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Payment Preference of Consumer’s through Digital Platforms


In the present era of the digitalisation everything is being digitalised. The light of digitalization also has a place in the banking sector. In the modern era, the banking and payment system goes online too. Firstly, after the demonetization in the year 2016 and secondly after the period of COVID-19 Pandemic the online payments, digital payment or cashless payments are on their growth period. In both of the situations these digital payments were helping the people a lot. So, the digital payments are those payments which made with the use of digital media like Cards, Online Gateways,

Mobile e-wallets:

Mobile E-Wallets or NFC (Near Field Technology). In these payments the user need not to carry the physical cash along with them if they having Mobile wallet enabled Smartphone with them. The most important factors in choosing a bank by customer are security, speed of transaction, friendship with customer, convenience and ease of use, trust and privacy issues. Modern financial system has gone through many changes in terms of payment processing system from traditional banking system to ATM/ Debit card, Credit card online payment, wire transfer, NEFT, RTGS etc. and the latest feather in the cap is digital wallet or E-wallet. But People are using a few services mostly fund transfer, bill payments and recharges etc. This One of the digital wallets is that an individual is not required to carry cash all the time, payments can be done or money can be transferred from any place to the respective people anywhere in the world. Digital wallets also helps in making fee payment, performing various banking activities, etc from anywhere and at any time, which helps in saving a lots of time and efforts (Tiwari, Garg, and Singhal 2019). Government’s vision of cashless and digital India, and promotion of financial inclusion policy.

To promote digital India and financial inclusion, the government is creating awareness about new payment technologies like mobile wallets, and other online platforms, which are unique and innovative for consumers. The government is providing incentives on various mobile wallet apps such a BHIM, Bharat Bill Payment System (BBPS) including monetary and non-monetary rewards to the users. This is likely to enhance the acceptance of mobile wallets in the country. Data has confirmed this trend and showed 21% increase in wallet transactions in 2018.

Mobile wallets are classified as prepaid instruments (PPI) by the Reserve Bank of India. There are three sorts of mobile wallets in India, to be specific, closed PPI, semi-closed PPI and open PPI. Closed PPI wallets are given by organizations to purchase products and enterprises just from that organization. A closed wallet doesn’t allow money withdrawal or recovery. Semi-closed PPI can be used to purchase merchandise and ventures from shippers that have an agreement with the backer to acknowledge payment. Open PPI wallets can be used to purchase products and ventures, pull out money at ATM’s or banks, and move reserves. These administrations must be together dispatched with a bank. The Government of India has likewise presented a mobile wallet called Bharat Interface for Money (BHIM) to encourage its citizens to use digital payments. It saves time. Mobile wallet is utilized in different regions like organizations, banks and clients. Organizations give payment decision to their customers and exchanges are made simple. Banks gives a simple exchange offices and clients are pulled in light of one touch payment technique which is more advantageous and efficient while shopping and different bill payments. Youthful clients are pulled in for energizes done through mobile wallet. There was an extreme development of mobile wallets after demonetization in India. Mobile wallets were the critical donor in pushing credit only and electronic payments.


has been found that, there was very little difference between mobile electronic wallet users at 58.3% were men and 41.7% were women. Respondents between 25 and 35 years old and under 25 years old. Most users have been preferred to use Mobile Wallets in the current days the tendency to pay through NFCbased Mobile wallets over the growing period. The respondents were paying the amounts and make the transactions sometimes with the use of mobile wallets and for this purpose Google Pay, Phone Pay and Paytm are the common apps, which were used by the most of the respondents on always and very often basis for Various types of recharges, bill payments, online shopping payments and fund transfers up to 3 or 4 digits mostly.

The main reason to operate the Mobile wallets and NFC because this technology is a convenient method to pay, private and fast method of paying the amount and making transactions. Respondents believed that the mobile e-wallets and NFC technology is more trustworthy due to less private info is required for operating the Digi-payment technology, it’s comfortable to manoeuvre and carry you need not to transport the physical cash if you have a Mobile wallet enabled Smartphone with you. The risk is associated with these payments that sometimes service provider, ask the irrelevant information from the users, some respondents concern about that some service providers may be track the personal information of the consumers, sometimes the transactions were not completed due to mobile and network issues, if something like this happens sometimes there are no timely reimbursements of the deducted amounts.



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