CHAPTER 1

INTRODUCTION

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Introduction :
A digital wallet, also known as an e-wallet or mobile wallet, is an electronic device, online
service, or software program that allows one party to make electronic transactions with another
party bartering digital currency units for goods and services. This can include purchasing items
either online or at the point of sale in a brick and mortar store, using either mobile payment (on a
smart phone or other mobile device) or (for online buying only) using a laptop or other personal
computer. Money can be deposited in the digital wallet prior to any transactions or, in other
cases; an individual's bank account can be linked to the digital wallet. Users might also have
their driver's license, health card, loyalty card(s) and other ID documents stored within the
wallet. The credentials can be passed to a merchant's terminal wirelessly via near field
communication (NFC ).

Increasingly, digital wallets are being made not just for basic financial transactions but to also
authenticate the holder's credentials. For example, a digital wallet could verify the age of the
buyer to the store while purchasing alcohol. The system has already gained popularity in Japan,
where digital wallets are known as "wallet mobiles".[1] In addition, a few US states have adapted
digital driver's license and state IDs to be added to digital wallet in lieu of the physical card and
it can be used at selected TSA checkpoints at airports, banking or enterprise.

A digital wallet has both a software and information component. Secure and fair electronic
payment systems are an important issue. The software provides security and encryption for the
personal information and for the actual transaction. Typically, digital wallets are stored on the
client side and are easily self-maintained and fully compatible with most e-commerce websites.
A server-side digital wallet, also known as a thin wallet, is one that an organization creates for
and about you and maintains on its servers Server-side digital wallets are gaining popularity
among major retailers due to the security, efficiency, and added utility it provides to the end-
user, which increases their satisfaction of their overall purchase.[4] The information component
is basically a database of user-input information. This information consists of your shipping
address, billing address, payment methods (including credit card numbers, expiry dates, and
security numbers), and other information.

Digital wallets are composed of both digital wallet devices and digital wallet systems. There are
dedicated digital wallet devices such as the biometric wallet by Dunhill,[5] a physical device that
holds cash and cards along with a Bluetooth mobile connection. Presently there are further
explorations for smartphones with NFC digital wallet capabilities, such as smartphones utilizing
Google's Android and Apple's iOS operating systems to power wallets such as Google Pay and
Apple Pay.

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Digital wallet systems enable the widespread use of digital wallet transactions among various
retail vendors in the form of mobile payments systems and digital wallet applications. The M-
PESA mobile payments system and micro financing service has widespread use in Kenya and
Tanzania,[6] while the MasterCard PayPass application has been adopted by a number of
vendors in the U.S. and worldwide.

Digital wallets are being used more frequently among Asian countries as well. One in every five
consumers in Asia are now using a digital wallet, representing a twofold increase from two years
ago. A MasterCard mobile shopping survey among 8500 adults, aged 18–64 across 14 markets,
showed that 45% of users in China, 36.7% of users in India and 23.3% of users in Singapore are
the biggest adopters of digital wallets. The survey was conducted between October and
December 2015. Further analysis showed that 48.5% of consumers in these regions made
purchases using smart phones. Indian consumers are leading the way with 76.4% using a smart
phone to make a purchase, which is a drastic increase of 29.3% from the previous year. This has
inspired companies like Reliance and Amazon India to come out with their own digital wallet.
Flipkart has already introduced its own digital wallet.

When did digital wallets start?

The history of digital wallets is older than you think. Coca-Cola deployed arguably the first
solution to appear close to a digital wallet in 1997. The soft drinks company installed two
vending machines in Helsinki, Finland, which accepted payment by text message.

Two years later PayPal launched its electronic money transfer services to handle the buying and
selling of goods over the internet. Unlike competitors Beenz and Floonz, PayPal decided against
launching its own online currency and instead focused on accepting fiat money.

2003 and 2007 saw the launch of Alibaba’s Alipay and Kenya’s M-Pesa, respectively. Both
offered payment options through mobile phones or mobile devices. M-Pesa has 37 million
customers across Africa, and Alipay has 1.3 billion users.

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A digital wallet refers to software, an electronic device, or an online service that enables
individuals or businesses to make transactions electronically. It stores the payment information
of users for different payment modes on various websites, along with other items such as gift
coupons and driver’s licenses. A digital wallet is also known as an e-wallet

Traditionally carried in the form of a smartphone app, a digital wallet can also exist in other
forms, such as a desktop. However, the mobile app is the most popular version of the digital
wallet, owing to its mobility and flexibility.

Digital wallets are not only convenient to use in certain cases but also safer than traditional
wallets. Users of digital wallets need to download the specific apps created by banks or trusted
third parties to avail of the service.

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What Is a Digital Wallet?
A digital wallet (or electronic wallet) is a software-based system or an application that runs on
any connected device. It stores your payment information and passwords of numerous payment
methods and websites. Digital wallets run primarily on mobile devices but may be accessible
from a computer — mobile wallets, which are a subset, are primarily used on mobile devices.

Digital wallets allow you to pay when you're shopping using your device so that you don't need
to carry your cards around. You enter and store your credit card, debit card, or bank account
information and can then use your device to pay for purchases.

There are different types of digital wallets available, and each type offers unique features and
benefits to cater to specific needs and preferences

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The Origin of Digital Wallets (Financial History, explain)

The concept of digital wallets can be traced further than you might expect—back to the early
days of the internet.

The first recorded online purchase was made in 1994 when a CD of Sting’s "Ten Summoner’s
Tales" was bought. Following that, digital wallet research skyrocketed and more and more digital
wallet applications were rolled out.

Key Milestones in Digital Wallet Development

Several key milestones have shaped the development of digital wallets:

 1999
: PayPal was launched and quickly became a popular payment method for online
transactions.
 2003
: Alibaba introduced Ali pay in China, revolutionizing the way payments were handled in
the region and setting a precedent for future digital wallets.
 2007:
M-PESA was launched in Kenya, providing mobile money transfer and financial services
— especially beneficial for unbanked populations.
 2009:
Bit coin introduced the concept of decentralized digital payments, paving the way for
crypto currency wallets.
 2011:
Google Wallet was introduced, allowing users to store card information and make
payments using their phones.
 2012:
Apple Passbook was launched, which later evolved into Apple Wallet, encompassing
more than just payment information.
 2013:
We Chat Pay integrated with the We Chat messaging platform, merging social media and
financeial transactions.
 2014:
Apple Pay was launched, followed by Android Pay and Samsung Pay in 2015, bringing
digital wallets to a broader global audience.

Of course, once digital wallets arrived on-scene, they didn’t stop improving and changing. The
past decade has brought wild changes in digital wallets—bringing them from a fringe high-tech
option to a universally-expected payment option
.
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What About The Last Few Years? The Impact of the COVID-19 Pandemic

The supply chain issues, logistical and financial challenges and general upheaval of the early
2020s only accelerated the adoption of digital wallets.
People sought contactless payment options en masse to minimize physical contact and boost
commerce options in a time when everyone was trying to stay at home as much as possible.
Digital wallets were the perfect way to accomplish that — which lead to their becoming a
mainstay in today’s economy.

Digital Wallets, Leveraged

Digital wallets have significantly changed — and supported upgrades to — the way we manage
and spend money. When used and implemented well, digital wallets can offer unmatched
convenience, security and flexibility

A performs of last years of digital wallets

Globally, the digital wallet market size was valued at USD 1,043.1 billion in 2019 and is
projected to reach about USD 7,580 billion by 2027, growing at a Compounded Annual Growth
Rate (CAGR) of 28.2% from 2020 to 2027. In 2019, India had 73.9 million people using digital
wallets. The estimated value of mobile transactions in 2020 across India was INR 36.5 trillion,
equivalent to USD 4.9 trillion. The value is expected to more than triple by 2024. The increased
penetration of the internet and smart phones and targeted government initiatives has spurred
growth in digital payments in India

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 Process of using digital wallets

Setting Up a Digital Wallet

1. Choose a digital wallet: Select a digital wallet service that suits your needs, such as Apple
Pay, Google Pay, PayPal, or Paytm.

2. Download the app: Download the digital wallet app on your smart phone or device from
the App Store (for iOS devices) or Google Play Store (for Android devices).

3. Create an account: Sign up for an account with the digital wallet service by providing
required personal and financial information, such as name, email address, phone number, and
bank account or credit/debit card details.

4. Verify account: Verify your account through an OTP (one-time password) sent to your
registered phone number or email address.

5. Set up security: Set up security features like password, fingerprint, or facial recognition to
protect your digital wallet account.

Adding Payment Methods

1. Link credit/debit cards: Add your credit/debit cards to the digital wallet by entering the card
details, such as card number, expiration date, and CVV.

2. Link bank accounts: Add your bank accounts to the digital wallet by entering the account
details, such as account number and IFSC code.

3. Add other payment methods: Add other payment methods, such as net banking, UPI (Unified
Payments Interface), or digital currencies like Bitcoin.

Making a Payment
1. Open the app: Launch the digital wallet app on your device.

2. Select payment method: Choose the payment method you want to use (e.g., credit card, debit
card, or bank account).

3. Enter amount: Enter the amount you want to pay.

4. Authenticate: Authenticate the transaction using a password, fingerprint, or facial recognition.

5. Confirm: Confirm the payment details and complete the transaction.

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6. Receive confirmation: Receive a confirmation of the transaction, including the transaction ID
and payment details.

Receiving Payments
1. Share payment info: Share your digital wallet payment information (e.g., email address, phone
number, or QR code) with the sender.

2. Receive payment: The sender sends the payment to your digital wallet using your shared
payment information.

3. Notification: You receive a notification about the incoming payment.

4. View transaction: You can view the transaction details in your digital wallet app.

Additional Features
1. Transaction tracking: View your transaction history and track your spending.

2. Rewards and offers: Take advantage of rewards, discounts, and exclusive offers from
merchants and financial institutions.

3. Security features: Use security features like two-factor authentication, encryption, and fraud
protection to safeguard your transactions.

4. Customer support: Access customer support for assistance with transactions, account
management, or technical issues.

Benefits of Using a Digital Wallet

1. Convenience: Digital wallets offer a convenient and hassle-free payment experience.

2. Security: Digital wallets provide an additional layer of security, protecting your financial
information.

3. Speed: Digital wallets enable fast and efficient transactions.

4. Rewards and offers: Digital wallets offer rewards, discounts, and exclusive offers from
merchants and financial institutions.

Common Digital Wallet Services

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1. Apple Pay: A digital wallet service for Apple devices.

2. Google Pay: A digital wallet service for Android devices.

3. PayPal: A digital wallet service for online transactions.

4. Paytm: A digital wallet service for India.

5. Amazon Pay: A digital wallet service for Amazon transactions.

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 security of digital wallets

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 a combination of protection against fraud, faster receipt of
payment, decreased transaction costs, and decreased theft loss.

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, they type their name, 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 their choice by
entering a user name and password for future purchases. Users can also acquire wallets at a
wallet vendor's site.

Most, if not all digital wallets offer advanced security features e.g. biometric authentication and
encryption, this protects the financial information of the users thus preventing fraud

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Types of Digital Wallet

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1. Closed Wallet

A closed wallet, also known as a power wallet, is a digital payment method that operates as a
preloaded account used for specific goods or services within a particular transaction, often linked
to the issuer’s payment gateway.

It can only be used to store the funds within this wallet to purchase from the issuer’s network of
merchants or service providers.

Companies or organisations often issue closed wallets to their customers for making payments
exclusively within their ecosystem.

Ola Money is a popular example of a closed wallet.

2. Semi-Closed Wallet
A semi-closed wallet has a limited coverage area.

It is accepted only within a specific network of merchants or service providers.

To accept payments from a semi-closed wallet, merchants must agree to partner with the issuer.

It allows you to make transactions at various merchant outlets and enables peer-to-peer transfers.
However, it cannot be used to withdraw cash or make payments outside the specified network.

Paytm wallet is a common example of a semi-closed wallet.

3. Open Wallet
An open wallet is a versatile digital payment tool that allows you to store funds and transact
across various merchants and platforms.

Unlike closed or semi-closed wallets, open wallets do not limit you to specific networks or
ecosystems.

To transact using an open wallet, both the sender and receiver should have the same app installed
on their devices.

This type of wallet offers convenience and flexibility, as you can make payments at any
merchant accepting digital payments via that wallet.

PayPal is a popular example of an open wallet.

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4 crypto wallets
A crypto wallet facilitates secure transactions using crypto currencies such as Bit coin,
Ethereum, Lite coin, etc.

It stores public and private keys required for initiating transactions on the block chain network.

The public key serves as an address where others can send crypto currency, while the private key
is used to securely access and manage the stored funds.

Crypto wallets can be software-based (online or offline) or hardware wallets that store the keys
offline for enhanced security.

Ledger and Trezor are widely used crypto wallets.

5. IoT (Internet of Things) Wallet

An IoT wallet is designed to enable secure and seamless transactions between interconnected
devices within the Internet of Things ecosystem.

It allows devices to exchange value and authenticate transactions securely.

IoT devices can include various hardware components, such as sensors, gadgets, appliances and
other machines that connect wirelessly to a network.

IoT wallets are crucial for various use cases, such as smart meters that facilitate automated utility
payments, connected vehicles that enable in-vehicle payments, and supply chain tracking where
devices interact to validate and record transactions.

Apple Pay and Google Pay are popular examples that enable the use of IoT technology to pay for
purchases.

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 Types of digital wallets

1 Googale pay

Google Pay is a popular digital wallet app available on iOS and Android platforms. With Google
Pay, users can shop online at thousands of available stores. With this digital wallet, users no
longer have to tap their cards on an NFC machine. They can wave their smart phone, and the
device automatically identifies the card linked to the Google account.

Key Features:
 Easy to Set Up and Use

 Send or Receive Money with Zero Fees

 Get Rewards with Every Payment

 Backed with World-Class Security System

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 2 pay pal
Paypal is a widely used digital wallet app that is available for both iOS and Android.
The app helps expedite the payment process because it lets you select your PayPal account at
checkout instead of entering your information each time you make a purchase manually.
Moreover, it allows users to see their past transactions to keep track of spendings.

Key Features:
 Safer with Every Transaction

 Allows You to Shop with Convenience

 Packed with Numerous Features

 Easy Withdrawal via a Bank or Credit Card

 Multiple Currency and Automated Conversion Process

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3 phone pay
Phone Pay or PhonePay Private Limited it is an Indian e-commerce payment service and digital
wallet company. Phone Pay was founded in the year 2015 by its founders, Mr Sameer Nigam
and Rahul Chari and it was the first payment app in India which was built on Unified Payments
Interface i.e (UPI). PhonePay is now available in 11 Languages. Phone Pay offers various
services such as:- i. User can send or receive money through Phone Pay app. ii. User can make
various payment- mobile recharges, DTH recharges, users can also make payments of shopping
online on various apps. iii. Phone Pe even allows users to book tickets through various apps such
as Redbus, Goibibo, Ola etc. Phone Pe app has more than 100 million users and it has crossed
more than 5 billion transactions. Latest development of Phone Pe app is that it allows its
customers to withdraw cash through its in app UPI feature which is also known as Phone Pe
ATM, which means that transferring the said amount which has to be withdrawn to a nearby
Phone Pe enabled merchant/ seller.

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4 paytm
PayTM:- PayTM is an Indian e-commerce operator and Financial Technology company. Paytm
was founded in August 2010 by its founder Mr. Vijay Shekhar Sharma. In 2014, the company
launched its first Digital E-wallet known as Paytm Wallet. Paytm offers Digital wallet payment,
mobile payments, online shopping, Paytm Payments Bank etc. In the year 2015, RBI gave
Licence to Paytm to launch Paytm Payments Bank which was later inaugurated in the year 2017
by the then Finance Minister Mr. Arun Jaitley. Paytm works in 2 different ways :- Paytm Wallet
and Paytm Payments Bank. Paytm is known as a digital payment system which allows you to
transfer money through your debit/credit cards and which also allows you to do online banking.
Once you register to Paytm you can make online payment of bills or you can make payment
through you paytm wallet by first adding money into your wallet.

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5 HDFC PAYZAPP
HDFC PAYZAPP:- PAYZAPP is a mobile payment app developed by HDFC Bank. Payzapp
allows customers to recharge their phones DTH recharges as well, pay utility bills such as
electricity bill etc, customers can buy movie, train, flight tickets, book a cab and can also shop
online. Customers can also send money to their family and friends and can also track their
expenses. Customer has to link their bank account with HDFC PAYZAPP app to enjoy the most
secure way of payment. You have to just scan a QR Code to make any payment in Payzapp app.
During the launch of Payzapp app, Aditya Puri the Managing Director of HDFC Bank said “ The
wallet we introduced under Payzapp, unlike other wallets, is not a pre-paid wallet. It reflects your
account and it reflects your credit card balance. More importantly it is one click. That is the
convenience.” How to start with Payzapp App:- i. First you have to download the Payzapp app
from Playstore. ii. Enter your registered mobile number i.e the mobile number which is
registered with your bank account. iii. Complete the registration process by reading all the KYC
steps. iv. The in the next step you have to link you bank account or your credit card with the
Payzapp app. v. You are ready to use Payzapp app.

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 Features of Digital Wallets

The following are some salient features of digital wallets:

In the past few years, we've seen an unmatchable revolution in mobile

financial services.

Millennials and younger, digitally-native generations expect nothing but the

best when it comes to their financial life. Many have already forgotten about
their physical wallets, because smartphones do the same job, but even better.

Always connected and empowered by technology, customers nowadays require

cutting-edge, highly-secured financial solutions that make payments as easy as
possible.

The Global Mobile Payment Market report states that the market is expected to
grow at an annual rate of 33% from 2019 to 2026, reaching $457.4 billion in
2026.

Banks, financial companies, telcos, and e-commerce businesses can't afford to

ignore the mobile financial services revolution any longer, especially
the digital wallets .

Moreover, they need to be more innovative than ever in order to provide

outstanding mobile wallet features that ensure not only high security but also
great customer experience.

So, what are the best features of a mobile wallet app that will make your
customers satisfied, loyal, and help your company stand out?

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1. Instant Payments Between Wallets

Instant payment means the money transfer between the payer wallet and the
payee wallet happens within seconds, instead of within hours or business days.

This feature provides great benefits, such as allowing payments anytime and
anywhere, making funds immediately available, and increasing the control of
personal and business funds.

In our cashless society, instant payments are more than a good feature. They
are becoming inevitable.

2. Payments To And From Bank Accounts

A mobile wallet should allow a seamless money transfer to any bank account,
including your own accounts in the same bank, as well as transfers to another
person's account in different banks.

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Mobile wallet owners should have a variety of options for sending and
receiving personal or business money with just a few clicks wherever they are
and whenever they need.

3. Bill Payments

This is one of the critical mobile wallet features because people today prefer to
pay every bill online - utilities, mortgages, loans, rent, tuition, to name a few.

As digital cash is here, mobile wallets are becoming an important part of daily
life and they should be able to provide an effortless bill payments solution - be
it a prepaid or postpaid payment service.

4. Management of Physical and Virtual Card Operations

Digital wallets can store a user's credit/debit card data, which can be used to
make money transactions at any time. In this way the e-wallet simplifies the
user's finances conveniently aggregating all their cards in one central space.

Furthermore, a mobile wallet is safer than carrying all your cards with you
because it doesn’t store card numbers. Instead, card data is encrypted with
high-grade security.

People today have a range of credit and loyalty cards. That’s why your mobile
wallet app needs to be ready to manage multiple card operations such as
blocking/unblocking your cards, changing your pin, changing your account
limits, applying for new cards, etc.

5. Merchant Payments via Contactless Technologies (NFC or QR code

Scanning )

Needless to say, in our digital world, more and more merchants have started to
realize the need for deploying various technologies that accept digital wallets.

Retail clients can make in-store payments using mobile wallets via contactless
methods like near-field communication (NFC) and QR-code.

NFC is a contactless remote technology that works within a close distance (up
to 10 cm) and provides people with secure payment between POS devices and
smartphones.

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QR code is short for Quick Response code and is very similar to a barcode.
The user can easily scan the QR code via the camera on a smartphone. The
smartphone interprets the barcode, and a related application or website opens.

Considering the ever-increasing user demand for contactless transfers and the
convenience it offers, providing NFC and QR payment is a must-have wallet
feature.

6. Security

When you provide mobile financial services, security comes first. Money
transactions have to be safe and secure from end to end.

Mobile wallets can be secured with plenty of robust technologies, such as

tokenization, passwords, biometrics, security questions, point-to-point
encryption, out-of-band authentication, and one-time password (OTP) via
SMS.

Despite the fact that digital wallets are more secure than credit cards, security
concerns remain the main obstacle to wallet adoption by consumers.

This is why you need to provide your customers with an m-wallet app that is
packed with powerful security capabilities.

7. Easy and Fast Self-Registration

As mobile wallets are all about saving people's time, efforts, and nerves, self-
registration should be absolutely easy and fast to accomplish.

Generally, self-registration has these steps:

 Download the app and run it

 Sign up by providing the required details (name, e-mail, phone, ID cards,
photos, etc.)
 Confirm registration (via OTP)
 Set up password and log in
 Link debit/credit card if necessary
 Add money and start using the wallet

Although the registration flow is a one-time procedure, it makes a crucial first

impression. So, don't underestimate the value of a seamless user experience for
the self-registration process.
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8. Rewards, Coupons, Discounts

The power of coupons and rewards is well-known among marketers and sales
teams. Mobile wallets are an ideal environment to provide deal-seeking
consumers with these benefits in a relevant context.

Therefore, features that allow the easy creation and managing of coupons,
discounts, tickets, loyalty points, etc. are key for a digital wallet solution and
can help your mobile wallet app stand out in the market.

9. Split Bill

When it comes to modern features simplifying people's everyday tasks,

splitting the bill is a no-brainer. And simplicity can be a powerful competitive
advantage for your mobile wallet app.

This functionality allows users to split the payment when going to dinner with
their friends, for example. It happens within the same app and is as easy as
selecting the phone numbers of the friends involved.

10. Cash In/ Out at Bank Branch or ATM

Holders of mobile wallets can make an ATM cash withdrawal without using a
physical credit card. They can also choose to withdraw cash from an
agent/branch bank.

When it comes to ATMs, NFC technology is used - the same contactless

technology that lets users pay by tapping their smartphone against a POS
terminal.

Despite our world becoming more and more digital, cash is still important in
many locations.

For example, if a user wants to buy fresh vegetables from a small pop-up shop
in the neighborhood, your mobile wallet app should be prepared to provide
them with this convenience.

11. Loan Origination

Loan origination is one of the mobile wallet features that meets the growing
demand for convenient, real-time banking.

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The loan origination process via a smartphone needs to be mobile-friendly,
fast, and as automated as possible.

Loan origination involves collecting customer application details, integration

with bank systems, instant approval supported by credit bureau integration, and
more.
12. Analytical Dashboards and Diagrams

Tracking personal financial health over time is essential for every customer.
We all need to stay on top of our money.

An analytical dashboard allows digital wallet holders to view and analyze their
personal financial operations through reports, figures, and diagrams.

Personal finance management provides users with all the information they need
to make informed financial decisions with a clear view of when, how, and
where they're spending and receiving their money - across all their accounts,
expenses, credit cards, and income.

13. Budgeting and Planning

Enables users to plan their finances smarter even when on the go.

Your powerful mobile wallet service needs to let users easily create budgets
and make plans for wise spending. This way you can empower your customers
to spot spending habits, track expenses, and save more.

A modern mobile wallet is able to act as a financial planner, providing options

like:

 setting a budget for each category of expenses

 creating categories for expenses and income
 sending reminders when users are close to exceeding their budget
 sending reminders when the bills are due
 setting savings goals

14. Backup Facility

A backup facility is a vital mobile wallet feature which allows users to restore
wallet data. Backup is often automatically embedded within wallet apps for
user data safety.

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The best option is to provide several different methods to protect user data,
such as: sync data to the Dropbox cloud, sync data to iCloud, built-in email
wallet backup feature, sync data via a local WiFi connection, etc.

15. Chatbot

Basically, a chatbot is a software program that interacts with people over the
internet. Assisted with artificial intelligence and neuro-linguistic programming
(NLP), chatbots aid customers when humans are not available.

It is a powerful new way for businesses to communicate with their audience,

keep their users engaged, and improve customer service.

By implementing a chatbot into your digital wallet app, your services become
available 24/7 at a lower service cost.

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Advantages and Disadvantages Compared to digital wallet
Payment Methods

The way we view money and payments is undergoing a seismic shift. Today's digital realm is
dominated by digital transactions, and it’s imperative to understand the merits and drawbacks of
using a digital wallet.

Advantages of Digital Wallet

Improved comfort
With all the necessary cards and other important data in an app, there is no need to keep dozens
of cards and papers inside of a wallet, purse, or backpack as well as for wasting time searching
for them. Everything you need is close at hand, easily managed, and easy to use.

Accessibility
Digital wallets go beyond borders, helping users make transactions anytime and anywhere with
an Internet connection.

This is super handy for travelers as they can make payments without needing local cash or
stressing about exchange rates. The worldwide reach of digital wallets fits right in with our
connected world, giving a new level of financial flexibility.

Time-Efficiency

Such an app allows the queues in the stores to move faster since the payment is
done in less than a minute. In the case of online shopping, the digital wallet saves
time on entering the credit card details and identification because everything is
already confirmed within the app.

Better Expenses Tracking

The information about all the transactions you do is stored inside the app, which allows you to
analyze it after each week or month in order to control the expenses better. If it is hard for you to
stay within a budget, you can set up limits for particular categories of expenses that will prevent
you from wasting too large sums of money.

Enhanced Security
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All the data you have in the app is encrypted and never sent to third-party organizations. So, the
online market you shop at will never know the details of your payment.

Moreover, the transactions have to be confirmed by you (fingerprint, password), and the digital
card wallet is additionally protected by your device’s security system (Face ID, fingerprints,
passwords).

It means that if someone steals or finds your smartphone, it would be hard to get access to your
money (unlike in the case of losing your wallet with all the cards and money).

Special Rewards
Some digital wallet platforms provide users with additional bonuses and special offers in order to
stimulate the utilization of their app. It means you not only get a chance to pay for your
purchases faster and simpler but also get pleasant perks.

Lower Costs
This benefit refers mainly to companies like stores that hire people to complete sales and take the
customers’ money. The growth of the digital wallet market will possibly eliminate the need for
cashiers at checkouts, saving companies a lot of money each month

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Disadvantages of Digital Wallet

Along with the perceptible advantages, the digital wallet revolution also brings some drawbacks
to consider. Here are the main of them:

Security Concerns

A big worry about digital wallets is security. Even with strong encryption and authentication,
digital transactions can be targeted by hackers and fraudsters. Bad actors might try to find weak
points in the digital system, get unauthorized access, and cause financial harm. Therefore, users
must stay alert and increase security by regularly changing passwords and monitoring their
transactions.

Compatibility Issues

Digital wallets aren’t everywhere. While big cities and developed areas usually love digital
payments, some places might not have the right setup for these techs. This can cause issues,
making digital wallets less effective in certain spots. Users might have to switch to other
payment methods if their digital wallet isn’t accepted.

Time and Money Investments

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In order to allow customers to pay with digital wallets, the companies have to get special
hardware or software facilitating those operations. Those companies that want to develop their
own digital wallet solution need to find software engineers with relevant experience and spend
money and time on the development.

Limited Merchants

Due to the reasons we mentioned in the previous point, not all merchants support digital wallets.
The adoption of digital wallets by consumers and businesses also depends on the popularity of
particular applications: one will likely be able to pay via Apple Pay rather than Chase Pay.

Dependency on a Device

It is very convenient to have everything you need inside of a smartphone unless it gets out of
charge, breaks down, or has problems with the network connection. If the device turns off right
before the checkout, you would better have a credit card or paper money in your pocket.

Reckless Spendings

Even though digital money has been around for a while, some people still tend to spend more
when they cannot see and touch real money. It means that regardless of the ability to monitor and
analyze their spending within the digital wallet app or in an online banking account, it might be
challenging to control your budget.

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 Scope of digital wallets in India

The speed of change in the way we behave, interact with and respond to things around us is
directly proportional to the speed of change in technology. The simple purpose of technology is
to provide us better comfort, better convenience and better options to carry out our daily affairs.
And when it comes to internet and mobile phones, we know how significant role they play in our
day to day activities. Similarly, this is true for the way we transact, purchase and carry out our
other financial transactions.

There was a time when employees/people used to get salaries/money in cash. They used to
collect it from the cashier in their offices/marketplace and they had to transact using cash only
for anything that they needed. Then came the concept of bank accounts (although banking was
there in India, but not a necessity to get salary). Employers started crediting the salaries in the
bank accounts of employees. But it had only one advantage that the deposited money was safe in
the custody of banks and employees used to withdraw required amount of cash
(daily/weekly/fortnightly/monthly) at the banks’ cash counter by filling up and presenting a pay-
in-slip. But there was not much improvement in the way people used to transact. Cash! Then
came ATMs and ATMs/Debit Cards. People used to reach out to the nearest ATM and withdraw
cash as per their requirements. This brought some convenience in the way people used to
withdraw money. No need to reach a bank on time, no need to be in long queue anymore and
even you could withdraw money on holidays. Then came so many other facilities/instruments
like Internet Banking, Credit Cards, Prepaid Cards, and Point of Sale (POS) Terminals and you
needed cash only to buy few basic things where you were not able to use your cards. We have
seen bank accounts, debit cards, credit cards, POSs terminals, prepaid cards and many more. The
purpose of introducing all these was to minimize the usage of cash and provide customers higher
level of convenience. Recently on 7th January 2015, ICICI Bank announced the launch of India’s
first contactless debit and credit cards, enabling its customers to make electronic payments by
just waving the cards near the merchant terminal in lieu of dipping or swiping them. These cards
are based on Near Field Communication (NFC) technology, which provides customers the
improved convenience of speed as these cards require significantly less time than the traditional
ones to complete the transactions along with enhanced level of security as they remain in control
of the customers.

The total numbers of debit cards and credit cards in India stands at 570 million and 21 million
respectively (approx.) at the end of May 2015. The number of POS terminal is approximately 1.2
million in India. The population of India being 1286 million today, on a very simple logic,
approximately 716 million people (56% of total population) in India do not have any instrument
(debit cards/credit cards) to carry out the cash-less transactions. In India not only bank account
penetration is comparatively low at 53% (according to a World Bank Report), but so is the use of
accounts for payments – mere 15% of adults reported using an account to make or receive
payments. This is the result after we saw government promoting inclusive banking since 2007
and PMJDY by current Central Government.

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But did it make a change? Yes, it did, but not to the extent we had expected it to be. This change
was not widespread. This was limited and was not accessible to majority of population because
of many reasonable/unreasonable reasons. Cash is still the strongest & easiest instrument to
transact. India has a long history of financial inclusion efforts, many of which fizzled out.

The number of mobile phone subscribers in India is approximately 940 million i.e. 77% of total
population. The mobile companies have been adding close to 5.9 million new customers every
month. A study by networking solutions giant Cisco states that In India, the number of smart
phones grew 54 per cent during 2014, reaching 140 million in number and the number of smart
phones will grow 4.7-fold between 2014 and 2019, reaching 651 million in number. Hence, it
suggests that we need to capitalize on the huge numbers of mobile subscribers in India for
enabling them transact using mobile phones as the bank account density is too small as compared
to mobile phone density in India. This presents a huge opportunity in the field of payments
through the use of mobile phones.

Now the latest Buzz around payments is “digital Wallets”. With the introduction of digital
Wallets, it seems extremely convenient for a person to do cashless transactions. And although, a
number of companies have cropped up in India, offering consumers ‘digital wallet’, there is still
a lack of awareness among people about the concept and its utility. But, what can be better than
exploiting the opportunity around mobile phones as the mobile phone density is much larger than
the bank account density in India!!! Use the thing that every Indian has!!!

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 CHAPTER 2
REASEARCH METHODOLOGY

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introduction
A research methodology describes the techniques and procedures used to identify and analyze
information regarding a specific research topic. It is a process by which researchers design their
study so that they can achieve their objectives using the selected research instruments. It includes
all the important aspects of research, including research design, data collection methods, data
analysis methods, and the overall framework within which the research is conducted. While
these points can help you understand what is research methodology, you also need to know why
it is important to pick the right methodology.

The introduction to a research paper is where you set up your topic and approach for the reader.
It has several key goals: Present your topic and get the reader interested. Provide background or
summarize existing research. Position your own approach

OBJECTIVES OF THE STUDY

1. To examine the preference of University students in Digital-wallets usage.

2. To analyse the impact of student’s education on usage of Digital-wallets.

3. To examine the student’s preference of digital-wallets over other digital payments.

AREA OF STUDY
The area chosen for the purpose of this study is selected university students of Mumbai

City

SAMPLING METHOD
For the present study, the techniques of convenience sampling (i.e. non-probability sampling) is

to be used. A due consideration should be given to the data collection so that the conclusion

comes out to be accurate .

SAMPLE SIZE

Sample size refers to number of elements to be included in this study i.e. 102 respondents .

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SOURCES OF DATA

Primary data:Data will be collected using survey method by structured questionnaire in this
study.

Secondary data:
Secondary data will be collected through various sources like Company Website, Magazines,

Internet source, etc.

TOOL USED FOR THE STUDY

The tool used for the purpose of this study is percentage analysis done using the help of
MSEXCEL.

LIMITATIONS OF THE STUDY

The following are the limitations that has been faced during this study

The age group of respondents has been particularly restricted because the respondents

were mostly university students.

The study is done specifically on university students and not on general customers

Despite the simple structured

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 CHAPTER 3
LITERATURE REVIEW

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Rajesh Krishna Balan, Narayan Ramasubbu, Giri Kumar Tayi studied in
their paper
“Digital Wallet:
Requirements and Challenges” (2006) that the requirements and challenges
of deploying a nationwide digital wallet solution in Singapore. Further they discussed why
Singapore is ready for a digital wallet and identified the key challenges in building and
deploying a digital wallet. Then discussed one of the key challenges, supporting peer –to-
peercash transactions between individuals using a digital wallet, in more detail and ended
the paper with their proposed solution.

Prof Trilok Nath Shukla in his paper “digital Wallet: Present and the Future” (June 2016)

has discussed about digital wallet, working, types and its advantages and disadvantages. His
analysis included perception of consumers and retailers about digital wallets. He concluded that
mobile wallets will be used to engage with the customer by the marketers and digital businesses.
Irrespective of the market status of these digital wallets, marketers should take advantage of the
emerging opportunities.

Dr. Poonam Painuly, Shalu Rathi in their paper “digital Wallet:

business transactions” (May 2016) has explained about mobile wallet, types and trends.
Thendiscussed about Role of mobile wallet in various sectors like Banks, Retail and
Hospitality.The paper explains the importance of mobile wallet for Banks, Customers and
Companies. Infuture scope it talks of mobile wallets becoming a latest marketing channel in
near future.And contribute highly in a seamless shopping experience for the customers
that increase theirtendency for frequent and more repurchases with delightful experiences. To
conclude theyspeak the importance and growth of mobile money in business, social and
economic prospective. The presence of mobile wallet spreading from urban to rural areas on a
largescale. Hence, wallet money sees a high bright future in near time.

Dr. Karminder Ghuman and CS Shruti Srivastava in their p

aper ““Recharging: the Right way ??

A case study on e-payment giants

: Free charge & PayTM”has asked readers a strategic
question that in the emerging internet based service provision industry, whether it is a better
strategyto develop a unique positioning
on the basis of single key service or it’s better for an organization to
offer multiple services, thereby reducing risk, increasing traction and thus increasing
its valuation?And thus they have compared Paytm and Free charge who are employing opposite
strategies to findout which one is better.
ThaeMin Lee in his paper
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 “The impact of perceptions of interactivity on customer trust and
transaction intentions in mobile commerce” (2005)

Investigated the impact of perceptions of interactivity on consumer trust and transactions in

mobile commerce andconcluded that trust does in fact play a significant role in determining
consumer transactionintentions. Hsin-Hui Lin and Yi-
Shun Wang in their paper “An examination of the
determinants of customer loyalty in mobile
commerce contexts” (2005) examined the factors
that contributed to customer loyalty in mobile commerce; perceived value and trust werefound to
be directly related to customer satisfaction and customer loyalty; customar satisfaction was also
suggested to positively affect customer loyalty; and habit was proposedto determine customer
loyalty. They also found that customer loyalty was directly affected by perceived value, trust,
habit, and customer satisfaction. Customer loyalty was evaluated to bea strong determining
factor in acceptance of mobile commerce.
Key Pousttchi and Dietmar G. Weidman
in their paper

“What Influences Consumers’Intention to Use Mobile Payments?” (2008)

studied the adoption of mobile payments andevaluated what key influences affected
consumers to use mobile payments and found thatsubjective security was not a primary driver of
mobile payment acceptance. They found that perceived confidentiality of payment details and
perceived trustworthiness were stronglycorrelated. Four key variables were found to directly
impacting consumer intention and usage behaviour: performance expectancy, effort expectancy,
social influence, and facilitatingconditions.

Shwetu Kumar, Vijay Yadav, Atiqu-Ur-Rahman, Aditi Bansal(2014), did a

study on Paytm”.

They examined on Paytm achievements, particular in designing, working anddevelopments of

Paytm which consolidated an examination on organizing a store, web progression, online gadget
and also depicted about electronic portion system.

Pooja A Patil conduc

ted a study on “pay through mobile”

which is popularly known asPaytm in august 2010 as a prepaid mobile recharge website the
objective of the study is to preand post effect of demonetization on paytm .secondary data is used
for the study. It can beconcluded that most them after demonetization have shifted to paytm.
Satisfaction was also suggested to positively affect customer loyalty; and habit was proposedto
determine customer loyalty. They also found that customer loyalty was directly affected
by perceived value, trust, habit, and customer satisfaction. Customer loyalty was evaluated to bea
strong determining factor in acceptance of mobile commerce
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Key Pousttchi and Dietmar G. Weidman
in their paper

“What Influences Consumers’Intention to Use Mobile Payments?” (2008)

studied the adoption of mobile payments andevaluated what key influences affected
consumers to use mobile payments and found thatsubjective security was not a primary driver of
mobile payment acceptance. They found that perceived confidentiality of payment details and
perceived trustworthiness were stronglycorrelated. Four key variables were found to directly
impacting consumer intention and usage behaviour: performance expectancy, effort expectancy,
social influence, and facilitatingconditions.

Shwetu Kumar, Vijay Yadav, Atiqu-Ur-Rahman, Aditi Bansal(2014), did a

study on
“Paytm”.

They examined on Paytm achievements, particular in designing, working

anddevelopments of Paytm which consolidated an examination on organizing a
store, web progression, online gadget and also depicted about electronic portion
system.

Pooja A Patil conducted a study on “pay through mobile”

which is popularly known as Paytm in august 2010 as a prepaid mobile recharge website the
objective of the study is to preand post effect of demonetization on paytm .secondary data is used
for the study. It can beconcluded that most them after demonetization have shifted to paytm.act
only used online but offline as well.

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 CHAPTER 4
DATA INTERPRETION

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In this survey responses from 102 people are taken

Sr.no age No % number

1 18+ 25.2% 26
2 25+ 48% 48

Q1 age group

3 40+ 20.6% 21

4 60+ 5.9% 7
100% 102
102 responses

interpretation:
according to the data wide participate of age of 25+ age group and 18+

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population response 26 (25%) and 40+ response 20% and 60+ response less
population are response of 102

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Q 2 gender

Sr no particular No. Percentage(%)

1 male 80 79.4%
2 female 22 20.6%

102 responses

Interpretation

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According the data, male 80(77.4%) and female22 (20.6% ) large participation of
male a responses are 102

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Q 3 Do currently use digital wallets ?

Sr.no particular No No%

1 yes 95 94.1%
2 no 7 5.9%
102 100%

102 responses

Interoperation

According the data 95 (94.1%) people use digital wallets 7 (5.9) people are not use
digital wallets a response more population use currenty digital wallets a response
102

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Q 4 how long you have been using digital wallets ?

Sr .no particular No No%

1 2004-2008 34 33.3%
2 2009-2012 23 22.5%
3 2018-2024 45 44.1%

102 100%
102 responses

Interpretation

According the data 2004-2008 use 34 (33.3%) person use digital wallets 2009-
2012 use 23 (22.5%) and 2018-2024 45 (44.1%) person use digital wallets .

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Q 5 which digital wallets fast transaction ?

Sr.no Particular No No %
1 Google pay 25 24.5%
2 Pay pal 34 33.3%
3 Phone pay 28 27.5%
4 All of above 14 13.7%
102 100%

102 responses

Interpretation

According to the response Google pay 25 (24.5%) pay pal 34 (34.3%) phone pay
28 (27.5%) all of above 14 (13.7%) fast transfer app a response of 102 person

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Q 6 are you benefit of use digital wallets ?

Sr no Particular No No%
1 Faster transaction 29 28.5%
2 Lower fees 42 41.2%
3 Discount 23 22.5%
4 Cash back 8 7.8%
102 100%

102 responses

Interpretation

According the response fast truncation 29 (28.5%) lower fees 42 (41.2) discount 23
(22.5%) cash back 8 (7.8) a benefits the digital wallets .

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Q 7 what do primary used your digital wallets for ?

Sr .no Particular No No %
1 Online shopping 26 25.5%
2 Bill payment 45 44.1%
3 Time saving 26 25.5%
4 Other transaction 5 4.9%
102 100%

102 responses

Interoperation

According the data response online shopping 26 (25.5%) and bill payment 45
(44.1%) and time saving 26 (25.5%) and other transaction 5 (4.9) a primary use
digital wallets bill payment and more population suggested online shopping a
response 102

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Q .8 which digital wallets is known for its reward and cash back
program ?

Sr no particular no No %
1 Google pay 21 20.6%
2 Phone pay 34 33.3%
3 Pay pal 34 33.3%
4 Whatsapp pay 9 8.8%
5 other 4 4%
102 100%
102 responses

Interpretation

According the data response Google pay 21 (20.6%) phone pay 34 (33.3%) pay pal
34 (33.3%) whatsapp 9 (8.8%) other 4 (4%) reward taken by people a response 102

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Q .9 how many digital wallets do you currently use ?

Sr.no particular no No%

1 1 20 19.6%
2 2 52 51%
3 3 24 23.5%
4 More than 4 6 5.9%
102 100%

102 responses

Interpretation

According the response 1 digital wallet use 20 (19.6%) 2digital wallets use 52
(51%) and 3 digital wallets use 24 (23.5%) 4 than more digital wallets use 6 (5.9) a
response 102

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Q .10 A started digital wallets what problem solve ?

Sr . no Particular No No %
1 Physical carry of 22 21.6%
money
2 Requirement of ATM 46 45.1%
3 Need of coin 25 24.5%
4 All of above 9 8.8%
102 100%

102 response

Interpretation
According the response physical carry of money 22 (21.6%) requirement of ATM
46(45.1%) need of coin 25 (24.5%) all of above 9 (8.8%) a problem solve a
response of 102

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Q .11 Are you secured digital wallets/ online payment ?

Sr. no Particular No No %
1 Yes 83 81.4%
2 no 19 18.6%
102 100%

102 responses

Interpretation

According the response secured the digital wallets selects’ yes 83 (81.4%) and no
selected the according the response 19 (18.6%) a more population secured fill the
using digital wallets suggestion a response 102

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Q .12 what types of payment method used commonly with digital
wallets ?

Sr . no Particular no No%
1 Debit card / credit card 26 25.5%
2 Net banking 53 52%
3 UPI 18 17.6%
4 All of above 5 4.9%
102 100%

102 responses

Interpretation

According the response debit card/credit card 26 (25.5%) net banking 53 (52%)
and UPI 18 (17.6%) All of above 5 (4.9%) a payment method use a response 102

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Q . 13 which smart phone you use digital wallets ?

Sr. no Particular No No %
1 I phone 32 31.4%
2 Realme 41 40.2%
3 oppo 22 21.6%
4 Samsung 7 6.9%
102 100%

102 responses

Interpretation

According the response I phone use 32 (31.4%) and realme use 41 (40.2%) oppo
use 22 (21.6) samsuing use 7 (6.9%) a digital wallets use a use more population
realme and less population use Samsung according phone are response 102

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Q .14 what features would you like to see added digital wallets

Sr .no Particular No No %
1 Without internet 38 37.3%
2 Without ATM 43 42.2%
3 More privacy 18 17.6%
4 Not track bank details 3 2.9%
102 100%

102 responses

Interpretation

According the response without internet 38 (37.3%) and without ATM 43 (42.2%)
more privacy 18 (17.6%) not track bank detail 3 (2.9%) a without ATM use digital
wallets a facture in digital wallets suggestion people a response 102

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Q .15 are you satisfied with using digital wallets ?

Sr. no Particular No No %
1 yes 97 96.1%
2 No 5 3.9%
102 100%

102 responses

Interpretation

According the data a satisfied the digital wallets 97 person a percentage (96.1%)
and a not satisfied 5 person a percentage (3.9%) a happy using digital wallets
more population and less population unhappy using digital wallets response of 102

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 CHAPTER 5
FINDING ,COCLUSION AND
SUGGUESTION

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Finding :

The project report titled ‘A digital wallets a response 102 a collected the primary
data and secondary a 102 response a collected the primary data and literature
review and same data are secondary data

1 a participate and resoponse a 18+ age 25.5% and 25+ age participate 48% and
40+ age participate 20.6% few parsentage response 60+

2 a high response of male 79.4% and low responses female 20.6%

3 according response currenty use digital wallets 94.1% and 5.9% not used digital
wallets

4 a used digital wallets 2004-2008 33.3% and 2009-2012 used 27.5% and 2018-
2024 use 44.1%

5 according the response fast transaction pay pal 34.3% and googal pay 24.5%
phone pay 27.5% and all above 13.7%

6 a benits using digital wallets fast transaction 28.4% and lower fees 41.2%
discount benit used 22.5% cash back 7.8%

7 a primary use digital wallets online shopping 25.5% and bill payment 44.1% time
saving 22.5% and bill payments 44.1% time saving 25.5% same parsentage other
benefits

8 a digital wallets know reward cash back phone pay 33.3% pay pal 33.3% pay pal
33.3% whatsapp pay 8.8% parsentage

9 a one digital used 19.6% and two digital wallets used 51% and tree 22.5% same
parsentage used same parsentage used more of three digital wallets

10 a started digital wallets solve the problem of physical currency 21.6%

requremet of ATM 45.1% need of coins 24.5% al of above 8% parsentage.
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11 a secure of digital payment 84.1% and response of secured 18.6% digital
wallets .

12 a debitcard 25.5% used digital wallets net banking 52% UPI 17.5%
RESPONSES

13 a used realme 40.2% I phone used 31.4% used oppo used 21% and samsaug
6.9%

14 a like feacher of without internet 37.3% and without ATM 42.2% and more
privacy 17.%

15 a sdisfied using digital wallets 96.1% and not sadisfied 3.9%

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Conclusion

E-Wallet is one of those programs which is a real pleasure to use and it has been so
well thought out. There are a host of features and the program remains so very
simple to use. Consumer can ignore all the customization and use it just as
effectively with the default settings and selections. Although D- Wallet still have
some disadvantages in term of interoperability and standardization of security and
formats but still D-Wallet is the best in transaction application compare to others.
This study shows that the three major factors which play an important role in
consumer adoption are convenience in Ease of use, quick online transaction and
usefulness of digital-wallet. Users of d-wallet are satisfied with the services
provided to them. But users are neutral about transaction safety and 96% 0f the
people are satisfied with the use of digital wallet.The most adored feature of digital
- wallet is that it is a hassle free mode of making an online payment. So, D-wallet
is performing well in terms of privacy, transaction time, discounts, offers and
customer satisfaction amore population use 2 and 2 or more digital wallets and
digital wallets use a lower fess of truncation and reward and cash back

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Suggestion

• Create a unique password for your digital wallet.

• Always use secure network connections.

• Avoid redirects during the payment process.

• Install apps from the sources you trust.

• Pay attention to the features

• Keep the payment information as secure as possible.

• Not share the password any person

•Not phone call provide password scam call

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CHAPTER 6
BIBLIOGRAPHY

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The information data related the project this project has been collected
from following

www.wikipedia. com

www.goggle. com

www.techtargets. com

www.hdfcbank .com

www.vipulprkason .com

www.mananprkason .com

www.investopedia .com

www.mobikwik.com

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CHAPTER 7
APPEXNDIX

Page no.
67
QUESTIONNAIRE

DIGITAL WALLET

gmail
Short answer text

Name
Short answer text

Q1. Age

18+
40+
60+

Q2. Gender

Male
Femle

Q3. Do you currently use digital wallet?

Yes
No

Q4. How long you have been using digital wallet ?

2004-2008
2009-2012
2018-2024

Q5.Which digital wallet fast transaction ?

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Google pay
Pay pal
Phone pay
All of above

Q6Are you benifit of using a digital wallet ?

Fast transaction
Lower fees
Discount
Cash back

Q7 What do primary used your digital wallet for ?

Online shopping
Bill payment
Time saving
Other transaction

Q8 Which digital wallet is known for its reward and cashback program?

Google pay
Phone pay
Pay pal
Whatsapp pay
Other
Q9. How many digital wallet do you currently use?

1
2
3
More than 3

Q10 A started digital wallet what problem solve ?

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Physical carry of money
Requirement of ATM
Need of coin
All of above

Q11 Are you secured digital wallet/online payment ?

Yes
No

Q12 .What type of payment method used commonly with digital wallet ?

Debit card /credit card

Net banking
UPI
All of above

Q13. Which smart phone you use digital wallet ?

I phone
Realme
Oppo
Samsang

Q14. What features would you like to see added digital wallet ?

Without internet
Without ATM
More privacy
Not trck bank details

Q.15 Are you satisfied with using digital wallet ?

Yes
No

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Form link project

https://docs.google.com/forms/d/e/1FAIpQLSclXwxPzn_UmZtvIw9xw17AXolnHMHhihUwoFTm7-
RQPWddDw/viewform?usp=dialog

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