A Study on Consumer Perception towards use of E-Wallet in Nagpur City

Abstract

E-wallet as part of a rapidly integrating financial technologies has become the key enabler of change across many sectors and industries, impacting business processes and consumer buying habits. The present work aims to analyze the attitudes towards the e-wallets in Nagpur city with specific regard to their effects on business facilitation and the consumers’ convenience. The paper looks into variables that facilitate the use of e-wallet, ease of use, security, convenience, speed and how these characteristics improves customers’ satisfaction and profitability of organisations. A survey in both structured quantitative form and follow up interviews were conducted among consumers and prospective business owners in Nagpur. The study shows that convenience, ubiquity and automation aspects are key drivers to the adoption of e-wallet, while the factors such as security concern and technological glitches act as inhibitors. The study also explores e-wallets systems and their impact of cashless society, effectiveness in business transactions as well as the convenience to the buyer. The findings in this paper are useful to policymakers, e-wallet service providers and merchants intending to encourage the use of digital payments in urban areas.