A Study on Consumers Preferance of Mobile Wallets Gate Way for Cashless Payment at Pondicherry

Abstract

In today world smart phone has become important part of everyday life. As it has become more affordable the number of smart phone users has increased dramatically. Not only smart phones 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 mobile users can nowadays use their smart phone to make money transaction or payment by using applications installed in the phone. Besides payment people can also store receipt, coupons, business cards, bills, etc… in their smart phones. When smart phones can function as leather wallets, it is called ‘digital wallets’ or widely known as “mobile wallets”. The mobile wallets money is used in the various areas of the world business like banks, customers, and companies. The bank has taken a better position in providing a better transaction service and payment to the customer’s requirement. For customers are dragged by the shopping facilities that is given by mobile wallets and customers are attracted because of convenience and speedy transaction. In case of companies, the companies’ aims at providing facility o transaction service and payment choice to their clients and the multiple payment combination facility providing by the companies are attached to mobile wallets services. Mobile wallets are a type of payment service through which businesses and individuals can receive and send money via mobile devices. It is a form of e-commerce model that is designed to be used with mobile devices due to their conveniences and easy access. A mobile wallet is also known as mobile money or a mobile money transfer. A Study on Consumer’s Preference of Mobile Wallets Gate Way for Cashless Payment at Pondicherry.

This research made with a view to consumers preference towards usage of mobile wallets for cashless payment, consumers level of satisfaction in using mobile wallets, problem faced by the consumers in using mobile wallets.