Open Access Open Access  Restricted Access Subscription Access
Open Access Open Access Open Access  Restricted Access Restricted Access Subscription Access

Exploring Digital Wallet Usage in the Indian Market


Affiliations
1 Symbiosis Centre for Management and Human Resource Development (SCMHRD), Symbiosis International (Deemed) University (SIU), Hinjewadi, Pune, Maharashtra, India
     

   Subscribe/Renew Journal


India is taking huge leaps towards digitalisation. The banking industry is at the forefront of this race. Many products like Unified Payments Interface (UPI) have been introduced to give impetus to digital payments. The aim of the study is to explore the actual usage of UPI payments in the Indian market, based on differences in personal traits of the consumers. The data was collected using a web-based questionnaire, from 253 respondents. Personal traits like age, gender, current place of residence, and occupation have been used as the input variables to study the actual usage of UPI payments. The results show that as the age of the respondents increased, there was a decrease in the actual usage of UPI. UPI payments are popular among students, but are less used by government employees, retired people, and housewives. UPI downtime and transaction security negatively impact usage of UPI payments.


Keywords

Keywords: UPI Payment, UPI Application, Personal Traits, Actual Usage, Wallet, Transaction Security, Server Downtime
Subscription Login to verify subscription
User
Notifications
Font Size


  • Sundarraj, R., & Wu, J. (2005). Using information-systems constructs to study online- and telephone-banking technologies. Electronic Commerce Research and Applications, 4(4), 427-443. doi:https://doi.org/10.1016/j.elerap.2004.12.001
  • Daniel, E. (1999). Provision of electronic banking in the UK and the Republic of Ireland. International Journal of Bank Marketing, 17(2), 72-83. doi:https://doi.org/10.1108/02652329910258934
  • Mols, N. P. (2001). Organizing for the effective introduction of new distribution channels in retail banking. European Journal of Marketing, 35(5/6), 661-686. doi:https://doi.org/10.1108/03090560110388150
  • Koenaite, M., Chuchu, T., & Villiers, M. V. D. (2019). The impact of mobile banking on the adoption of banking products and services in South Africa, using the technology acceptance model. Journal of Business & Retail Management Research, 13(3). doi:https://doi.org/10.24052/jbrmr/v13is03/art-09
  • Zhou, T., Lu, Y., & Wang, B. (2010). Integrating TTF and UTAUT to explain mobile banking user adoption. Computers in Human Behavior, 26(4), 760-767. doi:https://doi.org/10.1016/j.chb.2010.01.013
  • Groenfeldt, T. (2014). Digital banking: An expert guide on how to get there. Forbes. Retrieved November 27, 2015, from http://www.forbes.com/sites/tomgroenfeldt/ 2014/12/28/digital-banking-an-expert-guide-on-how-to-get-there/2/
  • Adeyanju, O. D. (2014). Code of ethics and professionalism: Implication for bank failure in Nigeria. Research Journal of Finance and Accounting, 5(19), 75-86.
  • Harasim, J., & Klimontowicz, M. (2013). Payment habits as a determinant of retail payment innovations diffusion: The case of Poland. Journal of Innovation Management, 1(2), 86-102. doi:https://doi.org/10.24840/2183-0606_001.002_0007
  • Amin, H., Hamid, M. R. A., Lada, S., & Anis, Z. (2008). The adoption of mobile banking in Malaysia: The case of Bank Islam Malaysia Berhad (BIMB). International Journal of Business and Society, 9(2), 43.
  • Moutinho, L., & Meidan, A. (1989). Bank customers′ perceptions, innovations and new technology. International Journal of Bank Marketing, 7(2), 22-27. doi:https://doi.org/10.1108/eum0000000001455
  • Flood, D., West, T., & Wheadon, D. (2013). Trends in mobile payments in developing and advanced economies. RBA Bulletin, 1, 71-80.
  • DemirgüCô-Kunt, A., Klapper, L., Singer, D., Ansar, S., & Hess, J. (2018). The global findex database 2017 – Measuring financial inclusion and the Fintech revolution. Retrieved January 19, 2019, from https://globalfindex. worldbank.org/
  • Merhi, M., Hone, K., Tarhini, A., & Ameen, N. (2020). An empirical examination of the moderating role of age and gender in consumer mobile banking use: A cross-national, quantitative study. Journal of Enterprise Information Management, (ahead-of-print). doi:https://doi.org/10.1108/jeim-03-2020-0092
  • Igbaria, M. (1995). The effects of self-efficacy on computer usage. Omega, 23(6), 587-605. doi:https://doi.org/10.1016/0305-0483(95)00035-6
  • Moon, J. W., & Kim, Y. G. (2001). Extending the TAM for a world-wide-web context. Information & Management, 38(4), 217-230. doi:https://doi.org/10.1016/s0378-7206(00)00061-6
  • Mukherjee, A., & Nath, P. (2003). A model of trust in online relationship banking. International Journal of Bank Marketing, 21(1), 5-15. doi:https://doi.org/10.1108/02652320310457767
  • McKnight, D. H., & Chervany, N. L. (2001). What trust means in e-commerce customer relationships: An interdisciplinary conceptual typology. International Journal of Electronic Commerce, 6(2), 35-59. doi:https://doi.org/10.1080/10864415.2001.11044235

Abstract Views: 24

PDF Views: 0




  • Exploring Digital Wallet Usage in the Indian Market

Abstract Views: 24  |  PDF Views: 0

Authors

Sujeeth Ungratwar
Symbiosis Centre for Management and Human Resource Development (SCMHRD), Symbiosis International (Deemed) University (SIU), Hinjewadi, Pune, Maharashtra, India
Vaishali Kamboj
Symbiosis Centre for Management and Human Resource Development (SCMHRD), Symbiosis International (Deemed) University (SIU), Hinjewadi, Pune, Maharashtra, India
Dipasha Sharma
Symbiosis Centre for Management and Human Resource Development (SCMHRD), Symbiosis International (Deemed) University (SIU), Hinjewadi, Pune, Maharashtra, India

Abstract


India is taking huge leaps towards digitalisation. The banking industry is at the forefront of this race. Many products like Unified Payments Interface (UPI) have been introduced to give impetus to digital payments. The aim of the study is to explore the actual usage of UPI payments in the Indian market, based on differences in personal traits of the consumers. The data was collected using a web-based questionnaire, from 253 respondents. Personal traits like age, gender, current place of residence, and occupation have been used as the input variables to study the actual usage of UPI payments. The results show that as the age of the respondents increased, there was a decrease in the actual usage of UPI. UPI payments are popular among students, but are less used by government employees, retired people, and housewives. UPI downtime and transaction security negatively impact usage of UPI payments.


Keywords


Keywords: UPI Payment, UPI Application, Personal Traits, Actual Usage, Wallet, Transaction Security, Server Downtime

References