Abstract
Today's world is absorbed by digital technology and developments. From daily bread to business, from home to office, the implementation of electronic devices has become an integral part of life. The wallet has transformed the global payments ecosystem by offering multiple digital services, from utility payments to e-tailing. After demonetization, e-payment systems, mainly mobile wallets, have become a popular means of conducting transactions without physical presence. This study was conducted on consumer preferences, satisfaction, and issues when using mobile wallets for cashless payment. The study used the chi-square method to analyze and interpret the primary data of 80 respondents. The study implies that today's life is more important to mobile wallets such as Paytm, MobiKwik, Bhim, and free charge.
TopMotivation For The Work
The work in this chapter represents the study of consumers' preference for mobile wallets for cashless payment. It is also required to identify the factors attracting consumers to the usage of mobile wallets. The study also investigates the consumer satisfaction level in using mobile wallets. Here, we also understand the problem consumers face while using mobile wallets. The hypothesis is constructed to identify the issue of the users:
Hypothesis 2
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H0: The respondents' two attributes, gender and mobile wallet service, are independent.
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H1: The respondent's two attributes, gender and mobile wallet service, are dependent.
Key Terms in this Chapter
Mobile Wallet: A mobile wallet is a virtual wallet that stores payment card information on a mobile device.
Consumers: A consumer is a person or a group who intends to order, order, or use purchased goods, products, or services primarily for personal, social, family, household, and similar needs, not directly related to entrepreneurial or business activities.
Smartphone: A smartphone is a handheld electronic device that provides a connection to a cellular network and the internet.
Cashless Payment: In cashless transactions, payments are made or accepted without hard cash.
Chi-Square: A chi-square (? 2 ) statistic measures the difference between the observed and expected frequencies of the outcomes of a set of events or variables. Transaction: A transaction is a completed agreement between a buyer and a seller to exchange goods, services, or financial assets in return for money