“A STUDY ON ONLINE PAYMENT METHODS AMONG

COLLEGE STUDENTS WITH SPECIAL REFERENCE TO

CHRIST COLLEGE”

Project Report submitted to

UNIVERSITY OF CALICUT

In partial fulfillment of the requirement for the award of the degree of

BACHELOR OF COMMERCE

Submitted by

NAVYA E S
(CCASBCM098)

Under the supervision of

Ms. RAKHI .S

DEPARTMENT OF COMMERCE

CHRIST COLLEGE (AUTONOMOUS), IRINJALAKUDA

MARCH 2021
 CHRIST COLLEGE (AUTONOMOUS), IRINJALAKUDA

CALICUT UNIVERSITY

DEPARTMENT OF COMMERCE
CERTIFICATE

This is to certify that the project report entitled “A STUDY ON ONLINE

PAYMENT METHODS AMONG COLLEGE STUDENTS WITH
SPECIAL REFERENCE TO CHRIST COLLEGE” is a bonafide record of
project done by NAVYA E S, Reg. No. CCASBCM098, under my guidance and
supervision in partial fulfillment of the requirement for the award of the degree
of BACHELOR OF COMMERCE and it has not previously formed the basis for
any Degree, Diploma and Associateship or Fellowship.

Prof. K.J.JOSEPH Ms. RAKHI .S

Co-ordinator Project Guide
 DECLARATION

I, NAVYA E S, hereby declare that the project work entitled “A STUDY

ON ONLINE PAYMENT METHODS AMONG COLLEGE STUDENTS
WITH SPECIAL REFERENCE TO CHRIST COLLEGE” is a record of
independent and bonafide project work carried out by me under the supervision
and guidance of Ms. Rakhi .S, Assistant Professor, Department of Commerce,
Christ College, Irinjalakuda.

The information and data given in the report is authentic to the best of my
knowledge. The report has not been previously submitted for the award of any
Degree, Diploma, Associateship or other similar title of any other university or
institute.

Place: Irinjalakuda Navya E S

Date: 29/03/2021 CCASBCM098

 ACKNOWLEDGEMENT

I would like to take the opportunity to express my sincere gratitude to all people
who have helped me with sound advice and able guidance.

Above all, I express my eternal gratitude to the Lord Almighty under whose
divine guidance; I have been able to complete this work successfully.

I would like to express my sincere gratitude to Rev.Dr. Jolly Andrews, Principal-

in-Charge, Christ college Irinjalakuda for providing various facilities.

I am thankful to Prof. K.J.Joseph, Co-ordinator of B.Com (Finance), for

providing proper help and encouragement in the preparation of this report.

I am thankful to Prof.Lipin Raj K, Class teacher for his cordial support, valuable
information and guidance, which helped me in completing this task through
various stages.

I express my sincere gratitude to Ms.Rakhi .S, Assistant Professor, whose

guidance and support throughout the training period helped me to complete this
work successfully.

I would like to express my gratitude to all the faculties of the Department for
their interest and cooperation in this regard.

I extend my hearty gratitude to the librarian and other library staffs of my college
for their wholehearted cooperation.

I express my sincere thanks to my friends and family for their support in

completing this report successfully.
 TABLES OF CONTENTS

CHAPTER NO. CONTENTS PAGE NO:

LIST OF TABLES

LIST OF FIGURES

CHAPTER 1 INTRODUCTION 1–5

CHAPTER 2 REVIEW OF LITERATURE 6–9

THEORETICAL
CHAPTER 3 10 – 15
FRAMEWORK

DATA ANALYSIS AND

CHAPTER 4 16 – 36
INTERPRETATION

FINDINGS, SUGGESTIONS
CHAPTER 5 37 – 40
& CONCLUSION

BIBLOGRAPHY

ANNEXURE
 LIST OF TABLES

TABLE
TITLE PAGE NO:
NO:

4.1 Table showing respondents gender. 16

Table showing awareness about functionality of

4.2 17
e-wallets.

4.3 Table showing preference among e-wallets. 18

4.4 Table showing source of information about e-wallets. 19

Table showing use of e-wallets for financial

4.5 20
transactions.

Table showing reason for use of e-wallets over other

4.6 21
mode of payment.

4.7 Table showing convenient device for using e-wallets. 22

Table showing consideration of e-wallets against

4.8 23
other modes.

4.9 Table showing purpose of using e-wallets. 24

Table showing things to keep in mind while using

4.10 25
e-wallets.

4.11 Table showing e-wallets usage. 26

Table showing response to how often do they use

4.12 27
e-wallets.

Table showing presence of obstacles while using

4.13 28
e-wallets.

4.14 Table showing obstacles faced while using e-wallets. 29

4.15 Table showing e-wallet as a useful mode of payment. 30

4.16 Table showing attractive strategies of e-wallets. 31

Table showing whether e-wallets should be widely

4.17 32
available in India.

Table showing preference to continue using e-

4.18 33
wallets.

Table showing promotion of savings through e-

4.19 34
wallets.

Table showing satisfaction with the security of their

4.20 35
credentials.

Table showing whether the respondents will suggest

4.21 36
e-wallets to others.
 LIST OF CHARTS

FIGURE
TITLE PAGE NO:
NO:

4.1 Chart showing respondents gender. 16

Chart showing rate of awareness about functionality of

4.2 17
e-wallets.

4.3 Chart showing preference among e-wallets. 18

4.4 Chart showing source of information about e-wallets. 19

Chart showing use of e-wallets foe financial

4.5 20
transactions.

Chart showing reason for using e-wallet over other

4.6 21
modes of payment.

4.7 Chart showing convenient device for using e-wallets. 22

Chart showing consideration of e-wallets against other

4.8 23
payment methods.

4.9 Chart showing purpose of using e-wallets. 24

Chart showing things to keep in mind while using e-

4.10 25
wallets.

4.11 Chart showing e-wallets usage. 26

Chart showing response to how often do they use e-

4.12 27
wallets.

Chart showing presence of obstacles while using e-

4.13 28
wallets.

4.14 Chart showing obstacles faced while using e-wallets. 29

4.15 Chart showing e-wallet as a useful mode of payment. 30

4.16 Chart showing attractive strategies of e-wallets. 31

Chart showing whether e-wallets should be widely

4.17 32
available in India.

4.18 Chart showing preference of continue using e-wallets. 33

4.19 Chart showing promotion of savings through e-wallets. 34

Chart showing satisfaction with the security of their

4.20 35
credentials.

Chart showing whether the respondents will suggest e-

4.21 36
wallets to others.
 CHAPTER I
INTRODUCTION
1. Introduction

E-payment system is increasingly becoming a mode of payment in today’s

world. This is due to its efficiency, convenience and timeliness. This system
facilitates the acceptance of electronic payment for online transactions. E-
payment have become popular due to the widespread use of the internet
based shopping and banking. Cashless payments for monetary transactions
can be done through E-payment. India has seen a phenomenal increase in the
number of E-payment users. It helps in carrying out transactions in a quick
and easy way.

Despite the use of money as a medium for the exchange of goods and
services,
E-payment has been a convenient mode of exchanging goods and services.
E-payment systems were not introduced to replace cash but as an alternative
to cash. There are many methods available for making online payment and
students are also making payment through e-payment rather than cash
payments as it is easy to carry out transactions online.

Students usually make mobile payments for e-payment as most of them are
carrying their mobile phones often and it is the most suitable mode for them
to make payment. The education system is also moving towards online
payment and every transactions is being carried out online. Many online
payment modes are available which enables simple and fast payments. This
payment method is available for all devices (mobile phones and computer),
irrespective of the operating system and web browser. Google pay, Amazon
pay, Paytm and Phonepe are some of the popular mobile payments app in
India. The free apps allows you to send and receive money and also pay
utilities bills on the go.
1.1 Statement of the problem

Youth is shifting towards enthusiasm, energy, education, enjoyment. They

should not take enjoyment as first and rest of the things as last. Now a day’s most
of the students consider vital things as first and enjoyment as last due to
awareness, Technology up-date, Education and Socio-Cultural groups. This
study has been conducted in order to understand how the online payments have
found a way in to the world of youth. The youth is the future, therefore the
decisions they make today affects tomorrow.

The study titled “A study on online payment methods among college students
with special reference to Christ College Irinjalakuda” is conducted to understand
the reachability of e-payment among students and its satisfaction level.

1.2 Scope of the study

The study is focused on use of online payment methods among Christ college
students. It is highly relevant topic in present scenario. Students with e-payment
apps set up on their mobile phones will present the phones to near field
communication enabled readers on campus to complete transactions. This study
mainly emphasized on college students, their use, acceptance and satisfaction.

1.3 Significance of the study

The traditional methods of payment have now been replaced by e-payment

mechanism because of its wide use. It is used in many areas like shopping,
movie ticket booking, fee payment, mobile recharging, bill payment etc. All
these uses attract students as their day to day activities gets more improved and
a lot easier. A lot of technological advancements have been taking place in the
field of payment. So it is very useful to know about the new trends and
advancements in payment mechanism. It is also important that the young
generation are aware about these new trends. It is also necessary to study about
different methods of E-payment so that we can have an idea about E-payment
system.

1.4 Objectives of the study

 To analyze the attitude of youngsters towards e-payment system.

 To understand the useage, acceptance and satisfaction level of e-payment
among students.
 To identify whether there is an ease of payment among the users.
 To analyze the various categories and potential uses of e-payment
mechanism.

1.5 Research Design

1.5.1 Nature of the study

The study is descriptive as well as analytical in nature.

1.5.2 Nature of Data

Both primary and secondary data are collected for the purpose of the
study.
1.5.3 Sources of Data

1. Primary Data: It is the original data collected from the respondents.

This was collected through questionnaire.
2. Secondary Data: It includes both internal and external sources. Internal
data are not included in this project as it is the data that are available from
the organization, while external were magazines, textbooks from websites
etc.

1.6 Sample Design

1.6.1 Nature of Population

The population is finite.
1.6.2 Sample Size
The sample size of the study is 60 respondents.
1.6.3 Sample Unit
Each and every students of Christ College.
1.6.4 Sample Method

Convenience sampling
1.7 Tools for Analysis

 Pre-structured questionnaire is used for data collection.

 Percentage and comparative analysis has been used.
 Tables, charts and diagrams are used for presentations.
1.8 Limitations of the study

 The sample size and spectrum of respondents is limited.

 Samples taken may be biased.
 The study is limited to Christ College students only.
 Due to COVID 19 pandemic, direct data collection was not possible.

1.9 Chapterisation

Chapter 1 – Introduction
This chapter contains a description of introduction, statements of the
problem, objectives of the study, scope and significance, research design
adopted, tools for analysis and limitations of the study.
Chapter 2 – Review of literature
This chapter presents Introduction, Conceptual review and Empirical
Literature. This deals with the review of the literature.
Chapter 3 – Theoretical framework
This chapter presents Introduction and theoretical review of E-payment
methods.
Chapter 4 – Data analysis and interpretation
This chapter presents Introduction, data analysis and interpretation. This
deals with the analysis of the primary data through the tables and graphs with
their interpretation.
Chapter 5 – Findings, suggestions and conclusions
This is the concluding chapter of the study. It draws on the major findings
and concludes with a few suggestions.
 CHAPTER II
REVIEW OF LITERATURE
2.1 Introduction

Review of literature mainly focuses on previous studies conducted on online

payment methods among college students. This will help in avoiding duplication
and also expand the understanding of the business project. It helps to know the
background of our topic.

2.2 Empirical Literature

Ahuja & Joshi (2018) have studied 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.

Singh & Gupta (2016) 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. Person’s
Correlation Analysis was to investigate the relationship between the different
basic varables of the study. The study findings show that mobile wallets are
considerd as the futures of cash.

Meuthia (2015) the study has been investigated that empirically the
experiences of user’s satisfaction on e-money adoption in Indonesia. In this
study the trust was considered as an important factor for e-money adopt, and at
the time of promotes the system quality and participation. The data was
collected from 117 e-money respondents in Indonesia. The result shows that
user’s satisfaction is determined
based on system quality and participation of users. The research proposed that
trust factors have high level followed by others stimulants variables. The study
concluded that trust and distrust were strongly influenced the level of user’s
satisfaction on e-money adoption in Indonesia.

Doan (2014) he conducted a study to understand consumer adoption on mobile

wallets in Finland area. This research was designed in a quantitative method
using questionnaire which was sent to potential respondents in Finland. The
study measures the market condition of mobile wallets users. The study findings
reveal that the usage of mobile wallet is only in the initial stage and respondents
are showing positive attitudes towards usage of mobile wallets. Research
concluded that the trust factor reveals the positive or negative impact on adoption
of user, depending on the user satisfaction and user’s situation.

Dustin Odom Odom et al (2014) in his comparative study of smartphone users

perception and preference towards mobile payment methods in the US and
Korea, as the smartphone adoption rate increases, Smartphone users pay more
attention to mobile payment. There are several options for mobile payment but
there is no dominate method. Proximity mobile payment is the newest form of
mobile payment. Security, cost, and convenience are three main factors
Smartphone users keep in mind when making a mobile payment. The paper
investigated Smartphone users perceptions and preferences toward mobile
payment methods in Korea and the USA. Smartphone users have a willingness
to pay more for a secure mobile payment transaction, even though Korean users
have more experience in the mobile payment frequency. Among the three
factors, mobile security is the factor of strongest influence on mobile payment
frequency in both countries.
David Boldt et al (2011) in his survey conducted on payment methods and
practices among college students, the results of the survey that they developed
was to introduce students to these and other changes in payment technologies.
The survey can be used to encourage more discussion when history of money,
types of money, or monetary aggregates are introduced. Technological
innovations have changed the way we pay for goods and services. While cash
and cheques are still popular, the degree to which we use paper-based payment
methods is steadily declining. Most notably, in the last few years we have begun
to rely heavily on electronic payment options including credit and debit cards,
online bill payments, and e-money. Near field communication technology, such
as cell phones, appears to be the next big step big step in this rapidly changing
filed.

Palaka et al. (2010) presented a model for peer to peer e-commerce transactions
with decentralized approach focusing on the reliability issues of centralized
payment systems offered by Internet e-commerce websites such as e-bay and
Amazon. They argued that a centralized architecture though more secure, was
prone to disaster amidst a single point of failure. It also posed problems of
bandwidth thereby limiting their scalability.

Cobb (2004) according to him the value of electronic payment was way beyond
the immediate convenience and safety of cards, contributing to a great extent to
the overall economic development.

Lee et al. (2004) in his study said that since digital money could trace double
spending, and double spending protects content by exposing the double
spender’s identity, digital cash was a fool proof way of guarding against illegal
redistribution of intellectual property and materials.
Humphery et al. (2001) in his research concluded that the introduction and use
of electronic payment instruments held the promise of broad benefit to both
business and consumers in the form of reduced costs, greater convenience and
more secure, reliable means of payment and settlement for a potentially vast
range of goods and services offered worldwide over the internet or other
electronic networks.
 CHAPTER III

THEORETICAL FRAMEWORK
3.1 Introduction

E-payment

Electronic payment also known as e-payment is a system that permits online

payment between parties using an electronic substitute of a financial tender.

E-payment systems have become increasingly popular due to the widespread use
of the internet based shopping and banking. There are numerous different
payment systems available for online transactions. These include the traditional
credit, debit, and other cards also new technologies such as digital wallets, e-
cash and mobile payments.

Digital Payment

Digital payment has become one of the famous and modern technology which is
widely used in this current period. This is the best alternative to avoid any
obstacle regarding payments and all the other activities like the shopping,
recharge, and other wallet payments. Internet is a very important source of life
in this modern era in order to survive modernization along with digital payment
is necessary. Digital payments are now done through digital wallets also known
as “e-wallet” that allows one party to make to make electronic transactions with
another party bartering digital currency units for goods and services. There are
mainly three types of digital wallets and they are closed wallet, semi-closed
wallet, and open wallet.

New Era in Digital Wallets

Amazon pay, Paytm, PhonePe and Google pay are digital wallet platforms and
online payment system developed by Amazon, Vijay Shekhar Sharma and
Sameer Nigam and by Google to power in-app and tap-to-pay purchases on
mobile devices, enabling users to make payments with Android phones, tablets
or watches. To use these you will need NFC- enabled Android device running
Lollipop 5.0 or higher for in-store purchases.
History

Amazon Pay: Amazon Pay is an online payments processing service that is

owned by Amazon, launched in 2007. Amazon Pay uses the consumer base of
Amazon.com and focuses on giving users the option to pay with their Amazon
accounts on external merchant websites. Amazon has pulled the curtains on its
Flexible Payment Service (FPS) and launched it in limited beta. FPS is not so
much a consumer payment solution with heavy marketing but more a payment
platform that can be used by developers to build payment solutions in the spirit
of Amazon’s S3 storage product (e-Commerce enabler).

It offers send and receive money using credit card, bank account, or Amazon
Payments balance transfer as payment methods. It also create “Payment
Instructions” to define conditions and constraints desired for a given transaction,
and programmatically obtain payment authorizations or “tokens” that represent
these Payment Instructions from customers. It also execute one-time, multiple,
or recurring payments on behalf of customers. Aggregate micro-transactions into
a single large transaction using Prepaid and Postpaid capabilities. It has also
build payment applications where you are neither the sender nor the recipient of
funds. You can build marketplace applications that enable the movement of
money between two third parties. We can also view account balances, transaction
histories, and transaction details on the Amazon Payments website. FPS has to
be integrated into a shopping cart to be available to buyers as a payment option
and as such it does not compete against other payment modes. Amazon is one of
the strongest online brands with immediate trust and millions of registered users
that have probably successfully bought something on Amazon without worry.
As a payment platform, however, Amazon has taken a leadership role with FPS.
We are likely to see new business models emerge and niche payment problems
solved in particular micro-payments.
Paytm: Paytm was founded in August 2010 with an initial investment of $2
million by its founder Vijay Sharma in Noida, a region adjacent to India’s capital
New Delhi. It started off as a prepaid mobile and DTH recharge platform, and
later added data card, postpaid mobile and landline bill payments in 2013.

By January 2014, the company had launched the Patym wallet, which the Indian
Railways and Uber added as a payment option. It launched into e-commerce with
online deals and bus ticketing. In 2015, it unveiled more use-cases like education
fees, metro recharges, electricity, gas, and water bill payments. It also started
powering the payment gateway for Indian Railways.

In 2016, Paytm launched movies, events, and amusement parks ticketing as well
as flight ticket bookings and Paytm QR. Later that year, it launched rail bookings
and gift cards.

Paytm’s registered user base grew from 11.8 million in August 2014 to 104
million in August 2015. Its travel business crossed $500 million in annualized
GMV run rate, with 2 million tickets booked per month.

In 2017, Paytm became India’s first payment app to cross over 100 million app
downloads. The same year it launched Patym Gold, a product that allowed users
to buy as little as Rs1 of pure gold online. It also launched Paytm Payments Bank
and ‘inbox’, a messaging platform with in-chat payments among other products.
By 2018, it started allowing merchants to track their payments and day-to-day
settlements instantly. This led its merchant base to grow to more than 7 million
by March 2018.

The company launched two new wealth management products – Paytm Gold
Savings Plan and Gold Gifting to simplify long-term savings. In January 2018,
Paytm entered into a joint venture with Alibaba Group-owned gaming company
AGTech Holdings to launch Gamepind, a mobile gaming platform. Gamepind
was later rebranded as Paytm First Games in June 2019.
In March 2018, Paytm Money was setup with an investment of 9 crore to bring
investment and wealth management products for Indians. In March 2019, Paytm
launched a subscription based loyalty program called Paytm First.

In May 2019, Paytm partnered with Citibank to launch Paytm First credit card.

In July 2020, Tata Starbucks partnered with Paytm allowing its customers to
order food online during a coronavirus (COVID-19) pandemic.

PhonePe: FxMart received its license to operate on 26 August 2014. PhonePe

was incorporated in December 2015. In April 2016, the company was acquired
by Flipkart. And as a part of the Flipkart acquisition, the FxMart license was
transferred to PhonPe and it was rebranded as the PhonePe wallet. PhonepPe’s
founder Sameer Nigam was appointed as the CEO of the company.

In August 2016, the company partnered with Yes Bank to launch a UPI-based
mobile payment app, based on the government-backed UPI platform.

Within 3 months of launch, the app was downloaded by over 10 million users.
In 2018, PhonePe also became the fastest Indian payment app to get a 50 million
badge on the Google play store. The PhonePe app overtook BHIM to emerge as
the market leader in UPI transactions in August 2017.

Google Pay: originally launched as Android Pay, the service was released at
Google 2015. Android Pay was a successor to and built on the base established
by Google Wallet which was released in 2011. It also used technology from the
carrier-backed Soft card. Google had acquired its intellectual property in
February 2015. At launch, the service was compatible with 70% merchants.
Google Wallet

still powered web-based Play Store purchases and some app-based peer-to-peer
payments, for instance in Gmail.
In 2016, Google began a public trial in Silicon Valley of a related mobile app
called Hands Free. In this system, the customer does not need to present a phone
or card. Instead a customer announces they wish to “pay with google” and give
their initials to the cashier, who verifies their identity with a photo previously
uploaded to the system. The customer’s phone will only authorize payment if its
geographic location system indicates it is near a participating store.

On September 18 2017, Google launched an UPI-based app Tez in India. On

August 28 2018, Google rebranded Tez to Google Pay.

On January 8 2018, Google announced that Google Wallet would be merged into
Android pay, with the services as a whole rebranded as Google Pay. This merger
extends the platform into web-based payments integrated into other Google and
third-party services. The rebranding began to roll out as an update to the Android
Pay app on February 20, 2018. The app was given an updated design and now
displays a personalized list of nearby stores which support Google Pay.

On December 21 2018, Google Payment, obtained an e-money license in

Lithuania – the license will Google to process payments, issues money, and
handle electronic money wallets in the EU.
Advantages and Disadvantages of using E-payment

E-payment is something that allows people to pay for things through their
phones, rather than through a credit card or cash. Advantages and Disadvantages
of the application are listed below.

Advantages

• Faster to pay for things

• Very secure

• Eliminates the need for some to carry around a wallet

• Easy to use

• Free to use.

Disadvantages

• Having virtual money source may encourage people to spend more than they
have.

• One would have to take his or her phone out more often to pay for things

• People are more likely to glance over and steal your pin number

• It’s not usable at every single store

• It doesn’t work with some credit cards.

 CHAPTER IV

DATA ANALYSIS AND

INTERPRETATION
Data Analysis and Interpretation

Data analysis is a process for obtaining raw data and converting it into
information useful for decision making by user.

Table 4.1: Showing Respondent’s Gender.

Gender No. of Respondents Percentage

Male 23 38%
Female 37 62%
Total 60 100%
Source: Primary data

The table and graph shows the gender classification of respondent 38% of
respondents are male and also seen that 62% of respondents are female.

Chart 4.1: Chart showing Respondent’s Gender.

38%

Male
Female

62%
Table 4.2: Table Showing Awareness about Functionality of E-
wallets.

Rate of Awareness No. of Respondents Percentage

Aware 40 67%
Partially Aware 16 27%
Fully Aware 3 5%
Not Aware 1 1%
Total 60 100%
Source: Primary data

From the table and data, it shows the awareness level about the
functionality of E-wallets. Here 67% of the persons are aware about its
functionality and 27% of them are partially aware, 5% of them are fully
aware, at last 1% are not at all aware about E-wallets functionality.

Chart 4.2: Chart showing Rate of Awareness about Functionality of

E-wallets.
Fully Aware Not Aware
5% 1%

Partially Aware
27%

Aware
67%

Aware Partially Aware Fully Aware Not Aware

Table 4.3: Table Showing Preference among E-wallets.

E-wallets No. of Respondents Percentage

Google Pay 50 83%
Phone Pay 5 8%
Paytm 4 7%
Amazon Pay 1 2%
Total 60 100%
Source: Primary data

In the Table and Figure it is understandable that 83% of respondents prefer

Google pay, 8% prefer Phone Pay, 7% prefer Paytm and the least preferred
app is Amazon Pay with 2%.

Chart 4.3: Chart Showing Preference among E-wallets.

4 2%

3 7%

2 8%

1 83%

0% 10% 20% 30% 40% 50% 60% 70% 80% 90%

Table 4.4: Table showing Source of Information about E-wallets.
Source of Information No. of Respondents Percentage
Friends 37 62%
Social Media 13 22%
Advertisements 9 15%
Magazine/Television 1 1%
Total 60 100%
Source: Primary data

From the table and figure more than half of the respondents got the
information about e-wallets from their friends 62%. Social Media has a
role in 22% of respondents, 15% from Advertisements and the remaining
1% got information from Magazines/Television.

Chart 4.4: Chart Showing Source of Information about E-wallets.

70% 62%
60%
50%
40%
30%
22%
20%
15%
10%
0%
1%
Friends
Social Media
Advertisements
Magazine/Television
Table 4.5: Table showing Use of E-wallets for Financial Transactions.

Useful or not No. of Respondents Percentage

Yes 55 92%
No 5 8%
Total 60 100%
Source: Primary data

From the data it is understandable that 92% of the respondent’s use E-

wallets for financial transactions and the remaining 8% do not use them for
financial transactions.

Chart 4.5: Chart showing Use of E-wallets for Financial

Transactions.

8%

Yes
No

92%
Table 4.6: Table showing reason for use of E-wallets over other mode
of payment.

Reasons No. of Respondents Percentage

Ease of use 39 65%
Time saving 16 27%
Security 3 5%
Wide acceptability 2 3%
Total 60 100%
Source: Primary data

From the above data it is clear that people prefer something which is ease
of use. The data shows 27% looks for time saving, 5% looks for security
and 3% for wide acceptability respectively.

Chart 4.6: Chart showing reason for use of E-wallet over other
modes of payment.

Wide acceptability 3%

Security 5%
REASONS

Time saving 27%

Ease of use 65%

0% 10% 20% 30% 40% 50% 60% 70%

PERCENTAGE
Table 4.7: Table showing convenient device for using E-wallets.

Devices No. of Respondents Percentage

Smart phone 52 87%
Computer 1 1%
All of the above 7 12%
Total 60 100%
Source: Primary data

From the table and figure 87% of the respondents prefer smartphones in
order to use E-wallets while 12% prefer both smartphone and computer,
only 1% prefer computer alone in order to use E-wallets.

Chart 4.7: Chart showing convenient device for using E-wallets.

All of the above,

12%
Computer, 1%

Smart phone, 87%

Table 4.8: Table showing consideration of E-wallets against other
methods.

Considerations No. of Respondents Percentage

Quick Transfer 46 77%
Alternate choice 8 13%
Exciting rewards 6 10%
More secure 0 0%
Total 60 100%
Source: Primary data

From the table and figure, it is understandable that 77% of respondents

consider E-wallets for quick transfer, 13% consider it as an alternate choice
and 10% for receiving exciting rewards.

Chart 4.8: Chart showing consideration of E-wallets against other

payment methods.

90%

80%
77%
70%

60%

50% Quick transfer

Alternate choice
40%
Exciting rewards
30%

20%
13%
10% 10%

0%
0 0.5 1 1.5 2 2.5 3 3.5
Table 4.9: Table showing purpose of using E-wallets.

Purpose No. of respondents Percentage

Money transfer 8 13%
Recharge 3 5%
Utility and Bill payment 0 0%
All of the above 49 82%
Total 60 100%
Source: Primary data

Both the table and figure makes us aware that most of the respondents use
E-wallets for all these uses mentioned above. E-wallet is an all in one
wallet.

Chart 4.9: Chart showing purpose of using E-wallets.

90%
82%
80%
70%
60%
50%
40%
30%
20%
13%
10% 0% 5%
0%
Utility and
Recharge
Bill Money
payment transfer All of the
above
Table 4.10: Table showing things to keep in mind while using E-
wallets.

Things to keep in mind No. of respondents Percentage

Rewards 27 45%
Cash back 15 25%
Premium offers 10 17%
Available discounts 8 13%
Total 60 100%
Source: Primary data

From the data, we can understand that 45% of the respondents looks for
rewards, 25% looks for cash back, 17% looks for premium offers and 13%
looks for discounts available which is the least of them.

Chart 4.10: Chart showing things to keep in mind while using E-

wallet.

45%
40%
35%
30%
25% 45%
20%
15% 25%
10% 17%
13%
5%
0%
Rewards Cash back Premium offers Available
discounts
Table 4.11: Table showing E-wallets usage.

Times used No. of respondents Percentage

Only once 5 8%
5-10 times 15 25%
10-15 times 4 7%
More than 15 times 36 60%
Total 60 100%
Source: Primary data

The table and chart shows the times that the respondents have used E-
wallets. About 60% of them have used more than 15 times and the
remaining have used 10-15times, 5-10 times. Every respondents have used
E-wallets more than once.

Chart 4.11: Chart showing E-wallets usage.

70%

60%
60%

50%

40%

30%
25%

20%

10% 7% 8%

0%
more than 15 times 10-15 times 5-10 times only once
Table 4.12: Table showing response to how often do they use E-
wallets.

Recurrence No. of Respondents Percentage

Daily 6 10%
Weekly 23 38%

Monthly 26 44%

Yearly 5 8%
Total 60 100%
Source: Primary data

In the table and chart about 44% of them use E-wallets monthly, 38% of
them use it weekly and 10% use it daily, at last 8% uses it once in a year.

Chart 4.12: Chart showing response to how often do they use E-

wallets.

Yearly 8%

Daily 10%

Weekly
38%

Monthly
44%
0%
10%
20%
30%
40%
50%
Table 4.13: Table showing presence of obstacles while using E-
wallets.

Yes or No No. of Respondents Percentage

Yes 36 60%

No 24 40%

Total 60 100%
Source: Primary data

From the above data, 40% of the respondents says that there is no obstacles
while the remaining 60% of them says there is an obstacle while using E-
wallets.

Chart 4.13: Chart showing presence of obstacles while using E-

wallets.

40%

60%

yes no
Table 4.14: Table showing obstacles faced while using E-wallets.

Obstacles No. of Respondents Percentage

Security of mobile payment 23 38%
Too much time consuming to set up 8 13%
Involves danger of losing money 19 32%
Cannot be used for international transaction 10 17%
Total 60 100%
Source: Primary
data

The data shows us that 59% of the people sees that it cannot be used for
international transaction, 19% is confused with the security of mobile
payment, 16% fear of losing money and 6% sees the setting up of E-wallets
is time consuming.

Chart 4.14: Chart showing obstacles faced while using E-wallets.

Security of mobile
payment
19%
Cannot be used for
international
transaction Too much time
59% consuming to set
up
6%

Involves danger of
losing money
16%
Table 4.15: Table showing E-wallet as a useful mode of payment.

Useful or Not No. of Respondents Percentage

Strongly disagree 1 2%
Disagree 3 5%
Neutral 12 20%
Agree 36 60%
Strongly agree 8 13%
Total 60 100%
Source: Primary data

From the table and figure it is understandable that 60% among the samples
agree that E-wallet is a useful mode of payment 13% strongly agree, 20%
is in a neutral feedback, 5% disagree and the remaining 2% strongly
disagree.

Chart 4.15: Chart showing E-wallet as a useful mode of payment.

60%
60%
50%
40%
30% 20%
20% 13%
2% 5%
10%
0%
Strongly Disagree Neutral Agree Strongly
disagree agree
Table 4.16: Table showing attractive strategies of E-wallets.

Strategies No. of Respondents Percentage

Scratch card and cash back 23 39%
Diwali offer and Welcome 2021offer 5 8%
Chat option inside E-wallets 2 3%
All of the above 30 50%
Total 60 100%
Source: Primary data

From the data shown, 50% agrees that every options attract users, 39%
thinks scratch card and cashback is the main strategy, while 8% Diwali and
welcome offer and 3% thinks chat option inside E-wallets as the best
strategy.

Chart 4.16: Chart showing attractive strategies of E-wallets.

60%

50%
50%

40%
39%

30%

20%

10%

8%
3%
0%
scratch card and cash back diwali offer and welcome chat option inside E- all of the above
2021 offer wallets
Table 4.17: Table showing whether E-wallets should be widely
available in India.

Available or Not No. of Respondents Percentage

Yes 43 72%
No 2 3%
Maybe 15 25%
Total 60 100%
Source: Primary data

The above data shows that 72% of the respondents in the sample population
prefers E-wallets to be widely available in India, 25% thinks maybe it
should be available and only 3% thinks that it shouldn’t be widely available
in India.

Chart 4.17: Chart showing whether E-wallets should be widely

available in India.

25%

Yes
No
3%
Maybe

72%
Table 4.18: Table showing preference to continue using E-wallets.

Scale No. of Respondents Percentage

Very likely 20 33%
Likely 32 53%
Neutral 7 12%
Unlikely 0 0%
Very unlikely 1 2%
Total 60 100%
Source: Primary data

From the data it is clear that only 2% totally reject to continue using E-
wallets, 12% of them seems neutral, 33% of the respondents very likely
continue using E-wallets and 53% likely to continue using E-wallets.

Chart 4.18: Chart showing preference of continue using E-wallets.

very unlikely

[PERCENTAGE]

neutral 12%

likely 53%

very likely 33%

0% 10% 20% 30% 40% 50% 60%

Table 4.19: Table showing promotion of savings through E-wallets.

Promote or Not No. of Respondents Percentage

Yes, very much 10 17%
Up to a certain level 35 58%
Not at all 15 25%
Total 60 100%
Source: Primary data

The table and figure gives us an outline of whether E-wallets promote

savings or not. Here 58% of the respondents says that it promotes savings
up to a certain level, 25% says that it does not promote savings at all and
17% of the respondents saves money using E-wallets.

Chart 4.19: Chart showing promotion of savings through E-wallets.

17%

Upto a certain level

Not at all
Yes, very much
25% 58%
Table 4.20: Table showing satisfaction with the security of their
credentials.

Yes or No No. of Respondents Percentage

Yes 48 80%
No 12 20%
Total 60 100%
Source: Primary data

From the data it is clear that 80% of the respondents are satisfied with the
security of their credentials and the remaining 20% are not satisfied with
the security of their credentials.

Chart 4.20: Chart showing satisfaction with the security of their

credentials.

No
20%

Yes
80%
Table 4.21: Table showing whether the respondents will suggest

E-wallets to others.

Scale No. of Respondents Percentage

Yes 48 80%
No 1 2%
Maybe 11 18%
Total 60 100%
Source: Primary data

From the data it is clear that 80% of the respondents in the sample
population are interested in sharing the information about E-wallets to their
friends and others, 18% of them may or may not refer it to their friends and
only 2% does not like to refer about E-wallets to their friends and others.

Chart 4.21: Chart showing whether the respondents will suggest

E-wallets to others.

No
Maybe

Yes
Maybe
No

Yes
 CHAPTER V

FINDINGS, SUGGESTIONS AND

CONCLUSION
FINDINGS, SUGGESTIONS AND CONCLUSION

5.1 Findings

 Gender wise classification of respondents revealed that majority are

female compared to the opposite gender.
 All the respondents are students and therefore general questions are
avoided.
 On the rate of awareness about the functionality of E-wallets only a small
portion of them are not aware, majority are aware and the remaining
portion are partially and fully aware.
 From the study it is understandable that Google Pay have wide
acceptability from the others three E-wallets.
 Most of the respondents got the information about E-wallets from their
friends, then only social media, advertising and television/magazines also
have a role.
 Each and every person who uses E-wallets has done financial
transactions.
 In terms of E-wallets over other modes of payment some prefer E-wallets
because of its ease of use, some finds it is time saving and others prefer
E-wallets because of its security and wide acceptability.
 The study shows us that the best device for using E-wallets is smartphone
about three-fourth of them prefer smartphones and others prefer both
smartphone and personal computer. Therefore, the best device is
smartphone.
 Another finding is that some people consider E-wallets because of its
quick transfer, some consider it as an alternative choice and some
consider
E-wallets because of its exciting rewards and its security.
 Most of the E-wallets users use it for money transfer, recharge and utility
and bill payment. Very few people use it for any one of the above.
 The study makes us understand that users looks for rewards, cashback,
premium offers and discounts whenever they use E-wallets through their
devices.
 The respondents have used E-wallets once in a while and most of them
have used it for more than 15 times , some of them have used it for 5-10
times and only a few of them have used it for 10-15 times.
 It is understandable that majority of them uses it monthly and weekly and
only a few of them uses it daily and once in a year.
 About the obstacles in using E-wallets more than half of them says ‘Yes’
and the remaining says ‘No’ even when they say ‘No’ they do have
obstacles because in the next question each and every person finds one as
a hindrance while using E-wallets. Some of them finds it not safe to
financial transaction even though they find it safer than other payment
modes. Some of them are afraid of losing money through hackers, others
say that it cannot be used for international transactions and some say that
too much time is taken to set up.
 It is clear from the study that only a few of them has rated E-wallets below
neutral that means most of them are satisfied with the E-wallets services.
 People find E-wallets as a very useful mode of payment since half of the
respondents are attracted to all of the strategic weapons introduced by
E-wallets to attract users.
 The respondents support digital India as they support wide acceptability
of E-wallets all over India. They are interested in continuing using E-
wallets.
 The respondents up to a certain level agree that it promote their savings
and also they are satisfied with the security of their credentials and also
they would like to share information with their friends who are not aware
about this specific E-wallet service.
5.2 Suggestions

 E-wallets have to put more effort on making their wallet even more
attractive by making it more trustworthy to users.
 In the study, whenever students use E-wallets they look for new features
like premium offers and discounts and therefore new features can be
introduced among them and more students will be attracted to E-wallets.
 Among the students most of them supports E-wallet as a place for saving
and therefore savings scheme should be improved among all the E-
wallets.
 India supports digital marketing and this is to spread E-wallets useage
among shopkeepers so that people can use E-wallets anywhere and they
wouldn’t need to carry physical money with them.
 Inorder to make the transactions more safe, fast and flexible the
connection of banks with these E-wallets need to be improved a lot.
 After the birth of Google pay everybody has shifted their e-wallet to
Google pay as they have more features, offers and rewards than the other
wallets mentioned and therefore they have to improve their features
inorder to become a successful wallet.
5.3 Conclusion

The study was conducted to examine the various online payment methods
among students. The study was focused on Christ College (Autonomous)
located at Irinjalakuda.

The E-payment or E-wallets adoption was much more than what we had
anticipated at our initial assumption. Many E-wallets like Paytm, Phonepe,
Amazon Pay and Google pay were introduced and got wide acceptability.
Everyone who uses E-wallets are satisfied with their services. From the data
collected it is clear that none of them were unsatisfied with E-wallets, also
people find it as more secure than its competitors. But still many others prefer
direct banking transactions due to fear of losing money, safety issues and also
due to lack of knowledge about internet. This study was focused on college
students and therefore their response does not equalize to the response of
elder generations. The study makes us understand that today’s generation is
much more up to date to innovations and technologies as everything is on
their finger tip. Therefore, E-wallets has to make use of this to make more
awareness about the usability of the applications to those people who are
illiterate about the technology and internet which in turn leads India to a
cashless future.
BIBLIOGRAPHY
Books

o W Schropfer, D., n.d. The Smart Phone Wallet: Understanding the

Disruption Ahead.
o Darren Davis, J., n.d. Near Field Communication: The Digital Wallet
eBook.
Journals

o Hamid, N. R. and Cheng, A. W. 2013. A risk perception analysis on the

use of electronic payment systems by young adult. WSEAS Transactions
on Information Science and Application, 1 (10); 26-33.
o Roy, S. 2014. Determinants of customers’ Acceptance of Electronic
payment system in Indian banking sector. Scientific & Engineering
Research, 5 (1):6.
o Solomon. 2012. Perception and Attitude towards e – Payment System
Among University Students. Techno Learn: An International Journal of
Educational Technology, 2: 7-17.
o Manoharan B (2007), “Indian e-Payment System and Its performance” ,
Professional Banker, Vol. 7, No. 3, pp. 61-69.
o Hsiao-Cheng Y., Kuo-Hua H., & Pei-jen K. (2002). Electronic payment
systems: An Analysis And Comparison of Types. Technology in Society
24, 331-347.
Websites

o https://shodganga.inflibnet.in
o https://en.wikipedia.org/wiki/Google Pay
o https://en.m.wikipedia.org/wiki/Digital wallet
o https://www.researchgate.net/
o https://www.academia.edu/
ANNEXURE
 Questionnaire

1. Name :
2. Age :
3. Gender of the respondent?
a) Female b) Male c) others
4. Are you aware regarding the functionality of e-wallets?
a) Aware b) Fully aware c) Partially aware d) Not aware
5. Which e-wallet do you prefer the most?
a) Amazon Pay b) Google Pay c) Paytm d) Phonepe
6. From where did you get the information about e-wallets?
a) Social media b) Friends c) Advertisements
d) Magazine/Television

7. Do you use e-wallets for financial transactions?

a) Yes b) No
8. Why do you use e-wallets over other modes of payment?
a) Time saving b) Ease of use c) Security
d) Wide acceptability

9. Which device is most convenient for making the payment via e-wallets?
a) Smart phone b) Laptop c) Computer
d) All of the above

10. How do you consider e-wallets against other sort of payment methods?
a) Quick transfer b) Exciting rewards c) More secure
d) Alternate choice

11. What is your purpose of using e-wallets?

a) Money transfer b) Recharge c) Utility and Bill payment
d) All of the above

12. What do you keep in mind while using e-wallets?

a) Available discounts b) Premium offers c) Cash back
d) Rewards
13. How many times have you used e-wallets?
a) Only once b) 5-10 times c) 10-15 times
d) More than 15 times

14. How would you rate e-wallets according to usability?

a) Very satisfied b) Satisfied c) Neutral
d) Unsatisfied e) Very unsatisfied

15. How often do you use e-wallets?

a) Daily b) Weekly c) Monthly d) Yearly

16. Are there any obstacles while using e-wallets?

a) Yes b) No

17. What are the obstacles you face while using e-wallets?

a) Security of mobile payment

b) Too much time consuming to set up

c) Involves danger of losing money

d) Cannot be used for international transaction

18. Is e-wallets services useful mode of payment?

a) Strongly disagree b) Disagree c) Agree

d) Strongly agree

19. Among the following, which one do you think is a strategic weapon of

e-wallets to attract users?

a) Scratch card and cash back

b) Diwali offer and welcome 2021 offer

c) Chat option inside e-wallets

d) All of the above

20. Do you think e-wallets should be widely available in India?

a) Yes b) No c) Maybe

21. Would you like to continue using E-wallets?

a) Very likely b) Likely c) Neutral d) Unlikely

e) Very unlikely

22. Does e-wallets promote your savings?

a) Yes, very much b) Upto a certain level c) Not at all

23. Are you satisfied with the security of your credentials?

a) Yes b) No

24. Would you like to refer your friend to use e-wallets?

a) Yes b) No c) Maybe