A PROJECT ENTITLED

“A STUDY ON EFFECTIVENESS OF E-WALLET

AMONG CUSTOMERS WITH SPECIAL
REFERENCE TO NILAMBUR”
SUBMITTED TO
UNIVERSITY OF CALICUT

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

BACHELOR OF COMMERCE

Submitted By
VINAYAK KV
REG.NO:EXAUBCM073
6TH SEMESTER B.COM
Under the guidance of
Mrs. ANITHA CP (Assistant professor)
PG Department of Commerce and Management Studies

ERANAD KNOWLEDGE CITY COLLEGE OF COMMERCE

AND SCIENCE
MANJERI, MALAPPURAM DT
(Affiliated to University of Calicut )
2020-2023
 ERANAD KNOWLEDGE CITY COLLEGE OF COMMERCE
AND SCIENCES
MANJERI, MALAPPURAM DT
(Affiliated to the University Of Calicut)

Chairman: Dr. C.P. A Bava Haji Principal :Mrs.Suchithra Varma

CERTIFICATE

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

OF E-WALLET AMONG CUSTOMERS WITH SPECIAL REFERENCE TO
NILAMBUR” submitted to university of Calicut, in partial fulfilment of requirements
ofthe award of degree of bachelor of commerce is a record of original work done by
VINAYAK KV, Reg. no: EXAUBCM073 under my guidance and supervision. The
work has been satisfactory and is recommended for consideration towards the award of
bachelor of commerce degree of university of Calicut.

Place:CHERUKULAM Mr. VINEETH CT

Date: Head of department
 DECLARATION

I VINAYAK KV, student of B.COM in the

ERANADKNOWLEDGE CITY COLLEGE OF COMMERCE
AND SCIENCES, Cherukulam, hereby declare that the project
report entitled “A STUDY ONEFFECTIVENESS OF E-
WALLET AMONG CUSTOMERS WITH SPECIAL
REFERENCE TO NILAMBUR” is a record of bonafide research
carried out by me for the purpose of submitting to the University of
Calicut in partial fulfillment of the requirement for the award of
Bachelor of Commerce degree.

I also declare that this is an original work done

by me and this has not been submitted by me fully or partially for the
award of any Degree, Diploma or title of recognition anywhere else
earlier. The work was carried under the supervision and guidance of
Mrs. ANITHA CP

Place: CHERUKULAM VINAYAK KV

Date : Reg.NO: EXAUBCM073
 ACKNOWLEDGEMENT

I express my sincere thanks to Mrs. SUCHITHRA VARMA, principal,

ERANAD KNOWLEDGE CITY COLLEGE OF COMMERCE AND SCIENCES
and Mr.VINEETH CT Head of the PG department of commerce for their valuable
encouragement and help extended to me throughout the course.

I deeply indeed and express my sincere thanks and gratitude to my project

guide Mrs. ANITHA CP valuable suggestion and everlasting encouragements.

I proudly utilize this privilege to express my heart full thanks and sincere
gratitude to respected professors in the department of commerce for their
inspiration, guidance, suggestion, encouragement and timely helping. I like to extent
my sincere thanks to library staffs in ERANAD KNOWLEDGE CITY COLLEGE
OF COMMERCE AND SCIENCES.

I also express my sincere thanks to all faculty members of the departmentof

commerce for their inspiration, guidance and suggestions who helped in clearing
my doubts and giving required data and information for the completionof the work.

I would like to convey a sincere gratitude to all our teachers and librarian for
their supported. I am also expressing my sincere and heartfelt gratitude to my family
and friends for being greatest support and strength through all ways.

PLACE : CHERUKULAM VINAYAK KV

 TABLE OF CONTENTS
Titles Page
No.

Chapter 1 INTRODUCTION 1-7

Chapter 2 REVIEW OF LITERATURE 9-13

Chapter 3 THEORETICAL FRAMEWORK 14-29

Chapter 4 DATA ANALYSIS AND 31-50

INTERPRETATION

Chapter 5 FINDINGS, SUGGESTIONS & 51-54

CONCLUSION

56
BIBLIOGRAPHY

58-61
APPENDIX
 LIST OF TABLES

Table Titles Page

No. No.
Table 4.1 Age wise classification 31
Table 4.2 Occupation wise classification 32

Table 4.3 Educational qualification 33

Table 4.4 Annual income 34
Table 4.5 Time spend over the internet 35
Table 4.6 Awareness regarding the functionality 36
of e-wallet
Table 4.7 Origin information about e-wallet 37
Table 4.8 Previous purchase of any goods 38
/services over internet
Table 4.9 Reason for using e-wallet than other 39
mode of payment
Table 4.10 Medium used for payment via e-wallet 40
Table 4.11 Consideration of e-wallet against other 41
sort of payment methods
Table 4.12 The purpose of using e-wallet 42
Table 4.13 Number of usage of e-wallet 43
Table 4.14 Satisfaction level of e-wallet 44
Table 4.15 Interest in continuation of e-wallet 45
usage
Table 4.16 Obstacle by using e-wallet service 46
Table 4.17 e-wallet as useful mode of payment 47
Table 4.18 Belief in e-wallet 48
Table 4.19 Opinion on reference of e-wallet to 49
other
Table 4.20 Cost & benefit of e-wallet service 50
 LIST OF CHARTS

Chart Titles Page

No. No.
Chart 4.1 Age wise classification 31
Chart 4.2 Occupation wise classification 32

Chart 4.3 Educational qualification 33

Chart 4.4 Annual income 34
Chart 4.5 Time spend over the internet 35
Chart 4.6 Awareness regarding the functionality 36
of e-wallet
Chart 4.7 Origin information about e-wallet 37
Chart 4.8 Previous purchase of any goods 38
/services over internet
Chart 4.9 Reason for using e-wallet than other 39
mode of payment
Chart 4.10 Medium used for payment via e- 40
wallet
Chart 4.11 Consideration of e-wallet against 41
other sort of payment methods
Chart 4.12 The purpose of using e-wallet 42
Chart 4.13 Number of usage of e-wallet 43
Chart 4.14 Satisfaction level of e-wallet 44
Chart 4.15 Interest in continuation of e-wallet 45
usage
Chart 4.16 Obstacle by using e-wallet service 46
Chart 4.17 e-wallet as useful mode of payment 47
Chart 4.18 Belief in e-wallet 48
Chart 4.19 Opinion on reference of e-wallet to 49
other
Chart 4.20 Cost & benefit of e-wallet service 50
 CHAPTER 1

INTRODUCTION
Effectiveness Of E-Wallet Among Consumers

1.1 INTRODUCTION

E-Wallet is the most widely used tool for payment. This method is very helpful
for paying for traders; consumers too. At that time, traders causes negatively. It
affects their trade. Then they were interested to forward E-Wallet payment
system.
There are various E-Wallets such as SBI Buddy, Tez, Paytm. This can be
simply used in computers, smart phones. Majority of Indian especially the
youth prefer E-Wallet Payment System for faster transactions. This will reduce
the carrying of cash and the traders too. They can easily make their deal, and
also increase the education level of traders, technically.
The study reveals the adaptation of E-Wallet among traders. This project work
entitled “EFFECTIVENESS OF E-WALLET AMONG CONSUMERS
WITH SPECIAL REFERENCE TO NILANMBUR TALUK” has been
conducted to know the advantages and drawbacks by adopting E-Wallet
Payment System.

1.2 STATEMENT OF THE PROBLEM

The project mainly focused on the awareness level and satisfaction level of E-
Wallet payment system in consumers. Normally, the traders in rural areas has
no knowledge on IT/ other technical methods. But, now a days they are
interested in adopting modern methods of payment such as E-Wallet. They had
learned this system is very beneficial. This system is widely used during the
period of demonizing. At that time, consumers has reduced their purchase level
because of availability of change for money. It affects traders too. Then they
interested to adopt these kind of modem techniques.
There have the problem of acquiring knowledge on using E-Wallets. But, now
a days this is not an issue. Because, today's most of people are using smart

1
Effectiveness Of E-Wallet Among Consumers

phones .so, they are interested in adaptation of Digitalization strategies. Here

has the problem that some traders and consumers has no more technical
knowledge, they are following the traditional methods. For adopting
Digitalization, all the traders and consumers should understand the
beneficiaries by adopting modern technology.

1.3 OBJECTIVES OF THE STUDY

1. To understand how consumers perceive technological service

namely Digital Wallet
2. To study the factors that influence consumers in adoption of
Digital Wallet
3. To study the risk and challenges faced by consumers in use of
Digital Wallet
4. To give suggestion for overcome the problems of using wallet
5. To analyze the customers option regards the benefits and
obstacles of E-wallet
6. To study impact of E-wallet on of time market
7. To study E-wallet adoption among various urban consumers.
8. To study reasons and barriers for E-wallet adoption among
various urban consumers.
9. To analyze the future scope of e-wallet among urban consumers

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Effectiveness Of E-Wallet Among Consumers

1.4 SIGNIFICANCE OF THE STUDY

In this Modern world, each and every activities IT play dominant role,
especially in education field .The Traders also changes their payment too
electronically. Payment through electronic means that is E-Payment system.
The E-Payment system should adopt both traders and consumers too. Thus only
the benefits should appears . This system have been set up in remote areas for
fulfilling the various needs of rural people. Therefore, there is an urgent need
for its study. The study may help to identify the Adaption of E-Wallet Payment
System among traders and their influence among the rural people with special
reference to Nilambur.

1.5 SCOPE OF THE STUDY

This study analyzes the Adoption of E-Wallet payment system among traders. It
help full to understand the various problems by adopting Digitalization in rural
traders and rural consumers. In Modem days, The knowledge on IT in rural people is
increasing day-by-day. The study about E-Wallet Payment System is necessary to
understand people awareness and usage, and also its benefits

1.6 RESEARCH METHODOLGY

The methodology used in this study is through two ways such as secondary
data and primary data collection. By the primary data collection, the data
collected from the response of internal and external customer through a
structured questionnaire by using 50 samples. Secondary data collection
obtained indirectly from various books, publications and websites.

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Effectiveness Of E-Wallet Among Consumers

1.6.1 RESERCH DESIGN

The study was mainly conducted by adopting questionnaire method along with
personal interview. Here it is used descriptive method.

1.6.2 SAMPLING DESIGN

Sampling allow us to concentrate our attention upon are relatively small
number of people and hence devote more energy to ensure that the information
collected from is accurate. Convenience sampling is adopted us the sampling
design of the study.

1.6.2.1 POPULATION
The study conducted among the people of NILAMBUR TALUK who are using
e-wallet for payment.

1.6.2.2 SAMPLING UNIT

The sampling unit of this project is taken from number of customers of e-wallet
for payment

1.6.2.3 SAMPLE SIZE

The sample size of the study is 50

4
Effectiveness Of E-Wallet Among Consumers

1.6.2.4 SAMPLING METHOD

Convenient sampling was used for collecting data

1.6.3 SOURCE OF DATA

The data were collected from both primary and secondary sources

1.6.3.1 PRIMARY DATA

The primary data is collect from people of NILAMBUR TALUK.

1.6.3.2 SECONDARY DATA

The secondary data were collected from
• Journals
• Magazines
• Web sites
•
1.7 TOOLS USED FOR DATA COLLECTION
A) Primary data
B) Secondary data

1.8 TOOLS USED FOR DATA ANALYSIS AND

INTERPRETATION
Percentage analysis and correlation is used for the analysis of the data. The data
are collected and presented by using various tools such as graph, diagram,
charts and table.

5
Effectiveness Of E-Wallet Among Consumers

1.9 AREA OF THE STUDY

NILAMBUR TALUK

1.10 PERIOD OF THE STUDY

The study has conducted for a period of 21 days.(28/12/22 – 17/01/23)

1.11 LIMITATIONS
1. The study was restricted to resident living in NILAMBUR TALUK
alone.

2. The result may not be accurate as its respondents are restricted to only50
3. Time is also a constraint factor for the study.
4. The convenient sampling method for collecting data in the study has its
own.
5. The reliability of secondary data also affects the study.

6
Effectiveness Of E-Wallet Among Consumers

1.12 CHAPTER SCHEME

CHAPTER 1

First chapter includes an introduction, statement of the problem, objectives,

scope of the study, significance of the study, research methodology,and tools of
analysis, limitations and chapter plan.

CHAPTER 2

second chapter deals with the review of literature. It contain literature review of
various studies conducted earlier.

CHAPTER 3
This chapter includes theoretical framework in e-wallet of the payment in india
and organisational structure.

CHAPTER 4
Fourth chapter is data analysis and interpretation of data where presentation
tools like percentage analysis, graphical representation and stastical tools like
correlation method were used.

CHAPTER 5
it includes or contains the major findings, and conclusion of the study.

7
 CHAPTER 2

REVIEW OF LITERATURE
Effectiveness Of E-Wallet Among Consumers

REVIEW OF LITERATURE

1. Alan cole, scott Macfaddin, chandranaraynswami. Alpna Tiwari(2009)

Concluded that much of work in this are has been concerned with use of
mobile phones as a surrogate for a credit card or smart card . there is numerous
application , each ending with one or two different user inter face , each
possible requiring a separate login , falls far short of what believe is required to
make mobile phone a viable replacement for physical wallet. He commented
that to accommodate an open set of content types. Standard will also be an
important aspect of this work , enabling independently developed services from
multiple providers to interoperate with one another.

2. UPADHYA ABHAY (2012)

His research paper has studied about electric commerce and e-wallet. He has
concluded that with e-wallets one can send and receive payment any where in
the account can be managed from our mobile phone. Money can be transacted
from e-wallets to e-wallet without having personal account numbers. He has
also put a light on the negative side of e wallets ie. Authentification should be
taken care of in electronic payments system.

3. CHAUHAN PINAL(2013)
According to him the key of success of this payment method are security,
anonymity of transactions, the cost of transactions, as well as the plurality of
functions(payment, travel card, e-key for building access etc) but still he feel
that e-wallet still has some disadvantages interms of interopertability and
standardisation of security and formats.
Effectiveness Of E-Wallet Among Consumers

4. SALODKAR AMBARISH, MOREY K ARAN AND SHIRBBATE

MONALI (2015)
Their study on electronic wallet have advocated that future of the electronic
payment system will be based on the elements like the mobile environments
and devices, the electronic wallet and standards meant to increase the flexibility
of transactions. According to them E-wallet will definitely pave the way for a
secure, fast and futuristic way of transactions.

5) VIDYASHREE DR.YAMUNA N, NITHYA SHREE G (2015)

Concluded that people are more aware about the online payments through
mobile applications and there is a wider increase in growth rate. Paytm and pay
money is giving 2 level security authentification to safeguard our payment
details. The digital payment system has to take necessary step to overcome
delay in processing of payments.

6. kalyani pawan(2016)
In his study has pointed out that e-wallet is restricted to the mobile users.
People are using a few services mostly for recharging the DTH and paying
bills. He has also pointed out that the awareness and practical usability he has
suggested that more value added services should be added to wallets

7. R.VARSHA. THULASIRAM (2016)

Fount that E-wallet which are considered as an hi-tech platform for money
transacting and payments have been perceived to be comfortable and reliable,
indicating high levels of acceptance. The e-wallet service providers need to
stratergize targeting not only at students and the youth, but also other age
groups.
Effectiveness Of E-Wallet Among Consumers

8. DR.RAMESH SARDAR (2016)

Summarized that M wallet have emerged as the most significant contributor in
pushing cashless and electronic payment. Over time when mobile payments
will represent a significant part of retail sales, there should be inter- operability
between different wallets. As most of respondents are concerned about the
security of mobile payments, the security system should be strengthening

9. DR.POONAM PAINALY, SHALU RATHI (2016)

“Mobile wallet ; An upcoming mode of business transaction ‟‟ concluded types
trends and role of wallet in various sector like bank, retail and hospitability.
The paper also explains the importance of mobile wallet and future scope.
Paper revels the consumer psychology while experiencing shopping with
mobile payments and growth of mobile money in business, social and
economic prospective.

10. DR. HEMSHWETA RATHORE (2016)

Adoption of digital wallet by consumers have analysed about the factors that
influence consumers in adoption of digital wallet and also analysed the risk
and challenges faced by consumers in usage of digital wallet and concluded
that shoppers are adopting digital wallet largely due to convenience and ease to
use and in the future year wallet will gain more widespread accepatance.
Effectiveness Of E-Wallet Among Consumers

REFERANCE:
1. Alan cole, scott Macfaddin, chandranaraynswami. Alpna
Tiwari(2009).towards mobile digital wallet. IBM research report October
16,2009.

2. UPADHYA ABHAY (2012) in his article on “electronic Commerce and E-

wallet” attempted to analyse the main family of payment cards which include
credit card debit card and charge card.

3. CHAUHAN PINAL(2013) E-wallet: The trusted partner in our

pocket.(IJRMP):2320-0401,April 2013.

4. SALODKAR AMBARISH, MOREY K ARAN AND SHIRBBATE

MONALI (2015) “Electronic wallet”, international research journal of
engineering and technology (IRJET), Volume 2 , issue 9.

5. IDYASHREE DR.YAMUNA N, NITHYA SHREE G (2015). “A study on

New Dynamic in Digital Payment System- with special reference to paytm
and pay u money”. International journal of Applied Research
2015;1002:1005.

6. kalyani pawan(2016) An empirical study about the awareness of paperless e-

currency transaction like e-wallet using ICT in the youth of india journal of
management engineering and information technology,3,3.

7. R.VARSHA. THULASIRAM (2016) “Acceptance of E-wallet service : A

study of consumer behaviour”. International journal of innovative Research in
management studies (IJIRMS)ISSN (online):2455-7188,1,4.
Effectiveness Of E-Wallet Among Consumers

8. DR.RAMESH SARDAR (2016) preference towards mobile wallet among

urban population of jalgaon city. Journal of management (JOM) 3,2 july - dec
(2016).

9. DR.POONAM PAINALY, SHALU RATHI (2016)”mobile wallet :an

upcoming mode of bus lines transaction”, international journal in management
and social science, Vol.04 issue -05 (may,2016) ISSN: 2321-1784.

10. DR. HEMSHWETA RATHORE (2016). Adoption of digital wallet by

consumer. BVIMSR‟S journal of management Research, 8,1 April: 2016.
 CHAPTER 3
THEORATICAL FRAMEWORK
Effectiveness Of E-Wallet Among Consumers

WHAT IS E-WALLET?
E-wallet is a type of pre-paid account in which a user can store his/her money
for any future online transaction. An E-wallet is protected with a password.
With the help of an E-wallet, one can make payments for groceries, online
purchases, and flight tickets.
E-wallet has mainly two components, software and information. The software
component stores personal information and provides security and encryption of
the data. The information component is a database of details provided by the
user which includes their name, shipping address, payment method, amount to
be paid, credit or debit card details, etc
For setting up an E-wallet account, the user needs to install the software on
his/her device, and enter the relevant information required. After shopping
online, the E-wallet automatically fills in the user's information on the payment
form. To activate the E-wallet, the user needs to enter his password. Once the
online payment is made, the consumer is not required to fill the order form on
any other website as the information gets stored in the database and is updated
automatically.

DEFINITION FOR E-WALLET

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

IS E-WALLET IS APPLICABLE?
Digital wallet integrated into an existing mobile device like a cell phone. This
digital wallet would allow the own Carry multiple monetary and identification
implements. These implements could be quickly searched by name , type or
other keywords. In addition with the right software. These implements could be
managed far more effectively. Finally, Security would be enhanced as all data
on the digital wallet would be encrypted and back up options would make
recovering from loss easier, however, the idea of the digital wallet is not new.
indeed, Japan, America, Sweden and South Korea have aheady rolled out cell
phone-base digital based digital wallet solutions. Consumers in those countries
can use their cell phones to pay for groceries, order drinks from a vending
machine, Even identify themselves at airline ticketing counters.

APPLICATION OF E-WALLET
Consumers are not required to fill out order forms on each site when they
purchase an item because the information has already been stored and is
automatically updated and entered into the order fields across merchant sites
when using a digital wallet. Consumers also benefit when using digital wallets
because their information is encrypted or protected by a private software code;
merchants benefit by receiving protection against fraud.
Digital wallets are available to consumers free of charge, and they're fairly easy
to obtain. For example, when a consumer makes a purchase at a merchant site
that's set up to handle server-side digital wallets, he types his name and
payment and shipping information into the merchant's own form. At the end of
the purchase, the consumer is asked to sign up for a wallet of his choice by
entering a user name and password for future purchases. Users can also acquire
wallets at a wallet vendor's site.
Effectiveness Of E-Wallet Among Consumers

Although a wallet is free for consumers, vendors charge merchants for wallets.
Some wallet vendors make arrangements for merchants to pay them a
percentage of every successful purchase directed through their wallets. In other
cases, digital wallet vendors process the transactions between cardholders and
participating merchants and charge merchants a flat foe.

ADVANTAGES OF E-WALLET ADOPTION AMONG

CUSTOMERS

• EASY TO USE
It only takes a few minutes to set up an e-wallet. Simply download the app and
follow onscreen instructions to set up your account and add your payment
details. More and more retailers are using a mobile payment solution thatallows
them to accept e-wallets. When you‟re ready to make your first paymentat one
of these retailers, you just have to hold your phone near the payment reader or
scan the QR code, and the payment will be made. Simple as that!

• SAFE AND SECURE

Your money and personal details are safe when you use an e-wallet. All of your
account information is encrypted - this means that actual account numbers
aren‟t stored on your phone. You will need to enter a password, or other
verification details, any time you wish to view or change account information.
This is far safer than walking around with cash and credit cards in your pocket.
When you make a payment, the retailer doesn‟t receive your credit card details.
Instead, a random transaction number is used. This means your data is safe
from fraud. In addition, if you ever lose your phone, you don‟t need to worry
about a thing, since e-wallets are password locked.
Effectiveness Of E-Wallet Among Consumers

• FAST
Like other mobile payment methods, an e-wallet payment is almost
instantaneous, requiring just a simple wave of your phone. Once a payment has
been made, the transaction is automatically recorded for later viewing.
You can also make online payments in just a few clicks with an e-wallet. As all
of your cards are already stored in the e-wallet, you won‟t have to fill in
lengthy payment detail forms every time you want to make a payment on an e-
commerce website.

• EASY TO CONNCET TO OTHER ACCOUNTS

Using an e-wallet is ideal for someone who wants the flexibility to make
payments from different accounts. You can add all of your existing credit cards
or mobile money accounts to an e-wallet. Then, when you come to make a
payment, you can simply choose which card or mobile money account you
want to use. This will save space in your actual wallet, as you won‟t need to
carry all of your cards around with you!

• MODERN
Traditional cash-only businesses, such as craft fairs and flea markets, can now
accept debit and credit cards. This opens up an entirely new aspect to payment
methods in large markets, introducing many business opportunities and greater
potential revenue.
Effectiveness Of E-Wallet Among Consumers

• COMPETITIVE ADVANTAGES
Digital wallet applications provide a more convenient transaction processing
method for customers, giving businesses that employ this technology a
competitive edge in the market. It redefines the user experience of paying and
incorporates a novelty aspect to each purchase.

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

• DISCOUNTS FROM TAXES

Government has announced many discounts to encourage digital

payments. If you use digital modes to make a payment up to Rs. 2000, you get
full exemption from service tax. You also get 0.75% discounts on fuels and
10% discount on insurance premiums of government insurers.

• WRITTEN RECORD

You often forget to note down your cash spending. Or even if you note, it
takes a lot of time. But you do not need to note your spending every time with
digital payments. These are automatically recorded in your passbook or inside
your E-Wallet app. This helps to maintain your record, track your spending and
budget planning.
Effectiveness Of E-Wallet Among Consumers

• LESS RISK

Digital payments have less risk if you use them wisely. If you lose your
mobile phone or debit/credit card or Aadhar card you don‟t have to worry a lot.
No one can use your money without MPIN, PIN or your fingerprint in the case
of Aadhar. But it is advised that you should get your card blocked if you lost it.
Also call the helpline of your E-wallet to suspend the wallet account to prevent
anyone from using your wallet money.

• PAY OR SEND MONEY FROM ANYWHERE

With digital payment modes, you can pay from anywhere anytime.
Suppose your close friend‟s mother fell ill at night. He called you at midnight
and asked some money. Don‟t worry, you can send money to your friend using
digital payment modes such as UPI apps, USSD or E-Wallets.

DISADVANTAGES OF E-WALLET ADOPTION AMONG

CUSTOMERS

• INVESTMENT

The initial monetary investment for building a functional digital wallet

application is quite large. It requires the initial development of the software as
well as the continual maintenance, updates and fixes associated with it. Upon
acquiring software, the business would also need to install the corresponding
hardware in their stores, which leads to a further increase in costs.
Effectiveness Of E-Wallet Among Consumers

• SUPPORT TECHNOLOGY

There are few supporting technologies to choose from at the moment, with
NFC terminals and phone readers being the most prevalent. In the case of
digital wallets, they can only function with a corresponding hardware device
for each application. NFC terminals and specialize scanners are the only
devices created at the moment that will support the processing of digital wallet

payments; thus, it is very limited because the technology is still new.

• SYSTEM OUTAGES

Information for digital wallets are stored on the cloud of business servers;
therefore, the risk of a system malfonction or shut down is always present. As a
result, businesses will not be able to process payments or they will become
increasingly slow due to high traffic in the servers.

• SECURITY

Companies must ensure that their customers' information is encrypted and

well protected. One of the biggest concerns of adopting a digital wallet
application is "will my information be safe"? This is the hurdle that companies
must face and as a result, must develop security systems that are as safe and
foil proof as possible to avoid potential security issues.

• CAN’T PURCHASE FROM COMPATIBLE RETAILERS

If your idea of a digital wallet is using your mobile device‟s near field
communication (NFC), then you can only make purchases from a retailer with
a POS terminal. Since these aren‟t widely used yet, you might still have to
carry around your traditional wallet for a few years before you can completely
toss it out. Not only that, but your phone has to have NFC capabilities, and not
all smart phones have that yet.
Effectiveness Of E-Wallet Among Consumers

OVER SPENDING
You keep limited cash in your physical wallet. Hence, you think twice before
buying anything. But if you use digital payment modes, you have all your
money with you always. This can result in over spending .

BENEFITS OF E-WALLET BY CONSUMERS TO VARIOUS

PARTIES
Digital wallet appears to be beneficial in generating real revenue stream to all
the stakeholders of mobile ecosystem like- customers, banks, mobile-operators,
financial institutions.

1. BENEFITS TO CUSTOMERS
• Everywhere, Anytime payment experience which is the essence of
immediacy & ubiquity.
• No dial-up, no configuration or booting requirement to ensure instant
connectivity through wireless route.
• Substituting voice communication through texts & images for deaf or
mute users.
• State of the art security platform.
•
2. BENEFITS TO BANK
• Enhanced brand image through alternate sales channel in mobile
payment space and thus leading to loyalty development.
• Extending value-added services through 24x7 branchless banking
experience.
Effectiveness Of E-Wallet Among Consumers

3. BENEFITS TO FINANCIAL INSTITUTION

• Ensuring enhanced customer‟s satisfaction & their retention together
with direct marketing promos for tailored offerings to specific clients.
• Generating new business leads by one to one bank- client relationship.
Enables FIs to keep constant connection with clients through 24x7
formats to serve their diverse needs everywhere, all the time.
• Increased reach to more customers, specially the unbanked segment due
to increasing mobile usage rate and thereby reduced operating costs out
of fewer direct teller interactions happened physical branches.
4. BENEFICIAL GAINS TO MOBILE OPERATORS
• Expanded service portfolio brand promotion to create a differentiating
factor to generate more new leads.
• FIs gain increased revenue by high mobile traffic build up.
• It enable users to check bank account status & recharge prepaid mobile
account instantly using mobile payment gateway(IMPS).
Effectiveness Of E-Wallet Among Consumers

MOST COMMONLY USED DIGITAL WALLETS IN INDIA

1. Paytm
Paytm started out with mobile recharges, DTH plans, and bill payments, and
then launched an e-commerce market place in February 2014. Its wallet my-
trip, along with others in categories such as shopping, travel, entertainment,
and food. It has a license from RBI to set up a payments bank, enabling it to
offer current and savings account deposits, issuing debit cards and offering
internet banking services.
2. Tez
Internet giant Google forayed into the crowded but promising space of payment
solutions in the country with the launch of its „Tez‟
application. Google Tez is a mobile wallet based on the Unified Payments
Interface (UPI) platform built by the National Payments Corporation of India
(NPCI). UPI-enabled wallets permit users to transfer money without requiring
the bank account details of the recipient. The UPI ID of the recipient is used as
a proxy for the account number and IFSC code, thereby simplifying the process
of money transfer.
It comes with features that Google said makes it easy and safe to use. To tap
into the large merchant base with whom people may not be comfortable sharing
their details, Tez offers a feature called Cash Mode where one can pay without
sharing bank details or phone number. This is done through technology called
audio QR that works like near field communication (NFC) and uses ultrasound
waves to connect two phones through microphone and speaker.
After installing the app, users have to sync their wallets with their Google
account, and the mobile number linked to it. Access to the wallet from the app
drawer is protected by two-level security: a 4-digit Google PIN, and the
security settings on the device, such as pass codes, fingerprints, or pattern
locks.
Effectiveness Of E-Wallet Among Consumers

3. PhonPe
For a rather late entrant into the digital payments segment, Flip-kart-owned
Phone Pe has claimed high growth figures in a short time. Recently, it claimed
to have overtaken Bharat Interface for Mobile (BHIM) app in terms of total
transactions with a 45% share in August 2017. It has also launched pilot
solutions for offline commerce and has on boarded at least 25,000 offline
merchants. It promises to make payments a more seamless experience with the
launch of UPI 2.0. In an interaction with VCCircle, the company‟s co-founder
and chief technological officer, Rahul Chari, discusses at length the company‟s
expansion plans and the broad roadmap ahead for Phone Pe.
4. SBI BUDDY
State Bank Buddy is State Bank of India's mobile wallet on your smart phone.
It is a semi-closed prepaid wallet which can be used to transfer money to other
wallet users and bank accounts, anytime, anywhere.
The following services will be available on State Bank Buddy mobile app.
➢ Send Money
➢ View Your Statements
➢ Personalize your Buddy
➢ Prepaid Mobile Recharge & DTH

➢ Pay Your Bills

➢ Book Movie Tickets

➢ Online Merchant Payments

5. MobiKwik

Mobikwik is a Gurgaon based e-wallet payment system in India that helps

its users store their money. Founded in 2009 by Bipin Singh and Upasana
Taku, this digital wallet enables users to recharge, pay bills, and make third-
party purchases with one tap.
Effectiveness Of E-Wallet Among Consumers

6. Pay U money

Pay U money, a part of Pay U India, is a free payment gateway solution for
merchants to collect payments from customers via debit/credit cards or net
banking, and more. They also offer SMS and email invoicing for merchants
that do not have a website.

7. Citrus

Citrus Pay is a popular e-wallet app for cash storage, payments and money
transfers. Besides tying up with online service providers from varied sectors,
they are now collaborating with Woohoo, a gifting and shopping portal to let its
customers shop at more than 5000 offline stores listed with them.

CUSTOMER

A customer (sometimes known as a client, buyer, or purchaser) is the

recipient of a good or a service, or a product, or an idea, obtained from a seller,
vendor, or supplier via a financial transaction or exchange for money or some
other valuable consideration. Etymologically, a client is someone merely
inclined to do business, whereas a purchaser procures goods or services on
occasion but a customer customarily or habitually engages in transactions. This
distinction is merely historic. Today customers are generally categorized into
two types:

A customer may or may not also be a consumer, but the two notions are
distinct, even though the terms are commonly confused. A customer purchases
goods; a consumer uses them. An ultimate customer may be a consumer as
well, but just as equally may have purchased items for someone else to
consume. An intermediate customer is not a consumer at all. The situation is
somewhat complicated in that ultimate customers of so-called industrial goods
and services (who are entities such as government bodies, manufacturers, and
educational and medical institutions) either themselves use up the goods and
Effectiveness Of E-Wallet Among Consumers

services that they buy, or incorporate them into other finished products, and so
are technically consumers too.

USING AN E-WALLET

■ Install software on your mobile

■ Feed in basic information such as name and bank details.
■ The e-Wallet will automatically fill in user information on the payment
form, when shopping online.
■ Activate the e-Wallet with your password.

■ Once the online payment is complete, your information is saved for further
use and updated automatically.

Although a wallet is free for consumers, merchants pay a commission for

every successful purchase directed through an e-Wallet.

CONSUMER PROTECTION ISSUES

TYPES OF MOBILE PAYMENT

Mobile payments can be used for the following three types of transactions:

➢ Mobile payment -(Paying for goods and services: shopping, paying bills,
etc.)
➢ Mobile remittance (Sending money to or receiving from an individual,
(person - to-person) especially from abroad; very popular in East Africa)
They can be infra- or inter-national.
➢ Mobile banking (Withdrawals, transfers and other transactions on actual
bank accounts)
Here are consumer protection issues which have been brought to Cl‟s attention
by members and by
industry colleagues:

❖ Lack of tangible proof of payments(e.g. receipts), with the

Effectiveness Of E-Wallet Among Consumers

consequence that in the case of a dispute the consumer will have no

evidence to support a claim that a specific payment has been made. This
evidently exposes consumers to abusive billing or “double-charging”. CI
advocates billing standards to enable tracking of transactions.
❖ Unreliable mobile account crediting systems. In India for instance,
many mobile accounts are credited by cheques which are dropped in the
drop boxes (like public letter boxes), processed by subcontractors. Many
cheques are reported lost, with no clarity as to who should be bear
liability for this loss. Lost cheque need service standards to trigger ICT-
style security investigations in order to validate claims and deal with
compensation.
❖ Lack of technology standard.. Mobile payment technical platforms are
not properly standardized or regulated. This can mean that there is no
universal and cohesive mode of payment. The danger is that there is a
lack of traceability and the possibility that consumers‟ money is “lost in
translation” when it transits from one mobile payment system to
another. This lack of interoperability between various mobile payment
interfaces has also raised concerns over privacy and security when
confidential details are shared through fragmented versions of mobile
payment platforms.
❖ In many cases, as noted, there is no specific regulatory framework
concurrently engaging the main partakers in the provision of mobile
payment services, i.e. the bank, the network provider and the mobile
device manufacturer. Kenya, where M-commerce is booming as we
have seen, boasts of very light regulation on this. But the consequence is
that the contract between the consumer and the mobile network provider
is in practice, a normal phone contract, offering no legal basis for the
right to redress or compensation should money be lost during
transactions or due to technical faults. Worse, pay as you go customers,
Effectiveness Of E-Wallet Among Consumers

who are the great majority in many low income countries, will not even
have a personalized contract. In rich countries too, it is reported that
agencies are failing to coordinate their activities in rapidly moving areas
such as identity theft, leading to financial theft. A further ambiguity
resides in the status of „shadow banking‟ activities, under neither
telephone nor banking regulation.
❖ No independent ombudsman. In many countries, due to the novelty of
the phenomenon and especially the easy assimilation or confession with
ecommerce, mobile payments seem to be a “no man‟s land” where the
service provider would be both the judge and party, in any case of
dispute with individual consumers or consumer rights groups.
❖ Lack of currency. . Although Mobile payments may allow parties to
make economic exchanges, they do not take the form of legal tender in
the sense that they lack the status of other payment instruments such as
cash, which is a medium of exchange that is authorized, adopted and
guaranteed by the government. At best mobile payments have to be
backed by the issuer‟s promise to pay.
❖ Dormant assets. What happens to consumers‟ money when they lose
touch with it is an important issue in mobile payments, just as it is in
financial services such as bank accounts, pensions and insurance
policies. The exact definition of when money/assets become dormant
needs to be determined. In mobile payments the treatment of dormant
assets in the case of number termination, loss of phone and death is not
adequately addressed. Although the amounts that can be stored in e-
wallets, e-purses, credit on phones and potentially in other areas such as
apps, are relatively small on an individual basis, the aggregate amounts
could total hundreds of millions of dollars, maybe billions in due course
as mobile payments increase their share of payment transactions.
 CHAPTER 4
DATA ANALYSIS AND INTERPRETATION
Effectiveness Of E-Wallet Among Consumers

TABLE 4.1
TABLE SHOWING AGE WISE CLASSIFICATION OF
RESPONDENTS
PARTICULARS NO. OF PERCENTAGE
BELOW 30 30 60%
30-40 8 16%
40-50 6 12%
ABOVE 50 6 12%
TOTAL 50 100%
(Source: primary data)

FIGURE 4.1: SHOWING AGE WISE CLASSIFICATION OF

RESPONDENTS

70%

60%

50%

40%

PERCENTAGE
30%

20%

10%

0%
BELOW 30 30-40 40-50 ABOVE 50

INTERPRETATION
Out of 50 respondents 60% are belongs to the age group of below 30. 16% are
belonging to the age group of 30-40. 12% are belonging to the age group of 40-
50. And remaining 12% are belonging to above 5
Effectiveness Of E-Wallet Among Consumers

TABLE 4.2
TABLE SHOWING OCCUPATIONOF RESPONDENTS

PARTICULARS NO. OF PERCENTAGE

PROFESSIONAL 8 16%
SELF EMPLOYED 13 26%
SALARIED 23 46%
OTHERS 6 12%
TOTAL 50 100%
(Source: primary data)

FIGURE 4.2: SHOWING OCCUPATION OF RESPONDENTS

PERCENTAGE
50%
45%
40%
35%
30%
25%
PERCENTAGE
20%
15%
10%
5%
0%
PROFESSIONAL SELF EMPLOYED SALARIED OTHERS

INTERPRETATION
Out of the 50 respondents 16% are professionals. 26% are self employed and
46% among them are salaried. 12% are engaged others.
Effectiveness Of E-Wallet Among Consumers

TABLE 4.3
TABLE SHOWING EDUCATIONAL QUALIFICATION OF
RESPONDENTS

PARTICULARS NO. OF PERCENTAGE

PLUS TWO OR 14 28%
GRADUATE 15 30%
PG 8 16%
DIPLOMATE 13 26%
TOTAL 50 100%
(Source: primary data)

FIGURE 4.3: SHOWING EDUCATIONAL QUALIFICATION OF

RESPONDENTS

35%

30%

25%

20%

15% PERCENTAGE

10%

5%

0%
PLUS TWO OR GRADUATE PG DIPLOMATE
BELOW

INTERPRETATION

Out of 50 respondents 28% are below plus two. 30% are graduate. 16% are
post graduate and remaining 26% are diplomats
Effectiveness Of E-Wallet Among Consumers

TABLE 4.4
TABLE SHOWING ANNUAL INCOME OF RESPONDENTS
PARTICULARS NO.of RESPONDENT PERCENTAGE

BELOW 10,000 4 8%
10,000-20,000 12 24%
20,000-50,000 23 46%
ABOVE 50,000 11 22%
TOTAL 50 100%
(Source: primary data)

FIGURE 4.4: SHOWING ANNUAL INCOME OF RESPONDENTS

50%
45%

40%

35%

30%
25%
PERCENTAGE
20%
15%

10%

5%

0%
BELOW 10,000 10,000-20,000 20,000-50,000 ABOVE 50,000

INTERPRETATION
Out of 50 respondents only 8% are earned below 10,000 rupees per annum.
24% are earned 10,000-20,000 per annum. 46% are earned 20,000-50,000
rupees per annum and remaining 22% are earned more than 50,000 rupees per
annual
Effectiveness Of E-Wallet Among Consumers

TABLE 4.5
TABLE SHOWING TIME SPEND OVER THE INTERNET

PARTICULARS NO. OF PERCENTAGE

RESPONDENTS
1-3 HOURS/ DAY 18 36%
3-6 HOURS/ DAY 25 50%
6-9 HOURS/ DAY 5 10%
MORE THAN 9 2 4%
TOTAL 50 100%
(Source: primary data)

FIGURE 4.5: SHOWING TIME SPEND OVER THE INTERNET

4%
10%

36%
1-3 HOURS/ DAY (36%)
3-6 HOURS/ DAY (50%)
6-9 HOURS/ DAY (10%)
MORE THAN 9 HOURS (4%)

50%

INTERTRETATION
Out of 50 respondents, 36% are spends 1-3 hours/ day over internet. 50% of
them spend 3-6 hours/ day. 10% of respondents use internet 6-9 hours/ day and
remaining 4% are using internet more than more than 9 hours.
Effectiveness Of E-Wallet Among Consumers

TABLE 4.6
TABLE SHOWING AWARENESS REGARDING THE
FUNCTIONALITY OF E-WALLET

PARTICULARS NO. OF PERCENTAGE

RESPONDENTS
FULLY AWARE 18 36%
PARTIALLY 44%
22
AWARE
NOT AWARE 10 20%
TOTAL 50 100%
(Source: primary data)

FIGURE 4.6: SHOWING AWARENESS REGARDING THE

FUNCTIONALITY OF E-WALLET

50%
45%

40%

35%

30%

25%
PERCENTAGE
20%
15%

10%

5%

0%
FULLY AWARE PARTIALLY AWARE NOT AWARE

INTERPRETATION:

Out of 50 respondents, 36% are aware on functioning of E-wallet. 44% of them

partially aware and remaining 20% are not aware on functionality of E-wallet.
Effectiveness Of E-Wallet Among Consumers

TABLE 4.7
TABLE SHOWING ORIGIN INFORMATION ABOUT E-WALLETS

PARTICULARS NO.OF PERCENTAGE

RESPONDENTS
SOCIAL MEDIA 21 42%
FRIENDS 17 34%
MAGAZINE/ 24%
TELEVISION 12
TOTAL 50 100%
(Source: primary data)

FIGURE 4.7: SHOWING ORIGIN OF INFORMATION ABOUT E-

WALLETS

45%
40%

35%

30%

25%

20% PERCENTAGE

15%
10%

5%

0%
SOCIAL MEDIA FRIENDS MAGAZINE/

INTERPRETATION
Out of 50 respondents, 42% are got information about E-wallet through social
media. 34% of them got information from friends and remaining 24% got
information on E-Wallet from magazines / televisions.
Effectiveness Of E-Wallet Among Consumers

TABLE 4.8

TABLE SHOWING PREVIOUS PURCHASE OF ANY GOODS /

SERVICES OVERINTERNET

PARTICULARS NO. OF PERCENTAGE

RESPONDENTS
YES 21 42%
NO 20 40%
SOMETIMES 9 18%
TOTAL 50 100%
(Source: primary data)

FIGURE 4.8: SHOWING PREVIOUS PURCHASE OF ANY GOODS

/SERVICES OVER INTERNET

45%
40%

35%

30%

25%

20% PERCENTAGE

15%

10%

5%

0%
YES NO SOMETIMES

INTERPRETATION

Out of 50 respondents, 42% of them are purchase any product/ services online.
40% of them are not ever purchase through online and remaining 18% of
respondents has purchase through internet sometimes, not regularly.
Effectiveness Of E-Wallet Among Consumers

TABLE 4.9
TABLE SHOWING REASON FOR USING E-WALLET THAN OTHER
MODE OF PAYMENT

PARTICULARS NO. OF PERCENTAGE

RESPONDENTS
TIME SAVING 18 36%
EASY TO USE 19 38%
SECURITY 13 26%
TOTAL 50 100%
(Source: primary data)

FIGURE 4.9: SHOWING REASON FOR USING E-WALLET THAN

OTHER MODE OF PAYMENT

40%

35%

30%

25%

PERCENTAGE
15%

10%

5%

0%
TIME SAVING EASY TO USE SECURITY
NTERPRETATION
Out of 50 respondents, 36% of respondents are using e-wallets for time-saving.
38% of them are choose e-wallets by the reason of easy to use and the

remaining of them select the e-wallet service by the reason of security of

transact.
Effectiveness Of E-Wallet Among Consumers

TABLE 4.10
TABLE SHOWING MEDIUM USED FOR PAYMENT VIA E-WALLET

PARTICULARS NO. OF PERCENTAGE

RESPONDENTS
SMART PHONE 28 56%
COMPUTER 10 20%
BOTH 12 24%
TOTAL 50 100%
(Source: primary data)

FIGURE 4.10: SHOWING MEDIUM USED FOR PAYMENT VIA E-

WALLET

PERCENTAGE
60%

50%

40%

30%
PERCENTAGE

20%

10%

0%
SMART PHONE COMPUTER BOTH
INTERPRETATION
Out of 50 respondents, 56% of them are using smart phone for e-payment. 20%
of the respondents are using computer for e-payment and remaining 24% are
Effectiveness Of E-Wallet Among Consumers

TABLE 4.11
TABLE SHOWING CONSIDERATION OF E-WALLET AGAINST
OTHER SORT OF PAYMENT METHODS

PARTICULARS NO. OF PERCENTAGE

RESPONDENTS
ALTERNATE 22 44%
SUBSTITUTE 8 16%
SUPPORTIVE 40%
INSTRUMENT 20
TOTAL 50 100%
(Source: primary data)
FIGURE 4.11: SHOWING CONSIDERATION OF E-WALLET
AGAINST OTHER SORT OF PAYMENT METHODS

50%
45%

40%

35%

30%

25%
PERCENTAGE
20%
15%

10%

5%

0%
ALTERNATE CHOICE SUBSTITUTE SUPPORTIVE

INTERPRETATION

Out of 50 respondents, 44% of them choose e-wallet as alternate choice against

other methods. 16% of them choose substitute for the other methods as e-
wallet. And remaining 40% select e-wallet by its supportive instruments.
Effectiveness Of E-Wallet Among Consumers

TABLE 4.12
TABLE SHOWING THE PURPOSE OF USING E-WALLET

PARTICULARS NO. OF PERCENTAGE

RESPONDENTS
MONEY 12 24%
RECHARGE 5 10%
UTILITY &BILL 16%
8
PAYMENT
ALL OF THE 25 50%
TOTAL 50 100%
(Source: primary data)

FIGURE 4.12: SHOWING THE PURPOSE OF USING E-WALLET

60%

50%

40%

30%

20%

10%

0%
MONEY TRANSFER RECHARGE UTILITY &BILL PAYMENT ALL OF THE ABOVE

INTERPRETATION

Out of 50 respondents, 24% of them are using e-wallet for money transfer and
10%/ are using e-wallet for recharge purpose and 16% of the are used for utility
&bill payment of several services and 50% of the respondents are used e-wallet
for all these purpose
Effectiveness Of E-Wallet Among Consumers

TABLE 4.13
TABLE SHOWING NUMBER OF USAGE OF E-WALLET

PARTICULARS NO. OF PERCENTAGE

RESPONDENTS
ONLY ONE 12 24%
5-10 TIMES 16 32%
MORE THAN 10 22 44%
TOTAL 50 100%
(Source: primary data)

FIGURE 4.13: SHOWING NUMBER OF USAGE OF E-WALLET

50%
45%

40%

35%

30%

25%
PERCENTAGE
20%
15%

10%

5%

0%
ONLY ONE 5-10 TIMES MORE THAN 10 TIMES

INTERPRETATION

Out of 50 respondents, 24% of them are only used once for e-wallet. 32% of
them used 5-10 times for e-wallet and remaining 44% used more than 10 times.
Effectiveness Of E-Wallet Among Consumers

TABLE 4.14
TABLE SHOWING SATISFACTION LEVEL OF E-WALLET
PARTICULARS NO. OF PERCE
RESPONDENTS NTAGE
VERY SATISFIED 16 32%
SATISFIED 17 34%
NEUTRAL 10 20%
UNSATISFIED 7 14%
TOTAL 50 100%
(Source: primary data)
FIGURE 4.14: SHOWING SATISFACTION LEVEL OF E-WALLET

40%

35%

30%

25%

20%
PERCENTAGE

15%

10%

5%

0%
VERY SATISFIED SATISFIED NEUTRAL UNSATISFIED

INTERPRETATION
Out of 50 respondents, The satisfaction level of 32% are highly satisfied with e-
wallet and 34% of them are satisfied. 20% of the respondent‟s satisfaction level
is neutral and 14% of them are not satisfied with e-wall.
Effectiveness Of E-Wallet Among Consumers

TABLE 4.15
TABLE SHOWING INTEREST IN CONTINUATION OF E-WALLET
USAGE
PARTICULARS NO. OF PERCEN
RESPONDEN TAGE
VERY LIKELY 11 22%
LIKELY 14 28%
NEUTRAL 17 34%
UNLIKELY 8 16%
TOTAL 50 50%
(Source: primary data)
FIGURE 4.15: SHOWING INTEREST IN CONTINUATION OF E-
WALLET USAGE

40%

35%

30%

25%

20%
PERCENTAGE
15%

10%

5%

0%
VERY LIKELY LIKELY NEUTRAL UNLIKELY

INTERPRETATION
Out of 50 respondents, 22% of them are very likely to continue the e-wallet
usage. 28% of the respondents are likely to use e-wallet service and 34% of
them are neutrally interested in e-wallet usage. Remaining 16% of them are not
satisfied in e-wallet service.
Effectiveness Of E-Wallet Among Consumers

TABLE 4.16
TABLE SHOWING OBSTACLES BY USING E-WALLET
SERVICES
PARTICUL NO. OF PERCENT
ARS RESPONDEN AGE
YES 18 36%
NO 32 64%
TOTAL 50 100%
(Source: primary data)
FIGURE 4.16: OBSTACLES BY USING E-WALLET SERVICES

36%

YES (36%)
NO (36%)

64%

INTERPRETATION
Out of 50 respondents, 64% of them have no obstacles by using e-wallet
services and 36% of them has some obstacles by using e-wallet.
Effectiveness Of E-Wallet Among Consumers

TABLE 4.47
TABLE SHOWING E-WALLET AS USEFUL MODE OF
PAYMENT

PARTICULARS NO. OF PERCENTAGE

RESPONDENTS
STRONGLY 38 76%
AGREE
STRONGLY 24%
DISAGREE 12
TOTAL 50 100%

(Source: primary data)

FIGURE 4.17: SHOWING E-WALLET AS USEFUL MODE OF
PAYMENT

80%

70%

60%

50%

40%
PERCENTAGE
30%

20%

10%

0%
STRONGLY AGREE STRONGLY DISAGREE

INTERPRETATION
Out of 50 respondents, 76% of them has the opinion that e-wallet is very
useful and remaining 24% of them are strongly disagree with e-wallet.
Effectiveness Of E-Wallet Among Consumers

TABLE 4.48
TABLE SHOWING BELIEF IN E-WALLET

PARTICULARS NO. OF PERCENTAGE

RESPONDENTS
SAFE & SECURE 31 62%
NOT SECURE 19 38%
TOTAL 50 100%
(Source: primary data)

FIGURE 4.18: SHOWING BELIEF IN E-WALLET

70%

60%

50%

40%

PERCENTAGE
30%

20%

10%

0%
SAFE & SECURE NOT SECURE

INTERPRETATION
Out of 50 respondents, 62% of them are belief in e-wallet transactions.
They agree that e-wallets are safe and secured. Remaining 38% of them
are not believe in e-wallet transaction.
Effectiveness Of E-Wallet Among Consumers

TABLE 4.49
TABLE SHOWING OPINION ON REFERENCE OF E-WALLET
TO OTHERS

PARTICULARS NO. OF PERCENTAGE

RESPONDENTS
VERY LIKELY 12 24%
LIKELY 22 44%
NEUTRAL 10 20%
UNLIKELY 6 12%
TOTAL 50 100%
(Source: primary data)

FIGURE 4.19: SHOWING OPINION ON REFERENCE OF E-

WALLET TO OTHERS

50%
45%
40%
35%
30%
25%
PERCENTAGE
20%
15%
10%
5%
0%
VERY LIKELY LIKELY NEUTRAL UNLIKELY

INTERPRETATIONS

Out of 50 respondents, 24% are very likely to suggest e-wallet to others 44% of
them are likely to refer e-wallet to friends and others 20% of respondents are
neutrally suggest e-payment service to others. And remaining 12% of them are
not interested to refer e-wallet.
Effectiveness Of E-Wallet Among Consumers

TABLE 4.20
TABLE SHOWING COST AND BENEFIT OF E-WALLET SERVICES
(COST)
PARTICULARS NO. OF PERCENTAGE
HIGH 22 44%
MEDIUM 15 30%
LOW 13 26%
TOTAL 50 100%

(BENEFIT)
PARTICULARS NO. OF PERCENTAGE
HIGH 24 48%
MEDIUM 21 42%
LOW 5 10%
TOTAL 50 100%
(Source: primary data)
FIGURE 4.20: SHOWING COST AND BENEFIT OF E-WALLET
SERVICES

60%

50%

40%

30% COST
BENEFIT
20%

10%

0%
HIGH MEDIUM LOW

INTERPRETATION
Out of 50 respondents, express their opinion about cost and benefit of e-wallet
services. 44% respondents opined usage of e-wallet is high cost & the 48% are
opined the e-wallet provide high benefit 30% respondents are opined for the e-
wallet service is an average and42% respondents opined e-wallet give an
average benefit and 26% respondents opined cost and benefit of e-wallet is low
 CHAPTER 5
FINDINGS, SUGGESTIONS
AND CONCLUSION
Effectiveness Of E-Wallet Among Consumers

FINDINGS
1. Majority of the respondents are belongs to the age of below 30..
2. Most of the respondents among them are salaried
3. Most of the respondents educational qualification is graduate
4. Most of the respondents have an income 20,000- 50,000 per annum.
5. Most of the respondents 50% of them spend 3-6 hours in a day
6. Most of the respondents of them are partially aware
7. Majority of the customers are really believe in e-wallet system. They are
sure that it is safe and secure.
8. Most of the respondents had got information relating e-wallet services
from social media. Most of respondents using internet .thus, they can
use easily.
9. Most of the respondents had purchased something through internet at
least once.
10. Most of the respondents choose e-wallet by the advantage of easy to
make payment.
11. Half of the respondents are using Smart-phone and they are mostly
made payment by using mobile-phones.
12. Most of the respondents are using e-wallet for the purpose of recharge,
bill payment, utility services and recharge.
13. Majority of them has used e-wallet more than times for payment.
14. Most of the customers are satisfied with e-wallet services.
15. Most of the respondents of them are neutrally interested in e-wallet
usage
16. 64% of customers has no obstacles over e-wallet payment.
17. Majority of respondents are strongly agreed that e-wallet is very useful.
18. Most of the respondents of them are belief in e-wallet transactions
19. Most of the respondents of them are likely to refer e-wallet to friends.
20. The cost and benefits of e-wallet is high.
Effectiveness Of E-Wallet Among Consumers

SUGGESTIONS
➢ The trade union should conduct class to aware advantages of e-wallet
services.
➢ Marketing and promotion should be conducted to create awareness
among nonusers.
➢ Discount offers and reward points on making payment through digital
wallet can increase its popularity and adoption as well.
➢ To increase the use of digital wallet, it is required to educate consumers
about the benefits of a digital wallet in simplifying streamlining their
purchasing experience.
CONCLUSIONS
The study was conducted to measure the effectiveness of e-wallet among
customers in NILAMBUR TALUK. The e-wallet services would make more
effective by conducing classes on advantages of e-wallet services. Majority of
the customers are interested in e-payment system and happy to continue the
payment always through online. Some of them fear in the security of e-wallet
services. The customers should adopt safe and secure application for safer
transactions such as applications forwarded by google, several banks, etc..
The study reveals that most of the customers are satisfied with e-wallet
payment system and some are not satisfied in certain areas and based on
finding suitable suggestions were given.
BIBLIOGRAPHY
BIBLIOGRAPHY

WEBSITES
• www. wikipedia.
• www.google.com
• www. sumhr • com
• www.socialbeat.in

BOOKS
❖ J. M. Spool, “Web Site Usability: A Designer‟s Guide,” Morgan
Kaufmann Pub, 1999.
❖ Ettlie, J. (1980). Adequacy of stages model for decisions on adoption of
innovation. Psychological Reports, 991-995.
APPENDIX
QUESTIONNAIRE
Sir/ Madam,
I am VINAYAK KV, a sixth semester B.Com Student and I would like to
conduct a study on “A STUDY ON EFFECTIVENESS OF E-WALLET
AMONG CUSTOMERS WITH SPECIAL REFERENCE TO
NILAMBUR”. I shall be obliged to you could fill up this Questionnaire
which is required for collecting data for B.Com dissertation. I assure you
that I will keep the date the confidential and use only for academic purpose.
Thanking You

NAME:
1) Age of the respondent
 Below 30
 30-40
 40-50
 Above 50
2) Occupation:
 Professional
 Self employed
 Salaried
 Other
3) Educational qualification
 Plus two or above
 Graduate
 PG
 Diplomat
4). Annual income
 Below 10,000
 10,000-20,000

 20,000-50,000

 Above 50000
5).Time spend over Internet
 1-3 Hours/Dav
 3-6 Hours/Day
 6-9 Hours/Day
 Above 9 Hours /Day
6).Awareness regarding functionality of E-wallet
 Fully Aware
 Partially Aware
 Not aware
7).information about E-wallet
 Social media
 Friends
 Magazine /Television
8) Previous purchase of goods and services over Internet
 Yes
 No
 Sometimes
9) Reason for using e-wallet than other mode of payment
 Time-Saving
 Easy to use
 Security
10) Medium Used for payment via e-wallet
 Smart phone
 Computer
 Both
11) Consideration of e-wallet against other sort of payment methods
 Alternate choice
 Substitute
 Supportive Instrument
12) Purpose of using e-wallet
 Money transfer
 Recharge
 Utility & Bill payment
 All of Above
13) No. of usage of e-wallet
 Only One
 5-10 Times
 More than 10 Times
14)Satisfaction level of e-wallet
 Very satisfied
 Satisfied
 Neutral
 Unsatisfied
15) Interest in continuation of e-wallet usage
 Very Likely
 Likely Neutral
 Unlikely
16) Obstacles by using e-wallet
 Yes
 No
17) E-wallet as useful mode of payment
 Strongly Agree

 Strongly
Disagree18)Belief in e-
wallet
 Safe and secure

 Not secure
19) Opinion on reference of e-wallet to others
 Very likely
 Likely
 Neutral
 Unlikely
20) Cost and Benefit of e-wallet services
 High
 Medium
 Low

21) Suggestions If any