CONTENTS

SI. NO TITLE PG NO.

LIST OF TABLES 2

LIST OF CHART 3

1 INTRODUCTION 4-8

2 LITERATURE REVIEW 9-24

AND THEORETICAL
FRAMEWORK
3 ANALYSIS AND 25-41
INTERPRETATION

4 FINDINGS 42-45
,SUGGESTIONS AND
CONCLUSION

BIBLIOGRAPHY 46-48

APPENDIX 49-52

1
 LIST OF TABLES

SI. NO TITLE PG NO.

3.2.1 AGE CLASSIFICATION 26

3.2.2 GENDER WISE 28

CLASSIFICATION

3.2.3 ACADEMIC YEAR 29

CLASSIFICATION

3.2.4 FIELD OF STUDY 30

3.3.1 AWARENESS 31
OF E-WALLET

3.3.2 MOSTLY USED 32

E-WALLETS

3.3.3 CURRENTLY USED 33

E-WALLET

3.3.4 MOTIVES THE USAGE 34

OF E-WALLETS

3.4.1 FREQUENCY OF 35
USAGE (IN A WEEK)

3.4.2 MOST IMPORTANT 36

FEATURE IN
E-WALLETS

3.4.3 MORE CONVENIENCE 37

TO USE

3.5.1 THE LEVEL OF 38

SECURITY PROVIDED
BY E-WALLETS
3.5.2 MOST SAFEST 39
E-WALLET TYPE

3.6.1 SATISFACTION FROM 40

STUDENTS

3.7.1 SCAMMED THROUGH 41

E-WALLET

2
 LIST OF CHARTS

SI. NO TITLE PG NO.

3.2.1 AGE CLASSIFICATION 27

3.2.2 GENDER WISE 28

CLASSIFICATION

3.2.3 ACADEMIC YEAR 29

CLASSIFICATION

3.2.4 FIELD OF STUDY 30

3.3.1 AWARENESS 31
OF E-WALLET

3.3.2 MOSTLY USED 32

E-WALLETS

3.3.3 CURRENTLY USED 33

E-WALLET

3.3.4 MOTIVES THE USAGE 34

OF E-WALLETS

3.4.1 FREQUENCY OF 35
USAGE (IN A WEEK)

3.4.2 MOST IMPORTANT 36

FEATURE IN
E-WALLETS

3.4.3 MORE CONVENIENCE 37

TO USE

3.5.1 THE LEVEL OF 38

SECURITY PROVIDED
BY E-WALLETS

3.5.2 MOST SAFEST 39

E-WALLET TYPE

3.6.1 SATISFACTION FROM 40

STUDENTS

3.7.1 SCAMMED THROUGH 41

E-WALLET

3
 CHAPTER 1
INTRODUCTION

4
 A STUDY ON THE USE OF E-WALLET AMONG STUDENTS IN
GOVERNMENT COLLEGE KATTAPPANA

1.1 INTRODUCTION

An-wallet, short for electronic wallet, is a digital system that allows individuals to make
electronic transactions, storing payment information and passwords for multiple payment
methods. The concept of an e-wallet involves digitising the traditional physical wallet,
providing a secure and convenient way for users to make transactions, store payment
information, and manage their finances without the need for physical cash or cards.

E-wallets can store various types of information, including credit or debit card details, bank
account information, loyalty cards, and other personal identification data. When making a
transaction, the e-wallet securely transfers the necessary payment information to the vendor
without exposing the personal details of the user. The primary functions of an e-wallet
include making online purchases, transferring money electronically, and storing digital
versions of payment cards and identification documents. Some e-wallets also offer features
like budget tracking, transaction history, and the ability to split bills or make peer-to-peer
payments.

Overall, the concept of an e-wallet revolves around creating a digital platform that provides
secure, convenient, and efficient means for managing financial transactions and personal
payment information in the digital age.

1.2 SIGNIFICANCE OF THE STUDY

By using e-wallet numerous benefits are offered by apps to its users . According to change in
the globalised world our economy should be developed. There arises a need for updating
transactions .By looking into these it is important to know about the users satisfaction level of
e-wallet . There are different factors that havE significant influence in e-wallet. Passing to

5
such factors will reflect the major benefits delivered by it . The modern era most of them are
e-based ,so it is important to notice the awareness of e-wallet among different beneficiaries of
it. A cross checking of these may lead to enhancing experience of payment and transaction
methods .

1.3 STATEMENT OF THE PROBLEM:

E wallets have been introduced to facilitate banking transactions more conveniently and
easily .The college students are mostly using e-wallet facilities more than other peoples. It is
considered as an important aspect in online transactions.

A study on awareness on online transactions like E- wallet is being done by

Vidyashree DV, Yamuna N, Nithya Shree G (2015) in their study concluded that people in
more aware about online payments through mobile application and there is a wider increase
in growth rate and a study on the security of e-wallet is made by Dr. Sardar (2016) in their
study summarised that the most significant contributor in pushing cashless and electronic
payment overtime. Vthen mobile payment will represent a significant part of retail sales,
there should be interoperability between different wallets. As most of the respondents are
concerned about the security of mobile payment, the security system should be strengthened.
So the study was to examine the knowledge and awareness of e-wallet among college
students, the security concerns of students about e-wallet and impact of covid-19 on e-wallet
usage among college students.

1.4 OBJECTIVES OF THE CONCEPT

1. To examine the awareness and knowledge of college students on e- wallets.

2.To examine the scope of e- wallets in recent times.
3.To examine the security and safety of using e-wallet.
4.To examine the satisfaction of students using e- wallets.
5.To examine the frauds relating e - wallet system.

6
1.5 SCOPE OF THE STUDY:

In today's fast moving society people move to adopt more convenient and secure gadgets to
make their life more comfortable. The technology advancement has made the smartphones as
devices, where the mobile users. can make online transactions or payments by using an
application installed in the phone. To achieve this goal, there is an innovative product called
Digital wallet, also known as E-wallet. This research will investigate the college student
awareness and perception on E-wallets. The study is limited to the college students of
Government college Kattappana.

1.6 DATA AND METHODOLOGY:

The research is an exploratory study on financial inclusion based on both primary and
secondary data.

PRIMARY DATA:
The primary data were collected through questionnaire method and direct interview method.
A structured questionnaire was used for this purpose and it was prepared with utmost care
and attention.

A. POPULATION: The entire student's in Government college Kattappana.

B. SAMPLE UNIT:
Sample units are collected from the students who are studying in Government college
Kattappana.

C.SAMPLING TECHNIQUE: Sample size of people is taken by convenience sampling.

SECONDARY DATA:
The secondary data are collected from various books, journals, websites and other official
publications.

7
METHODOLOGY OF THE STUDY

The data collected is represented in the form of tables, charts and pie diagrams. These are
analysed by using various mathematical techniques and statistical tools like percentage
methods.

1.7 LIMITATIONS OF THE STUDY:

Response Bias: Participants may provide inaccurate information due to lack of

understanding of e-wallets.

Access to Technology: Not all college students may have access to smartphones or the
internet.

Language Barriers: Some students may have language barriers

Limited Scope: The study might focus solely on awareness rather than exploring deeper
aspects

1.8 Scheme of presentation

Chapter 1: INTRODUCTION
Chapter 2:REVIEW OF LITERATURE AND THEORETICAL
FRAMEWORK Chapter 3:ANALYSE AND INTERPRETATION OF DATA
Chapter 4:FINDINGS , SUGGESTIONS AND CONCLUSION

8
 CHAPTER 2
REVIEW OF LITERATURE AND THEORETICAL FRAMEWORK

9
2.1 Introduction

The review of literature is an essential component of research investigation which gives

necessary inputs for the research to frame the research study on the selected topic. The basic
objectives of this chapter is to analyse the previous findings so that it will know the gap in the
earlier studies and to justify the research problem selected by the researcher for the study
purpose.

Alwan Sri Kustono, Ardhya Yudistira Adi Nanggala, Imam MAS'UD (2020) This study
investigates factors influencing behavioural intentions to use E-wallet among college students
in Jember Regency, Indonesia, finding that perceived ease of use positively affects perceived
usefulness, which, in turn, influences attitude toward using e-wallets. Attitude is identified as
a crucial factor in behavioural intentions, while the quality of the e-wallet application doesn't
directly impact perceived usefulness.

Anushia Chelvarayan, Sook Fern Yeo, Han Hui Yi, Hazlaili Hashim(2022) These
studies explore factors influencing e-wallet adoption among university students in different
regions, emphasising aspects such as perceived usefulness, ease of use, trust, economic risk,
and privacy risk. Despite the popularity of mobile payments in Malaysia and high internet
penetration in Klang Valley, e-wallet adoption rates vary. The research provides insights for
e-wallet providers and stakeholders to enhance usage levels among university students.

Omar, P. U. (2020) research at Ungku Omar Polytechnic investigates factors influencing

e-wallet usage among 230 students. Using SPSS for analysis, the study finds that all
variables, particularly convenience, significantly influence students' e-wallet adoption,
highlighting positive relationships. The results suggest guidance for students in prudent e-
wallet usage and opportunities for service providers to enhance efficiency.

Ming, K. L. Y., Jais, M., Wen, C. C., & Zaidi, N. S. (2020).The study conducted in
Sarawak aimed to explore the factors influencing the adoption of E-wallet services. Through
a questionnaire with 26 questions, 450 feedbacks were obtained. Factor analysis was utilised
to construct variables, while Cronbach’s α coefficient assessed internal consistency
reliabilities. Regression analysis revealed that users are more likely to adopt E-wallet if they
perceive it as useful and easy to use. Additionally, rewards play a significant role in attracting

10
users, while higher perceived risk can deter adoption. These findings offer valuable insights
for E-wallet service providers to enhance their systems, emphasising security measures and
rewards to encourage adoption.

Nuryasman, M. N., & Warningsih, S. (2021)This study investigated how perceived

usefulness, perceived risk, and trust impact digital wallet usage intention among 138
undergraduate students at Tarumanagara University's Faculty of Economics and Business
who use ShopiPay. Data were collected through online questionnaires using purposive
sampling and analysed using Structural Equation Modelling (SEM) with SmartPLS software.
Results indicated that perceived usefulness and trust positively influenced usage intention,
while perceived risk did not have a significant effect.

Subaramaniam, K., Kolandaisamy, R., Jalil, A. B., & Kolandaisamy, I. (2020) The rapid
growth of internet users worldwide has led to a shift from cash payments to digital payments,
with e-wallets gaining prominence in the e-commerce market. While their popularity is
rising, their impact on users, both positive and negative, needs evaluation. Awareness
emerges as a crucial factor in mitigating the negative effects of e-wallet usage.

Trivedi, J. (2016) The 2011 Indian census highlighted India's youthful population, with
65% under 35 years old. Projections suggest Indian M Commerce could reach USD 19 billion
by 2019. Studies show that 70% of active mobile internet users are in the 18-35 age group
(Gen Y), indicating a strong potential for e-wallet adoption. Research has identified factors,
including perceived ease of use and usefulness, as key in driving e-wallet acceptance among
Gen Y, aligning with the Technology Acceptance Model (TAM).

Yang, M., Mamun, A. A., Mohiuddin, M., Nawi, N. C., & Zainol, N. R. (2021)This study
used the Unified Theory of Acceptance and Use of Technology (UTAUT) to examine factors
influencing e-wallet adoption among adults. It found that perceived usefulness, ease of use,
social influence, lifestyle compatibility, and trust positively impact e-wallet intention and
adoption. The intention to use an e-wallet mediated these relationships, while age and gender
moderated the effect of lifestyle compatibility on intention. The findings suggest strategies
for promoting e-wallet adoption in developing countries.

11
Singh, G. (2019).This paper investigates the adoption behaviour and impact of e-wallets on
daily transactions, addressing the need for simpler payment methods beyond traditional
banking services. Research suggests that the age group of 21-35 years predominantly uses e-
wallets for mobile recharges, bill payments, and more due to security, convenience, and NFC
scan-and-pay features. Additionally, gender does not show a significant relation to e-wallet
usage based on various studies.

Akhila Pai, H. (2018).The growth in digital payments in India is attributed to initiatives like
'Digital India' and increased mobile/internet usage. Despite digitalization's long standing
presence, recent growth is due to improved awareness, reduced fear of online payments, and
enhanced security. The proliferation of digital wallets has contributed to a more convenient
money transfer experience, driving consumer perception towards e-payment systems. This
study aims to evaluate consumer perception towards digital wallets using a questionnaire to
gather primary data for analysis and research objectives.

Rathore, H. S. (2016). In today-world, smartphones have become an essential part of daily

life. Due to technology, mobile users can nowadays use their smartphones to make money
transactions or payments by using applications installed in the phone. When smartphones can
function as leather wallets, it is called “Digital Wallet” or widely known as “Mobile Wallet”.
The present study tries to study the various factors that can affect a consumer’s decision to
adopt digital wallet as a mode of online payment. Apart from this, the study also attempts to
find out the various risks and challenges faced by users of digital wallets.

Vasantha, S., & Sarika, P. (2019).Purpose: Development of digitalisation in banking

services brought changes in the minds of customers to adopt different e-channels of banking
products and services. Adoption of mobile wallets may be influenced by the demographic
variables of customers. The study aims to understand the influence of demographic variables
on the factors of intention to use mobile wallets

Manikandan, S. J. J. M., & Jayakodi, J. M. (2017).Smartphones are crucial in daily life,

facilitating money transactions via wallet apps. A study explores factors influencing mobile
wallet adoption, risks users face, and collected data from 150 respondents analysed using
ANOVA for statistical insights.

12
Pachpande, B. R., & Kamble, A. A. (2018).E-wallets are electronic cards used for online
transactions, akin to credit or debit cards. They facilitate cashless transactions, reducing the
parallel economy's size and gaining popularity post-demonetization. Mobile wallets are
spreading widely, promising a bright future for cashless transactions.

Batra, R., & Kalra, N. (2016).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 concept

13
 THEORETICAL FRAMEWORK

2.2 DIFFERENT APP USED IN E-WALLET

There are numerous apps used for e-wallet purposes, each offering various features
and functionalities. Some popular e-wallet apps include:

PayPal:
PayPal allows users to send and receive money, make online payments, and store
payment details. It also offers a mobile app for convenience.

Apple Pay:
This app enables users to make contactless payments in stores, within apps, and on
the web using Apple devices.

Google Pay:
Google Pay allows users to make in-store and online payments, send money to
friends, and store loyalty cards and gift cards.

Venmo:
Venmo, owned by PayPal, is a peer-to-peer payment app that makes it easy to split
bills, pay friends, and shop online.

Cash App:
Cash App, operated by Square, provides features for sending, receiving, and
investing money, as well as the option to buy and sell Bitcoin.

Samsung Pay:
This mobile payment service works with Samsung devices and allows users to make
contactless payments and store membership and gift cards.

Zelle:

14
Zelle offers a quick way to send money to friends and family in the U.S. using only
their email address or U.S. mobile Certainly! In addition to the previously mentioned e-wallet
apps, here are some more examples of e-wallets commonly used for digital payments:

WeChat Pay:
Integrated within the WeChat messaging app, WeChat Pay allows users in China to
make mobile payments, send money to friends, and also offers the ability to pay bills
and make online purchases.

Alipay:
Operating as part of the Alibaba Group, Alipay is a popular e-wallet in China, offering
a wide range of services including digital payments, money transfers, and access to
investment products.

Paytm:
Paytm, based in India, provides services ranging from mobile recharges, bill
payments, and online shopping, to booking travel tickets and utility payments.

M-Pesa:
This mobile money service, initially launched in Kenya, allows users to deposit,
withdraw, and transfer money, as well as make payments for goods and services via a
mobile device.

Skrill:
Skrill is an e-wallet that allows users to send and receive money, make online
payments, and manage their digital finances.

Neteller:
Used for online money transfers, Neteller enables users to make secure transactions
and manage their account balance for online gambling, shopping, and other
transactions.

These examples showcase the diversity of e-wallet services available globally,

tailored to the specific needs and preferences of users in various regions and for different
types of transactions.

15
2.3 FEATURES OF E-WALLET

Digital Payments:
E-wallets enable users to make digital transactions for various purposes such as shopping, bill
payments, and peer-to-peer transfers.

Convenience:
Users can store multiple payment methods like credit/debit cards, bank accounts, and even
cryptocurrencies in one place, streamlining the payment process.

Security:
E-wallets employ encryption and authentication methods to safeguard user data and
transactions, offering a secure way to handle money digitally.

Accessibility:
E-wallets are accessible 24/7 through smartphones or computers, allowing users to manage
their finances anytime and anywhere with an internet connection.

Budgeting Tools:
Some e-wallets offer features like spending tracking, budgeting tools, and transaction
categorization to help users manage their money more effectively.

Rewards and Discounts:

Many e-wallets provide rewards, cashback, or discounts for using their services, incentivizing
users to adopt digital payment methods.

International Transactions:
E-wallets facilitate cross-border payments, making it easier and often cheaper to send money
internationally compared to traditional methods like bank transfers.

16
Integration with Other Services:
Some e-wallets integrate with other financial services, such as investment platforms, lending
services, or even ride-sharing apps, providing users with additional functionalities.

These features collectively make e-wallets a convenient, secure, and versatile tool for
managing financial transactions in the digital era.

2.4 IMPORTANCE OF THE E-WALLET:

Studying e-wallet usage among college students can provide insights into their financial
behaviours, foster financial literacy, and offer various advantages such as:

Convenience:
E-wallets streamline transactions, making it convenient for college students to manage
expenses, split bills, and make quick payments.

Financial Tracking:
E-wallets often come with features that allow users to track their spending patterns,
promoting better financial management and awareness among students.

Security:
Understanding how students use e-wallets can help assess the security features and potential
risks associated with digital transactions, contributing to improved financial safety.

Digital Literacy:
Researching e-wallet usage can contribute to enhancing digital literacy among college
students, a valuable skill in today's technology-driven world.

17
Financial Inclusion:
Studying e-wallet adoption can shed light on whether these digital tools contribute to
financial inclusion, ensuring that all students have access to convenient and secure financial
services.

Behavioural Insights:
Analysing e-wallet usage can reveal behavioural patterns, preferences, and attitudes towards
digital payments, aiding in the development of tailored financial education programs.

Technological Adoption:
Investigating e-wallet adoption among college students provides insights into their
willingness to adopt new technologies, which is crucial in understanding future trends.

Budgeting Practices:
E-wallet usage can provide data on how college students budget their money and whether
these tools assist in adhering to financial plans.

Partnerships and Collaborations:

The study may open avenues for partnerships between educational institutions and financial
service providers to enhance financial services on campus.

Policy Implications:
Findings from such studies can inform policymakers about the impact of digital payments on
the financial behaviour of college students, potentially influencing regulations or initiatives.

Overall, studying e-wallet usage among college students can yield valuable information with
implications for financial education, technology adoption, and policy decisions.

18
2.5 SCOPE OF E-WALLET

Convenience:
E-wallets offer users the convenience of making transactions anytime, anywhere, without the
need for physical cash or cards.

Financial Inclusion:
E-wallets can extend financial services to the unbanked or underbanked population,
promoting financial inclusion by providing access to digital payments.

Security:
With advanced encryption and authentication measures, e-wallets ensure secure transactions,
reducing the risks associated with carrying physical cash.

Cost-effectiveness:
E-wallet transactions often have lower transaction fees compared to traditional banking
methods, making them a cost-effective option for both consumers and businesses.

Integration with IoT and Wearables:

E-wallets are increasingly being integrated with IoT devices and wearables, allowing for
seamless and contactless transactions in various contexts, such as shopping, transportation,
and healthcare.

Cross-border Transactions:
E-wallets facilitate cross-border transactions, enabling individuals and businesses to send and
receive payments internationally with ease, thereby promoting global connectivity.

Data Insights:
E-wallets generate valuable data insights into consumer spending patterns and preferences,
which can be leveraged by businesses for targeted marketing and product development.

19
Innovation and Expansion:
The e-wallet industry is constantly evolving with innovations such as peer-to-peer payments,
QR code payments, and blockchain-based solutions, opening up new opportunities for growth
and expansion.

Government Initiatives:
Many governments are promoting e-wallet adoption as part of their digitization efforts,
offering incentives and regulatory support to foster a cashless economy.

Socio-economic Impact:
E-wallets can have a significant socio-economic impact by reducing the reliance on cash,
combating corruption, and promoting transparency in financial transactions.

2.6 ADVANTAGES OF THE E-WALLET

Convenience:
E-wallets offer a convenient way to store and access multiple payment methods
in one digital platform, reducing the need to carry physical cards or cash.

Speedy Transactions:
Transactions through e-wallets are often faster than traditional methods, providing
quick and efficient payments at the tap of a screen.

Security:
E-wallets employ encryption and authentication measures, enhancing the security of
financial transactions compared to carrying physical cash or cards that can be lost or
stolen.

Cost-Effective:
Many e-wallets have lower transaction fees compared to traditional banking services,
making them a cost-effective choice for everyday transactions.

20
Financial Tracking:
E-wallets offer detailed transaction histories, helping users track their spending
patterns and manage their finances more effectively.

Global Accessibility:
E-wallets often allow for international transactions, enabling users to make payments
or transfers across borders without the need for physical currency exchange.

Promotions and Rewards:

E-wallets frequently offer promotions, discounts, and rewards programs, providing
users with incentives for using the platform for their transactions.

Mobile Integration:
E-wallets seamlessly integrate with mobile devices, allowing users to make
payments, check balances, and manage their finances on the go.

Reduced Physical Contact:

Especially relevant in times of health concerns, e-wallets
reduce the need for physical contact during transactions, promoting a touch-free
payment experience.

Ease of Online Shopping:

E-wallets simplify online shopping by enabling swift and secure transactions,
eliminating the need to enter lengthy card details for each purchase.

2.7 LIMITATIONS OF E-WALLET:

Limited Merchant Acceptance:

Not all merchants or service providers accept e-wallets, restricting the user's ability to
use them universally.

21
Internet Dependency:
E-wallets typically require an internet connection for transactions, making them
inaccessible in areas with poor connectivity.

Security Concerns:
There are potential risks associated with hacking, unauthorised access, or fraudulent
activities, posing a threat to the security of funds stored in e-wallets.

Transaction Fees:
Some e-wallets may charge fees for transactions, particularly when transferring funds
to a bank account or making cross-border transactions.

Compatibility Issues:
Certain e-wallets may not be compatible with all devices or operating systems,
limiting their accessibility for users with specific devices.

Limited Cash Transactions:

E-wallets are primarily digital, which can be a drawback in scenarios where cash
transactions are still prevalent or required.

Dependency on Mobile Devices:

E-wallets heavily rely on smartphones or other electronic devices, excluding
individuals without access to such technologies.

Regulatory Challenges:
The regulatory environment for e-wallets can vary, leading to uncertainties
and potential changes that may affect their usage.

Loss of Device Risks:

If a user loses their mobile device or it gets stolen, there's a risk of unauthorised
access to their e-wallet, potentially resulting in financial loss

22
Limited Features for Some Wallets:
Certain e-wallets may offer only basic functionalities, lacking advanced features
available in traditional banking system

2.8 Security issues with e-wallets

Unauthorised Access:
Weak passwords or lack of two-factor authentication can lead to unauthorised access.

Data Breaches:
E-wallet providers may suffer data breaches, exposing users' personal information.

Malware and Phishing:

Users may fall victim to malware or phishing attacks, compromising their e-wallet
credentials.

Transaction Tampering:
Hackers may intercept and alter transactions, leading to financial loss.

Device Security:
If a user's device is compromised, it could result in e-wallet security risks.

Lost or Stolen Devices:

If a device with an e-wallet is lost or stolen,
unauthorised access becomes a concern.

Insecure Networks:
Using e-wallets on unsecured public Wi-Fi can expose transactions to potential
threats.

Insufficient Encryption:
Weak encryption methods may make it easier for attackers to access
sensitive information.

23
Identity Theft:
E-wallets may be targeted for identity theft, affecting users beyond financial loss.

Regulatory Compliance:
Non-compliance with security regulations can pose risks for both users and e-wallet
providers.

To mitigate these risks, users should employ strong pasrr audits, and
compliance with industry standards.

24
Chapter 3
Data Analysis And
Interpretation

25
3.1 Introduction

An e-wallet is a secure money management app or online platform that allows you to make
purchases with the retailers on site, transfer or send money and track reward programs. You
link the e-wallet to your bank account or pay as you wish with a prepay option. The utility of
an e-wallet is the same as a credit or debit card.It needs to be linked with the individual bank
account to make payments. The main objective of e-wallet is to make paperless money
transactions easier. The present study is to examine the awareness and knowledge of college
students on e-wallet in Idukki district.For the purpose of data analysis and interpretation
primary data was collected.

3.2 Basic details

Table 3.2.1 Age classification

Age No.of Respondents Percentage

18 3 4.91

19 11 18.03

20 33 54.09

21 10 16.39

22 4 6.55

Total 61 100

26
Figure 3.2.1 Age wise classification

This table and figure shows 4.9% of students are 18, 18% of students are 19,54.1% of
students are 20,16.4% of students are 21 and 6.6% of students are 22.

27
Table 3.2.2 Gender wise classification

Gender No.of Respondents Percentage

Male 37 60.7

Female 24 39.3

Others 0 0

Total 61 100

Figure 3.2.2 Gender wise classification

From the above table and figure it is clear that 60.7% of the respondents using e-wallet are
male and 39.3% are female.

28
Table 3.2.3 Academic year classification

Academic year No.of Respondents Percentage

1st Year 3 4.9

2nd Year 20 32.8

3rd Year 38 62.3

Total 61 100

Figure 3.2.3 Academic year classification

The above table and figure shows 4.9% of students in first year,32.8% of students in second
year,62.3% in third year.

Table 3.2.4 Field of study

29
Field of study No.of Respondents Percentage

Bcom 37 60.7

BA Economics 10 16.4

BA Malayalam 1 1.6

Integrated English 2 3.27

Bsc mathematics 4 6.55

Bsc chemistry 2 3.27

Bsc physics 5 8.2

Total 61 100

Figure 3.2.4 field of study

The above figure and table shows 60.7% in b com,16.4% in ba economics,1.6% in ba

malayalam,3.27% in integrated english,6.55% in bsc mathematics,3.27% in bsc chemistry
and 8.2% in bsc physics.

3.3 Awareness and knowledge

30
Table 3.3.1 awareness of e-wallet

No.of Respondents Percentage

Yes 57 93.4

No 4 6.6

Total 61 100

Figure 3.3.1 awareness of e-wallet

The above table shows only 93.4% of respondents are aware of e- wallets and the balance
6.6% are not aware.

31
Table 3.3.2 mostly used e-wallets

No.of Respondents Percentage

Gpay 42 68.85

Paytm 11 18.03

Phonepe 5 8.19

Others 3 5.88

Total 61 100

Figure 3.3.2 most used e-wallets

Above table shows 68.85% are using the g-pay,18.03% are using paytm, 8.19% are using
phonepe, 5.88% are coming under the other category.

Table 3.3.3 currently used e-wallets

32
 No.of Respondents Percentage

Yes 50 82

No 11 18

Total 61 100

Figure 3.3.3 currently used e-wallets

The figure shows 82% of students are currently using e-wallet and 18% of students are not
currently using e-wallet

Table 3.3.4 motives the use of e-wallets

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 No.of Respondents Percentage

Easy to use 19 31.14

Speed 5 8.19

Transactions 7 11.47

Safety / Security 4 6.55

Transparent 3 4.91

Convenience 5 8.19

Simple method 18 30

Total 61 100

Figure 3.3.4 motives the use of e-wallets

The above figure and tabler shows majority of 31.1% of respondents give
preference to e-wallets because of easy to use and 29.5% of respondents as it is
a simple method, 8.2%,11.47%, 6.5% 4.9%& 8.1 for speed, transactions ,safety
/ security and transparent .

3.4 Scope of e-wallets

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Table 3.4.1 frequent you use (in a week)

No.of Respondents Percentage

Below 10 41 67.2

10-20 13 21.3

20-30 5 8.2

More Than 30 2 3.3

Total 61 100

Figure 3.4.1 frequent you use (in a week)

From the table and figure it is clear that 67.2% of respondents use less than 10
times e-wallets in a week. 21.3, 8.2 and 3.2 uses e-wallets between 10-20,20-30
and 30-40 times in a week.

Table 3.4.2 most important feature in e-wallets

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 No.of Respondents Percentage

Easy to use 33 54.1

Security 5 8.2

Rewards 1 1.6

Mobile Payment 2 3.27

All of them 20 32.8

Total 61 100

Figure 3.4.2 most important feature in e-wallets

From the above table and figure 54 % of respondents make clear that the most
important feature of an e-wallet is easy to use, 8.2% for security features and
37.8% response for others.

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Table 3.4.3 more convenience to use

No.of Respondents Percentage

e-wallets 50 82

Traditional Payment method 11 18

Total 61 100

Figure 3.4.3 more convenience to use

From the above figure and table 82% of respondents support the e-wallet and
others(18%) believe it is more convenient to use traditional payment.

37
3.5 safety and security in using e-wallets

Table 3.5.1 The level of security provided by e wallet to you

No.of Respondents Percentage

Low level 3 4.9

Medium level 43 70.5

High level 15 24.6

Total 61 100

Figure 3.5.1 the level of security provided by the e-wallet

The above table and figure shows that 70.5% for medium level of
security,24.6% for high level of security and 4.9% for low level.

Table 3.5.2 most safest e-wallet type

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 No.of Respondents Percentage

Paytm 9 14.8

Google pay 47 77

mobikwik 1 1.63

Phonepe 2 3.27

Amazon pay 2 3.27

Others 0 0

Total 61 100

Figure 3.5.2 most safest e-wallet type

From the above table and figure shows that 77% respondents believe google pay
is safest,14% prefer paytm and others prefer amazon pay, phonepay and
mobikwik.

3.6 satisfaction of students

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Table 3.6.1 satisfaction from students

No.of Respondents Percentage

Yes 51 83.6
No 10 16.4
Total 61 100

Figure 3.6.1 satisfaction from students

From the above table and figure shows that 83.6% respondents are satisfied with the e-wallet
and others are not satisfied.

3.7 fraud relating e-wallet system

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Table 3.7.1 scammed through e-wallets

No.of Respondents Percentage

Yes 10 16.4
No 51 83.6
Total 61 100

Figure 3.7.1 scammed through e-wallet

From the above table and figure shows that 83.6% respondents are not scammed through
e-wallet and 16.4% are scammed.

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 CHAPTER 4
FINDINGS SUGGESTIONS AND CONCLUSION

42
4.1 Introduction

Authentication (such as fingerprint or facial recognition) and transaction alerts, adding layers
of security to the digital payment process. An e-wallet, short for electronic wallet, is a digital
version of a traditional wallet that allows users to store, manage, and transact money
electronically. Unlike physical wallets, which hold cash and cards, an e-wallet exists purely
in the digital realm, accessible through smartphones, computers, or other internet-enabled
devices. This modern financial tool has gained popularity due to its convenience, security
features, and the ability to streamline financial transactions.

One key advantage of e-wallets is their convenience. Users can store multiple payment
methods, such as credit cards, debit cards, and even cryptocurrencies, in a single digital
platform. This eliminates the need to carry multiple physical cards or remember various
account details. With just a few taps on their device, users can make payments, transfer
funds, pay bills, and even track their spending, all from the comfort of their fingertips.

Security is another major benefit of e-wallets. They employ advanced encryption

technologies and authentication methods to protect users' financial information and
transactions. Additionally, many e-wallet providers offer features like biometric security
measures to help build trust among users and encourage wider adoption of e-wallets as a
secure payment method.

4.2 FINDINGS

1.majority of respondents (93.4%)are aware of e-wallet.

2.google pay is the most used(68.85%) e-wallet.
3.majority of respondents(82%)currently use e-wallets.
4.The prime motives of respondents are easy to use (31.14%),simple
method(30%),speed,transaction,safe/secure and transparent .
5.The frequency of e wallet usage (in a week) below 10=67.2% ,10-20= 21.3%, 20-30=8.2%,
above30=3.3%
6. majority of respondent (54.1%)think that the most important feature of e wallet is easy to
use

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7.majority of respondent (82%) covenant to use e wallet than traditional method
8. 70% of respondent thinks that the security and safety provided by e wallet is in medium
level
9. majority of respondent (77%) considered G-pay is most safe e-wallet type
10. Majority of respondent (83.6%) satisfied with e-wallet use
11.16% of respondent got scammed by e wallet

4.3 SUGGESTIONS

Based on the findings of the study following suggestions are put forward

1.conduct more awareness programs with practical demonstration on e-wallet to establish the
application will be more user friendly and interactive to literate too.

2.Older people should be encouraged to do online payments providing sufficient information

3.conduct awareness programme in college to give more knowledge to student
4.Make e wallet more secure and safe by providing additional security features
5.Offer responsive customer support channels, such as live chat, email, or a dedicated
helpline, to address any issues or concerns students may have regarding their e-wallet usage.
6.Ensure that the e-wallet platform is accessible across various devices and operating
systems, including smartphones, tablets, and laptops, to cater to different
7.Provide discounts, cashback offers, or exclusive deals for using e-wallets at campus stores,
cafeterias, and events to encourage adoption.

8.Implement a feedback mechanism to gather input from students on their experience with
the e-wallet platform, allowing for continuous improvement and adaptation to their needs and
preferences

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4.4 CONCLUSION

In essence, the study reveals a favourable perception of E-wallet applications among

respondents, indicating high satisfaction levels with their usage. E-wallets are increasingly
accessible and recognized as a mainstream payment method. When selecting an e-wallet,
users prioritise time-saving, ease of use, and security as key features. Moreover, incentives
and benefits play a significant role in influencing customer preferences, alongside
convenience and peer recommendations

45
BIBLIOGRAPHY

Kustono, A. S., Nanggala, A. Y. A., & MAS'UD, I. (2020). Determinants of the use of e-
wallet for transaction payment among college students.

Chelvarayan, A., Yeo, S. F., Yi, H. H., & Hashim, H. (2022). E-wallet: a study on cashless
transactions among university students. F1000Research, 11.

Omar, P. U. (2020). Factors that influence the use of E-wallet among students. CURRENT
ISSUES IN ENTREPRENEURSHIP AND BUSINESS, 144.

Ming, K. L. Y., Jais, M., Wen, C. C., & Zaidi, N. S. (2020).Factor affecting adoption of E-
wallet in Sarawak. International Journal of Academic Research in Accounting, Finance and
Management Sciences, 10(2), 244-256.

Nuryasman, M. N., & Warningsih, S. (2021). Determining factors of digital wallet usage.
Jurnal Manajemen, 25(2), 271-289.

Subaramaniam, K., Kolandaisamy, R., Jalil, A. B., & Kolandaisamy, I. (2020). The impact of
E-Wallets for the current generation. J. Adv. Res. Dyn. Control Syst, 12(1), 751-759.

Trivedi, J. (2016). Factors determining the acceptance of e wallets. International Journal of

Applied Marketing and Management, 1(2), 42-53.

Yang, M., Mamun, A. A., Mohiuddin, M., Nawi, N. C., & Zainol, N. R. (2021). Cashless
transactions: A study on intention and adoption of e-wallets. Sustainability, 13(2), 831.

Singh, G. (2019). A review of factors affecting digital payments and adoption behaviour for
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89-96.

Akhila Pai, H. (2018). Study on consumer perception towards digital wallets. IJRAR, 3, 385-
391.

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 Rathore, H. S. (2016). Adoption of digital wallet by consumers. BVIMSR’s journal of
management research, 8(1), 69.

Vasantha, S., & Sarika, P. (2019). Empirical analysis of demographic factors affecting
intention to use mobile wallets. International Journal of Engineering and Advanced
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Manikandan, S. J. J. M., & Jayakodi, J. M. (2017). An empirical study on consumer adoption

of mobile wallet with special reference to Chennai city. International Journal of
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Pachpande, B. R., & Kamble, A. A. (2018). Study of e-wallet awareness and its usage in
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Websites ;

https://digitalindia gov in

https://digital.com/blog/mobile-payments

+https://www.merchantmaverick.com/mobile-payment-apps

http://www.quora.com/Which are the-best-payment-app-in

https://www.soleblogger.com/best-supe-payments-app-in-india

+http://www.icommercecentral.com/open-access/study of consumer perception of digital

payment mode

https://www.researchgate.net/publication

47
+https://digitalequality.in

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

https//www.digitalindiaportal.co.in

https://www.india gov.in/website digital india priągramme

48
APPENDIX

49
APPENDIX

A study on e-wallet usage among students in Government college Kattappana

Dear sir/ madam
This is purely academic purpose and the information provided by you will be kept
confidential.

Thank you

Interview schedule
1) Age
a) 18
b) 19
c) 20
d) 21
e) 22
2) Gender
a) Male
b) Female
c) Others
3) Academic year
a) 1-st year
b) 2-nd year
c) 3- rd year
4) Field of study
a) Bcom
b) BA Economics
c) BA Malayalam
d) Integrated English
e) Bsc mathematics
f) Bsc chemistry
g) Bsc physics
h) M com

50
 i) MA Economics
j) Msc chemistry

k) MA Malayalam
5) Are you aware of e-wallets?

a) Yes
b) No
6) Mostly used e-wallets
a) Gpay

b) Paytm
c) Phonepe
d) Others
7) Do you currently used any e-wallets
a) Yes
b) No
8) What motives are used for e-wallets?

a) Easy to Use
b) Speed
c) Transactions
d) Safety and Securities
e) Transparent
f) Convenience
g) Simple method
9) How frequent do you use (in a week)?

a) 1-10
b) 10-20
c) 20-30
d) More than 30 times
10) What features do you find most important in e-wallets?

a) Easy to use
b) Security
c) Rewards
d) mobile payments
e) all of them

51
11) Which is more convenient to use
a) E wallet
b) Traditional payment method
12) The level of security provided by e wallet to you
a) Low level
b) Medium level
c) High level
13) Which specific ewallet do you prefer most?

a) Paytm
b) Google pay
c) Mobikwik
d) Phonepe
e) Amazon pay
f) Others
14) Satisfaction of Usage of e-wallets
a) Yes
b) No
15) Are you scammed through e-wallets
a) Yes
b) No

52