Aditya Ajay Mehta
E-wallets have emerged as the most significant contributor in pushing cashless and electronic payments. The surge of smartphones and internet connectivity of 3G and 4G is reflected in the robust growth of mobile-wallets in India. The Indian market is still a cash-dominated market but if anything has managed to decrease that even a little, it has been the rise of mobile payments through the use of e-wallets like Paytm, Quikwallet, Tez, Mobikwik, etc. There was a need for quick, cashless and traceable transactions in the Indian system, e-wallets enabled this by being linked to the biometric details of the people through their Unique Aadhar number along with their mobile number and other key bank details. The consumer perception of digital payment has a significant and positive impact on the adoption of digital payment. The present paper focuses on the analysis of the adoption level of these digital payment systems by customers. This paper also throws light on issues like the impact of demonetization decision on preference for online payments, the impact of various demographic factors on the usage of e-wallets & problems faced while using e-wallets.
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