apps shows 57
disfunctioning
A study on the awareness and acceptance of various e-payment apps among youth in Aluva
CHAPTER-1
INTRODUCTION
1 Al-Ameen College Edathala

1.1 INTRODUCTION
In the current age, technology is increasing at an explosive rate. The demand for it is ever
increasing as well, with more and more people gaining exposure to the world of technology.
This is especially in the case of smart phones. As we progress, the Smartphone is becoming
an absolute necessity for anyone living in the modern world. In today’s digital era the usage
of the internet has increased drastically. With the ease of smartphones and virtual
accessibility of products, services and payments online, have boosted the way people are
shopping and making payments online.
For using payment services on smart phones an application for the same is required to be
installed in it. This application is called the digital wallet or electronic wallet or popularly
mobile wallet (e-payment apps). Its functions of keeping and paying the currency are same as
of traditional leather wallet with the only difference of performing the same digitally and a
greater number of parties directly or indirectly involved in performing the same on digital
platform. For using mobile wallet service customer needs to register him with that mobile
wallet and preload a certain amount of money in it which can be used for shopping, recharge,
utility bill payments etc. Obviously, it does not depend only on the smart phones and mobile
wallet installed in it. The entire process of sending and receiving money requires a complex
network of intermediaries including banks, payment gateways and mobile network operators.
Few years back e-payment apps were something majority of people did not hear about but its
use saw a huge leap in last couple of years with the surge of smartphones, high speed internet
connectivity using 3G and 4G and the lucrative offers mobile wallets provide. An e-payment
system is a way of making transaction or paying for goods and services through an electronic
medium, without the use of cheque or cash. It’s also called an electronic payment system or
online payment system. The electronic payment system has grown increasingly over the last
decades due to the growing spread of internet-based banking and shopping. As the world
advances more with technology development, we can see the rise of electronic payment
system and payment processing devices. As this increase, improve, and provide ever more
secure online payment transactions the percentage of cheque and cash transactions will
decrease. The digital revolution has paved the path for e-payment system. The revolution has
emerged with e-banking, e-registration, e-shopping, e-payment, e-learning, e-library etc., this
paper focus on usage of e-payment and its customer satisfaction. E-payment system is a
payment system in which monetary value is digitally transmitted between two entities. An
entity can be a bank, business, government or a consumer.
The mobile wallet providers like Google pay, Paytm, PayPal, Mobikwik, etc. with the
payback schemes also are attracting many consumers to use e-payment modes aiding the
organizations with significant growth. The e-payment apps are further enabling economies to
a cashless society. Electronic wallets and mobile wallets are moreover digital version of the
hard cash in physical wallet with more features and functions. E-payment apps reduce cost of
holding and handling for the retailers. Retailers have introduced lucrative discounts and cash
back offers to

get payment orders for all the cashless payments. Even the online platform retailers have
encouraged more customers to choose a payment mode other than Cash on Delivery, it also
helps a business to retain their customer. Customer will return to the same website where his
or her details are stored for making payments, this way the transaction process reduces
making the online shopping smoother.
However, people enjoy e-payment apps services as it costs less time, hence it contributes
towards the sustainable growth of business.
1.2 STATEMENT OF THE PROBLEM
E-payment app is technically a mobile application which can be freely downloaded by all
from play store. Number of digital wallets is now offered by different service providers
including banks, cellular operators and e-commerce vendors. Since the smart phones are
becoming regular and the rates of interest has been decreasing day by day, electronic wallet is
a good option for the public for making payments, recharge and transfers. E-payment apps
have changed the payment habit of people in almost every field. Due to the effect of
demonetization and the global pandemics, the number and volume of digital transactions has
shot up.
1.3 OBJECTIVES OF THE STUDY
1. To study the customer satisfaction and preference of youth regarding the various e-
payment apps.
2. To study the motivational factors which influence youngsters to use e-payment apps.
3. To analyse the difficulties in the usage of e-payment system.
1.4 HYPOTHESIS OF THE STUDY
1. H01: There is no significant difference between rewards and annual income of

youngsters.
2. H02: There is no significant difference between new features and annual income of
youngsters.
3. H03: There is no significant difference between payment gateway and annual income
of youngsters.
1.5 SIGNIFICANCE OF THE STUDY

The traditional methods of payment have now been replaced by e payment mechanism
because of its wide use. It is used in many areas like shopping, movie ticket booking, fee
payment,

mobile recharging, bill payment etc., All these uses attract customers as their day-to-day
activities gets more improved and a lot easier. A lot of technological advancements have been
taking place in field of payment. So, it is very useful to know about the new trends and
advancements in payment mechanism. It is also necessary to study about different methods of
e-payments. It is also important that the young generation are aware about these trends. So
that we have an idea about e-payment system and its security threats.
This study is based on the increasing importance of e-payment apps for the youngsters of
Aluva region in Ernakulam district, Kerala and is focused on the satisfaction level made by
various e-payment apps. According to the data of Government and RBI, demonetization and
the subsequent cash crunch has led to a surge in digital payments in India. Due to the growth
of smart phone ownership and internet usage, majority of these payments are done through
mobile devices. Here it is relevant to analyse the awareness and acceptance of digital wallets
among all the youngsters in Aluva region.
1.6 SCOPE OF THE STUDY

The scope of the study on the awareness and acceptance of various e-payment apps among
youth involves examining their knowledge, perceptions, and usage behaviors related to
digital payment platforms. The study aims to assess the level of awareness among youth
about different e-payment apps, their preferences, and the factors influencing their acceptance
or rejection of these platforms. The research will investigate the awareness levels of youth
regarding popular e-payment apps such as PayPal, Venmo, Apple Pay, Google Pay, and
others. It will explore their familiarity with these platforms and their understanding of the
features, benefits, and security measures associated with them.
Furthermore, the study will focus on understanding the attitudes and perceptions of youth
towards e-payment apps. It will examine their perceived advantages and disadvantages, trust
in the security of these platforms, ease of use, and overall satisfaction. Overall, the study aims
to provide valuable insights into the knowledge, perceptions, and usage behaviors of youth
regarding e-payment apps.
1.7 RESEARCH METHODOLOGY

Research methodology is a way to systematically solve the research problem. It deals with
the objective of a research study, the method of defining the research problem, the type of
data collected, method used for data collecting and analyzing the data etc. The methodology
includes primary and secondary data.
Population of the study
Population refers to aggregate of sampling units. The population selected for the study is Aluva.

Sample size
The study was conducted by taking a sample size of 100 respondents from Aluva region on
random basis. The respondents were categorized on the basis of various parameters.
Sampling Technique
The sample was drawn using convenience sampling method. A research design is the set of
methods and procedures used in collecting and analyzing the research problem. Research
design used for the study is descriptive research.
Data collection
The data for the study has been collected from both primary sources and secondary sources.
Primary source is the data that is observed and collected directly from respondents. Here
questionnaire is used as primary data. Secondary data were collected from various websites,
books and articles from various search engines like Google and Wikipedia.
Tools and techniques for analysis
A self-administered questionnaire was used to collect information from the respondents.

Charts and diagrams like pie diagram, bar diagram is used for analyzing and interpreting the
data more easily. The data collected from the questionnaire are analyzed using percentage
analysis. And chi-square test is used for testing the hypothesis of this study.
Period of the study
The period of study examines the time taken to collect data from the sample respondents of
the study. The research aimed to measure awareness level of e-payment apps among
youngsters took a period of 3 months for collecting the data.
1.8 LIMITATIONS OF THE STUDY
1. This study is purely based on the view of some respondents only.
2. Time constraint is another factor and hence a detailed study was not possible.
3. The area of study is confined only in Aluva region.

1.9 SCHEMEOF CHAPTERISATION
Chapter-1
This chapter gives a brief introduction of various e-payment apps and its services. This is
followed by statement of the problem, objectives of the study, significance of the study,
scope of the study, research methodology, limitations of the study and chapterisation.
Chapter-2
The second chapter relates to the review of literature. Reviewing the literature is often ongoing
and informs many aspects of empirical research.
Chapter-3
This chapter deals with theoretical framework. This chapter presents detailed information
about various e-payment apps and why the research problem under study exists.
Chapter-4
This chapter provides the results of the data analysis carried out for the study. It includes
analysis on both primary as well as secondary data collected according to be satisfied.
Chapter-5
This chapter gives out the result based on each objective. It is further followed by findings,
suggestions and conclusion of the study.

CHAPTER-2
REVIEW OF LITERATURE

 Rajesh Krishna Balan, Narayan Ramasubbu, Giri Kumar Tayi studied in their
paper “Digital Wallet: Requirements and Challenges” (2006) that the requirements
and challenges of deploying a nationwide digit wallet solution in Singapore. Further
they discussed why Singapore is ready for a digital wallet and identify the key
challenges, supporting peer-to-peer cash transactions between individuals using a
digital wallet, in more detail and end the paper with their proposed solution.
 Doan (2014) the study measures the market condition of mobile wallet users the study
findings reveal that the usage at mobile is only in the initial stage and respondents are
showing positive attitudes towards usage of mobile wallets. Research concluded that
the trust facts or reveal the positive or negative impact on adoption of user depending
on the user satisfaction and user’s situation.
 Kartikeya Bolar (2014) In his research paper “End-user Acceptance of Technology

Interface in Transaction Based Environment” stated that creators and investors of
technology need information about the customers evaluation of their technology
interface based on the features and various quality dimensions to make strategic
decisions in improving technology interfaces and compete on various quality
dimensions.
 Sanghita Roy, Dr. Indrajit Sinha (2014) stated that E-payment system in India, has
shown tremendous growth, but still there has lot to be done to increase its usage. Still
90% of the transactions are cash based. Technology Acceptance Model used for the
purpose of study. They found Innovation, incentive, customer convenience and legal
framework are the four factors which contribute to strengthen the E-payment system.
 Aditi Bansal (2014) made a study on “Paytm”, it studied about its achievements,
technical architecture of Paytm, working and technologies of Paytm which include a
study on supply chain management, web technologies of Paytm, web-based tool Paytm
and also described about electronic payment system.
 Slozko & Pello (2015) E-payment system are important mechanisms used by
individual and organizations as a secured and convenient way of making payments
over the internet and at the same time a gateway to technological advancement in the
field of world economy.
 Zlatko Bezhovski (2016) From this paper ‘The Future of the Mobile Payment as
Electronic Payment system’ the author states that with all the security and convenience
provided by mobile electronic payment method, we can expect further growth of
mobile payments worldwide even surpassing payments made by credit and debit cards.
However, there are several barriers identified to the adoption of this payment method;

so certain measures should be taken to grant this industry a promising future ahead.
This study finds that customers are increasingly using mobile payment methods for
their routine online purchases and for their onsite purchases as well.
 TrillokNathShukla (2016) discussed about mobile wallet, working, types and its
advantages and disadvantages. His analysis included perception of consumers and
retailers about mobile wallets. He concluded that mobile wallets will be used to engage
with the customer by the marketers and digital business. Irrespective of the market
status of these mobile wallets, marketers should take advantage of the emerging
opportunities.
 Dr. Ramesh Sardar (2016) summarized that M-wallets have emerged as the most
significant contributor in pushing cashless and electronic payments. Over time when
mobile payments will represent a significant part of retail sale, there should be inter-
operability between different wallets. As most of respondents are concerned about the
security of mobile payments, the security should be strengthening.
 R. Varsha. Thulasiram (2016) found that E-wallet which are considered as 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.
 Key Pousttchi and Dietmar G. Wiedemann in their paper “what influences

Consumers Intention to Use Mobile payments?” (2008) studied the adoption of
mobile payments and evaluated what key influences affected consumers to use mobile
payments and found that subjective security was not a primary driver of mobile
payments acceptance. They found that perceived confidentiality of payment details and
perceived trustworthiness were strongly correlated. Four key variables were found to
directly impacting consumer intention and usage behaviour: performance expectancy,
effort expectancy, social influence and facilitating conditions.
 Poonam Painuly and Shalu Rathi (2016) in their research paper “Mobile wallet: An
upcoming mode of business transaction” have analyzed that ease of transaction,
secured profile and convenience in handling applications 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 payments instruments including
contactless and remote payment in the customers-business and customers-customer’s
areas.
 Pawan Kalyani Sardar (2016) found that digital wallets which are popular and
associate to the online business company are more popular and those with the banks
are doing fine, mobile companies’-wallet is restricted to the mobile users. People are
using a few services mostly for recharging the DTH and paying bills, shopping etc. the

awareness and practical usability of the e-wallet is low, that should be increased by
adding more value-added service to it.
 Dr S Manikandan and J Mary Jayakody (2017) “An empirical study of Consumers

adoption of mobile wallet with special reference to Chennai city” the present study
aims to explain the application and usage of wallet money endorsed by different
companies and various factors that affect the consumers decision to adopt mobile
wallet and various risk and problems faced by the users of mobile wallet. A structured
questionnaire was prepared and data were collected from 150 respondents from
Chennai city.
 Dr Hem Shweta Rathore in her research “Adoption of digital wallet by consumers”

have analyzed about the factors that influence consumers in adoption of digital wallet
and also analyzed the risk and challenges faced by consumers in usage of digital wallet
and conclude that shoppers are adopting digital wallet largely due to convenience and
ease to use and in the future year’s wallet will gain more wide spread acceptance.
 Vinitha. K and S. Vasantha (2018) The advent of the digital age has changed
people’s daily routines. Gaining connectivity and making payments at anytime,
anyplace is made possible by the power of the internet and digital payments, which
increases user pleasure and makes customers more loyal.
 Mishra, Sonal and Kriti R. Swain (2018) Due to the growing use of smartphones,
inexpensive highspeed internet, the desire for quicker payment settlement, and ease of
Use of mobile payment system have become more and more popular in recent years.
ratio. Despite our government’s significant efforts to promote digital access, the rise is
still not adequate.
 Maindola, Pallavi, Neetu Singhal and Akash D. Dubey. (2018) The country’s
landscape for digital payment is expanding at an astounding rate. The payment
landscape has undergone a full transformation after demonetization. A technological
revolution, demonetization and the government’s push for a cashless society have
made it possible for several non-banking players have emerged in the payment
industry.
 Kavitha M and K Sampath Kumar. (2018) The demonetization caused the use of
digital payment to skyrocket, an expontial increase in the use of digital payment is
possible thanks to government initiatives like digital India and rising mobile
internet usage. This more openness in transactions results from the shift to digital
payment, which strengthens the nation’s economy. The payment system underwent
a lot of adjustment recently.

 Singh, Gagandeep (2019) Many individuals now use plastic money in the form of
debit cards, credit cards, and other cards offered by the many different commercial
banks as the technology’s digitalization and digitization period grows. There were a
variety of banking-related products for payments: Core banking services, instant
payments and net banking. Although it was discovered that individuals desired a
quicker, simpler means to make payments and banking.
 Miruna S. Lyrics. (2019). With the introduction of the smartphones, technology has
played an increasingly important role in this, changing the way we transact in daily life
and making life easier by allowing all payments and transactions to be completed
online. This opened the door for the creation of a platform with a digital wallet.
 Kaur, Puneet (2020) investigates the sharp rise in use of mobile wallet apps.
Although beneficial for transactions and safe payments on behalf of the client, mobile
wallets have not yet been widely adopted in markets.
 Cherukur M R (2020) The current survey focuses on how satisfied customers are
using mobile wallets. The aspects that affect a customer’s pleasure when using a
mobile wallet are examined in this study. Nowadays, everyone conducts daily
transactions using a smartphone. The current research is carried out among users of
mobile wallets to determine the levels of satisfaction with them.
 Anshari, Muhammed (2021) The use of e-wallets could improve financial institutions
productivity and open the door to new services for client’s convenience. The younger
generation has adapted well to these payment apps. It truly delights the clients in
simple payment and transaction.
 Ghosh, Gourab (2021) The development of information and communication

technologies paved the ground for contemporary payment systems. People’s lives were
made easier by the proliferation of smartphones and internet access, which also
ushered in the age of digitalization.

CHAPTER-3
THEORETICAL FRAMEWORK

INTRODUCTION
An electronic payment system can be shortly defined as paying for goods and services
through an electronic medium. E payment system facilitates payment through online without
the use of cash or checks. The E-payment system has grown increasingly Over last decades
Due the growing spread of internet-based banking and shopping.
HISTORY OF E-PAYMENT IN INDIA

The origin of e-payment is of course, related to the beginning of the internet, which
revolutionized the world like nothing before. After all, if there were no world wide web, there
wouldn’t be online stores and e-services. The history of the internet starts in 1969 with
ARPANET, the military network which was intended to be a communication network in the
Vietnam War era. But the main turning point happened in 1989 when Tim Berners-Lee
presented the solution of making information easier to publish and access on the internet by
using the so-called “sites” or “pages”. Along with internet development, pioneer online
payment services started to operate in the first half of the 90s. In 1994 Stanford Federal
Credit Union was established – the first financial institution which offered online internet
banking services to all of its members. However, first online payment systems weren’t user-
friendly at all and required specialized knowledge of encryption or data transfer protocol.
What is more, the systems weren’t adapted to the constant changing of users’ number and
their transactions.
In the beginning, the main players on the e-payment market were Millicent (founded in
1995), E-Cash or Cyber Coin (both in 1996). The majority of the first online services were
using micro payment systems and their common attribute was the attempt to implement the
electronic cash alternatives (such as-money, digital cash or tokens). Most of the modern
payment systems are easy to use with the payment process minimized to just a few simple
steps. They are website or app based, which means there is no need to install a distinct
software or buy special equipment, which was the case a few years ago. Nowadays systems
are available from any device connected to the internet. Every year there are new solutions
in the e-payments world

that stimulate e-commerce growth. New players make electronic payments both easy to
implement and convenient for users who play online.
PROCESS OF E-PAYMENT
The steps involved in online payment processing have significantly reduced the waiting
period and hassle when purchasing commercials products and services. With new
technologies and payment process people can easily purchase products and one-time services,
set up recurring payment, and streamline payments that allow sellers to accept new orders
24/7.
In the past many E commerce payment processing services were far from intuitive and often
costly. However today there is dozens of reputable companies pushing easy-to-use payment
processing systems that can handle credit card transactions, bank transfers and real time
orders at the fraction of cost.
PROGRESS OF E-PAYMENT SYSTEM IN INDIA
In India's journey towards becoming a cashless economy, two words and their impact played
a significant role, 'demonetization' and 'COVID-19'. One laid out the foundation of digital
payments and another became the main source to build up the digital payment’s ecosystem.
Back in 2016, demonetization was a push from the government to convert India from a cash-
based economy to a cashless economy. But India had witnessed digitization with steady
progress way back in the 90s. With technologies like MICR, ATM, credit, debit cards
followed by digital wallets, prepaid cards, recharge vouchers, etc., the payment industry was
supported by new technologies and innovations. With the rise of Fitness, the growth of the
payment industry has seen many innovative solutions and methods to transact digitally. With
astounding initiatives and innovations like, UPI, FAS Tags, NFC payments, QR codes,
interoperable digital wallets, etc., Indian digital payment space certainly holds a promising
future. In the pandemic and the eventual lockdown, the digital payment sector has witnessed
ups and downs. However, with the government’s initiative, local and new businesses like
online storefronts utility bills, etc. are embracing digital payments and with that’, many
digital platforms have seen recoveries. One such platform that has gained enormous
popularity is contactless payments. Today, more than 60% of Indians use mobile and online
banking for financial transactions, and many of them want to continue with digital payments
in the post-covid world. But still, four out of five payments are done by cash, and one of the
main reasons is the lack of internet access. Though there are many external factors directly or
indirectly affecting the growth of digital payments like government’s initiative, the pandemic,
digital awareness campaigns by the payment solution providers, Fitness, banks, and the
government, etc., the mobile penetration and a robust digital payment infrastructure will
allow for a continuous expansion in digitalization and digitization. Many digital payment
platforms have seen their all-time high during this pandemic, so as many digital payment
solution providers.

MODES OF E-PAYMENT SYSTEM

Money can be transferred from one person to another electronically through various
electronic payment systems in India. The initiatives and steps taken by the Reserve Bank of
India has created a strong technology-based system for electronic payments, allowing
seamless electronic fund transfer between two parties with very minimal transaction cost. In
this article, we look at the different types of electronic payment systems currently operational
in India.
❖ Electronic Clearing Service (ECS)
ECS payment was introduced in India by the RBI during the 1990s. Since, its introduction,
the platform has grown more robust and scaled to handle large volumes. ECS payments are
used to handle bulk and repetitive payment like salary, interest, dividend payments of
companies, corporates and institutions. Using ECS payment system, a customer accounts can
be credited on a specified date for a specific amount.
❖ National Electronic Fund Transfer (NEFT)The NEFT payment system was

introduced in 2005 to facilitate one to one fund transfers. NEFT payment system can be used
by both individuals and corporates. NEFT system processes payments in batches at hourly
intervals, thus providing near real-time settlement of funds from one party to another. There
is no minimum of maximum limit on the amount of funds that can be transferred through
NEFT.
❖ National Electronic Clearing Service (NECS)
During September 2008, the Bank launched a new service known as National Electronic
Clearing Service (NECS), at National Clearing Cell (NCC), Mumbai. NECS (Credit)
facilitates multiple credits to beneficiary accounts with destination branches across the
country against a single debit of the account of the sponsor 58bank. The system has a Pan-
India characteristic and leverages on Core Banking Solutions (CBS) of member banks,
facilitating all CBS bank branches to participate in the system, irrespective of their location
across the country.
❖ Real Time Gross Settlement (RTGS)
In the RTGS system, funds are transferred from one bank account holder to another on a “real
time” and on “gross” basis. Settlement in the RTGS system happens “Real Time” on a one-
on- one basis and there is no bunching or batching like the NEFT system, wherein payments
are processed in batches. Once a payment is processed through the RTGS system, it cannot be
undone and is final and irrevocable. RTGS system has been operational since 2004 and is
used for settling inter-bank payments.
❖ Regional ECS(RECS)
Similar to NECS, RECS operates as a miniature of NECS confined to the bank branches
within the jurisdiction of a regional office of RBI. RECS system is available in Ahmedabad,
Bengaluru, Chennai and Kolkata regions. Under the system, the sponsor bank will upload the

validated data through the Secured Web Server of RBI containing credit/debit instructions to
the customers. The RECS center will process the data, arrive at the settlement, to provide
credit/debit to the accounts of beneficiaries by using the Core Banking System put in place by
the bank.
❖ Electronic Clearing service (ECS)Debit
ECS (Debit) system helps with effecting periodic and repetitive collections of bills from
consumers. ECS (Debit) facilitates consumers to subscribe to services of companies and
make routine and repetitive payments by ‘mandating’ bank branches to debit their accounts
and pass on the money to the companies. There is no limit on the minimum or maximum
amount of payment through the ECS debt system.
❖ Electronic Fund Transfer (EFT)
The Electronic Funds Transfer system was introduced in the late 1990s to enable account
holders of a bank to electronically transfer funds to another account holder. The EFT system
has gradually been phased out for use by the general public and subsumed by the National
Electronic Funds Transfer (NEFT) system.
The old idiom “Cash is king” is quickly becoming obsolete in today’s digital society. With
more and more people moving to digital payment systems, the payment industry has
undergone massive changes. Point of Sales (PoS) machines have been a standard fixture at
small business premises for the last two decades. Today, with an increase in mobile internet
connectivity and the drive to cashless payment systems, mobile wallets are fast catching up.
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. The new payment mechanism which
involves payment for a transaction using the mobile wallet or mobile money transfer is
gaining momentum.
What are e-payments Apps?

1. Open Wallet: Open wallet enables the users to withdraw cash at ATM or bank,
transfer funds and to buy goods and services. M-pesa by Vodafone is a good
example for open wallet. This service can be availed only if it is launched with
the bank.
2. Semi-Open Wallet: Semi-open wallet allows to buy goods and services with the
money loaded to the wallet but withdrawing cash or redeeming it is not possible.
E.g., Airtel money is a semi –open wallet were merchants have contract with
Airtel.
3. Closed Wallet: Closed wallet deals with only one merchant. It is used for buying
goods and services with only one merchant. Withdrawing cash is impossible.
Cash left in the wallet can be used for future transactions with the same merchant.
E.g., Bookmyshow, MakeMyTrip.

4. Semi-Closed Wallet: A semi-closed wallet allows us to buy goods and services

with listed merchants at listed locations. Cash withdrawal or redemption is not
possible in semi-closed wallet E.g., Paytm
Cost of E-payment apps

E-payment apps are available to the public at free of cost and the application can be
downloaded from the play store of the mobile device. Although the installation of the wallet,
adding money to the wallets, use of wallet money for making payments etc. are free for the
customer, vendors charge merchants for wallets. Wallet providers may also charge money
from the customer when they send back the money from wallets to bank accounts.
Use of Digital Wallets

Digital wallets can be used to make variety of payments such as Mobile/DTH recharging, pay
utility bills, pay insurance premium, pay fees and charges, book tickets, book hotel rooms,
send money to the wallets of others, payment for online and offline purchases etc.
Features of E-Wallets
 Instant Payments
The money transfers 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 anytime 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 to
physically carry the credit card. The software helps the app to encrypt the card data without
storing the card number using high-grade security.
 Bill Payments
Bill Payments is one of the critical mobile wallets 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. With the digital cash moment gaining pace,
mobile wallets are indeed becoming a part of essential services for a common man.
 Easy and Fast Self – Registration
The main intention of the introduction of e-wallet is to save people’s time, efforts and ease to
do the transaction. The simple self-registration process comes in handy for the users which
pushes them to go for the app without thinking twice before using it. Usually, the self –
registration process has the following steps Downloading the app and running it on the
mobile phone Signing up for it by providing the necessary data Confirming the registration
Setting up of password and login Linking up with debit or credit card or bank account, as per
requirements Adding money in the wallet Finally using the wallet Though the registration
flow is a one-time process, it makes a crucial first impression that lasts forever.
 Payments To and From Respective Bank Accounts
A payment app will allow for instant money transfer to any bank including an individual’s
account in the same bank as well as transfer to another person’s account held in different
banks. The payment app owner will have a variety of options for sending and receiving
business or personal money within just a few clicks from wherever you are and at any time
based on the requirement. One has to first download the online payment apps in their
smartphones. Most of the payment apps download is available in both Android and IOS
based phones.
 Security
The moment mobile financial services come into the picture; individuals prefer the highest
security to adopt it. It is essential for money transactions to be safe and secure from one end
to another. Payment Mobile Apps can be secured with a lot of robust technologies such as
passwords, one-time passwords through SMS, point to point encryption, security questions,
biometrics, out of band authentication and so on. Despite the proven fact that digital wallets
are more safeguarded when compared with credit cards, the growing concerns of safety in
consumers' minds remains the main obstacle to adopt payment apps.
 Merchant Payments using Contactless Technologies
The up-gradation of technology has many merchants across the globe who are realizing the
need to use various mechanics that accepts digital wallets. Most of the retail clients have
made
arrangements to make in-store payments using the mobile wallets via contactless methods be
it using QR-code or Near Field Communication and so on.
NFC or Near Field Communication is a contactless remote technology that works within a
close distance say up to 10 cm and it provides people with secure payments between the point
of service devices and their respective smartphones.
Quick Response Code or QR code is one of the popular forms of payment methods and it is
very similar to a bar code. The user has to first scan the QR code either using a smartphone or
a camera which interprets the bar code and related application or a web site open through
which payment can be made. Most of the payment apps provide NFC and QR payment
facilities as the demand for the contactless transaction and the convenience which it offers to
the users is growing seamlessly.
 Coupons, Rewards, Discounts
The use of payment apps and e-wallets provides its users with coupons, discounts, rewards,
loyalty points, and so on. Digital wallet solutions will have tie-ups with many firms that
provide offers, discounts, and coupons on using the payment apps. The e-wallets form an
ideal environment to provide deal-seeking consumers with a huge range of benefits and helps
mobile wallet app to stand out in the market.
 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 anytime from anywhere across the
globe. The evolution of e-wallet simplifies the user’s finance 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 to physically carry the credit card. The software
helps the app to encrypt the card data without storing the card numbers using high-grade
security.
Benefits of Payment Apps /e-wallets

 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. One can easily leave the cash and cards at home and use their
phones to make payments instead.
 Secure way to make payments
Payments made using mobile phone apps allow the user to use the cell phone to make in-store
purchases. These apps use a technology which is called as Near –Field Communication
(NFC)

all you have to do is to tap or wave your phone to make payments at the point of service
(POS) terminal. Most of the time, these apps use either encryption or protected code to
minimize the threat to the personal data of users. Your original card number will not be stored
on the device or with the retailer and instead, the system will mask the card numbers by
assigning them with random number or token for each purchase. If in case, a hacker tries to
hack to gain access to store data or your device, they will only get useless information. E-
Wallets offer a great level of security for the financial data of the users. The user can add a
fingerprint or PIN or Password as an additional layer of security for the phone to enhance the
surveillance coverage.
 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 under three days.
 A faster way to make payments
Payments made using a mobile wallet is often easier and faster than swiping or inserting the
cards. All the users have to do is tap, pay and go. With the increase in the number of people
who use mobile phones, the e-payment system has gained momentum worldwide. All one has
to do is to simply wave or tap the phone in front of an NFC compatible terminal, with this
single action, the user has approved the transaction. This will result in a contactless
transaction, despite securing the card number which is never revealed, in addition to this, the
process is faster when compared to using debit or credit card which needs to be inserted in the
device or for swiping purpose.

 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.
Drawbacks of using Payment Apps & e-wallets
 Security
Security remains one of the top concerns amongst the owners and customers. It has been
found the half of the mobile payments is not safe and secure. Mobile wallets operated by
some private companies other than bank are not properly protected by password or PIN and
hence considered as insecure.
 Adoption of users remains slow
Most of the customers prefer to stay in their comfort zone, that is, they either prefer to make
payments using cash or debit or credit card. Though mobile payments are tied to a credit card
or debit card or bank account, customers prefer to swipe their card or insert their cards in the
terminals instead of waving their phone over the terminal.
 Cost
Transactions such as loading money to wallets, transfer money to the wallet of others other
payments are allowed at free of cost but the wallet companies charge money when the
customer transfer the balance money to his bank accounts.
 Expensive Technology
Though it is a proven fact, that using mobile payments is less expensive than the traditional
systems, it still requires new hardware including that of a terminal or smartphone which
supports Near Field Communication. It is impossible to make payments, if you still possess
an old credit or debit card terminal or if you do not have a smartphone. One should also have
a strong internet connection and updated infrastructure to process mobile payments. Number
of mobile wallets is offered by many service providers and hence the people are confused to
select the required number of wallets within the capacity of phone storage.
 Difficult to Read Terms and Conditions

It is a must and mandatory for the users of mobile payment apps to understand the terms and
conditions. Like any other business agreement, the business owners will have to first read and
understand the terms and conditions which come in with the payment apps. If in case, the
user fails to read the fine print mainly when it comes to processing fees, then you will be in
for an unwelcome surprise when you open your invoice at the end of the month. So be careful
and read all the terms and conditions of online payment apps before making use of it in your
daily life.
Top 9 E-payment Apps

Mobile wallet or e wallet app or e wallet 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.
1. GOOGLE PAY
Google Pay (stylized as G Pay; formerly Pay with Google and Android Pay) is a digital
wallet platform and online payment system developed by Google to power in-app, online,
and in- person contactless purchases on mobile devices, enabling users to make payments
with Android phones, tablets, or watches. Users in the United States and India can also use an
iOS device, albeit with limited functionality. In addition to this, the service also supports
passes such as coupons, boarding passes, student ID cards, event tickets, movie tickets, public
transportation tickets, store cards, and loyalty cards. As of January 8, 2018, the old Android
Pay and Google Wallet have unified into a single pay system called Google Pay. Android Pay
was rebranded and renamed as Google Pay. It also took over the branding of Google
Chrome’s autofill feature. Google Pay adopts the features of both Android Pay and Google
Wallet through its in-store, peer-to-peer, and online payments services.
Salient Features:
 Customers can pay by using a QR code, UPI pin, mobile number, bank account
number, IFSC code, or audio QR code.
 Unlike BHIM, it does not offer Aadhaar-based transactions.

 Customers can use the cash payment option to securely transfer money to nearby
Google Pay users, without having to share their private details.
 It has enhanced security that prevents hacking and other attacks on your bank details.
 Secure the app using fingerprint or Google Pin.
 The UPI pin secures each transaction.
 Besides security and convenience, Google Pay also offers a wide array of cashbacks
and other rewards, including scratch cards, discounts, etc.

2. PAYTM
Paytm (a partial abbreviation for “pay through mobile”) is an Indian multinational technology
company that specializes in e-commerce, payment system and financial technology company,
based in Noida, Uttar Pradesh, India. Paytm is currently available in 11 Indian languages and
offers online use-cases like mobile recharges, utility bill payments, travel, movies, and events
bookings as well as in-store payments at grocery stores, fruits and vegetable shops,
restaurants, parking, tolls, pharmacies and educational institutions with the Paytm QR code.
Salient Features:
 It uses 128-bit VeriSign certified encryption for secure payments.
 You can also opt to open a savings bank account with PayTM Payments Bank.
 This savings account has various features like free virtual Rupay debit card,
free digital transactions and zero minimum balance.
 Customers can send money to you using the payment link (shared by you) or by
scanning the QR code.
 PayTM offers Buy Now Pay Later feature for ICICI bank customers

3. PHONEPE
PhonePe is an Indian digital payments and financial services company headquartered in

Bangalore, India. PhonePe was founded in December 2015, by Sameer Nigam, Rahul Chari
and Burzin Engineer. The PhonePe app is available in over 11 Indian languages. Using
PhonePe, users can send and receive money, recharge mobile, DTH, data cards, make utility
payments, pay at shops, invest in tax saving funds, liquid Funds, buy insurance and mutual
funds and gold. In addition, PhonePe also allows users to book Ola rides, pay for Redbus
tickets, and book flights and hotels on Goibibo through the Switch platform. PhonePe is
licensed by the Reserve Bank of India for issuance and operation of a Semi Closed Prepaid
Payment system.
Salient Features:
 It’s one of the most popular mobile payment apps in India.
 It offers interoperability among various mobile wallets.
 It offers several rewards and cash back offers for transactions carried on the app.
 It has an intuitive and easy to use UI.
 You can connect multiple bank accounts with the Phone Pe app.
4. BHIM
BHIM (Bharat Interface for money) is a mobile payment app that is backed by the
government of India. It is based on the UPI (Unified Payment Interface). Once we download
and install this app on our Android/iphone, you can register for a UPI ID for your bank
account, if you don’t already have one. You can use this UPI pin for paying and receiving
money.

Salient features:
 Customers can pay merchants by using a QR code, UPI pin, mobile number, Aadhar
number, or bank account number.
 The app does not require any registrations with your bank.
 BHIM supports thirteen languages.
5. Free charge
Free charge, a wholly owned subsidiary of Axis bank limited, is one of the e-payment
applications which is based out Gurugram, Haryana. …Using free charge, users can pay
utility bills, mobile recharges, broadband recharges, metro card recharge, pay landline bills,
DTH bills.
Salient Features:
 When you register on the Freecharge app, you can get a UPI ID powered by Axis bank.
 Share the UPI ID or QR code with customers to receive payments.
 It offers multiple discounts, offers and cash backs for payments received and sent.

6. FedMobile
The mobile banking app provided by Federal bank is called Fed mobile. Fed mobile offers
more than 100 different banking services. Login to the FedMobile app, tap on ‘BHIM UPI’
on the home screen. Select ‘send money’ and go to ‘send to mobile number’. Select the
mobile number from the list or add a new account.
7. Payzapp
Payzapp is a complete payment solution that empowers an individual to pay with the help of
just one click. The app allows individuals to buy products from the partner apps, book movie
tickets, send money to anyone, and pay utility bills among many other things.
8. WhatsApp Pay
WhatsApp Pay is an in-chat payment service that allows users to make payments to their
contact list over WhatsApp. It is a payment solution based on UPI that allows you to send and
receive money. The National Payments Corporation of India (NPCI) created it. WhatsApp
pay

was introduced as a pilot in India in February 2018. Payments using WhatsApp were made
available to a million users.
9. YONO
YONO (You Only Need One) is a State Bank of India (SBI) integrated digital banking
platform that allows users to access a number of financial and other services such as
areophane, train, bus and taxi bookings, online shopping and medical bill payments. The
State Bank of India (SBI) released its completely redesigned digital banking software
‘YONO for Every Indian’ on Sunday. Bank users will be able to use YONO, which stands for
“You Only Need One” to access Unified Payments Interface (UPI) functions such as scan and
pay, pay by contacts and request money among others.

Mobile Wallet/Payment App Works:

In the case of First Payment using Online Payment Apps
o Registered users will input their phone number and the provider will send them an
SMS along with a PIN.
o The user will enter the received PIN, authenticating the number.
o Now the user has to input their credit card information or another payment method if
required (not required if the account has already been added) and will proceed to
validate the payments.
For Subsequent Payments through E Wallet Apps:

o The user will have to re-enter the PIN to authenticate and validate the payment process

CHAPTER-4
DATA ANALYSIS AND
INTERPRETATION

INTRODUCTION
Data Analysis is the process of systematically applying statistical and/or logical techniques to
describe and illustrate, condense and recap, and evaluate data. Data analysis is the most
crucial part of any research. Data analysis summarizes collected data. It involves the
interpretation of data gathered through the use of analytical and logical reasoning to
determine patterns, relationships or trends.
Data interpretation is the process of reviewing data and arriving at relevant conclusions using
various analytical research methods. Data analysis assists researchers in categorizing,
manipulating, and summarizing data to answer critical questions.
The present chapter deals with the analysis and interpretation of data collected from 100
respondents in Aluva region in Ernakulam district. The primary data collected through
Google forms. The data collected from respondents comprises of 29 questions. First part of
the questionnaire deals with demographic factors such as gender, age and annual income
respondents. Second part of the questionnaire deals with the satisfaction and preference of
youth regarding the various e-payment apps. Third part of the questionnaire deals with
motivational factors which influence youngsters to use e-payment apps. And the last part
deals with the difficulties in the usage of e-payment apps. All the questions in the
questionnaire are satisfying the objectives of the study.
Through data analysis and interpretation, it is clear that majority of the respondents are
satisfied with the use of e-payment apps. And the difficulties such as technological errors,
inconvenience, safety concerns, etc faced by the respondents are analyzed through this study.
Charts and diagrams like pie diagram, bar diagram is used for analyzing and interpreting the
data more easily. The data collected from the questionnaire are analyzed using percentage
analysis. And chi-square test is used for testing the hypothesis of this study.

TABLE 4.1 GENDER OF RESPONDENTS

Responses Number of respondents Percentage(%)
Male 31 31%
Female 69 69%
Others 0 0%
Total 100 100%
SOURCE: PRIMARY DATA
FIGURES IN THE COLUMN 3 ARE COMPUTED
FIGURE 4.2 GENDER OF RESPONDENTS
0%
31%
MALE
FEMALE
OTHERS
69%
INTERPRETATION
From this figure, 31 percentage of the respondents are male and 69 percentage of the
respondents are female.

TABLE 4.2 AGE OF RESPONDENTS

15-20 11 11%
20-25 72 72%
25-30 10 10%
Above 30 7 7%
Total 100 100%
FIGURE 4.2 AGE OF RESPONDENTS
80%
70%
60%
50%
40%
30%
20%
10%
0%
15-20 20-25 25-30 Above 30
INTERPRETATION
From this figure it is found that 11 percentage of the respondents were between 15-20, 72
percentage of the respondents were between 20-25, 10 percentages were between 25-30 and 7
percentages were above 30 age group.

TABLE 4.3 ANNUAL INCOME

Below 100000 3 3%
100000-200000 52 52%
200000-300000 33 33%
300000-400000 10 10%
Above 400000 2 2%
Total 100 100%
FIGURE 4.3 ANNUAL INCOME
60%
50%
40%
30%
20%
10%
0%
INTERPRETATION
From this figure it is found that 3 percentage of the respondents annual income is below
100000, 52 percentage were between 100000-2-00000, 33 percentage were between 200000-
300000, 10 percentage ware between 300000-4-00000 and 2 percentage of the respondents
annual income is above 400000.

TABLE 4.4 USAGE OF SMART PHONE

Yes 100 100%
No 0 0%
Total 100 100%
FIGURE 4.4 USAGE OF SMART PHONE
100%
90%
80%
70%
60%
50% 100
40%
30%
20%
10%
0% 0
YES NO
INTERPRETATION
The above data reveals that out of 100 respondents, 100 percentage of the respondents are using
Smart phone.

TABLE 4.5 MOST LIKED MODE OF E-PAYMENT SYSTEM

Google pay 76 76%
Paytm 8 8%
Phone pe 8 8%
Others 8 8%
Total 100 100%
FIGURE 4.5 MOST LIKED MODE OF E-PAYMENT SYSTEM
80%
70%
60%
50%
40%
30%
20%
10%
0%
GOOGLE PAY PAYTM PHONEPE OTHERS
INTERPRETATION
From the above data, we can understand that the most liked mode of e-payment system is
Google pay. Because 76 percentage of the respondents are using this mode of e-payment
system. 8 percentage of the respondents are using Paytm and 8 percentage of the respondents
are using PhonePe and others using other modes of payment.

TABLE 4.6 DEVICES USED FOR MAKING PAYMENT

Smart phone 96 96%
Computer 1 1%
Tablets 0 0%
All of the above 3 3%
Total 100 100%
FIGURE 4.6 DEVICES USED FOR MAKING PAYMENT
Chart Title
SMART PHONE COMPUTER TABLET ALL OF THE ABOVE
INTERPRETATION
From this figure, it is found that majority of the respondents are using Smartphones for making
the payment.

TABLE 4.7 WHETHER THE ONLINE PAYMENT SYSTEM IS USER
FRIENDLY
Responses Number of Percentage(%)
respondents
Yes 95 95%
No 5 5%
Total 100 100%
FIGURE 4.7 WHETHER THE ONLINE PAYMENT SYSTEM IS USER
FRIENDLY
95%
100%
80%
60%
40%
20% 5%
0%
YES NO
INTERPRETATION
From the above data, we can find that out of 100 respondents 95 percentage of the
respondents states that e-payment system is user friendly. Only 5 percentage of the
respondents are against this statement.

TABLE 4.8 NUMBER OF TRANSACTIONS MADE IN A MONTH

Only once 7 7%
Twice 18 18%
Thrice 13 13%
More than thrice 62 62%
Total 100 100%
FIGURES THE COLUMN 3 ARE COMPUTED
FIGURE 4.8 NUMBER OF TRANSACTIONS MADE IN A MONTH
MORE THAN THRICE
THRICE
TWICE
ONLY ONCE
0% 10% 20% 30% 40% 50% 60% 70%
INTERPRETATION
The above data reveals that out of 100 respondents 7 respondents make the payment only
once in a month, 18 respondents make the payment twice in a month, 13 respondents make
the payment thrice in a month and 62 respondents make the payment more than thrice in a
month.

TABLE 4.9 PURPOSE OF USIND E-PAYMENT APPS

Pay bills 20 20%
Recharge mobile balances 24 24%
Transfer money 48 48%
Others 8 8%
Total 100 100%
FIGURE 4.9 PURPOSE OF USING E-PAYMENT APPS
8% 20%
48% 24%
PAY BILLS RECHARGE MOBILE BALANCES TRANSFER MONEY OTHERS
INTERPRETATION
The above data reveals that out of 100 respondents, 20 percentage of the respondents are
using e-payment apps for the purpose of paying bills, 24 percentage using e-payment apps for
the purpose of recharging mobile balances, 48 percentage using e-payment apps for the
purpose of transferring money and 8 percentage using e-payment apps for other purposes.

TABLE 4.10 WHETHER THE E-PAYMENT APPS IS ACCEPTED
EVERYWHERE
Yes 77 77%
No 23 23%
Total 100 100%
FIGURE 4.10 WHETHER THE E-PAYMENT APPS IS ACCEPTED
EVERYWHERE
120%
100%
23%
80%
60%
40% 77%
20%
0%
1
YES NO
INTERPRETATION
From this figure, out of 100 respondent’s majority of the respondent’s response is e-payment
apps is accepted everywhere.

TABLE 4.11 WHETHER E-PAYMENT SYSTEM SAVES TIME AND
MONEY
Yes 94 94%
No 6 6%
Total 100 100%
FIGURES THE COLUMN 3 ARE COMPUTED
FIGURE 4.11 WHETHERE-PAYMENT SYSTEM SAVES TIME AND
MONEY
100%
90%
80%
70%
60%
50%
40%
30%
20%
10%
0%
1
YES NO
INTERPRETATION
From the above data, out of 100 respondents 94 percentage of the respondent’s response is that we
can save time and money by using e-payment apps.

TABLE 4.12 LEVEL OF SATISFACTION TOWARDS THE USE OF
E-PAYMENT SYSTEM
Highly Satisfied 37 37%
Satisfied 49 49%
Neutral 13 13%
Dissatisfied 1 1%
Highly Dissatisfied 0 0%
Total 100 100%
FIGURE 4.12 LEVEL OF SATISFACTION TOWARDS THE USE OF
E-PAYMENT SYSTEM
60%
50%
40%
30%
20%
10%
0%
HIGHLY SATISFIED SATISFIED NEUTRAL DISSATISFIED HIGHLY
DISSATISFIED
INTERPRETATION
The above data shows the level of satisfaction towards the use of e-payment system. Out of
100 respondents, 37 respondents are highly satisfied towards the use of e-payment system
and 49 respondents are satisfied towards the use of e-payment system and 13 respondents are
neutrally satisfied and only one respondent is dissatisfied with the use of e-payment system.

TABLE 4.13 E-PAYMENT SYSTEM IS BETTER THAN CASH

Strongly agree 26 26%
Agree 49 49%
Neutral 21 21%
Disagree 4 4%
Strongly disagree 0 0%
Total 100 100%
FIGURE 4.13 E-PAYMENT SYSTEM IS BETTER THAN CASH
INTERPRETATION
It is evident from the above one, out of 100 respondents 26 percentage is strongly agreed with
this statement, 49 percentage is agreed, 21 percentage is neutrally agreed and 4 percentage of
respondents disagree that e-payments are better than cash.

TABLE 4.14 RESPONSE TOWARDS RELIABILITY OF E-PAYMENT
SYSTEM FOR LARGER MONEY VALUE TRANSACTIONS

Yes 29 29%
No 29 29%
Maybe 42 42%
Total 100 100%
FIGURE 4.14 RESPONSE TOWARDS RELIABILITY OF E-PAYMENT
SYSTEM FOR LARGER MONEY VALUE TRANSACTIONS
29%
YES
42%
NO
MAYBE
29%
INTERPRETATION
From this figure, it is clear that out of 100 respondents 29 percentage rely on e-payment system for
larger money value transactions, 29 percentage not rely on e-payment system for larger money value
transactions and 42 percentage of respondents may or may not for the same.

TABLE 4.15 LEVEL OF AWARENESS TOWARDS E-PAYMENT
SYSTEM
Not Aware 4 4%
Slightly Aware 20 20%
Moderately Aware 39 39%
Very Aware 31 31%
Extremely Aware 6 6%
Total 100 100%
FIGURE 4.15 LEVEL OF AWARENESS TOWARDS E-PAYMENT
SYSTEM
6% 4%
20%
31%
39%
NOT AWARE SLIGHTLY AWARE MODERATELY AWARE VERY AWARE EXTREMELY AWARE
INTERPRETATION
From this data, out of 100 respondents 4 respondents are not aware about e-payment system,
20 respondents are slightly aware, 39 respondents are moderately aware, 31 respondents are
very aware and 6 respondents are extremely aware towards e-payment system.

TABLE 4.16 DIFFICULTIES WHILE USING E-PAYMENT SYSTEM

Yes 11 11%
No 20 20%
Sometimes 69 69%
Total 100 100%
FIGURE 4.16 DIFFICULTIES WHILE USING E-PAYMENT SYSTEM
80%
69%
70%
60%
50%
40%
30%
20%
20%
11%
10%
0%
YES NO SOMETIMES
INTERPRETATION
From this figure, out 100 respondent’s majority of them feeling sometimes there are some
difficulties while using e-payment system.

TABLE 4.17 MAJOR BARRIERS OF E-PAYMENT SYSTEM

No barriers 10 10%
Technological errors 60 60%
Inconvenience 1 1%
Safety concerns 24 24%
Others 5 5%
Total 100 100%
FIGURE 4.17 MAJOR BARRIERS OF E-PAYMENT SYSTEM
OTHERS
SAFETY CONCERNS
INCONVENIENCE
TECHNOLOGICAL ERRORS
NO BARRIERS
0% 10% 20% 30% 40% 50% 60%
INTERPRETATION
It can be observed from the table that 10 percentage of respondents never think that e-
payment system has any barriers. 60 percentage said technological errors and 24 percentage
said safety concerns as the barrier of e-payment system. 1 percentage of respondent’s
response that there is some inconvenience with e-payment and 5 percentage of respondents
said that there are some other barriers that is the network issues faced by them.

TABLE 4.18 MONEY VALUE OF E-PAYMENT TRANSACTIONS ON
MONTHLY BASIS
Below 1000 29 29%
1000-5000 46 46%
5000-10000 15 15%
Above 10000 10 10%
Total 100 100%
FIGURES IN THE COLUMN 3 ARE COMPUTED\
FIGURE 4.18 MONEY VALUE OF E-PAYMENT TRANSACTIONS ON
MONTHLY BASIS
BELOW 1000 1000-5000 5000-10000 ABOVE 10000
10%
29%
15%
46%
INTERPRETATION
The above figure explains that 29 percentage of respondents use e-payment system for
making the payment below 1000 on monthly basis while 46 percentage of respondents use it
for paying a sum between 1000 and 5000, 15 percentage of respondents use it for paying a
sum between 5000 and 10000 and 10 percentage of respondents use it for paying the sum
above 10000 on monthly basis.

TABLE 4.19 REASON FOR CHOOSINS E-PAYMENT SYSTEM

Fast Transaction 55 55%
Safety 14 14%
Convenient 27 27%
Others 4 4%
Total 100 100%
FIGURE 4.19 REASON FOR CHOOSING E-PAYMENT SYSTEM
60%
50%
40%
30%
20%
10%
0%
FAST
TRANSACTION SAFETY
CONVENIENT
OTHERS
INTERPRETATION
From the above data reveals that out of 100 respondents 55 of them are choosing e-payment
system because of fast transaction, 14 respondents are choosing e-payment system because of
safety, 27 respondents are choosing e-payment system because of convenient transaction and
4 respondents are choosing e-payment system because of other reasons.

TABLE 4.20 WHETHER REWARDS MOTIVATE TO USE
E-PAYMENT SYSTEM
Yes 67 67%
No 33 33%
Total 100 100%
FIGURE 4.20 WHETHER REWARDS MOTIVATE TO USE
E-PAYMENT SYSTEM
INTERPRETATION
From this figure, out of 100 respondent’s majority of them are motivated by rewards to use e-
payment system.

TABLE 4.21 SOURCE OF AWARENESS ABOUT THE USE OF
E-PAYMENT SYSTEM
Internet 46 46%
Friends 33 33%
Media Advertisement 15 15%
Others 6 6%
Total 100 100%
FIGURE 4.21 SOURCE OF AWARENESS ABOUT THE USE
OF E-PAYMENT SYSTEM
OTHERS
MEDIA 6%
ADVERISEMENT
15%
INTERNET
46%
FRIENDS
33%
INTERNET FRIENDS MEDIA ADVERISEMENT OTHERS
INTERPRETATION
From this figure, out of 100 respondents 46 respondents are aware about the use of e-payment
system through internet, 33 respondents are aware about e-payment system through friends,
15 respondents are aware about e-payment system through media advertisement and 6
respondents are aware about the use of e-payment system through other ways.

TABLE 4.22 TIME TAKEN FOR COMPLETING TRANSACTIONS
THROUGH E-PAYMENT SYSTEM

2-5 Minutes 85 85%
5-10 Minutes 11 11%
Above 10 Minutes 4 4%
Total 100 100%
FIGURE 4.22 TIME TAKEN FOR COMPLETING TRANSACTIONS
THROUGH E-PAYMENT SYSTEM
90%
80% 85%
70%
60%
50%
40%
30%
20%
10%
11% 4%
0%
2-5 MINUTES 5-10 MINUTES ABOVE 10 MINUTES
INTERPRETATION
From this figure, out of 100 respondent’s majority of the respondents take 2-5 minutes for
completing transaction through e-payment system.

TABLE 4.23 WHETHER NEW FEATURES MOTIVATE TO USE
E-PAYMENT SYSTEM
Yes 75 75%
No 25 25%
Total 100 100%
FIGURE 4.23 WHETHER NEW FEATURES MOTIVATE TO USE
E-PAYMENT SYSTEM
80%
70%
60%
50%
40%
30%
20%
10%
0%
YES NO
INTERPRETATION
From this figure, out of 100 respondent’s majority of them are motivated by new features to
use e-payment system.

TABLE 4.24 TRUSTNESS WITH SECURITY OF E-PAYMENT
SYSTEM
Not at all 18 18%
A little 37 37%
Somewhat 34 34%
A lot 11 11%
Total 100 100%
FIGURE 4.24 TRUSTNESS WITH SECURITY OF E-PAYMENT
SYSTEM
NOT AT ALL A LITTLE SOMEWHAT A LOT
11%
18%
34%
37%
INTERPRETATION
From this chart, out of 100 respondents 18 respondents have not at all trust, 37
respondents have A little trust, 34 respondents have somewhat trust and 11 respondents
have A lot trust with the security of e-payment system.

TABLE 4.25 COLLECTION OF SERVICE CHARGE MAKES
E-PAYMENT SYSTEM EXPENSIVE

Strongly Disagree 1 1%
Disagree 12 12%
Neutral 40 40%
Agree 32 32%
Strongly Agree 15 15%
Total 100 100%
FIGURE 4.25 COLLECTION OF SERVICE CHARGE MAKES
E-PAYMENT SYSTEM EXPENSIVE
INTERPRETATION
The figure conveys that 12 percentage of respondents are of opinion that service charge
collection does not make e-payment system expensive and 1 percentage of respondents
strongly approves it. On the other hand, 32 percentage of respondents are of the opinion that
service charge collection makes e-payment system expensive and 15 percentage of
respondents strongly approves it. While 40 percentage of the respondents have a neutral
opinion on the statement.

TABLE 4.26 WHETHER THE PAYMENT GATEWAY MOTIVATE
FOR CONDUCTING THE TRANSACTIONS

Yes 72 72%
No 28 28%
Total 100 100%
FIGURE 4.26 WHETHER THE PAYMENT GATEWAY MOTIVATE
FOR CONDUCTING THE TRANSACTIONS
NO
YES
0% 10% 20% 30% 40% 50% 60% 70% 80%
INTERPRETATION
From this figure, out of 100 respondents majority of the respondents are motivated in
payment gateway for conducting the transactions.

TABLE 4.27 NUMBER OF TIMES THE E-PAYMENT APPS SHOWS
DISFUNCTIONING
1-5 Times 67 67%
5-10 Times 20 20%
Above 10 Times 4 4%
None 9 9%
Total 100 100%
FIGURE 4.27 NUMBER OF TIMES THE E-PAYMENT APPS SHOWS
DISFUNCTIONING
INTERPRETATION
From this figure, out of 100 respondents 67 respondent’s response is that the apps show 1-5
times disfunctioning, 20 respondents response is that apps shows 5-10 times disfunctioning, 4
respondents response is that apps shows above 10 times disfunctioning and 9 respondents
response is that the apps doesn’t shows disfunctioning.

TABLE 4.28 DIFFERENCE BETWEEN REWARDS AND ANNUAL
INCOME OF YOUNGSTERS
HYPOTHESIS TEST
H0: There is no significant difference between rewards and annual income of youngsters.
H1: There is significant difference between rewards and annual income of youngsters.
CHI SQUARE TEST OF ASSOCIATION
CONTINGENCY TABLE
Reward
Annual income No Yes Total
100000-200000 23 28 51
200000-300000 8 26 34
300000-400000 6 4 10
Above 400000 0 2 2
Below 100000 1 2 3
Total 38 62 100
SOURCE: COMPUTED FROM PRIMARY DATA
χ² Tests
Value df p
χ² 7.42 4 0.115
N 100

INTERPRETATION
Here, the test is failed to reject the null hypothesis (p value >0.05). Therefore, there is no
significant difference between rewards and annual income of youngsters.

TABLE 4.29 DIFFERENCE BETWEEN NEW FEATURES AND ANNUAL
INCOME OF YOUNGSTERS
HYPOTHESIS TEST
H0: There is no significant difference between new features and annual income of youngsters.
H1: There is significant difference between new features and annual income of youngsters.
CONTINGENCY TABLE
New features
100000-200000 14 37 51
200000-300000 8 26 34
300000-400000 3 7 10
Above 400000 0 2 2
Below 100000 0 3 3
Total 25 75 100
χ² Tests
Value df p
χ² 2.00 4 0.735
N 100
INTERPRETATION
Here, the test is failed to reject the null hypothesis (p value>0.05). Therefore, there is no
significant difference between new features and annual income of youngsters.

TABLE 4.30 DIFFERENCE BETWEEN PAYMENT GATEWAY AND
ANNUAL INCOME OF YOUNGSTERS
HYPOTHESIS TEST
H0: There is no significant difference between payment gateway and annual income of
youngsters.
H1: There is significant difference between payment gateway and annual income of
youngsters.
CONTINGENCY TABLE
Payment gateway
100000-200000 15 36 51
200000-300000 7 27 34
300000-400000 4 6 10
Above 400000 0 2 2
Below 100000 2 1 3
Total 28 72 100
χ² Tests
Value df p
χ² 4.69 4 0.320
N 100

INTERPRETATION
Here, the test is failed to reject the null hypothesis (p value>0.05). Therefore, there is no
significant difference between payment gateway and annual income of youngsters.

CHAPTER-5
FINDINGS, SUGGESTIONS,
CONCLUSION

FINDINGS
 Out of 100 sample respondents taken for the study, the majority 69 percentage of the
respondents are females and 31 percentage of respondents are males.
 The majority 72 percentage of the respondents are under the age group of 20-25 years.
 The majority 52 percentage of respondent’s annual income are between 100000-
200000.
 All the respondents taken for the study are using smartphone.
 From the study, out of 100 respondents, 76 percentage of the respondents preferred
Google pay, as their most liked mode of e-payment.
 The majority of the respondents are using smartphones for making the payment.
 95 percentage of the respondents states that e-payment system is user friendly.
 62 percentage of the respondents make the payment more than thrice in a month.
 48 percentage of the respondents are using e-payment apps for the purpose of
transferring money.
 The majority 77 percentage of the respondents think e-payment apps is accepted
everywhere.
 From this study, it is evident that e-payment system saves time and money.
 The study reveals, 49 percentage of the respondents are satisfied with their preferred
mode of e-payment system.
 As per the study, we can say that e-payment system is better than cash.
 Out of 100 respondents, 29 percentage of the respondents rely on e-payment system
for larger money value transactions, 29 percentage not rely on e-payment system for
larger money value transactions and 42 percentage of respondents may or may not for
the same.
 39 percentage of the respondents are moderately aware about the usage of e-payment
system.
 Majority of the respondents response is that sometimes there are some difficulties
while using e-payment apps.
 Under this study technological errors are the major barriers of e-payment system.
 The majority of the e-payment transactions among respondents lies between 1000-
5000 on monthly basis.

 Out of 100 respondents, 55 percentage of the respondents are choosing e-payment

system because of fast transaction.
 The majority of the respondents are motivated by rewards to use e-payment system.
 46 percentage of the respondents are about the usage of e-payment system through
internet.
 The majority of the respondents takes 2-5 minutes for completing the transactions.
 The majority of the respondents are motivated by new features to use e-payment
system.
 The majority of the respondents trust the security of e-payment.
 40 percentage of the respondents have a neutral opinion on that collection of service
charge makes e-payment system expensive.
 The majority of the respondents are motivated by payment gateway for conducting the
transactions.
 The majority 67 percentage of the respondents response is that the apps shows 1-5
times disfunctioning.
 There is no significant difference between rewards and annual income of youngsters.
 There is no significant difference between new features and annual income of
youngsters.
 There is no significant difference between payment gateway and annual income of
youngsters.

SUGGESTIONS
The following suggestions will be helpful for the e-payment apps to promote their services
among customers.
 The users should never share their personal information like PIN number, passwords,
etc. with anyone.
 PIN or password should not be stored, it should be changed frequently and
memorized before destroying.
 The risk of technological changes has to be carefully analysed. This is important to
update technologies and remain cost effective and customer friendly.
 Advertisement should be made in the social media networks which will capture young
people to get in to the usage.
 Discounts and offers should be made visible as promotional tools.
 The more adored feature of e-payment system is that it is a hassle free mode of
making an online payment. So e-payment system is performing well in terms of
privacy, transaction time, discounts, offers and customer satisfaction.
 Awareness programs must be done at educational sectors in order to educate people
about digital payment system.
 User friendly atmosphere must be created so that user can be retained to one particular
mode of payment.
 While making payments customer needs to give essential information. There must be
a better mechanism for maintaining the privacy of the information provided by the
user.
 As respondents are well aware of the e-payment system as per our findings steps must
be taken to minimize the deficiencies involved in digital payments like security
issues, trustworthiness.
 Many people use cards for all their needs but there is an additional charge on the use
of debit or credit cards. In order to encourage people to engage in digital modes it is
important to remove additional charges for just mere use of cards.
 Service providers of e-payment system must take in to considerations user experience
and take their valuable feedback in order to better their services.
 Allow payments without requiring an account.
 Make e-payment system more innovative by bringing more updating.

CONCLUSION
The study was accomplished to explore consumer’s perception, awareness and willingness to
engage in using e-payment system to replace the content of their physical wallets. With the
increased aggression of internet connectivity e-payment system has led to an increase on the
number of e-payment apps users. E-payment apps are getting more and more trending among
the consumers. Consumers or users will miss abroad features and easy money transactions if
they don’t use the e-payment apps. The use of e-payment apps for making online payments
has made a huge growth in few years. The number of users of e-payment apps is increasing
day by day. The wallets facility of these apps attracts a lot of users. Google pay is highly
preferred for making the payments directly from the bank account as compared to other apps.
More security features to be added to increase the user base further in future.
This study also proves that every respondents is having smartphone with them so it is easy for
the service providers to capture this age group. This study has made an attempt to find out the
awareness level and usage of e-payment apps among youth in Aluva region. This study
reveals that the majority of the respondents are aware about e-payment system for making the
payments. Rewards, new features, payment gateway were identified as the most important
variables. In spite of the minimum risk exposed by the e-payment apps the users showed
satisfaction while using them.
Discount offers and reward points on making payments through e-payment apps can increase
its popularity and adoption as well. It can be concluded that this project helps to understand
almost all factors that encourage or discourage the users from the usage of e-payment.

BIBLIOGRAPHY
REFERENCE
 JOURNALS
 Aditi Bansal (2014) made a study on “Paytm”, it studied about its achievements,
technical architecture of Paytm, working and technologies of Paytm.
 Akhila Pai. H. “Study on consumer perception towards digital wallets” Volume 5,
issue 3 (2018).
 Amal, Manisha Dahiya, and Naman Gupta. “Educating consumers about digital
wallets.” Int. J. Res 3(2016):743-75.
 Anshari, Muhammed (2021) The use of e-wallets could improve financial
institutions productivity and open the door to new services for client’s
convenience.
 Cherukur M R “A study on customer satisfaction on e-payment applications”
Journal of contemporary issues in Business and Government 26.2(2020):920-926.
 Doan (2014) the study measures the market condition of mobile wallet users.
 Dr Hem Shweta Rathore in her research “Adoption of digital wallet by consumers”
 Dr S Manikandan and J Mary Jayakody (2017) “An empirical study of Consumers
adoption of mobile wallet with special reference to Chennai city”
 Ghosh, Gourab Adoption of digital payment system by consumer volume 9, Issue
2 February 2021.
 Gurme, Vijayashri Machindra. “An empirical study on customer’s adoption of E-
wallet with special reference to Pune city,” volume 6 issue 12 may 2020.
 Kartikeya Bolar (2014) In his research paper “End-user Acceptance of
Technology Interface in Transaction Based Environment”
 Kaur, Puneet (2020) investigates the sharp rise in use of mobile wallet apps.
 Key Pousttchi and Dietmar G. Wiedemann in their paper “what influences
Consumers Intention to Use Mobile payments?” (2008)
 Maindola, Pallavi, Neetusinghal., and Akash D. Dubey “Sentiment analysis of
digital wallets and UPI systems in India post demonetization using IBM Watson
“2018 International conference on computer communication and informatics”
(ICCI). IEEE,2018.
 Mishra, A.B. “E-payment system: A rising trend of economy” New paradigm in
business & education (2020):1
 Poonam Painuly and Shalu Rathi (2016) in their research paper “Mobile wallet: An
upcoming mode of business transaction”
 Rajesh Krishna Balan, Narayan Ramasubbu, Giri Kumar Tayi studied in their
paper “Digital Wallet: Requirements and Challenges” (2006)
 Shivangi Jaiswal, Pankaj Joge(“A study on consumer acceptance of mobile wallet
with special reference to Durg/Bhilai”(http://www.ijamtes.org)
 T. Praiseye “A study on consumer preference towards mobile wallet” IJRAR
September 2018, volume 5, issue 3.
 TrillokNathShukla (2016) discussed about mobile wallet, working, types and its
advantages and disadvantages.
 Vinitha. K. and S. Vasantha “Usage of e-payment and customer satisfaction”
Executive editor 9.3 (2018):130.
 Zlatko Bezhovski (2016) ‘The Future of the Mobile Payment as Electronic
Payment system.’
 WEBSITES
 www.google.com
 www.wikipedia.com
 (http://www.granthaalayah.com)
APPENDIX
QUESTIONNAIRE
1. Name of the customer:
2. Gender:
Male☐ Female☐ Others☐
3. Age category:
15-20☐ 20-25☐ 25-30☐ Above 30☐
4. Annual Income:
Below 100000☐ 100000-200000☐ 200000-300000☐
300000-400000☐ Above 400000☐
5. Are you a Smartphone user?

Yes☐
No☐
6. Which is your most liked mode of e-payment system?

Google Pay ☐
Paytm ☐
Phonepe ☐
Others ☐
7. Which device do you use for making the payment?

Smartphone ☐
Computer ☐
Tablet ☐
All of the above ☐
8. Do you think online payments are user friendly?
Yes ☐
No ☐
9. How many transactions do you make in a

month? Only once ☐
Twice ☐
Thrice ☐
More than thrice ☐
10. For which purpose mostly you use e-payment apps?

Pay bills ☐
Recharge mobile balance ☐
Transfer money ☐
Others ☐
11. Do you think e-payment apps is accepted everywhere?
Yes ☐
No ☐
12. E-payment system saves your time and
money. Yes ☐
No ☐
13. Level of satisfaction towards the use of e-payment apps?
Highly satisfied ☐
Satisfied ☐
Neutral ☐
Dissatisfied ☐
Highly dissatisfied ☐
14. E-payment system is better than cash.
Strongly agree ☐
Agree ☐
Neutral ☐
Disagree ☐
Strongly disagree ☐
15. Do you rely on online payment system for money value transactions?
Yes ☐
No ☐
Maybe ☐
16. How you rate the level of awareness towards e-payment apps?
Not aware ☐
Slightly aware ☐
Moderately aware ☐
Very aware ☐
Extremely aware ☐
17. Is there any difficulties while using e-payment apps?
Yes ☐
No ☐
Sometimes ☐
18. For you what are the major barriers of online payment?
No barriers ☐
Technological errors ☐
Inconvenience ☐
Safety concerns ☐
Others ☐
19. Could you specify the money value of e-payment transaction on monthly basis?
Below 1000 ☐
1000-5000 ☐
5000-10000 ☐
Above 10000 ☐
20. Why you prefer e-payment apps?
Fast transaction ☐
Safety ☐
Convenient ☐
Others ☐
21. Does the rewards motivate you to use e-payment apps?
Yes ☐
No ☐
22. Which is the major source of awareness about the various e-payment apps?
Internet ☐
Friends ☐
Media ☐
Others ☐
23. How long it usually takes to send or receive money?
2-5 minutes ☐
5-10 minutes ☐
Above 10 minutes ☐
24. Does the new features motivate you to use various e-payment apps?
Yes ☐
No ☐
25. Do you trust the security of e-payment apps?
Not at all ☐
A little ☐
Somewhat ☐
A lot ☐
26. Collection of service charge makes e-payment system expensive. Do you
agree? Strongly agree ☐
Agree ☐
Neutral ☐
Disagree ☐
Strongly disagree ☐
27. Does the payment gateway for conducting the transactions motivate you?
Yes ☐
No ☐
28. How many times the apps show disfunctioning?
1-5 times ☐
5-10 times ☐
Above 10 times ☐
None ☐
29. Any suggestions for further improvement of e-payment services?

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A STUDY ON THE AWARENESS AND ACCEPTANCE OF VARIOUS

E-PAYMENT APPS AMONG YOUTH IN ALUVA

requirement for the degree of

(Reg. No. 210011025308)

Dr. Cini Kurian Prof. Shamila N A

Dr. Nisha Joseph

Place: Edathala APARNA M A

I am thankful to other faculty members of PG Department of Commerce for their valuable

Above all, I thank GOD ALMIGHTY for guiding my steps.

CHAPTERS PAGE NUMBERS

Review of Literature 7-11

Theoretical Framework 12-28

Data Analysis and Interpretation 29-60

Findings, Suggestions and Conclusion 61-65

4.2 Age of respondents 32

4.3 Annual income 33

4.4 Usage of smartphone 34

4.5 Most liked mode of e-payment system 35

4.6 Devices used for making payment 36

4.7 Whether the online payment system is user friendly 37

4.8 Number of transactions made in a month 38

4.9 Purpose of using e-payment apps 39

4.10 Whether the e-payment apps is accepted everywhere 40

4.11 Whether the e-payment system saves time and money 41

4.12 Level of satisfaction towards the use of e-payment system 42

4.13 E-payment system is better than cash 43

4.14 Response towards reliability of e-payment system for larger 44

4.16 Difficulties while using e-payment system 46

4.17 Major barriers of e-payment system 47

4.18 Money value of e-payment transactions on monthly basis 48

4.19 Reasons for choosing e-payment system 49

4.21 Source of awareness about the use of e-payment system 51

4.22 Time taken for completing transactions through e-payment 52

4.24 Trustiness with security of e-payment system 54

4.25 Collection of service charge makes e-payment system 55

4.28 Difference between rewards and annual income of 58

4.2 Age of respondents 32

4.3 Annual income 33

4.4 Usage of smartphone 34

4.5 Most liked mode of e-payment system 35

4.6 Devices used for making payment 36

4.7 Whether the online payment system is user friendly 37

4.8 Number of transactions made in a month 38

4.9 Purpose of using e-payment apps 39

4.10 Whether the e-payment apps is accepted everywhere 40

4.11 Whether the e-payment system saves time and money 41

4.12 Level of satisfaction towards the use of e-payment system 42

4.13 E-payment system is better than cash 43

4.14 Response towards reliability of e-payment system for 44

4.16 Difficulties while using e-payment system 46

4.17 Major barriers of e-payment system 47

4.18 Money value of e-payment transactions on monthly basis 48

4.19 Reasons for choosing e-payment system 49

4.21 Source of awareness about the use of e-payment system 51

4.22 Time taken for completing transactions through e- 52

4.24 Trustiness with security of e-payment system 54

4.25 Collection of service charge makes e-payment system 55

1 Al-Ameen College Edathala

2 Al-Ameen College Edathala

1.2 STATEMENT OF THE PROBLEM

1.3 OBJECTIVES OF THE STUDY

1.4 HYPOTHESIS OF THE STUDY