E-Wallet As An Alternative Payment Tool in The Digital World

MANAGEMENT

The demonetisation has led to a huge increase in digital payments. With the emergence of governments such as Digital India and the increasing use of electronic and Internet is a means to stimulate the growth of digital consumption. This shift towards digital payment facilitates more transparency in transactions that empower the country's economy. In recent days many changes have been made to the payment system such as digital wallets, UPI and BHIM applications for smooth transition to digital payments. This paper discusses the services customers choose from paying banks. It also captures how easily / easily it helps payment banks increase their customer base. The role of demographic factors as determining factors for customers in selecting the payment banks studied in this paper. This paper also studies the effect of trust groups on the customer’s decision to choose a bank. Payment gateways have emerged as an important contributor to the Cashless push and electricity bills. Smart phone burns and 3G and 4G internet connectivity are reflected in the strong growth of payment gateways in India. The present study focused on customer preferences regarding payment gateways in relation to charges and risks and successfully analysed the impact of diversity on the use of payment gateways.

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