A study on E-wallet adoption among customers and businesses in Delhi

The phenomenon of Mobile Wallets in India has seen a spike in interest towards the cashless technology after the act of demonetisation that took place in November 2016. It is also observed that the government of India is encouraging the public to become cashless. This paper’s main goal is to identify factors that affect the intent to use mobile wallets in New Delhi. Moreover, the study aims to examine the acceptance of this technology within small businesses of Delhi and to know the most-widely used wallet services. In this study, the Technology Acceptance Model (TAM) is used to determine the factors related to the user’s intent to use the cashless wallets. The data for this study is analysed using Exploratory and Confirmatory Factor Analysis. In addition, various statistical tests such as Descriptive Statistics, Chi Square test, Kruskal Wallis test, and other non-parametric tests are also performed. Paytm wallet is considered to be widely used mobile-wallet among the users of Delhi. The research describes five major factors ‘ease of use’, ‘usefulness’, ‘secure’, ‘attitude’ and ‘risk’ that are driving consumer’s intention to use the services. It also analysed that these payment technologies are widely adopted in restaurant and grocery store businesses for payments. Hence, mobile wallets are slowly getting accepted among small businesses in Delhi. The results of this study would be useful for the government to frame their policies and for mobile wallet companies to know consumer’s intention regarding mobile wallets