ISSUES AND CHALLENGES OF

E-WALLETS

SUBMITTED BY :
ABHINAV SHARMA (04)
DIKSHA GUPTA (20)
KOHIT TANGOTRA (29)
KOMAL RAINA (31)
OVERLEAF
INTRODUCTION
ISSUES AND CHALLENGES OF E-WALLETS
TYPES OF E-WALLETS
LITERATURE REVIEW
OBJECTIVES
DATA ANALYSIS
SCOPE OF STUDY
RESULTS AND FINDINGS
CONCLUSION
LIMITATIONS
 INTRODUCTION
Electronic payment system is a mode of payments over an electronic network such as the
internet.
In other words we can say that e-payment is a method in which a person can make online
payments for his purchase of goods and services without physical transfer of cash and
cheques, irrespective of time and location.
TECHNOLOGY : A digital wallet has both a software and information component. The
software provides security and encryption for the personal information and for the actual
transaction. Digital wallet is being used more and more in Asian countries as well. One in five
consumers in Asia are now using digital wallet representing twofold increase from two years
ago
E-wallet is a type of pre-paid account in which a user can store his/her money for any future
online transaction. An E-wallet is protected with a password. With the help of an E-wallet,
one can make payments for groceries, online purchases, and flight tickets, among others.
ISSUES AND CHALLENGES OF E-WALLETS
ISSUES
CHALLENGES
 TYPES OF E-WALLETS
1) Airtel Money:
With the Airtel Money app, users can easily recharge prepaid accounts or pay postpaid
bills.
2) Citi MasterPass:
Citi MasterPass, a free digital wallet, helps make checking out while online shopping a
speedier process.
3) Citrus Pay:
Citrus Pay, one of the top e-wallets in India, it offers a Citrus wallet for customers as well as
payment solutions to businesses.
4 Ezetap: Ezetap is a Bangalore based digital payment solution founded in 2011, offers
business owners solutions to accept card payments via electronic devices. It also send
customers e-receipts through an SMS or email.
 5) Freecharge:
Free charge, one of the most famous names right now when it comes to digital
payment in India, has been known to target the youth in all their promotions. With
equivalent amount of coupons given for every recharge you make, its a great option
to save while paying your bills online.
6) HDFC PayZapp:
HDFC PayZapp, 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 to worry about making payments.
7) ICICI Pockets:
While you might find a Pocket card redundant, considering youre opting for an e-wallet
app to avoid using a card, they do have a pretty neat wallet app. Its VISA powered and
can be used on any Indian website, or to transfer money to email ids, WhatsApp contacts,
and also just tap and pay your friends easily.
8) 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
REVIEW OF LITERATURE

ARE DIGITALWALLETS THE NEWCURRENCY?

[1] ARE DIGITALWALLETS THE NEWCURRENCY?

Roopali Batra*Apeejay Journal of Management and Technology

January 2016, Vol.11, No: 1

ABSTRACT: - India is heading on the path of a major digital revolution. Digitalization of the payment mechanism will be considered
as landmark in the era of cashless future economy. The present research aims to empirically examine the adoption patterns of digital
wallets by of the respondents. An exploration of customer perception, usage pattern preferences and satisfaction level regarding digital
wallets is made based on a study of 52 respondents. It further identifies the barriers and challenges to the adoption of digital wallets. To
attain the aforesaid purpose a well structured questionnaire was administered to respondents wherein they were asked various with
regards to adoption of digital wallets.

The results indicate that there exists a huge untapped market for digital wallets both in terms of increasing awareness as well as its
usage. Time saving and ease of usage were found to be the main reasons for using wallets .However, safety of money transacted
remained their major concern. Security issues in terms of fear of cash loss and

lack of usability for international transactions are the prime barriers to its adoption. The study makes a valuable contribution to
research in the area of finance, by exploring digital payment systems in India, an emerging concenpt
 [2] ADOPTION OF DIGITAL WALLET BY CONSUMERS
Dr Hem Shweta Rathore (hemshweta@gmail.com), Assistant Professor
Bharati Vidyapeeth's Institute of management Studies & Research, Navi
Mumbai
OBJECTIVES

1. To study the usefulness of Mobile wallet services are a useful mode of

payment.
2. To measure the consumers credibility for using E Wallets in India.
3. To suggest response mechanism for strengthening E wallets usage in
cashless transaction.
4. To find the impact of usefulness, credibility, compliance, assurance for
the intention to use E wallets in Jammu .
HYPOTHESIS

Hypothesis designed are as follows:-

Ha0: There is relationship between usefulness, credibility, compliance, and
assurance.
Ha1: There is no relationship between usefulness, credibility, compliance,
and assurance.
Hb0: There is no effect of assurance, usefulness, and credibility on intentions
of usage of e wallets.
Hb1: There is effect of assurance, usefulness, and credibility on intentions of
usage of e wallets.
 DATA ANALYSIS
DESCRIPTION AVERAGE STANDARD
DEVIATION

USEFULLNESS 4.32 0.35

CREDIBILITY 3.02 0.30

RESPONSIVENESS 4.09 0.36

COMPLIANCE 4.25 0.366

ASSURANCE 4.31 0.4

INTENSION TO USE 4.13 0.65

 ON THE BASIS OF DEMOGRAPHIC
DESCRIPTION NUMBER PERCENTAGE

GENDER
Male 13 45
Female 17 55
MARIATIAL STATUS
SINGLE 23
MARRIED 21 70
OTHERS 7 7
2

AGE
Below 35 15 50
35-45 9 30
Above45 6 20

EDUCATION
Illiterate 4 11
Secondary 8 27
Graduation 16 55
Others 2 7

TRANSCATIONS
Below10,000 18 60
10,000-50,000 5 17
Above 50,000 7 23
 CORRELATION MATRIX

USEFULNESS CREDIBILITY RESPONSIVNESS COMPLIANCE ASSURANCE

Usefulness 1

Credibility -0.049629831 1

Responsiveness 0.245772723 -0.070920148 1

Compliance 0.052166184 0.042934313 0.155157767 1

Assurance -0.173618045 -0.254605601 -0.09399833 0.290261681 1

Regression of usefulness , credibility ,
responsiveness , compliance ,& assurance on
intension of usage of E-WALLETS
SUMMARY OUTPUT

Regression Statistics
Multiple R 0.046603495
R Square 0.002171886
Adjusted R
Square -0.033464833
Standard
Error 0.166314147

Observations 30

ANOVA
Significance
df SS MS F F
Regression 1 0.001685767 0.001685767 0.060945167 0.806809344
Residual 28 0.774491073 0.027660395
Total 29 0.776176841

Standard
Coefficients Error t Stat P-value Lower 95% Upper 95% Lower 95.0% Upper 95.0%
Intercept 3.952814697 0.201027149 19.66308883 6.33115E-18 3.541029254 4.36460014 3.541029254 4.36460014

X Variable 1 0.011868948 0.04807758 0.24687075 0.806809344 -0.086613508 0.110351404 -0.086613508 0.110351404

 SCOPE OF STUDY
This study is very much relevant to present times as this will provide
awareness about the issues and challenges of digitalization of payments.
The sudden surge in digital payments arose due to demonetization and
cash crunch.
Customers have adjusted to it to a great extent which is a good step. This
study wants to unravel the real scenario and also look into the threat that
looms over due to the security reasons
 FINDINGS AND CONCLUSION
FINDINGS
From the study it was found that 45% of the respondents were male and other 55% were
females.

From the study it was found that there were 50% respondents below the age of 35 yrs.
There were 30% respondents between the age of 35-45yrs. And only 20% respondents
were above 45yrs.

From the study it was founded that 70% of respondents were married and 23%
respondents were unmarried and 7% were others.

Security and safety of funds is the most changeling issues for the users.

It was found the digital wallet can be an alternative choice for online payments.
CONCLUSION

Digital wallets are quickly becoming mainstream mode

of online payment. Shoppers are adopting digital wallets
at an incredibly rapid pace, largely due to convenience
and ease of use. Tech-savvy shoppers are increasingly
demanding seamless, Omni-channel retail experiences
and looking for solution that deliver this. Theres no
question 2017 will be a pivotal year as digital wallets
gain more widespread acceptance.
LIMITATIONS

The study is limited to Jammu city only.

The study revolves only around the e wallets
Data pertaining to study has been collected only for few months.
Time is limiting factor as the study is conducted in a very short span of time.
REFRENCES

http://www.gallup.com/businessjournal/183920/customers-aren-adopting-digital-wallets.aspx
http://www.gallup.com/businessjournal/183920/customer s-aren-adopting-digital-wallets.aspx
http://www.mobilecommercedaily.com/2016-is-mobile- wallets-year-with-20pc-usage-
increase-since-2014-citi
http://www.researchandmarkets.com/reports/3022303/
http://allusefulinfo.com/pros-cons-of-digital-wallets/
http://gadgets.ndtv.com/apps/features/seven-mobile- wallets-every-indian-should-know-
about-754812
http://www.adweek.com/socialtimes/report-digital- wallet-usage-increased-20-from-2014-to-
2015/633290
THANK YOU