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com/

A STUDY ON USERS PERCEPTION TOWARDS SELECTED E-WALLETS

(GOOGLE PAY & PAYTM) AMONG COLLEGE STUDENTS

Dr.M.ESTHER KRUPA,
Assistant Professor, Department of Commerce, PSG College of Arts & Science

Ms. SHEKINA D
Student, Nirmala College for Women, Coimbatore

ABSTRACT
Cashless Transaction is the latest technology that has seen a tremendous growth in the
past year. Cashless payments are now becoming a popular trend in almost every field. The
usage of mobile wallets experienced massive growth in users. The users of e-wallet have been
increased after demonetization and Covid-19 among the college students. This study makes
an attempt to study users’ perception towards selected e-wallets. This study mainly
concentrates on google pay and paytm users. Primary and secondary sources are used to
collect the data. The primary source is collected through structured questionnaire from 150
respondents. The secondary data is collected through journals, magazines, etc., Various
statistical tools have been adopted to extract the output.
Keywords: users, e-wallet, perception, data

INTRODUCTION
E-wallet changes the traditional ways of making and receiving payments, paying
bills, money transfer, recharge, shopping, etc. It allows the users to make e-commerce
transactions quickly and securely. E-Wallet allows an individual to make electronic
transactions which include purchasing items on-line with a computer or using a
smartphone to purchase something at a store. It works electronically and it is also used for
transactions made online through a computer or a smartphone. It works as same as credit or
debit card. Now a day’s cashless payment are becoming a popular trend in every field. A
Digital wallet involves both a software and information component. Security, easy usage,
convenience and fair electronic payment systems are an important issue. It provides security
and encryption for the personal information and for the actual transaction.

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ADVANTAGES OF E-WALLETS

● It offers more convenience for many consumers

● It provides access to other types of cards
● It offers more security
● It can be used at most retailers and online stores
● It requires users to authorize every transaction
● It may offer access to new rewards

DISADVANTAGES OF E-WALLETS

● It is not fully available worldwide

● It still requires you to carry something
● It requires your devices to have a change
● It doesn’t eliminate your security risks
● It may change you more to process payments
● It could encourage reckless spending

STATEMENT OF THE PROBLEM

E-Wallet enables easy way of transactions with Android devices in-stores and on
supported websites, mobile apps and Google services, like Google Play store. Users link
debit or credit cards to their Google Pay account, which is used for making the transactions
for in-store oronline purchases. Google Pay and PayTm are considering hi-tech platforms for
money transactions and payments. Digital wallet transactions activities impact the
significant changes inthe behaviour of consumers. This study makes an attempt to analyze
and find out how the digital wallet transaction has caused a change in the behaviour of
consumers, factors influencing the users towards e-wallet, users satisfaction and problems
faced while using digital wallet payment.

OBJECTIVES OF THE STUDY

➢ To study the users preference towards Google Pay & PayTm.
➢ To identify the factors influencing users towards Google Pay & PayTm.
➢ To identify the problem faced by the users towards E-wallets transactions.
➢ To study the users level of satisfaction and suggestion towards Google Pay & PayTm.

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RESEARCH METHODOLOGY

 Source of Data:
A. Primary Data
● Data is collected through Primary and Secondary sources
● It is data which is collected directly from the users through a
questionnaire first data
B. Secondary Data
● Secondary data is collected through Magazines, Journals & Newspaper
 Sampling Method: Convenient Sampling
 Sample Size: 150 respondents
 Statistical Tool:
 Percentage Analysis
 Garrett Ranking Method
 Weighted Average Method

REVIEW OF LITERATURE

Tanzila Ayaz sayed et al (2018) in their study titled “A Study of consumer satisfaction level
and customer perception of e-payment app services with special reference to Pune city” stated
that e-payments app of private sector work more in advanced compared to public sector
app like BHIM. The most important conclusion is that Paytm is the most widely used e-
payment app with amarket share of 74%. The study is aimed to study the satisfaction level of
customers for convenience in payment transfer using e-payment app. The study motivational
factors which influence people to use e-payment app service in Pune city. The study found
that respondents agree that payments are user-friendly and comfortable. Respondents are
getting good discount offers and are satisfied with the payments app. The study concluded
that private app companies should keep on adding good features to the app. Payment app
companies should promote their services through various media.

Dr. Hem Shweta Rathore (2016) in her research paper “Adoption of digital wallet by
consumers” found that customers use mobile wallet because of convenience, one touch
method, and because of its time saving technology. Risk, Challenges and factors influenced

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consumers in adoption of digital wallet were also discussed in this paper.

Priyanka Jain, Dr. Shuchi Singhal (2019), found out that Electronic commerce (e-
commerce) have continuous impact on global business scenario, but mobile applications and
technologies have also begun to focus more on mobile banking, digital wallet, m-commerce
and the wireless web. Against the various backdrops, digital wallet (e-wallet) has emerged as
a new channel of distribution, without much research being devoted to its adoption.
Therefore, the present studies analyses most of the previous studies done on mobile banking
and digital wallet adoption. It also emphasizes the customers attitude towards adoption of e-
wallet.

Muddassir Masihuddin, Burhan UI Islam Khan & Rashidah F. Olanrewaju (2017) in

this paper aimed at investigating and increasing awareness about various concepts related to
Electronic Payment Systems (EPS) including its advantages, challenges and security
considerations. The proposed study also evaluates the adoption of e-payment systems and the
resulting impact on economy of a nation. From the study conducted, it can be elucidated that
despite various issues that usage of electronic payment systems pose, these are identified as a
positive step towards the economic development of a nation. Nevertheless, its full potential
can be realized only by raising its awareness among people. With the advancement in
technology and popularity of Internet, the perception of making online transactions is bound
to gain momentum. In the future, the payment modes currently used and supported shall see
a declining trend owing to the numerous benefits offered by electronic payment systems

Prof. Vijayashri Machindra Gurme, (2019) found out that E-Wallet money is used in the
various areas of the world business like and Companies, Banks and Customers. The Banks
have taken a better place in providing better bank transaction services and payment to the
customers' needs. For customers are dragged by the shopping facilities that are given by E-
Wallet and customers are attracted because of convenience and speedy transaction. In the
case of companies, the companies aim at providing facility of transaction services and
payment choice to their customers and the multiple payment combination facility provided
by the company are attachedto E-wallet service.

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ANALYSIS AND FINDINGS

Table No:1 PERSONAL PROFILE OF THE RESPONDENTS
Personal Factor Constructs Frequency Percentage (%)
Gender Male 101 63.7
Female 49 32.7
Age Below 18 years 21 14

18 - 20 years 105 70

Above 18 years 24 16
Educational Under graduation 133 88.7
Qualification Post graduation 14 9.3

Diploma 3 2
Family Less than Rs.20,000 33 22
Monthly Between Rs.20,000 - Rs.40,000 57 38
Income Between Rs.40,000 - Rs.60,000 30 20
More than Rs.60,000 30 20
Part-time job Yes 33 22
No 117 78
Part-time Less than Rs.2,000 2 6.1
Salary Between Rs.2,000 - Rs.4,000 23 69.7
Between Rs.4,000 - Rs.6,000 5 15.2

More than Rs.6,000 3 9.1

It is clear from the above table that majority (63.7) of the respondents are Male, who is
between the age group of 18-20 years (70%), 88.7% of the respondents are doing under
graduation, 38% of the respondents family monthly income is between Rs.20,000 - Rs.40,000,
78% of the respondents are not going for part-time job and out of the respondents going for
part-time job, 69.7% of the respondents part time salary is between Rs.2,000 & Rs.4000.

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Table No:2 E-WALLET PREFERRED BY THE RESPONDENTS

Factor Constructs Frequency Percentage
(%)
E-wallet Google Pay 111 74
preferred PayTm 28 18.66
Google Pay & Paytm 7 4.66
Influence to Friends & Relatives 102 68
use e-wallet Family members 19 12.6

Colleagues 10 6.6
19 12.6
On Own
Purpose of Money Transfer 101 67.3
using e-wallet Recharge 21 14
Bill Payments 21 14

Online Trading 7 4.7

Reason for Availing Discount 17 11.3
using e-wallet Premium Offer 8 5.3

Cash Back 46 30.7

79 52.7
All of the above
Frequency of Once a week 68 45.3
using e-wallet 5 - 10 times in a week 60 40

More than 10 times 22 14.7

Money spent Less than Rs.1000 64 42.7
using e-wallet Rs.1001 - Rs.5000 63 42
per month More than Rs.5000 23 15.3

From the table it is understood that majority (74%) of the respondents use Google pay, 68% of
the respondents are influenced by friends & relatives to use e-wallet, 67.3% of the respondents
use e-wallet to transfer money, 52.7% of the respondents use e-wallet for availing discounts,
premium offer and cash back, 45.3% of the respondents use e-wallet once a week and 42.7%
of the respondents spent Less than Rs.1000 per month using e-wallet.

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Table No: 3 FACTORS INFLUENCE TO USE E-WALLETS BY THE

RESPONDENTS

Factors Rank 1st 2nd 3rd 4th 5th Total Avg Rank
Value 75 60 50 40 25
(x)
Time Savings No 9 37 31 30 43 150
(F1) 44.8 4
Score 675 2220 1550 1200 1075 6720
Ease of use No 89 31 21 6 3 150
(F2) 66 1
Score 6675 1860 1050 240 75 9900

Cashless No 26 37 29 40 18 150
Payment (F3) 2
51.1
Score 1950 2220 1450 1600 450 7670

Convenience No 23 32 34 33 28 150
(24/7) (F4) 49.1 3
Score 1725 1920 1700 1320 700 7365

Security No 3 13 36 42 56 150
(F5) 39.2 5
Score 225 780 1800 1680 1400 5885

It is clearly understood from the above table that the respondents ranked ease of use as First
followed by Cashless Payment as Second, Convenience as Third, Time Savings as Fourth, and
Security as Fifth for the factors influencing users usage towards E-wallets.

Table No:4 LEVEL OF SATISFACTION TOWARDS FACTORS

GOOGLE PAY AND PAYTM OF THE RESPONDENTSs

Agreeability Very High High Neutral Low Very low Weighted

satisfaction satisfaction satisfaction satisfaction satisfaction Points Average

Value 5 4 3 2 1
Time Savings 30 50 60 10 0 150
3.67
150 200 180 18 0 548

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Ease of use 108 27 11 4 0 150

4.59
540 108 33 8 0 689

Cashless 67 60 23 0 0 150
Payment 4.29
335 240 69 0 0 644

Convenience 63 65 21 1 0 150
(24/7) 4.27
315 260 63 2 0 640

Security 51 58 40 1 0 150
4.06
255 232 120 2 0 609

The above table shows the weighted average analysis on the satisfaction level of the respondents
towards google pay and paytm. Ease of use has got the highest weight (4.59), followed by
Cashless Payment (4.29), Convenience (4.27), Security (4.06), and Time savings (3.67).
Table No:5 PROBLEMS FACED BY THE RESPONDENTS IN USING E-WALLET
Factor Constructs Frequency Percentage (%)
Problems faced Yes 74 49.3
No 76 50.7
Problems Lack of security of mobile payment 19 26.7
faced in using Too time consumption to transfer 26 35.1
e-wallet Involves danger of losing money 18 24.3

Cannot be used for 11 14.9

Internationaltransaction
Overall Very High Satisfaction 32 21.3
satisfaction High Satisfaction 93 62

Neutral satisfaction 24 16
1 0.7
Low satisfaction
Very Low satisfaction 0 0

It is found that 50.7% of the respondents have not faced any problem in using e-wallet, out of
74 respondents who faced problems in using e-wallet, 35.1% of the respondents opined that it

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take too much time to transfer amount. Overall 62% of the respondents are highly satisfied
with the e-wallet they are using.

SUGGESTIONS

 More cash back could be given for more transactions.

 Need some technology developmentin payment applications.
 Google Pay needs to improve login and logout facility.
 Sometimes the E-wallets create problems in sending of money where we feel
embracement that time when we fully depend upon e-wallets, so this error can be
rectified by the service provider
 Improve the Users interface and security
 Add some more key features in E-wallet services and update on regular basis
 E-wallets and other modes can be better by security systems and can make the tie up with
certain banks for transactions

CONCLUSION

E-wallet is one of those programs which is real pleasure to use and it has been so well
thought out. Host of features and the program remains so simple to use. Although E-wallet
still has some disadvantages in terms of interoperability and standardizationof security and
formats but still e-wallet is the best in transaction application compared to others.

This study results that all payments are made in one application and it is easily
accessible. Google Pay and Paytm provides a platform for their users for money transactions
and payments. It is an User-friendly application and no charge on transactions are made. The
growth of users of Smartphone and Internet penetration also facilitates the adoption of digital
payment. It indicates the adoption of Google pay & Paytm application is influenced by the
education level of the users. The lack of security and trust has been repeatedly reported. The
study concluded that development of ecommerce is a key factor for the growth of GooglePay
and Paytm application.

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REFERENCE
 Tanzila Ayaz Sayed, Dr. Vaibhavpatel, Dr. G.Gopalakrishnan(2018). International
journal of management, technology and engineering, volume:8, issue no:7 pg.no:
4442- 4453.
 Dr.Hem Shweta Rathore (2016) “Adoption of digital wallet by consumers”
BVIMSR’s Journal of management research. Volume 8 issue 1, pp 69-75.
 Priyanka Jain and Dr. Shuchi Singhal, “Digital Wallet Adoption: A literature
Review”, International Journal of Management Studies, ISSN(Print) 2249-0302
ISSN (Online)Pg.No. 2231-2528.
 Muddassir Masihuddin, Burhan UI Islam Khan & Rashidan F.Olanrewaju, “A
Survey on E-Payment Systems: Elements, Adoption, Archirecture, challenges and
Security conceptsDOI:10.17485/ijst/2017/v10i20/113930.
 Prof. Vijayshri Machindra Gurme, Department of Management, MIT School of
Management, Pune, Maharashtra - 411038, “ International Journal Of Engineering
Applied Sciences and Technology”, 2019 - Vol. 4, Issue 5, ISSN No. 2455-2143,
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 https://economictimes.indiatimes.com/topic/e-wallet
 https://www.zeebiz.com/topics/e-wallet
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wallet_Awareness_and_its_Usage_in_Mumbai
 https://www.ijeast.com/papers/195-198,Tesma405,IJEAST.pdf

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