THE FEASIBILITY AND USAGE OF E- WALLETS AMONG THE CONSUMERS IN KANCHIPURAM DISTRICT

Abstract

In today-world, smartphone has become important part of everyday life. As it has become more
affordable, the number of smartphone users has increased dramatically. The quantity of smartphone
consumers surpassed 2.5 billion in 2018-19 and predictably it will reach 4 billion in 2019-20. Along with
smartphone production, plenty of services have been created to utilize the possible functions of
smartphones. Not only smartphones are used as communication devices, but also to be used as socialized
tool, entertainment tool, internet access tool, and even payment tool. Thanks to technology, it will more
helpful to the customer in the pandemic (COVID-19) mobile users can in this situation use their
smartphones to make money transaction or payment by using applications installed in the phone. Besides
payment, people can also store receipts, coupons, business cards, bills…in their smartphones. When
smartphones can function as leather wallets, it is called “Digital Wallet” or widely known as “Mobile
Wallet” or E-wallet. Motivation of the research came from various factors. First of all, the mobile wallet is
a recent term. In other words, it is a “trendy” topic that has been discussed in technical forums and
financial websites in several years lately. One can see the word “E- Wallet” multiple times from the
internet, yet he does not know what mobile wallet is. Therefore, the research is made due to personal
curiosity to gain practical knowledge about E- wallet during the research process in order to understand
how consumers perceive this new technological service and to measure the level of satisfactions of
customers in kanchipuram district.