Mobile Wallet Transforming India towards Cashless Economy

This paper examines the role of mobile wallet google pay digital payment in transforming India towards cashless economy. A self-administered questionnaire comprising of 16 questions with five point Likert scale yielded data for 386 digital payment users from India. In addition to the conventional principal axis factoring method, stepwise regression was also applied. Findings revealed a total accumulated variance of 63.94% for the three factors which were extracted using the PAF method. The three factors were customer friendliness, feasible facilities and cost benefit services which form the paramount framework of digital payments. Regression results further revealed that easy accessibility, financial services, cost saving, rewards, speed, hassle- free, use for purchase at store and efficiency had significant impact on usage of google pay digital payment method as a substitute to cash in India