E-WALLETS: A STUDY OF PREFERENCE, USE, AND ADAPTATION AMONG VENDORS AND USERS

  • Pragati Mehndiratta Student, School of Management, Gautam Buddha University, Greater Noida (U.P.)

Abstract

This is the era of technology and convenience. The technological advancements have
allowed users to have access to almost everything at just a click away. The Internet has
increased the convenience among users and smartphones have revolutionized the way
consumers use the Internet. One such aspect of the Internet and Smartphones are Digital
Wallets, otherwise known as E-Wallets. In this fast-paced era, people would like payments
to be quick and hassle-free. Digital Wallets are typically hassle-free, quick and easy to
use and are preferred due to their simplicity and secure gateway systems. Digital wallets
are quickly becoming a mainstream mode of online payment, with the increasing number
of coupons and the offers that they provide. The aftermath of the Demonetisation of
November 2016 has drastically affected the use and adoption of Digital Wallets. The main
competitors in the market are Paytm, BHIM, Google Pay, PhonePe. They provide a wide
range of facilities including payments, movie ticket booking, bill payments, etc. This paper
focuses on the impact of these new digital payment systems on customers and vendors
alike and problems encountered if any. Using a structured questionnaire, data is collected
from 144 respondents (70 vendors and 74 users), and results are presented in the form of
graphs and charts.
Keywords:E-Wallets, Digital Wallets, Demonetisation, Banks, PayTm, Payments

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Published
2019-10-01
Section
Articles