“Study On Factors Affecting Consumer Preference Towards Digital Wallets”

Abstract

- Digital wallets have become a part of our daily lives. We use it to make and receive payments day in and day out. We have our digital identity for the same. But India has been witnessing a surge in the use of the digital wallet system, especially after the demonetization. Again, due to the pandemic, undoubtedly there has been another surge in the use of the system. The objective of the paper is to identify the factors affecting consumer preference towards digital wallets with the help of extensive papers mentioned in the literature review section. The paper also consists of constructs related to the current pandemic. A There has been the use of primary data for the study. After the collection of the data via questionnaire, the input has been analyzed using Exploratory Factor Analysis. The 13 variables were compressed into 4 factors. These 4 factors should be considered by the digital wallet companies to gain their market share as well as acquire a new market.