Factor Affecting User Acceptance for Digital Wallets: A Developing Country’s Perspective

Abstract

A few years ago, the majority of Indians had never heard of a mobile wallet, but with the rise of smart mobile phones, lightning-speed internet connection utilizing 3G, 4G, and now 5G, and attractive rewards digital wallets give, its use has skyrocketed in recent years. The number of people using the internet is continuously getting larger around the world. As a result, the need for customer payment has altered dramatically. Cash settlements are a thing of the past. Digital payments are now giving rise to a stir. In the e-commerce business, the e-wallet has inclined popularity. E-Wallet transactions are becoming progressively popular as a replacement for cash purchases. Perception of consumers swapping from time to time with the improvement of the technology. So, this research paper attempts to study the awareness level among consumers of digital wallets. Also, this paper examines the factors accountable for increasing popularity of digital wallets in India.