Literature Review

1. [ CITATION KSu18 \l 1033 ]

The study examines the effect of adopting digital payments impact on consumers of the banking
sector of India. The result put together gives us an important policy direction towards what can
enable the country to increase cashless payments. The results indicate that the deployment of
technology for digital payments have improved the performance of banking sector and able to
achieve the motive cash less country. The study gives emphasis to the percentage of awareness
on maximum utilization of technology. Banks should take effective measures in creating
awareness towards the effective usage of technology and security

2. [ CITATION Anj18 \l 1033 ]

The study was done about the customer perception concerning Mobile wallets. In this study
they examined that the factors exploration technique is used to classify the factors which
influence customer opinion towards Mobile wallets. The study has been conducted about the
different types of mobile wallets in India. The data is collected from both secondary data and
primary data. The survey was conducted among 139 mobile respondents in the
telecommunication industry.

3. [ CITATION Jas16 \l 1033 ]

They have conducted a study to identify various factors influence on the adoption of mobile
wallet payment among customers They considered the various variables for the study are
Convenience, Trust, Security, and Adaptability which have an impact on the satisfaction of
mobile wallet usage. The study was conducted in the Kurali city, District of Punjab. Pearson's
Correlation Analysis was to investigate the relationship between the different basic variables of
the study. The study findings show that mobile wallets are considered as the futures of cash

4. [ CITATION Sat18 \l 1033 ]

The study is to find out whether customer demographics influence adoption intention for
payment wallets in India and to identify the parameters that are most important in predicting
consumers’ adoption intention and whether the market can be segmented into different
customer groups.
To develop and test a model to better understand the factors which are most important in
predicting consumers’ adoption intention to adopt digital wallets in India. To find out if the
market can be segmented into different customer groups with their own unique criteria of
adoption intention for payment wallets services. It was discovered that several constructs not
included in the original UTAUT model, like perceived self-efficacy, personal innovativeness &
individual playfulness, attractiveness of alternatives and perceived value that play a significant
role in influencing consumers’ attitude towards payment wallets services.

5. [CITATION ASt \l 1033 ]

They explored the factors determine the adoption of mobile banking (m-banking) services
among students who are more technically knowledgeable. The questionnaire is prepared based
on the qualitative approach. Based on the extension of the Technology Acceptance Model, the
theoretical framework is developed to investigate the factors that determine student’s
 acceptance of mobile banking. The constructs of TAM for mobile adoption such as Perceived
Ease of Use, Perceived usefulness, Perceived Value, Trust Intention to Use, and Usage Behavior
were used. The statistical tool multiple regression analysis was used to examine the influence of
independent variables on the dependent variable of intention to use m-banking. The
independent variables trust, perceived value, perceived ease of use and social influence may
account for 42percent on the influence of dependent variable.

6. [ CITATION ABH17 \l 1033 ]

They tried to analyse the use of Paytm by users of mobile phones and also to find out various
issues faced by users of Paytm. The research categorized on the basis of, age, Purpose of usage,
Frequency of usage and average monthly spending on Paytm by the respondents. Study further
elaborates that Paytm is quite convenient owing to wide network of partners. This paper
concludes that to improve the transaction efficiency it needs to work upon the payment
gateway as 70% people face issues with it. In order to cater the requirement of maximum
customers, the service needs to improvise as indicated by only 5% people respondents to have
got help every time they encounter a problem in it.

7. [ CITATION Paw16 \l 1033 ]

This paper stresses upon paperless transaction of e-currency that is getting popular all over the
world, i.e., digital wallet. The researcher in this paper has tried to get information on the
awareness and use of Payment wallets in youth of India. The study shows that popular wallets
are the ones which are associate to the online business companies and those with the banks are
doing fine.

8. [ CITATION DrR16 \l 1033 ]

this study targeted among the population of Jalgaon the preference towards mobile wallets and
carefully examine the effects of demographic variables on the use of m-wallets along with the
factors influencing and refraining for the use of m-wallets. The study concludes that India needs
to move towards a cashless from cash-based electronic payment system. This will be useful in
reducing currency management cost, check tax avoidance / fraud, track transactions, etc.,
integrate the parallel economy with main stream with financial inclusion. This paper concludes
that in pushing cashless and electronic payments, the most significant contributor emerged is
the M-wallet.

9. [ CITATION Meh15 \l 1033 ]

She observed that establishment of Payments Bank represents an effort to redefine banking in
India. It would enable poorer citizens who primarily transact in cash to take their first step into
formal banking and accelerate India’s journey to cash less economy.

10. [ CITATION Piy17 \l 1033 ]

conducted a study an analysis of growth pattern of cashless transaction system concluded that
the cashless transaction system is reaching its growth day by day, as soon as the market become
globalized and the growth of banking sector more and more the people move from cash to
cashless system. The cashless system is not only requirement but also a need of today society.
All the online market basically depends on cashless transaction system. The cashless transition is
not only safer than the cash transaction but is less time consuming and not a trouble of carrying
and trouble of wear and tear like paper money. It also helps in record of the all the transaction
done. So, it is without doubt said that future transaction system is cashless transaction system.
QUESTIONNAIRE
Basic information:

Gender: *Male *Female

Age: *18-25 *25-35 *35-50 *above 50 yrs.
Profession: *student *Business *service *Government Employee
*other, specify___________
Annual Income: *Under 2.5 lacs *2.5-5lacs *5-7.5 lacs *7.5 lacs and above

Please Tick (󠇢√) in the box given below the questions to answer: -
Q1. Are you aware of usage of payment wallets?
*Yes
*No
Q1. Do you use payment wallets?
*YES
*NO
Q2. According to you, are payment wallets a convenient way to pay?
*YES
*NO
*Can’t’ say
Q3. How frequently do you use payment wallets? (Rate from 1-5 where 1=very rarely and 5=very
frequently)
1 2 3 4 5
Q4. Which mode of transaction you mostly prefer?
*Cash
*Cards
*Payment wallets
Q5. How do you prefer to pay your utilities Bills?
*Cash
*Cards
*Payment wallets
Q6. How do you make payment for purchases of household consumables?
*Cash
*Cards
*Payment wallets

Q7. How do you make payment for purchases of luxury and Durable goods?

*Cash
*Cards
*Payment wallets
Q8. Which you consider more reliable?

*Cash
*Cards
*Payment wallets

Q9. Which can be carried and kept easy and has more life?

*Cash
*Cards
*Payment wallets

Q10. While travelling, according to you which is the preferred way of payment?

*Cash
*Cards
*Payment wallets
Q11. Which brand do you recall first when you think of payment wallets?
*Paytm
*Phonepe
*Mobikwik
*Google Pay
*other
Q12. Do you feel, there should be a cashless society in future?
*Yes
*No
Q13.If payment wallets are your first preference, then why?
*Time saving
*Ease of use
*Security
Q14.Do you think making India, a cashless society will uplift the standard of living?
*Yes
*No
*Maybe
Q 15. How did demonetization impact your usage behavior of online modes of payment?

*Was not making online payment before demonetization; I started making it after demonetization

*Was making online payment before demonetization also; but I increased its frequency after
demonetization
*Was not making online payment before demonetization; I am also not making it after
demonetization
*Was making online payment before demonetization also; I am making it after demonetization with
same frequency as before
Q16.Would you use mobile wallet if it's charged at some taken or facility fees? Or only if it's free?

*Yes
*No
*Maybe
Q17.Do you face any problem while using payment wallets?
*Yes
*No
*Sometimes

Q18.What kind of problems you faced with Payment wallets? (you can select more than one)
*Transaction Failure
*Duplicate Payment
*Auto Debit
*Security Breach
*Delayed Payment
*Long transaction time
Q19.Do you still feel that there are security issues with the payment wallets?
*Yes
*No
Q20. Rate the safety versus convenience as a factor for adopting Mobile Wallet

* Highly convenient and safe

*Highly convenient but risky

*Moderately convenient but safe

*Moderately convenient and risky too

*Inconvenient but safe

*Inconvenient and risky

*Neutral.

Q21. Would you want to continue payment wallets?

*Agree
*Strongly agree
*Disagree
*Strongly disagree
Q22. What further improvement would you like to see in these payment wallets?

*User experience
*security
*customer support
*Others, please specify__________