E-wallet service, an Initiative Towards Payment Digitalization

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K Rajagopal, Vaishali Mahajan, Shashi Bhatt


In the last few years, there has been immense growth of wireless technologies in India thereby giving a boost to digitization. Many people are switching over to the E -commerce platform to attain instant and safe transactions. E-commerce has become distinguished and preferred transaction platform among Indian people especially the youth and educated elite crowd. However, the usage of these wireless technologies in Rural is little sluggish but is definitely catching up and the momentum is really gearing up.

On the contrary the penetration of mobile phones and increased usage of Internet in tier-2 and tier-3 cities has been growing multifold which has given a big boost for E-wallets industry. With the ever- increasing mobile phone subscriber base and with the consistent slash in the tariff rates the usage of mobile, mobile data cards by the customers have increased drastically. Under these circumstances, the opportunities are ever increasing for players in the E-wallet industry.

Understanding the perception of E-wallets among the consumers and non-users will give a glimpse into the current market situation as well as the future trend. Demonetization has made the E-wallet industry one to look forward to as an exceptionally good option. Hence, one of the objectives of this research is to find the impact of demonetization on e-wallet usage among consumers. The research also aims to identify the reasons for popularity of Paytm as an E-wallet service, the factors responsible for satisfaction and perception of consumers about Paytm as a brand. The research also identifies the expectations of consumer from an E-Wallet Service and as well Paytm’s initiative to position the brand as a preferred E- Wallet Service today.


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