Adoption of Mobile Wallets in India : An Analysis

Usage of mobile phones in emerging economies presents unique opportunities to businesses. Mobile phones provide innovative solutions to online payments and in-store purchases. The acceptance of mobile payments also helps the marketers in promoting their offerings. The analysis of spends by customers can help identify their future requirements. The customers in India had been wary of payments by credit cards and debit cards. The attractive deals, discounts and cashbacks have attracted more customers to pay via mobile wallet (m-wallet). The Government of India is helping in the growth of fin-tech industry with various incentives and initiatives. The paper analyzes the various factors affecting the adoption of m-wallets by Indian customers. It also analyzes the types of transactions carried out by the customers and their preferences while selecting an m-wallet for payments