CHAPTER – 1

INTRODUCTION

In earlier days, Banking can be defined as the business activity of accepting and safeguarding
money owned by other individuals and entities, and then lending out this money in order to earn
a profit. However, with the passage of time, the activities covered by banking business have
widened and now various other services are also offered by banks. The banking services these
days include issuance of debit and credit cards, providing safe custody of valuable items, lockers,
ATM services and online transfer of funds across the country / world.

Mobile banking is a service provided by a bank or other financial institution that allows its
customers to conduct financial transactions remotely using a mobile device such as a mobile
phone or tablet. It uses software, usually called an app, provided by the financial institution for
the purpose. Mobile banking is usually available on a 24-hour basis.

Mobile banking differs from mobile payments, which involves the use of a mobile device to pay
for goods or services either at the point of sale or remotely, analogously to the use of a debit or
credit card to effect an EFTPOS payment.The earliest mobile banking services used SMS, a
service known as SMS banking. With the introduction of smart phones with WAP support
enabling the use of the mobile web in 1999, the first European banks started to offer mobile
banking on this platform to their customers.Mobile banking before 2010 was most often
performed via SMS or the mobile web. Apple's initial success with iPhone and the rapid growth
of phones based on Google's Android (operating system) have led to increasing use of
special mobile apps, downloaded to the mobile device. With that said, advancements in web
technologies such as HTML5, CSS3and JavaScript have seen more banks launching mobile web
based services to complement native applications. A recent study (May 2012) by Mapa Research
suggests that over a third of banks have mobile device detection upon visiting the banks' main
website. A number of things can happen on mobile detection such as redirecting to an app store,
redirection to a mobile banking specific website or providing a menu of mobile banking options
for the user to choose from.
Online banking, also known as internet banking, e-banking or virtual banking, is
an electronic payment system that enables customers of a bank or other financial institution to
conduct a range of financial transactions through the financial institution's website. The online
banking system will typically connect to or be part of the core banking system operated by a
bank and is in contrast to branch banking which was the traditional way customers accessed
banking services.

To access a financial institution's online banking facility, a teacher with internet access would
need to register with the institution for the service, and set up a password and
other credentials for customer verification. The credentials for online banking is normally not the
same as for telephone or mobile banking. Financial institutions now routinely allocate customers
numbers, whether or not customers have indicated an intention to access their online banking
facility. Customer numbers are normally not the same as account numbers, because a number of
customer accounts can be linked to the one customer number. Technically, the customer number
can be linked to any account with the financial institution that the customer controls, though the
financial institution may limit the range of accounts that may be accessed to, say, cheque,
savings, loan, credit card and similar accounts.

A digital wallet refers to an electronic device that allows an individual to make electronic
transactions. This can include purchasing items on-line with a computer or using a smartphone to
purchase something at a store. An individual's bank account can also be linked to the digital
wallet. They might also have their driver’s license, health card, loyalty card(s) and other ID
documents stored on the phone. The credentials can be passed to a merchant’s terminal
wirelessly via near field communication (NFC). Increasingly, digital wallets are being made not
just for basic financial transactions but to also authenticate the holder's credentials.

 E-Wallet is changing the way consumers shop and buy goods and services, and has rapidly
evolved into a global phenomenon. E-wallet is an online prepaid account where
one can stock money, to be used when required.

 As it is a pre-loaded facility, consumers can buy a range of products from airline

tickets to grocery without swiping a debit or credit card.
Mobile Wallets will allow you to add funds and spend them.Ofcourse there are many Wallet
systems including PayTM and Mobinkwik.They also provide merchant services.

Types of E-wallet

Closed Wallets :

Closed mobile wallets can be used only for that particular company goods and services.

Semi-closed Wallet :

Semi-closed wallets also do not allow redemption or cash withdrawal. They can be used to
transact for goods and services (inclusive of financial services) at several different merchant
locations that have the required tie-up (contract) with the wallet issuing company to accept
payments.

Open Wallets :
Open Wallets are those that allow redemption as well as cash withdrawals (from automated
teller machines / business correspondents) in addition to the other features offered by semi-
closed ones.

The sites where e-wallet services are available generally have the following few easy steps to
get started.
How to use an E-Wallet
 Where you can use E-wallet?

 You can use your e wallet at multiple places authorized by respective

e- Wallet service provider. However, few common place this wallet can be used are –

 Mobile recharge

 DTH recharge

 Onlinegrocerystores
The e-wallet on this site can be filled up with any sum of money, starting from as low as Rs
10.

As we all know that the government has launched the digital India in order to avail services and
make payments to citizens electronically by improving online infrastructure or making country
as empowered in the field of technology

Now a days mobile payments are top investment priority for banks and infect it initiatives on
mobile banking or e-wallet.

As consumers are increasing usage of their mobiles for payments. Even most of the banks are
entered into e-wallet sector to avail or make simple for their payments such as like shopping,
recharge etc..,

The market for payments made through digital or e-wallet has been increased by 10% in the year
of 2011-2014.

These are the various top 8 e-wallets in India

 PayTM.
 Momoe.
 PayUMoney.
 Mobikwik.
 Citrus.
 State Bank Buddy.
 Citi MasterPass.
 As there is lot of impact of demonetization on people to move towards to e-wallet which
increased the usage of e-wallets and new entrances are came into market are

 Usp wallet
 Jio money merchant solutions
Need of the Study
The main reason for this study to know about E-wallet and as of India there are good number
of competitors in E-Wallet and even we know that usage of E-wallet is very low. Even there
are new entries in the market. But most of the customers are not aware of E-wallet or not
willing to use E-Wallet and what the companies are doing to overcome or make aware of
usage of E-wallets.

Scope of the study

Even Though E-Wallet is booming in India, but still it has a long way to go. According to study, only very
less people access or using E-Wallet and study is limited to only Warangal district.
The Objective of study
 Identifying the parameters that motivates the customer for going to E-Wallet.
 To know the reason why the people are not aware or unwilling ness to use E-Wallet.
 To identify the difference between E-Wallet shopping and debit card shopping.

 To identify the benefits that gained by customer by using E-Wallet.

 To study how Socio-Demographic or political effects on impact of E-Wallet on Consumer’s

Attitude.
Research Design and Methodology:

Research type: Questionnaires and Random sampling

Sample size: The sample size for this study is from 20-40(as we know that most of the people
not aware or not keeping it in usage so this is one of reason for sample size is low)
 Parameters of Interests:
 The respondent should also have an experience E-Wallet.

 The people who are not aware or un willing to use E-Wallet.

1.35 Limitations of the Study

Almost every study has some limitations and so as in our study.

 The first limitation caused during the market research was to find out the respondent who are
started using or aware of E-wallet.

 The second limitation caused during research is as mostly we will not female respondents
because they may be not aware or un willing to use.

 The study is limited up to only in Warangal district.

 In present situation in market there is lot of impact of demonetization so the result is not
accurate because of this impact.
 CHAPTER 2
REVIEW OF LITERATURE
Back to history, mobile wallet is developed from a concept called “Digital Wallet” or “E-
Wallet”. It dated back in 1996 when the founder of Digital Wallet, Sam Pitroda, who filed the
patent in the United States [see (Sam Pitroda Patents)]. He “professed that a digital wallet would
consist of a liquid crystal display not much bigger than a regular plastic bank card, which
preferably a touch-sensitive screen and simple user interface that lets the user flip through the
digital wallet in the same manner he/she flips through a leather wallet”. (Pitroda S., Desai M.,
2010)

The electronic wallet (e-Wallet) is just like a leather wallet as it does the same, in terms of
e-cash. In today’s life where monetary value and security both, go hand in hand, it is difficult to
satisfy customers using the routine cards. The main idea behind this paper is to bring in a cheaper, more
versatile and much more easily usable kind of a card. (Seligman)

In the Non-Confidential GSMA White Paper, e- wallet was defined as “a software application on
a mobile handset that function as a digital container for payment cards, tickets, loyalty cards,
receipts, vouchers and other items that might be found in a conventional wallet. The mobile
wallet enables the user to manage a broad portfolio of mobile NFC [Near Field Communication]
services from many different companies” (GSMA, 2012).
In other words, e- wallet is “formed” when your smartphone functions as a leather wallet: it can
have digital coupons, digital money (transaction), digital cards, and digital receipts...etc. all in
your smartphone. This means, you install the application that are created by some companies
such as Google Inc., Apple Inc. or PayPal in your phone, and use those applications to pay
directly for the products you have purchased (online/offline).( Kevin Erickson)
Mobile payment application is the latest paying alternative and an excellent application that
provides huge opportunity for the business communities to offer higher end value to the
customer. For any of the goods purchased, consumers can pay by using his/her mobile phone
instantly instead of depending on cash, chequeAnd credit cards. After failed forecasts in 2000
and 2004, again in the year 2009, it was foreseen that 3% of overall mobile phone user may start
making mobile payments more frequently, adopt at a later stage by2011-2012 and also may fall
in line for further growth as banks have started promoting mobile banking in Developing
countries like India and China as part of financial inclusion to promote mobile banking and
mobile payment (Gartner 2009).

E-wallet payment services can enjoy a consistent growth only when a service provider recruits a
strong marketing force capable of selling the concept of Mobile payment. Chen (2008)

Mobile payment application is the latest paying alternative and an excellent application that
provides huge opportunity for the business communities to offer higher end value to the
customer. For any of the goods purchased, consumers can pay by using his/her mobile phone
instantly instead of depending on cash, chequeAnd credit cards. (Heijden et al., 2003; Lee and
Turban, 2001; Sarker and Wells 2003).

The delivering of an m-payment or e-wallet system is an example of an digitalization as there are

several stakeholders from multiple industries: consumers, merchants, mobile network operators
(MNO), financial institutions, Mobile device manufacturers, software and technology providers
and regulators (Boer and de Boer, 2009)

Mobile technology adoption, a comprehensive model integrating consumer related variables

affecting the adoption of mobile payment systems has been proposed. These eleven variable
include perceived ease of use, perceived usefulness, facilitating conditions, attitude toward using,
perceived value, perceived security and privacy, social influence, trust, behavioral intention to
use, perceived risk, and attractiveness of alternatives in the context of mobile payments. (Donald
L. Amoroso Rémy Magnier-Watanabe)
 CHAPTER 3

INDUSTRY PROFILE

3.1 Introduction

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

Descriptions: 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,
onlinepurchases,andflighttickets,amongothers.

E-wallet has mainly two components, software and information. The software component
stores personal information and provides security and encryption of the data. The information
component is a database of details provided by the user which includes their name, shipping
address, payment method, amount to be paid,creditordebitcarddetails,etc.

For setting up an E-wallet account, the user needs to install the software on his/her device, and
enter the relevant information required. After shopping online, the E-wallet automatically fills
in the user's information on the payment form. To activate the E-wallet, the user needs to enter
his password. Once the online payment is made, the consumer is not required to fill the order
form on any other website as the information gets stored in the database and is updated
automatically.

 As e-commerce continues its rapid growth in the Asiatic region, mobile wallets have become
one of the most trusted and preferred ways to pay online. Most of these wallets incorporate
multiple payment methods, from bank transfers to credit cards, debit cards, gift cards and
more. That way, consumers with or without credit cards, can use mobile wallets.
 Some mobile wallet providers are giving facilities to unbanked consumers to deposit money
into their wallet through agents, but that is geographically very limited.
 Mobile wallet providers have now become a kind of mini banking institutions (Payments
banks) and it would not be surprising if they will get their banking licenses, and follow the
path like Paytm, Airtel etc. This will be very lucrative if we take into consideration the
Government’s agenda of financial inclusion. Paytm has over 100 million wallet users, which
is double that of Visa and Maestro penetration together (in India). Over and above this, in a
country such as India & BRIC nations the remittance market is huge. These Payment banks
can also leverage in this landscape.
 The financial institutions/e-commerce/lifestyle shops have realized the potential of mobile
wallets in terms of consumer experience and loyalty. That is why each one of them is coming
up with their own wallet which can be recently seen with the launch of SBI Buddy,
BookmyShow’s own wallet to name a few. It would be relatively easier for banks vs a non-
bank product, because they already have a trusting customer base and their product is less
likely to suffer from interoperability.

 In this segment, the highest 38% market share is captured by money transfer businesses,
followed by recharge and bill payments, and utility areas by 30% and 12% respectively.
Others enjoy 20% market share.


 Some of the major m-wallet players are Airtel Money, mRupee, Vodafone m-Peas, Oxygen
Wallet, PayTM, Mobikwik and Idea Money (VMSI).


 Advantages of the Digital Wallet

 Lower Costs: Employing the use of digital wallets removes the need for intermediaries, in a
variety of forms. Purchases in-store may no longer require a cashier because the purchasing
process becomes as simple as a tap or scan of a mobile device. Applications like Square can
replace expensive POS (point of sale) systems that will reduce transaction costs for the
business.

Competitive Advantage: Digital wallet applications provide a more convenient transaction

processing method for customers, giving businesses that employ this technology a competitive
edge in the market. It redefines the user experience of paying and incorporates a novelty
aspect to each purchase.

Modern: Traditional cash-only businesses, such as craft fairs and flea markets, can now
accept debit and credit cards. This opens up an entirely new aspect to payment methods in
large markets, introducing many business opportunitiesandgreaterpotentialrevenue.

Convenience: Users are able to get through a purchase in mere seconds with a simple tap or
scan of their mobile device. The experience of purchasing items becomes quicker and easier -
 leading to a greater sense of satisfaction. Furthermore, with faster transactions, checkout lines
within stores become much shorter.

Latest 5 Trends in e-wallet

The payment industry in itself keeps on evolving with the ever changing consumer sentiments
and the needs of the businesses. Innovations in this space is thus a continuous process, while
the adoption of each of new development takes its own pace to penetrate, here are 5 such
trends which are changing the way India pays

1. Shift to Mobile
In February 2016, a report by Counterpoint Research stated that India has become the second
largest smartphone market in the world with 220 million smartphone users. Thus, it does
make economic sense for businesses to have a mobile first/mobile ready platform. Payment
system providers are now offering ready-to-integrate development kits for mobile app
companies to deliver a native payment experience.

2. Wallets & Banking Apps

Savvy consumers are now even ditching their credit/debit cards when it comes to making a
purchase online, all thanks to wallet and banking apps which allow swift checkout experience.
In fact at EBS we have already integrated a number of mobile wallets & banking apps to
allow companies to provide this experience.

3. Wallet & PoS Integration

Another notable development that is happening with the onset of the wallet adoption is the
usage of these instruments beyond the digital space. Restaurants, brick and mortar stores
which depend upon PoS systems for payment collection can also give wallet users an option
to use the same instead of swiping their bank cards.

4. Government Support
Also, to keep up with the pace of the global economy, the Government too is pushing out
policies to encourage a movement towards a cashless society. This is happening through
 various initiatives: Payment banks, Bharat Bill Payment Services, proposal to do away with
surcharge / convenience fees, etc.

5. Contactless Payments
Payments via NFC is a development that has already come into practice. However now
contactless payment is the next step, where in a tangible scenario customers can make
payments by flashing their card at the terminal.
 CHAPTER – 4

DATA ANALYSIS & INTERPRETATION

Survey: The data has been collected from 75 respondents in Coimbatore. The questionnaire was
designed by keeping the objective of the study what are the factors that are impacting on the
awareness levels of E-Wallets and to find out the barriers to make people to overcome through
the problems

The survey main aim is to find the awareness levels in addition to that what are the barriers for
not aware of e-wallets. The data has been collected by using random sampling and collected face
to face to know their awareness levels and finding the major barriers

The following are the questionnaire & analysis

1. Are you aware of e-wallets?

As my project is started after the demonetization, so from that survey it is observed that up to
75%of people aware of e-wallets and before demonetization there is no much awareness levels
on e-wallets views expressed by the respondents.
2. What are the factors made you to aware of e-wallets?
Majority of the respondents are became aware of e-wallets through the TV advertisements and
person to person interaction and there is no much effect of print, telephone calls, mails and bill
board.

3. Are you user of e-wallets?

The majority of the respondents are the users of the e-wallets and most of the respondents are
started using after the effect of demonetization and their main intention towards usage of e-
wallets is to quick payment and transfers.

4. Which e-wallet comes to your mind, when you think e-wallet service providers?
 The 75%respondents are said that PayTM and next Freecharge ,mobiwik&oxygen and most of
the respondents are also users of PayTM because it created a bus or done lot of promotional
activates than its competitors and satisfied the customers expectations

5. Who provides e-wallet services?

According to the survey, the majority of the customers are equal.
Bank
The customers are expressed that it is more safe than other service providers and they had
maintain good relationship with the customers and there is no chance fraud or cheating
Other service providers
The majority of the respondents are said that they selected other service providers because of
more promotional activities and quick access and less transactional costs

6. Please specify the name of the e-wallet services provided by the bank where you hold an
account?
The majority of the respondents are written sbi, Icici and most of the respondents written sbi
buddy’s, Icici pockets, PayTM and oxygen
7. Do you aware of the following company’s e-Wallet service providers?
Majority of the respondents are said that PayTM because lot of promotional activities through
online and offline and next it comes to oxygen because there is special discounts are provided be
the oxygen e-wallet for particular online shopping websites to attract the customers.
8. What are the following factors that influence to use e-wallets?
Majority of the respondents are expressed the
By using e-wallet it can makes payment easier and no time wastage and it is definitely beneficial
They are judged their answers by as there is lot of impact on banks and atms and every atms
carry’s no cash boards so then they realised and started the using of e-wallets and there is no
such problems like shortage of cash and no waiting lines and make our payment by single click,

9. How long have you been using e-wallets?

Most of the respondents are started using after impact of demonetization
Majority of the respondents are selected the year because they had faced lot of problems because
of demonization
Only 10%of the respondents are selected the more than a year who are highly educated and
employs
10. How frequently do you use your e-wallet?
Most of the respondents are using the e-wallets once and twice a week
They are using mostly e-wallets for payments like grocery, mobile recharge etc…,

11. Are you aware of the transactional costs that are charged by e-wallet service providers?
Majority of the customers are aware of transactional costs and most of the customers are not
worrying about the transactional costs because of the transactions are done quickly and even it is
reducing the time than the normal payments
12. According to your opinion is transactional costs are reasonable?
According to the respondents are satisfied with the transactional costs and even it acts as tool to
overcome the demonetization and majority of the customers are not concerned about the
transactional costs and they mainly focused on easy payments and transfers

13. What made you to choose particular e-wallet service providers?

Majority of the customers are choosing the e-wallet service provider basing on the
Whether it is user friendly and trusted brand and one more important factor is secured payments
are there or not.
14. What are the various payments that are paid through your e-wallet?
Most of the respondents are using e-wallets for recharging their mobiles and next for online
shopping and the grocery and utility payments.

15. Are you satisfied with the one to one transfer or payments?
Presently the customers are satisfied with the one to one transfer payments and as it is initial
stage customers are not expecting much from the service providers and as it is increasing in the
competition and change the customer styles definitely there may be chance of expectation from
the service provider.
So before the customer expectations that service providers has to take step to overcome the
problem.
16. What are the additional services that have to be provided by e-wallet service providers?
Presently up to 95% of the customers are happy with the services provided by the service
provider and only very small issue that there is time lag between payments, so if they work on it
there is no problems from the customer point of view.

17. According to your experience of using e-wallet is better than traditional payment process?
Definitely, 99.9% of the respondents are said that there is lot of benefits and it is much better
than the traditional payments.
It decreases their time and quick payment and no need of carrying debit and credit cards and by
just single click their payment is done.
18. Are you satisfied with your existing e-wallets?
Presently most of the respondents are satisfied with their existing e-wallets and as there is
increasing in the competition and difference between the service providers there is chance of dis
satisfaction levels may arise.

19. If no, what are the reasons?

95% of the customers are satisfied with their existing e-wallets, and just only5%respondents are not
satisfied because of the no proper response from the customer care and no much discounts on the
online shopping sites.
20. Will you recommend to others to use e-wallet services?
Most of the respondents are said that definitely they will suggest or recommend the e-wallet because
of the no need of going to banks ,no time waste and only but one drew back they said that the people
who are illiterate so there is no use for such segments

21. What are the reasons that are not recommending to others to use e-wallet?
Majority of the customers said that they will recommend to others but only few of the respondents
are faced problems like no secured paymentsa,no proper customer care, so the respondents those
who faced such problems they said they will not suggest to other people.
22. What are the major barriers for not using e-wallets?
Majority of the respondents said that they will not know how to operate and no secured payments
and not have much knowledge about the product.

23. What are the major reasons that made you to not aware of e-wallets?
Majority of the customers said that there is one drew back is lower or no higher education levels and
their minds are filled with some bad perception like hacking or etc…,
24. What are the major steps to be taken by the bank to aware and use of the e-wallets?
96% respondents have said that the banks have to take imitative step to make awareness about e-
wallets and provide basic information like how to operate and it has to take lot of promotional
activities because of it is initial level so the customers have to more and more about the product.

GENERAL OBSERVATIONS:
 From the research it is observed that most of the people started using the e-wallet after impact of
demonization
 Majority of the customers are only using PayTM
 There is also lot of impact of advertisement while selection of e-wallet
 Even most of the people are stopped using because they do not know how to operate it
 CHAPTER – 5

5.1 Findings:

From the research the following are the major findings……….

 It is observed that most of the customers are not much aware of e-wallets
 Discounts & offers plays key role in selection of e-wallets
 Most of the customers are also not much aware of transactional costs
 From the research it is found that all the customers have impacted huge due to demonetization
 The major problem faced from the customer is they are still doubted about their payments
 The banks are not much focusing on the advertisement than the private players like PayTM etc..,
 It is observed that most of the users of e-wallet are from urban areas.
 Still most of the customer from rural areas are not aware of e-wallets
 Still there is confusion in the minds of the customer between the online banking and e-wallets
 Because of demonetization e-wallet became alternative payment tool for the customer

5.2 Suggestions:

 The e-wallet service providers first they have to create awareness programs in rural areas to
increase the users
 When customers are in the initial stage of using guide and help the customer
 At present there is only one to one to transfer so they have to work on that to make one to any
 Still people are doubted about secured payments so maintain good customer relationship to
create confidence and trust in the minds of the customers
 Provide more offers and discount to habituate the customers through shopping e-wallet
 According to the survey it is observed that most of the people are started using through e-wallet
person to person and advertisement so increase more promotional activities to attract the
customers
 E-wallet service providers has to maintain customer database so that they can remind them by
sending messages for the new offers and discounts
 To increase the footfalls to the service provider has to maintain the quick transfer or payments
and maintain secured payments and quick response to the customer query’s
 The e-wallet service providers has to make difference between the online banking and e-wallet
 The e-wallet service providers has to explain the benefits and advantages by using the e-wallet
 They have to make personal relations with their customers &solve the problems with in short
time

5.3 Conclusion

The e-wallet payment is the one of the modern payment method in Indian. Due to technological
up gradation the banking sector is changing the payment systems to be much easier to the
customer to cope with the customer tastes and needs and lifestyles. The change has come due to
increased income and changing lifestyles. Now, the consumer wants to make the payments just
in a single click without carrying any money or cards etc.., .However, on the other hand the
traditional payments are gradually decreasing and started using modern payments system by the
customers. The e-wallet service providers also adopting different strategies and maintaining the
good relationship to increase the convert rate and retaing the customers This study is mainly
focused about awareness levels, impact & problems faced by the customers. Finally it is
concluded that the the service providers who focus much on person to person and maintain
customer relationship have more impact on consumers to make aware and usage of e-wallets

5.4 Emerging sectors/trends in Indian retailing

Within banking, the technological innovation leads to creation of e-wallet
Key drivers:
4g availability
Increase of support from government
Expected to reach the targeted market within 1-2 years

Under its Digital Payments awareness and training programme, the ministry said that Common
Service Centre (CSC) network, which provides government service in rural area, has enrolled
over 25 lakh rural citizens for digital payments.
Digital Payment – even without a smartphone – use BHIM
Friends, there has been a flurry of activity in the digital payments space in India over the last 2
months or so. While there are many choices in the market, UPI and now BHIM are particularly
useful for the many citizens in rural areas or of low economic context.

BHIM solves this problem as well. So, how does it work? Here’s a simple tutorial. Kindly read it
and take the effort to share with as many citizens as possible. If you have the time and
motivation, please take the effort to educate fellow citizens – it will serve them in these times of
cash shortage.

Salient features

Works on both smartphones (Android only, at this point) or non-smartphone

Operates on SMS – no need for internet also, although it works on internet

Mobile Number becomes Payment Address (PA)

Strengths of e-wallets
Easy access
Accessibility and convenience
Flexibility
Safety and control
More discounts and offers
With the above strengths mentioned so that e-wallet service providers are withstanding in the
marketing by differentiating the competitors
Critical issues:

Privacy & Anonymity

With the increasing usage of the Internet, the fears of privacy abuse become a top concern of
most of the Internet users.

Fraud Risk
The pattern of fraud is changing. Electronic payments frauds are rapidly emerging in the
organization. It becomes a major problem for business today.
 Lack of Usability

Electronic payment system requires large amount of information from end users or make
transactions more difficult by using complex

Lack of Awareness

Many of the people are still not aware of e-wallets, so it is one of the major drew back for the e-
wallets. Even educated people also face problems in making modern payments. Therefore, they
always prefer traditional way of shopping instead of modern shopping. Sometimes there is a
technical problem in server customers tried to do modern payments but they fails to do. As a
result they avoid it.

Modern Payments are not Feasible in Rural Areas

The population of rural areas is not very literate and they are also not able to operate computers.
As they are unaware about technological innovations, they are not interested in modern
payments. So the modern payment systems are not feasible for villagers.

Bottlenecks

 Limited promotional activities

 Lack of awareness
 No secured payments
 Difficult to operate
 Lack of education levels
 Difficult to attract rural people

5.5 Scope for further study:

There is huge scope for this topic. The scope of the study is limited to only Warangal city that to
only consumer awareness levels towards e-wallets. The sample size for this survey was low that
can be

Increased to larger extent to know the exact reality how these customers are being benefited by
e-wallet service providers than the traditional payment methods
 References:

https://en.wikipedia.org/wiki/Digital_wallet

http://www.business-standard.com/article/economy-policy/your-thumb-is-your-bank

International Journal of Management, MIT College of Management, Vol. 3, No. 1, January 2015, pp.
33–36 33 ISSN 2321- 6700 © MIT Publications

http://innovativejournal.in/jbme/index.php/jbme

http://www.investopedia.com/

Electronic Payment Systems Observatory Newsletter, Vol. 9

Herzberg, Amir,(2003) “Payments and Banking with Mobile Personal Devices”, Communications
ofthe ACM, Vol 46, Iss 5, Page No 53-58.

[17] Karnouskos, S and F. Fokus.(2004), “Mobile Payment: A Journey Through Existing

Procedures and
Standard Initiatives”, IEEE Communications Surveys & Tutorials, Vol 6, Iss 4, pp. 44-66.

Kim,C., Mirsobit, M. and Lee, I. (2010), “An Empirical Examination of Factors Influencing the
Intention to Use Mobile Payment”, Computers in Human Behavior, Vol 26, pp. 310–322.

http://www.onlinejournal.in/IJIRV2I9/269.pdf

pmjandhanyojana.co.in/list-e-wallet-companies-india/

www.thewindowsclub.com/best-mobile-wallets-in-india
 QUESTIONNAIRE:

Consumer awareness towards e-wallets

NAME:
GENDER:
AGE:
OCCUPATION:
QUALIFICATION:

__________________________________________________________________

1. Are you aware of e-wallets?

a. Yes
b. No (if your answer is no please go to question number 22)

2. What are the factors that made you to aware of e-wallets

a. Person-to-person interaction b. Telephone call
c. TV adverts d. Radio adverts
e. Print adverts f. Billboards / outdoor adverts
g. Mail /SMS
h. Others (please specify)......................................................................

3. Are you the user of e-wallet?

a.yes

b.no (if your answer is no please go to question number 20)

4. Which e-wallet comes to your mind, when you think of e-wallet service providers?

a. PayTM b.Freecharge
c.Mobikwik d. Oxygen
 e.Other…………………………………………………….

5. Who provides e-wallet service?

a. Bank b. Another service provider

6. Please specify the name of the E-wallet services provided by the bank where you hold an
account:
Bank name:.....................................................e-wallet name.........................

7. Do you aware the following company’s E-wallet services providers:

a. PayTM b. Freecharge c. Oxygen
d. Citi MasterPass e. Citrus Pay e. Ezetap
f. Jio Money g. Juspay f. Lime
g. Others, please specify..........................................

8. What are the following factors that influence you to use mobile wallets?
.Mobile wallet services are a useful mode of payment

a. Using mobile wallet services makes the handling of payments easier.

b. The interaction with mobile wallet services is clear and understandable.
c. It is easy to interact with mobile wallet services app.
d. When using mobile wallet, I believe my information (bank / card details) is kept
confidential.
e. I think that using online wallets can save my time in performing banking transaction.
f. I think that using online wallets can offer me a wider range of banking services and
Payment options.
g. Using mobile wallet services is beneficial.
i. Mobile wallet services are a useful mode of payment
9. How long have you been using e-wallets?
a. Less than year b. 1-2 years
c. More than 2 years

10. How frequently do you use your e-wallet?

a. Once a week b. Twice a week

c.More than twice d.Not regular

11. Are you aware of the transactional costs that are charged by e-wallet service providers?
a. Yes b.No

12. According to your opinion is transactional costs are reasonable?

a.yes b.no

13. What made you to choose particular e-wallet service provider?

…...............................................................................................................
…................................................................................................................

14. What are the various payments that are paid through your e-wallet?
a. Mobile recharge b. grocery
c. Online shopping d. Rents
e. Utility Payments f. Others

15. Are you satisfied with one to one transfers or payments?

……………………………………………………………………………....

16. What are the additional services that have to be provided by e-wallet service providers?
……………………………………………………………………………………………
…………………………………………………………………
 17. According to your experience of using e-wallet is it better than traditional payment
services?
……………………………………………………………………………………………
…………………………………………………………………

18. Are you satisfied with your existing e-wallet?

a. Yes b.no

19. If no, what are the reasons?

a. No secured payments b. Difficult to operate
b. No proper response from customer care
c. Less discounts on online sites
d. There is no facility of refund

20. Will you recommend to others to use e- wallet services?

a. Yes b.No

21. What are the reasons that you are not recommending to others to use e-wallet?

a. No secured payments
b. No proper response from customer care

22. What are major barrier of not using e-wallets?

a. No Secured payments
b. Difficult to operate
c. No smart phones
d. There is no facility of refund
e. Only one to one transfer
23. What are the reasons that made you to not ware of e-wallets?
a. Lower education level b. Rural areas
c.Low promotional activities

24. What are the major steps to taken by the bank to aware and use of the e-wallet?
a. Initial training to the people
b. creating awareness in rural areas
c. Increasing of promotional activates