The Behavioural Intention of Management Students to use Digital Wallet: An Indian Perspective

Abstract

With the advent of the digital economy that India is growing towards smartphone and its usage have almost become inevitable in all walks of life. Alongside the emergence of digital wallet and the shift of payment mode from cash or card to these wallets is quite apparent.

The purpose of this paper is to identify underlying factors that motivate management students in India to use digital wallets for transactions. With the arrival of various digital wallet platforms such as Google Pay, Paytm, Freecharge, BHIM, understanding the expectations of the users to match their satisfaction level is extremely crucial for wider adaptation of this mode of payment. After validating the reliability of the data collected inferences were drawn. Convenience to use digital wallets (Convenience), speed of the transactions (Speed), safety and security of the platforms for transactions (Trust), and instant updates of all the transactions (Real-time Information) are the factors that are significantly associated with the usage of increased digital wallets. Since India has one of the most populous working-class individuals who belong to the age bracket of 21 to 35 years, it is important to understand their consumption and payment patterns. This paper would be useful to service provides to identify the unseen opportunities and tune in the essential features to ensure a strategic outline of initiatives that they should take to increase the payments made digitally.