“A STUDY ON DIGITAL MOBILE PAYMENT SYSTEM ADOPTION AMONG

YOUTH IN BANGALORE CITY”

CHAPTER- 01

INTRODUCTION

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INTRODUCTION

The widespread integration of smartphones and advancements in Near Field

Communication (NFC) technology are rapidly reshaping global digital payment systems. This
technological innovation empowers consumers to conveniently make purchases through
diverse payment modes using their smartphones, eliminating the need for multiple debit and
credit cards and streamlining the shopping experience. Digital wallets, specifically designed
for this purpose, mark a significant advancement in digital marketing, offering marketers a
new avenue to engage and serve customers with a more personalized touch. However, the
extent of benefits derived from digital wallets, both for businesses and consumers, hinges on
the pace of their adoption. While the idea of currency systems without physical coins has
historical roots, it’s only in the 21st century but technology supporting these systems has
become broadly accessible.
The adoption of mobile payments initiated in Japan during the 2000s and later spread globally
through various approaches. The initial first patent specifically outlining the “mobile payment
system” was submitted in the year 2000. This marked the beginning of a significant evolution
in the way financial transactions are conducted, later the extensive utilization of mobile
payment technologies on worldwide.

According to the European payments council (EPC), mobile payments are emerging as a
crucial tool for payment service providers (PSPs) and other industry players to capitalize on
new growth prospects. The EPC highlights that “innovative technology solution directly
enhance operational efficiency, leading to cost savings and an expansion of business volume.

Many banks have recently adopted technology into their banking apps, enabling customers to
instantly send money to friends and family directly from their bank accounts. Additionally,
mobile payments occur at physical stores by scanning a barcode with a mobile app, facilitating
transactions ranging from convenience stores to large, multinational retailers.

1.1 History of mobile payment

Throughout history, human beings have relied on some sort of
payment system to purchase the goods or services we wanted or needed. Starting with the
bartering system, humans began to use livestock, grain, shells, metal coins, pieces of white
deerskin, the wampum, gold, the gold-backed dollar, charge cards, credit cards, the U.S. dollar
and, most recently electronic payments.
In the early 2000s, mobile payments relied on SMS technology, allowing users to send text
messages to initiate transactions, with the amount charged to their mobile phone bills. By
2004, the introduction of mobile banking services enabled users to perform basic banking
transactions, such as checking account balances and transferring funds, via mobile devices.
In 2007, companies like PayPal and Google ushered in the era of mobile wallets, developing
applications that securely stored payment information on smartphones.

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The year 2011 marked the introduction of Near Field Communication (NFC) technology,
allowing users to make contactless payments by tapping their smartphones on point-of-sale
terminals.
In 2014, Apple disrupted the industry with the launch of Apple Pay, allowing users to make
payments using their iPhones and Apple Watches, leading to a significant shift in mobile
payments.
Following Apple's lead, 2015 saw the introduction of Android Pay by Google and Samsung
Pay by Samsung, expanding the availability of mobile payment options across different
platforms.
In 2016, India's government demonetized high-denomination currency notes, resulting in a
surge in digital payments and the rapid adoption of mobile wallets and Unified Payments
Interface (UPI) apps.
By 2018, peer-to-peer payment apps like Venmo and Cash App gained popularity,
particularly among younger users, for facilitating easy and quick peer-to-peer transactions.
In the 2020s, mobile payments continued to evolve, incorporating biometrics, increased
security measures, the exploration of Central Bank Digital Currencies (CBDCs), and
expansion into wearables and Internet of Things (IoT) devices.
Present mobile payments have achieved global adoption, becoming an integral part of daily
life across various regions. Mobile wallets, contactless payments, and QR code-based
transactions are now reflecting the widespread embrace of digital transactions by consumers
worldwide.

1.2 Growth of mobile payments in India

In India, the process of demonetization has played a pivotal role in driving the adoption of
digital payments. This move has allowed the government to implement various strategies
aimed at promoting a transition towards a cashless economy. The introduction of digital
payment methods serves the dual purpose of curbing the circulation of black money and
counterfeit currency. With the increasing prevalence of smartphones, mobile payments are
gaining prominence in India. Digital wallets, by providing faster and more convenient
payment options compared to traditional methods, empower merchants to enhance the overall
shopping experience, ultimately contributing to improved business performance. India has
witnessed substantial growth in financial technology (Fintech), reshaping the financial
services sector with a pronounced shift towards digital payment systems. With a population
exceeding 1.4 billion, India stands out as one of the most appealing markets for the adoption
of digital payments.
Several factors have propelled the digital transformation in India, driven by the government's
initiatives for digitalization, the surge in internet and smartphone accessibility, and the
flourishing e-commerce sector. The Indian government actively advocates digital

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technologies through initiatives like Digital India, make in India, and Startup India, aiming to
integrate digital advancements across sectors like healthcare, education, and agriculture,
while fostering a conducive environment for startup growth. The escalating internet and
smartphone penetration in India have significantly contributed to the expansion of the digital
ecosystem. As per a report by the Internet and Mobile Association of India, the country's
internet user count is on a continuous rise. This surge has also translated into a growing user
base for mobile wallets in India, projected to reach 900 million by 2025.
The surge in online transactions in India can be attributed to the introduction of digital
payment systems such as unified payments interface (UPI), e-wallets, and mobile banking.
Launched in 2016, UPI serves as a real-time payment system facilitating instant fund
transfers between bank accounts.
The Government of India has implemented numerous initiatives to foster and endorse
digital payments within the country. Aligned with the ‘digital India’ campaign, the
government strives to establish a ‘digitally empowered’ economy characterized by
being ‘faceless, paperless, cashless’. A variety of digital payment types and method
contribute to realizing this vision.
Since the introduction of cashless India, the country currently boasts ten digital payment
methods. These encompass approaches with a history of over a decade, some have become
popular recently, and others are relatively new.

1. Banking Cards

This payment method has been widely embraced for many years. Banking cards, available in
the form of debit or credit cards issued by banks or financial institutions, have allowed
customers to conveniently store their card details in mobile wallets. This feature streamlines
the process of purchasing goods and services, making transactions both convenient and swift.
Banking cards facilitate various digital transactions, including Point of Sale (PoS) terminals,
online transactions, and payment methods within mobile applications.

2. Unstructured Supplementary Service Data (USSD)

USSD, a protocol facilitating mobile services through short codes, allows users to access
mobile banking services seamlessly. Through USSD-based mobile banking, customers can
avail banking services by dialing a concise code on their mobile devices. This service proves
especially beneficial for individuals without smartphones or internet access.

3. Aadhaar Enabled Payment System (AEPS)

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AEPS, a payment system, empowers users to perform banking transactions through their
Aadhaar number and biometric authentication. Utilizing AEPS, individuals can withdraw and
deposit cash, as well as check their account balance, by leveraging their Aadhaar number and
fingerprint.

4. Unified Payments Interface (UPI)

UPI, a payment system established by the National Payments Corporation of India (NPCI),
facilitates real-time fund transfers between bank accounts through mobile devices. Launched
on April 11, 2016, it is regulated by the Reserve Bank of India. To avail UPI services, users
need an active bank account linked to their mobile phone number. UPI represents a
groundbreaking system that has simplified the payments landscape in India, offering a unified
platform for various transactions, encompassing person-to-person (P2P), person-to-merchant
(P2M), and bill payments.

5. Immediate Payment Service (IMPS)

IMPS, a real-time interbank electronic funds transfer service introduced by the NPCI,
allows users to instantly transfer money using their mobile devices or internet banking.
Operating 24/7, this service ensures immediate transfer of funds from the sender's account to the
receiver's account.

6. Real-Time Gross Settlement (RTGS)

RTGS is a mechanism employed for substantial interbank funds transfers within India. This
system facilitates real-time, gross basis fund transfers, ensuring each transaction is settled
individually. Primarily utilized for high-value transactions, RTGS is commonly adopted by
corporations and financial institutions.

7. National Electronic Funds Transfer (NEFT)

NEFT serves as a system for electronic funds transfers between bank accounts in India. It
empowers users to transfer funds from any bank account to another within the country
through Internet banking or mobile banking. This service is accessible at all bank branches in
India and is commonly utilized for low-value transactions.

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8. Mobile Banking

Mobile banking is a facility that enables users to conduct banking transactions via their mobile
devices. Accessible through a mobile app or mobile browser, these services empower users to
check account balances, transfer money, settle bills, and perform various other banking
transactions on their mobile devices. In essence, these payment systems have revolutionized
India's payments landscape, elevating user accessibility, security, and convenience.

Figure 1. Conceptual model

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1.3 Major global players sectors in mobile payment industry

 PhonePe

PhonePe, recognized as the initial Unified Payment Interface, was founded by Sameer Nigam,
Rahul Chari, and Burzin Engineer in December 2015, with its headquarters situated in
Bangalore, India. In 2016, it boasted 10 million users, and presently, it has surpassed 44 crore
registered users, with 20 crores engaging as monthly active users. Maintaining a leading
position by handling the highest number of UPI transactions, PhonePe accomplished 46.71%
of all UPI transactions in February 2023, totaling 351.9 Crore transactions and INR 6.2 Lakh
Crore during that period.

 Google Pay

On August 2, 2018, Google rebranded its Tez payment application as GPay. Within two
years of its introduction in India, Google Pay witnessed a surge in monthly active users,
reaching 67 million. A distinctive feature of this Google Pay application is its avoidance of
requesting users' usernames or telephone numbers, opting instead for the use of audio QR
codes. Users are not obligated to maintain funds within the app for making payments; it
serves as an extension of the user's bank account, utilizing a UPI pin to facilitate money
transfers and transactions. The volume of transactions on Google Pay has experienced a
significant upswing, escalating from 3 billion in August 2016 to an impressive 4127 billion
in August 2017. Google Pay's total annual transaction volume stands at $81 billion. In India,
GPay is utilized by 1.2 million enterprises and boasts 25 million users.

 Paytm

Paytm stands as a leading provider of digital goods, payment solutions, and mobile
commerce platforms in India. Established in August 2010, Paytm’s headquarters is located
in Noida, Uttar Pradesh. Initially focusing on prepaid mobile and DTH recharge services,

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Paytm has evolved to offer a diverse range of services. Currently, the platform is accessible in
11 Indian languages. Paytm enables users to make payments for mobile recharges, utility bills,
movie and event tickets, travel expenses, parking tolls, gasoline stations, pharmacies, and
more. This can be achieved using a QR code or an OTP generated within the app itself, even
without an internet connection.

 Amazon Pay

In 2016, Amazon initiated its operations in India by introducing a prepaid wallet service.
Subsequently, in the same year, Amazon launched its Amazon Pay UPI in the country. Vikas
Basal serves as the Director of Amazon Pay in India. Amazon Pay UPI allows users to
conveniently make daily transactions, including recharges and bill payments, without the
need to input their bank or debit card details for each transaction. In April 2020, Amazon
Pay India introduced a credit service, enabling customers to make monthly installment
payments. This initiative contributed to a significant increase in the user base, with Amazon
Pay reaching 50 million users.

1.4 Some of the common services provided by mobile wallets

 Money Transfer: Mobile wallet users have the capability to transfer money to other users,
merchants, or banks. This service is highly convenient as the entire process can be
completed within seconds.

 Ticket Booking: Mobile wallets enable users to effortlessly book train tickets, movie tickets,
flight tickets, and other types of tickets. Users can secure their tickets instantly without
enduring long queues.

 Bill Payments: Mobile wallets serve as a convenient means for users to settle their energy bills,
mobile recharge, DTH recharge, internet bills, and other payments. This solution eliminates the
need to contact billing agencies or banks.

 QR Code Payments: Transactions within mobile wallets are facilitated through QR codes.
Users can make payments for goods and services by scanning the QR codes of businesses or
sellers, ensuring a secure transaction with each unique code.

 Cashback and Rewards: Mobile wallet providers incentivize users with cashback and reward
points. These points can be redeemed for discounts or other services, enhancing the overall user
experience.

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 Loan Services: Some mobile wallets offer lending services, allowing users to apply for loans
through their mobile wallets with swift approval.

 Balance Checking: This feature aids users in staying informed about their account balance,
enabling them to track their budget effectively.

1.5 Advantages of mobile payment

• Convenience: Mobile payments allow users to make transactions anytime, anywhere, using
their smartphones. This eliminates the need to carry cash or cards and provides a quick and
convenient way to pay for goods and services.

• Speed and Efficiency: Mobile payments are often faster than traditional payment methods.
Users can complete transactions with just a few taps on their mobile devices, reducing the
time spent at checkout counters.

• Security Features: Many mobile payment systems incorporate advanced security measures
such as biometric authentication (fingerprint or facial recognition), encryption, and
tokenization to protect user data and financial information.

• Contactless Payments: With the rise of NFC (Near Field Communication) technology, mobile
payments enable contactless transactions, promoting a hygienic and efficient way to pay,
especially in situations like the ongoing global health crisis.

• Environmental Impact: Mobile payments contribute to a reduction in the use of paper

currency, which can have positive environmental effects by reducing the demand for
paper production and lowering carbon emissions associated with currency manufacturing
and transportation.

• Expense Tracking: Mobile payment apps often provide features for tracking expenses,
allowing users to monitor their spending patterns and manage their finances more
effectively.

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1.6 Disadvantages of mobile payment

• Network connectivity issue: In areas with poor network connectivity, youth may
experience difficulties in making mobile transactions, disrupting their ability to use mobile
payments reliably.
• Impulse spending: The ease of mobile payments could contribute to impulsive spending
behaviors among youth, as the quick and frictionless nature of transactions may
encourage unplanned purchases.
• Privacy issues: Youth might not fully consider the privacy implications of sharing personal and
financial information through mobile payment apps, potentially exposing them data breaches or
misuse of their personal data.
• Transaction fees and costs: Some mobile payment services may charge fees for certain
transactions. Youth may be more sensitive to these charges, impacting their willingness to adopt
mobile payments compared to traditional, fee-free methods.
• Limited financial literacy: Some young users may lack sufficient financial knowledge to
understand the terms and conditions, fees, and potential risk associated with mobile payment
apps, leads to over spending or financial mismanagement.

1.7 Challenges for youths in adoption towards mobile payments

Youths will face challenges in mobile payments because young individuals might face
difficulties when it comes to embracing mobile payment methods, some of the major
challenges faced by youth are.
• Lack of Digital Literacy: Despite the increasing popularity of mobile wallets, certain users
may hesitate to adopt them due to unfamiliarity or security concerns. This reluctance can
limit their overall usefulness and adoption.

• Fund and Transaction Limits: Despite being useful for payments, mobile wallets may not
provide the same features as physical wallets. Some mobile wallets may impose monthly
limits on usage.

• Technical Issues: Mobile wallets are dependent on technology, which may occasionally
malfunction. For instance, if a user's phone battery dies or they are in an area with poor
internet connectivity, they may encounter difficulties in using their mobile wallet for making
payments.

• Limited Acceptance: The rapid proliferation of mobile wallets may result in some merchants
not accepting all types, restricting their usefulness for users who wish to make payments at
these locations.

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• Security Concerns: Mobile wallets store sensitive financial data, such as credit card or bank
account details. There is a potential risk of compromise if a user's phone is lost or stolen, and
the constant threat of data breaches or hacking attacks adds to security concerns.

1.8 Role of mobile payments to increase youth’s contribution to the

nation’s GDP

• Entrepreneurship and innovation: mobile payment can empower young entrepreneurs by

facilitating easy and secure transactions, fostering innovation, and supporting the growth of
small business among youth.

• Digital skill development: Embracing mobile payments encourages the development of

literacy and skills among youth, preparing them for the digital economy and enhancing
their ability to contributing meaningfully to GDP growth.

• E-commerce growth: Mobile payment facilitating online transactions, promoting the growth
of e-commerce. This creates opportunities for youth participate in online business,
contributing to the overall economic output.

• Government revenue collection: Mobile payments can improve tax compliance as

transactions leave a digital trial. This helps government in efficient revenue
collection, contributing to national development projects and economic growth.

• Efficiency in financial management: mobile payments empower youth to manage their

finances more efficiently, promoting savings and investment behaviors that contribute to
overall economic stability and growth.

1.9 Internal and External factors majorly influencing in Mobile

payments. Internal factors
• Technology infrastructure: The availability and quality of a country’s technology
infrastructure play a crucial role in the adoption of mobile payments. A robust network
and widespread smartphone usage internally support the growth of mobile payment
services.

• Innovation and app development: Internal factors such as innovation in app

development, user interface design, and the introduction of new features can significantly
impact the adoption of mobile payment solutions.

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• Marketing and education: Internal efforts in marketing and educating the public about the
benefits and security measures of mobile payments can drive adoption rates. Awareness
campaigns and promotional activities contribute to internal acceptance.
• Customer support: Responsive and efficient customer support services contribute to user
satisfaction and trust. A reliable support system helps address issues promptly, fostering
positive user experiences.

• User experience: The design and usability of mobile payment applications significantly
impact user adoption. A seamless and user-friendly experience enhances user satisfaction
and encourages continued use.

External factors
• Regulatory environment: Government regulations and policies regarding mobile payments
can significantly impact the industry. Clear and supportive regulations promote growth,
while overly restrictive policies may hinder adoption.

• Competitive landscape: The presence and strategies of competitors in the mobile payment
market influence user choices. Healthy competition can drive innovation and improvements
in services and offerings.

• Culture acceptance: Culture attitudes toward new technologies and payment methods shape
the adoption of mobile payments. Cultural acceptance is crucial in influencing user
behaviors and preferences.

• Demographic factors: Demographic characteristics, such as age, income, and urbanization,

impact the target audience for mobile payment services.

• Cybersecurity threats: External cybersecurity threats, such as data breaches and

cyberattacks, can diminish user trust and confidence in mobile payment systems, affecting the
perceived safety of using such services.

1.10 Role of central and state government regards to mobile payment

1. Regulatory framework:
• Central government: Formulates national policies and regulations related to mobile
payments and digital transactions. This includes guidelines for mobile wallets, payment
banks, and other financial institutions involved in the mobile payment ecosystem.

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• State government: May have a role in implementing and enforcing regulations at the
state level. They may also work with local law enforcement agencies to tackle fraud and
other illegal activities related to mobile payments.

2. Financial inclusion:
• Central government: Works towards financial inclusion by promoting digital payments as
a means to bring unbanked and underbanked populations into the formal financial system.

• State government: Implements programs and initiative at the state level to encourage the
adoption of mobile payments, especially in rural and remote areas.

3. Security and consumer protection:

• Central government: Establishes security standards and regulations to ensure the safety of
digital transactions. Also, oversees consumer protection measures to safeguard the interests
of users.

• State government: Collaborates with local authorities to monitor and address

security issues, as well as ensuring that consumers are protected from fraudulent
activities

4. Infrastructure development:
• Central government: Invests in the development of digital infrastructure, including
secure networks and payments gateways, facilitate the growth of mobile payments at the
national level.

• State government: May contribute to the development of digital infrastructure to support

mobile payments, particularly in areas where access to digital services is limited.

5. Taxation and revenue collection:

• Central government: Establishes tax policies related to digital transactions and ensure
proper revenue collection from mobile payment services.

• State government: May have specific tax regulations or incentives related to mobile
payments within their jurisdiction.

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CHAPTER – 02
RESEARCH METHODOLOGY

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2.1 Review Of Literature:

1. Viswanath Venkatesh, James Y. L. (2012)- observing the research Unified Theory of Acceptance
and Use of Technology (UTAUT) to examine the adoption and utilization of technology within a
consumer context. Our proposed introduces three additional constructs to the UTAUT
framework: hedonic motivation, price value, and habit. We hypothesize that individual
differences, such as age, gender, and experience, moderate the effects of these constructs on
behavioral intention and technology use. The findings from a two-stage online survey, with
technology use data collected four months after the initial survey, involving 1,512 mobile Internet
consumers, supported our model.
https://www.jstor.org/ Vol. 36, No. 1 (March 2012), pp. 157-178 (22 pages).

2. S. V. Krishna Kishore Aloysius Henry Sequeira (2016) – Observing that Government of India
(GOI) initiated a financial inclusion campaign to address exclusion issues, but the progress fell
short of expectations. In an effort to expedite the process, the government turned to technology,
identifying mobile banking as a potential solution due to its extensive coverage in terms of mobile
phone usage. It became crucial to gather insights into the intentions of rural residents regarding
the adoption of technology for effective financial inclusion. Following a literature review, specific
factors influencing technology adoption, namely performance expectancy, effort expectancy,
social influence, attitude, perceived risk, and behavioral intention (BI), were identified. These
factors underwent reliability testing, exploratory factor analysis (EFA), multiple regression, and
interaction analysis. A survey was conducted in rural provinces in the state of Karnataka,
employing a mixed sampling technique to reach a sample size of 959 respondents. The results
from the multiple regression and interaction analysis highlighted that age and gender played
moderating roles in shaping the path from attitude to behavioral intention.

https://journals.sagepub.com/doi/full/10.1177/2158244016633731

3. RAVISH RANA (2017) – The widespread use of the internet, increased mobile penetration, and
government initiatives like Digital India have played pivotal roles, fostering exponential growth in
digital payment adoption. Digital payments refer to electronic consumer transactions conducted at
point-of-sale (POS) for various services and products, utilizing internet banking, mobile banking
through smartphones, or card payments. Consumer perceptions of digital payments hold
substantial importance and exert a positive influence on their adoption. To understand this
perception, a structured questionnaire was employed as a research tool, gathering primary data
from 150 respondents in Delhi. The analysis of responses involved utilizing ANOVA and
frequency analysis. The findings from ANOVA revealed that there is no significant variation in
consumer perception based on demographic factors such as gender, age, profession, and annual
income. Education was identified as a significant factor influencing the adoption of digital
payments.

https://smartlib.umri.ac.id/assets/uploads/files/7f1b5-study-of-consumer-perception-of-
digitalpayment-mode.pdf vol. 22, no. 3.

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4. Amit Shankar(2018) – identify the factors influencing the intention to adopt mobile payment
(mpayment) in India by proposing a conceptual framework rooted in the Technology Acceptance
Model (TAM). Beyond the TAM constructs, four additional user-centric elements are
incorporated to comprehensively assess m-payment adoption intention in the Indian context. The
proposed research framework underwent empirical testing using data collected from 381 potential
m-payment service users through a combination of online and offline surveys. Structural
Equation Modeling (SEM) was employed for data analysis. The results indicate that perceived
ease of use (PEOU), perceived usefulness (PU), trust, and self-efficacy (SE) significantly and
positively impact m-payment adoption intention. However, subjective norms (SN) and personal
innovativeness (PI) were found to have no significant impact on m-payment adoption intention.
https://journals.sagepub.com/, Volume 19 Issue 3_suppl, June 2018

5. Michael humbani, Melanie wiese (2018) – The technology readiness index was applied to
determine consumers’ readiness to adopt mobile payment services and the moderating effect of
gender. Gender has been identified as a key variable in adoption and its vital role in market
segmentation and gender empowerment obliges its inclusion. The results of the regression analysis
indicate that convenience and compatibility drive consumers’ adoption whereas risk, cost and
insecurity are inhibitors. Furthermore, gender moderates only the relationship between
convenience and the adoption of mobile payment services. Given the moderating effect of gender,
companies should initiate advertising campaigns targeting women opinion leaders in
advertisements, which can in turn encourage and educate other women to enjoy the convenience
of mobile payments. https://www.tandfonline.com/ , Journal of African Business Volume
19, 2018 – Issue 3:

6. Priyank Chandra, Vaishnav Kameswaran, Aakanksha Parameshwar, Sneha Joshi, Aditya Johri,
Joyojeet Pal (2018) – the study examined the environmental factors driving technology adoption,
juxtaposed with established transactional practices, trust issues, and control considerations. The
proposition put forward is that the shift towards digital payments should be seen as part of a
broader initiative for technology-driven modernity. This perspective emphasizes that the
motivation for these initiatives extends beyond just the efficiency or productivity gains offered by
digital payments. The adoption of digital payments was found to be influenced by various factors,
including the nature and scale of transactions, the type of products being sold, and individual
characteristics of business owners. Factors such as the shopkeepers’ comfort and familiarity with
digital technologies and online transactions played a crucial role. This study, conducted among
200 shopkeepers in Mumbai and Bengaluru, reveals that the scarcity of cash led to an initial surge
in digital payment adoption.

https://dl.acm.org/doi/abs/10.1145/3173574.3173803

7. M. S. Kokila, Dr. S. Gokula Krishnan (2019) – This innovative approach allows various
nonbanking financial entities to provide essential banking services to every Indian citizen.
Despite the success of the Pradhan Mantri Dhan Yojana in reducing the number of unbanked
individuals, millions in India still lack access to banking services. According to a World Bank
report, India is home to 21% of the world’s unbanked adults. Paper presents an overview of the

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awareness and

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usage of payment banks among college students in the city of Bangalore. Both primary and secondary
data sources are utilized, with students from various courses serving as the study sample. The
collected data is analyzed using appropriate statistical techniques, shedding light on the
importance of payment banks in India and their potential future impact.
https://papers.ssrn.com/sol3/papers.cfm?abstract_id=3349534 International Journal of Research, Volume VIII,
Issue II, February/2019
8. Sanuja shree PN, Dr. S Gurusamy, P Balaji (2019)- primary objective of the study is to investigate
the intention of mobile banking usage among young customers across both public and private
sector banks in India”. In this paper the researcher was adopted by employing survey method to
collect response from target population through convenience Sampling method. In this usage
intension variables have been reduced to five namely, convenience factors, benefits factor,
deliberation factor, safety factor, and trust factor, this are the influence in the project. The
collected primary data undergoes analysis using SPSS Version 23.0, involving statistical tools
such as percentage analysis, correlation analysis, factor analysis, and multiple regression analysis.
https://papers.ssrn.com/ Journal of Management, 6 (2), 2019, pp. 293–301.

9. Anjana George, Chafekali Sonawane, Disha Mishra (2021) – The study focuses on the three
most popular payment apps in India: Google Pay, PhonePe, and Paytm. The research population
consists of mobile wallet users in India. The researchers used convenience sampling by
distributing a questionnaire link through social media to collect responses. A sample of 120
responses was selected and analysed for the study. The findings suggest that since 2020, there
has been a significant increase in the use of mobile wallets, and this trend is expected to continue
in the future. The results indicate that mobile wallet usage will remain sustainable even after the
COVID-19 pandemic, although new techniques will be needed to maintain this growth. This
research is unique in that it utilizes a self-formulated methodology, with all references duly cited
and all information collected directly by the researchers.

https://www.ijcms.in/index.php/ijcms/article/view/ 102 Vol. 12 No. 3 (2021)

10. Sonal Purohit (2022)- Observed that the factors influencing mobile payment adoption among
generation Z in developing countries. The researcher utilizing partial least square structural
equation modeling, researcher identifies social influence, performance expectancy, impacting
behavioral intention to adopt mobile payments the study suggests that promotional offers, such as
discounts or cash-backs, are irrelevant to the intention to adopt mobile banking. Marketers can
leverage the insights from this research to formulate effective strategies for fostering the
sustainable adoption of mobile payments among Generation Z customers in developing
countries.

https://www.researchgate.net/profile/Drsonal-Purohit/publication Journal of Content, Community

& Communication Vol. 15 Year 8, June – 2022 [ISSN: 2395-7514

11. P. Anisha, Dr. M. Gautaman, A. Albin Vimal Raj, Dr. J. Justin Rayappa (2022) -
The banking sector has witnessed significant technological advancements, positioning it as a
leading service-based industry. E-payment systems, implemented by banks for various
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transactions, have

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created favorable opportunities for customers. M-payment systems, widely embraced by the
public, have become instrumental in facilitating quick transactions and are considered a key
element of core banking solutions. These systems have transformed the payment landscape by
promoting cashless and cardless transactions. The prevalence of mobile payment systems gained
even more prominence during the challenging times of the COVID-19 pandemic when people
were confined to their homes. Despite the pandemic, the adoption of E-banking and M-payment
increased by over 51%, resulting in approximately 253.2 crores worth of transaction. These
payment systems offer the convenience of linking credit cards, debit cards, and internet banking
credentials on a mobile platform. Mobile wallets have become a popular choice among customers,
particularly for bill payments and swift money transfers in the rapidly evolving economy. This
research focuses on assessing the awareness levels, satisfaction, and challenges faced by
customers regarding the M-payment system in Chennai city. Statistical tools such as ANOVA,
correlation, and Chi-Square were employed to determine significant relationships between
different variables. The study sheds light on customers’ attitudes toward M-payment systems,
particularly in the context of the COVID-19 crisis.
https://mail.journalppw.com/index.php/jpsp/article/view/4660 , vol. 6 No. 3 (2022)

12. Ms. Adithya Sudheer Kumar, Dr. T. M. Hemalatha, Ms. Pavithra V (2022) -
Observing cashless payment app facilitates the transfer of money through mobile devices,
enabling users to make digital payments to individuals or at payment terminals in stores. These
apps store debit and credit card information for convenient digital transactions. In 2019,
popular global cashless payment apps included PayPal, Venmo, Square Cash, Zelle, Google
Wallet, and Facebook Messenger. Mobile payment services in India incorporate various
technological advancements and offer enticing promotions to enhance user convenience. Users
can securely store multiple credit card details and bank account numbers within these mobile
payment apps.

https://journals.kozminski.cem-j.org/index.php/pl_cemj/article/view/391 , Vol. 30 No.4 (2022)

13. Mr. Mahabub Basha S, Dr. Kethan M (2023) – Observing individuals to conduct transactions and
access account details remotely at a minimal cost. Additionally, UPI and mobile payments offer
the flexibility to perform such tasks anytime, anywhere. While mobile payments are widespread in
urban and semi-urban areas, there are still challenges hindering widespread adoption. This
research aims to identify and analyze these issues by surveying 200 respondents from government
housing societies in Bangalore City. The study, based on primary data, employs one-way ANOVA
for analysis. The findings will contribute valuable insights to existing studies and future research
in this field.
https://hmjournals.com/journal/index.php/JCFMBS/article/view/1350 Vol. 3 No. 01 (2023): Dec
2022 – Jan 2023.

14. Dr. Sunil Patel, Mr. Yash Vaghela (2023) – Identifying the preferences in payment methods has
escalated with the evolution of numerous fintech companies adopting a user-centric approach to
streamline payment processes for customers. This study aims to comprehend the perceptions,
preferences, and obstacles that young individuals face in utilizing mobile wallets. A sample of
233 respondents, predominantly young individuals from various parts of Gujarat, participated in
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the

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study. Percentage analysis for different questions, t-tests, and crosstabulation were conducted to
derive meaningful insights. The outcomes of this study can prove valuable to app developers
seeking to understand customer behavior, offering insights that can contribute to the ongoing
development of their businesses.

https://www.boletindeliteraturaoral.com/index.php/bdlo/article/view/315 , Vol. 10 No. 1 (2023)

15. Mr. Narasimha Murthy H, Dr. Balu L (2023)- The emergence of smartphones has significantly
altered the landscape of financial transactions, with a surge in the use of mobile data leading to a
proliferation of firms offering mobile payment solutions. This surge has ushered in the era of
mobile wallets, transforming the way people send and receive money. Despite its numerous
advantages, the adoption of this technology remains low in rural areas. This study aims to explore
the adoption of mobile wallets in Bangalore Rural District by examining the motivating factors
and real-time challenges faced by users. It also investigates whether mobile wallets are merely
substitutes or genuine alternatives to traditional payment methods such as cash, debit cards, and
credit cards. The findings reveal that while mobile wallets are not widely adopted in rural areas,
they are viewed as substitutes rather than alternatives to traditional payment methods.

https://resmilitaris.net/index.php/resmilitaris/article/view/3334 Vol. 13 No. 2 (2023): Volume 13,

Number 2, 2023

2.2 Statement of problem:

The problem statement revolves investigating the adoption of mobile payment systems,
specially focus on the youth demographic. This study aims to understand how individuals
prior experience influence their adoption of mobile payment technology and the associated
challenges faced by young users in this context. It aims to address dynamics and implications
of varying levels of user experience in mobile payment adoption.

2.3 Objectives:

• To examine the level of experience in utilizing mobile payment system among targeted
youth group.
• To understand the challenges faced by youth in adopting mobile payments.
• To check the current status of the usage of Mobile Payment Applications among youth.
• To measure the usage preferences of Mobile Payment Applications.

2.4 Scope of study:

The scope of this study involves a thorough exploration of how past interactions with mobile
payment platforms influence the current and future usage patterns of youths. It aims to

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investigate how positive experiences, such as seamless transactions, user-friendly interfaces,

and robust security measures, contribute to fostering a positive attitude toward mobile
payments. Additionally, the research seeks to analyze the impact of negative experiences,
including security breaches, technical glitches, or unsatisfactory customer support, in creating
obstacles to adoption. The study will take into account various demographic factors, such as
age, socio-economic status, and educational background, to offer a nuanced understanding of
how diverse experiences shape the perceptions and behaviors of youths regarding mobile
payments.

2.5 Limitations:

 The study's results may lack generalizability if the survey respondents do not
represent the entire youth population in Bangalore, potentially due to sample bias
Research methodology.

 The study's data collection timeframe might be limited, possibly failing to capture
long-term trends or shifts in digital payment adoption among youth.

 The study might encounter difficulties in precisely gauging adoption rates and
identifying the factors that influence adoption, potentially resulting in errors in the
analysis.
 Limited participation rates or incomplete responses may impact the validity of the
study's conclusions.

2.6 Research methodology:

Designing a suitable methodology, the selection of analytical tools is important for

a meaningful analysis of any research problem. Here sampling design and types of data
collection are described.
Sampling Size
The sample size of study is 47 respondents.
Sampling Area
The research has selected the sample region situated in the southern part of Bengaluru.
Data Collection  Primary data
Primary data refers to data collected from firsthand experience directly from
the main source. It refers data that has never been used in the past. The data collection
methods are generally regarded as the best kind of data in research.
• Interview method: Interview are directed method of data collection. It is simply a process
in which the interviewer asks questions and the interviewee responds to them.
• Survey and questionnaires: Survey and questionnaires provide a broad perspective from large
groups of people. They can be conducted face to face, mailed
• Observations: Researchers observe a situation around them and record the findings.

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 Secondary data
Secondary data refers to data that has already been collected by someone else. It is much
more inexpensive and easier to collect than primary data. Here are some of the most common
secondary data collections.

• Website: A group of world wide web pages usually containing links to each other and
made available online by an individual, company or organization.
• Published articles: An article or piece is a written work published in a print or
electronic medium, for the propagation of news, research results, academic analysis or
debate.
• journals and books: writing or images can be printed or drawn on book pages.

2.7 Chapter Scheme

Chapter 1: Introduction.
Chapter 2: Research Methodology
Chapter 3: Data analysis and interpretation. Chapter 4:
Findings, suggestions and conclusion.

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CHAPTER 03
DATA ANALYSIS AND INTERPRETATION

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PROFILE OF RESPONSES

1. Analysis of gender:

3.1 Table showing the gender of the respondents

Gender No. of Percentage

respondents
Male 30 71%

Female 12 29%

Total 42 100%

Data Analysis: From the above table it is analyzed that 30 of the respondents are male and
rest 12 are female.

3.1.1 Graph showing the gender of the respondents

Analysis Of Gender

29%

Male
71% Female

Interpretation: From the above graph it is interpreted that the majority of the respondents are
male and the second majority are female.

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2. Age

3.2 Table showing the age of the respondents

Age No. Of Respondents Percentage

15yr-18yr 2 5%
19yr-21yr 3 7%
22yr-25yr 26 62%

26yr-29yr 11 26%
Total 42 100%

Data Analysis: From the above table it is analyzed that the respondents of the age group
15yr18yr are 2, 19yr-21yr are 3, 22yr-25yr are 26 and 26yr-29yr are 11.

3.2.1. Graph showing the age of the respondents

Age
5%
7%

15yr-18yr
26%
19yr-21yr
22yr-25yr
26yr-29yr

62%

Interpretation: From the above graph it is interpreted that the majority of respondents lies
between the age group 22yr-25yr are 62%, and the second majority lies in between 26yr-29yr
are 26%.

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3. Occupation:

3.3 Table showing occupation of the respondents

Occupation No. Of Respondents Percentage

Student 29 69%

Employed 11 26%

Unemployed 2 5%

Total 42 100%

Data Analysis: From the table it is analyzed that 29 respondents are student; 11 respondents
are employed and 2 respondents are unemployed.

3.3.1. Graph showing the occupation of the respondents

Occupation
35

30
29
25

20

15

10
11
5
2
0
Student Employed unemployed

Interpretation: From the above graph it is interpreted that the majority of the respondents are
lies in student.

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4. Income level (per month)

3.4 Table showing the income level of the respondents

Income level No. Of Respondents Percentage

Below 20,000 6 14%
20,000-30,000 14 34%
30,000-50,000 6 14%
No Income 16 38%
Total 42 100%

Data Analysis: From the above table it is analyzed that the majority of respondents fall into
the income range is "No Income" with 16 respondents. The second most common income
range is fall 20,000-30,000, with 14 respondents. The income range "Below 20,000 and
30,000-50,000" has the lowest number of respondents, with only 6 each.

3.4.1. Graph is showing the income level of the respondents

Income level

No income 38.1%

30000-50000 14%

20000-30000 33.33%

Below 20000 14%

0 2 4 6 8 10 12 14 16 18

Interpretation: From the above graph it is interpreted that the majority of respondents is 16
which indicates 38.1% reported having no income, indicating the surveyed population may not
be currently earning, and the next common reported income range is between 20000-30000
with respondents of 14 which indicates 33.33%. The other income below 20000 and 30000-
50000 having relatively low with respondents of 6 each and which indicates 14% each.

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5. Which digital payment do you use mostly

3.5 Table display the preferred digital payment methods and their anticipated usage.

Opinion 15yr-18yr 19yr-21yr 22yr-25yr 26yr-29yr

Mobile payment 4 3 17 8
UPI 5 2 22 8
RTGS 0 1 7 8
NEFT 0 0 6 7
Internet Banking 4 1 12 7
Debit & Credit card 4 1 15 8
Data Analysis: From the above table it is analyzed that the mobile payment Highest usage among the age group
22-25 years with 17 respondents. The age group 26-29 years also shows usage with 8 respondents. The age group
15-18 years and 19-21 years have relatively lower usage, with 4 and 3 respondents respectively. And next is UPI
the age group 22-25 years is the highest preference for UPI with 22 respondents. Both the age groups 15-18 years
and 26-29 years show moderate usage with 5 and 8 respondents respectively. The age group 19-21 years has the
lowest usage, with only 2 respondents. And next is RTGS the age group 22-25 years has the highest preference
for RTGS with 7 respondents. The age group 26-29 years also shows considerable usage with 8 respondents. The
age groups 15-18 years and 19-21 years have lower or no usage. And next is NEFT the age group 22-25 years has
the highest preference for NEFT with 7 respondents. The age group 26-29 years also shows usage with 6
respondents.
The age groups 15-18 years and 19-21 years have no reported usage. And next is Internet Banking The age group
22-25 years shows the highest usage of Internet Banking with 12 respondents. The age group 26-29 years also
exhibits significant usage with 7 respondents. The age groups 15-18 years and 19-21 years have lower usage, with
4 and 1 respondent(s) respectively. And next is Debit & Credit card the age group 22-25 years shows the highest
usage of Debit & Credit cards with 15 respondents. The age group 26-29 years also exhibits considerable usage
with 8 respondents. The age groups 15-18 years and 19-21 years have lower usage, with 4 and 1 respondent(s)
respectively.

3.5.1 graph display the preferred digital payment methods and their anticipated usage.

DEBIT & CREDIT CARD

INTERNET BANKING
NEFT
RTGS
UPI
MOBILE PAYMENT
0 5 10 15 20 25
26 yr-29yr 22 yr-25yr 19 yr-21yr 15 yr-18yr

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Interpretation: From the above graph interpreted that mobile payment were using everyone but
compare to other age group, 22yr-25yr age group will be using more and Similar to mobile payments,
UPI is most popular among individuals aged 22yr-25yr, with 22 respondents. The age groups 15yr-18yr
and 26yr29yr also show interest, with 5 and 8 respondents, respectively. RTGS is not as popular among
respondents in the 15yr-18yr age group and is chosen by only 1 respondent in the 19yr-21yr age group.
Individuals aged 22yr-25yr and 26yr-29yr show a moderate interest in RTGS, with 7 and 8 respondents
respectively. NEFT has minimal preference in the 22yr-25yr and 26yr-29yr age groups, with 6 and 7
respondents, respectively. It is not preferred by individuals in the 15yr-18yr and 19yr-21yr age groups.
Internet banking is relatively popular across all age groups, with the highest preference in the 22yr-25yr
age group 12 respondents the age group 26yr-29yr also shows notable interest, with 7 respondents.
Similar to internet banking, debit and credit cards are also popular across all age groups, with the
highest preference in the 22yr-25yr age group 15 respondents.
The age group 26yr-29yr also shows significant interest with 8 respondents.

6. How often do you utilize your smartphone for digital payment

3.6 Table showing the usage of smart phone for digital payment of the respondents

Opinion Daily Weekly Monthly Rarely

15yr-18yr 5 1 3 7
19yr-21yr 6 4 6 1
22yr-25yr 23 8 4 3
26yr-29yr 11 3 1 1

Data Analysis: From the above table it is analyzed that from the age group 15yr-18yr daily
usage is reported by 5 respondents, while 7 respondents use smartphones for digital payments
rarely. 3 respondents will use monthly 1 respondent will use weekly. From the age group
19yr21yr daily usage is 6, weekly usage is 4, monthly usage is 6, rarely usage is 1. From age
group 22yr-25yr daily usage is 23, weekly usage is 8, monthly usage is 4, rarely usage is 3.
From age group 26yr-29yr daily usage is 11, weekly usage is 3, monthly usage is 1, rarely
usage is 1.

3.6.1 Graph showing the usage of smart phone for digital payment of the respondents

23

11
8 7
5 6 6
1 4 3 3 4 1 1 3 1
DAILY WEEKLY MONTHLY RARELY
15yr-18yr 19yr-21yr 22yr-25yr 26yr-29yr

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Interpretation: From the above graph interpreted that the data represents the frequency of
smartphone utilization for digital payments across different age groups. Individuals aged
22yr25yr exhibit the highest daily usage 23 respondents, indicating a strong reliance on
smartphones for digital transactions. Meanwhile in 15yr-18yr age group predominantly use
smartphones for digital payments rarely 7 respondents. Generally, respondents in the 19yr-
21yr and 26yr-29yr age groups display varied usage patterns, with the former utilizing
smartphones mostly on a weekly basis and the latter primarily on a daily basis.

7. Which mobile payment app are you currently using

3.7 Table showing current usage of mobile payment app by respondents

Opinion No. Of Respondents Percentage
PhonePe 20 48%
Google pay 16 38%
Paytm 5 12%
Other 1 2%

Data Analysis: From the above table it is analyzed that PhonePe is using by 20 respondents,
and Google pay is using by 16 respondents, and Paytm is using by 5 respondents, and 1
respondent is using some other mobile payment application.

3.7.1. Graph showing current usage of mobile payment app by respondents

Other
Paytm
2%
12%

Phonepe
Phonepe Google pay
48%
Paytm
Other

Google pay
38%

Interpretation: From the above graph interpreted that PhonePe higher usage the most popular
choice, with 48% respondents favoring this platform. Following closely, Google Pay is the

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second most used mobile payment app, with 38% respondents expressing their preference.
Paytm is chosen by 12% respondents, while 2% respondent opts for another mobile payment
application.

8. For how long you been using mobile wallet app

3.8 Table illustrating the duration of usage of mobile wallet apps among respondents
Opinion 15yr-18yr 19yr-21yr 22yr-25yr 26yr-29yr
Less than 1 year 7 5 7 1
1-2 years 2 8 13 2
2-5 years 1 3 15 5
More than 5 6 0 6 7
years

Data Analysis: From the above table it is analyzed that Less than 1 year the age groups
15yr18yr 7 respondents, 19yr-21yr 5 respondents, 22yr-25yr 7 respondents, and 26yr-29yr 1
respondent. And next 1-2 years the age groups 15yr-18yr 2 respondents, 19yr-21yr 8
respondents, 22yr-25yr 13 respondents, and 26yr-29yr 2 respondents. And next 2-5 years the
age groups 15yr-18yr 1 respondent, 19yr-21yr 3 respondents, 22yr-25yr 15 respondents, and
26yr-29yr 5 respondents. And next More than 5 years the age groups 15yr-18yr 6 respondents,
19yr-21yr 0 respondent, 22yr-25yr 6 respondents, and 26yr-29yr 7 respondents.

3.8.1. Graph showing the duration of usage of mobile wallet apps among respondents

15

13

8
7 7 7
6 6
5 5

3
2 1 1 2

15YR-18YR 19YR-21YR 22YR-25YR 26YR-29YR

Less than 1 year 1-2 years 3-5 years More than 5 yers

Interpretation: From the above graph interpreted that the majority of individuals aged
22yr25yr have been using these apps for 2-5 years, while those aged 19yr-21yr show a diverse
range of usage periods, and respondents aged 15yr-18yr primarily report less than 1 year
of usage.
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Individuals aged 26yr-29yr have varied durations, with a significant proportion having used
mobile wallet apps for more than 5 years.

9. What is your average weekly spending on transactions

3.9 Table showing average weekly spending on transaction by respondents

Opinion 15yr-18yr 19yr-21yr 22yr-25yr 26yr-29yr
Less than 1000rs 9 5 9 0
1000-3000rs 3 5 20 1
3000-7000rs 4 1 10 4
More than 2 1 6 7
7000rs

Data Analysis: From the above table it is analyzed that Less than 1000rs the age groups
15yr18yr 9 respondents, 19yr-21yr 5 respondents, and 22yr-25yr 9 respondents all have a
relatively high number of respondents, 26yr-29yr age group has no respondents. And next
1000- 3000rs the age groups 15yr-18yr 3 respondents, 19yr-21yr 5 respondents, and 22yr-25yr
20 respondents all have a relatively high number of respondents, 26yr-29yr age group 1
respondent. And next 3000-7000rs 15yr-18yr 4 respondents, 19yr-21yr 1 respondents, and
22yr-25yr 10 respondents all have a relatively high number of respondents 26yr-29yr 4
respondents. And next More than 7000rs the age groups 15yr-18yr 2 respondents, 19yr-21yr 1
respondents, and 22yr- 25yr 6 respondents, 26yr-29yr 7 respondents.

3.9.1. Graph showing average weekly spending on transaction by respondents

20

10
9 9
7
6
5 5
4 4
3 2 1 1 0 1

15YR-18YR 19YR-21YR 22YR-25YR 26YR-29YR

Less than 1000rs 1000-3000rs 3000-7000rs More than 7000rs

Interpretation: From the above graph interpreted that data presents the opinions of
respondents across different age groups regarding the amount of money they are comfortable

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spending using mobile payment methods. individuals aged 22yr-25yr express a higher
comfort level, with 20 respondents indicating a willingness to spend between 1000 and
3000rs. On the other hand, the 26yr-29yr age group demonstrates a broader range of comfort,
with comfortable spending more than 7000rs. Respondents aged 15yr-18yr generally lean
towards lower spending comfort, with the majority opting for less than 1000rs.

9. How frequently do you utilize the mobile payment systems for the following purpose?

3.10 Table showing utilize the mobile payment systems for the following purpose
Opinion Always Mostly Sometimes Rarely Never
For shopping 18 11 12 1 0
For movie 10 10 14 6 2
ticket
For paying 21 7 11 2 1
bills
For bookings 13 6 13 6 4
(train/ flight
/bus ticket)

Data Analysis: From the above table it is analyzed that “for shopping” 18 respondents for
daily, 11 respondents for mostly, 12 respondents for sometimes, 1 respondent for rarely 0
respondent for never. And next “for movie ticket” 10 respondents for daily, 10 respondents for
mostly, 14 respondents for sometimes, 6 respondents for rarely 2 respondents for never. And
next “for paying bills” 21 respondents for daily, 7 respondents for mostly, 11 respondents for
sometimes, 2 respondents for rarely 1 respondent for never. And next “for bookings (train/
flight/bus/ticket)” 13 respondents for daily, 6 respondents for mostly, 13 respondents for
sometimes, 6 respondents for rarely 4 respondents for never.

3.10.1. Graph showing utilize the mobile payment systems for the following purpose

21
18
14
13 12 13
10 11
11 10
7 6 6 6
1 2 0 2 1 4
ALWAYS MOSTLY SOMETIMES RARELY NEVER
For shopping For movie ticket
For paying bills For bookings ( train/ flight /bus ticket )

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Interpretation: From the above graph interpreted that data represents respondents' opinions
on the frequency of using mobile payments for various activities. A significant portion
"always" uses mobile payments for paying bills 21 respondents and for shopping 18
respondents, indicating a high level on this payment method for these activities. Movie ticket
purchases and bookings (train/flight/bus) show more varied, with a relatively balanced
distribution across "always," "mostly," and "sometimes." However, respondents rarely or
never use mobile payments for movie tickets, as indicated by the 6 and 2 respondents in those
categories, respectively.

11. What are the challenges you faced while using digital payment methods

3.11 Table showing challenges faced by respondents while using digital payment methods
Opinion No. Of Respondents
Technical issues 25
Time consuming 16
Funds/ Transactional issues 13
other 1

Data Analysis: From the above table it is analyzed that technical issues facing 25 respondents,
time consuming 16 respondents, funds/transactional issues 13 respondents, other 1 respondent.
3.11.1. Graph showing challenges faced by respondents while using digital payment methods

30

25
25

20

15

10 16

13
5

Funds/ Transac
0 tionalother 1
Technical issuesTime consuming
issues

Interpretation: From the above graph interpreted that the most commonly reported issue is
"Technical issues," with 25 respondents citing difficulties related to the functionality or
performance of mobile payment "Time consuming" is identified as a challenge by 16

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respondents, about the efficiency or speed of mobile payment processes. 13 respondents

highlight "Funds/Transactional issues" as a hurdle, indicating problems related to the
availability or processing of funds during transactions. Only one respondent mentions "other"
issues

12. What features do you consider most important in a mobile payment app
3.12 Table showing features consider most important in a mobile payment app
for respondents
Opinion No. Of Respondents
Ease of use 20
Security features 23
Cash back & rewards 17
Variety of supported services 4

Data Analysis: From the above table it is analyzed that “Ease of use” with 20 respondents,
and
“Security features” 23 respondents, “Cash back & rewards” 17 respondents, “variety of
supported services” 4 respondents, respectively.

3.12.1. Graph showing features consider most important in a mobile payment app for
respondents

23

20

17

EASE OF USE SECURITY FEATURES CASH BACK & VARIETY OF

REWARDS SUPPORTED SERVICES

Interpretation: From the above graph interpreted that the data reflects respondents' opinions
on various aspects of mobile payment apps. "Ease of use" is deemed important by 20
respondents, suggesting a preference for user-friendly interfaces. "Security features" and
"Cash back & rewards" are highlighted by an unspecified number of respondents, emphasizing
the significance of both safety and incentives in mobile payment choices. The lower count
for
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"Variety of supported services" 4 respondents indicates that a limited number of participants

prioritize a diverse range of features.

13. What factors influence your choice of using mobile payments over traditional methods?

3.13 Table showing influencing using mobile payments over traditional methods
by respondents.
Opinion No. Of Respondents
Convenience 19
Security 20
Speed of transaction 18
Other 0

Data Analysis: From the above table it is analyzed that convenience using mobile payment
over traditional method with 19 respondents, security with 20 respondents speed of transaction
with 18 respondents, other is 0 respondent.

3.13.1. Graph showing influencing using mobile payments over traditional methods by
respondents.

25

20
20

15 19

18
10

0
Conv enienc e Security Speed of transa ctionOther

Interpretation: From the above graph interpreted that the data reveals respondents'
considerations when evaluating mobile payment apps. "Security" is a top priority for 20
respondents, highlighting the critical role of trust and safety in the selection of these platforms.

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"Convenience" closely follows, with 19 respondents emphasizing the importance of a

userfriendly and effortless experience. "Speed of transaction" is also a key factor, mentioned
by 18 respondents, underscoring the desire for swift and efficient payment processes.
14. Do you think going cashless is beneficial for the economic growth of India

3.14 Table showing going cashless is beneficial for the economic growth of India
Opinion No. Of Respondents
Strongly agree 11
Agree 21
Neutral 9
Disagree 1
Strongly disagree 0

Data Analysis: From the above table it is analyzed that going cashless is beneficial for
economic growth is strongly agree by 11 respondents, only agree by 21 respondents, neutral 9
respondents, disagree 1 respondent, strongly disagree 0 respondents.

3.14.1. Graph showing going cashless is beneficial for the economic growth of India

25

20

15

10

0
Strongly agree Agree Neutral Disagree Strongly disagree

Interpretation: From the above graph interpreted that the data reflects respondents' opinions
on the perceived benefits of transitioning to a cashless economy in India. A significant
portion, with 32 respondents in total (11 "Strongly agree" and 21 "Agree"), expresses
positive, suggesting that a majority believes going cashless would be beneficial for the
economic growth of the country. While 9 respondents adopt a "Neutral" stance, only 1
respondent "Disagrees," indicating a relatively low level. Importantly, there are no
respondents who "Strongly disagree," emphasizing a consensus in favor of the belief that a
cashless system
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holds potential benefits for the economic advancement of India.

15. How secure do you think digital mobile payment systems

3.15 Table showing secure of digital mobile payment

Opinion No. Of Respondents
Very secure 9
Secure 22
Neutral 11
Insecure 0
Very insecure 0

Data Analysis: From the above table it is analyzed that digital payment is very secure 9
respondents, secure 22 respondents, neutral 11 respondents, insecure and very insecure both is
0 respondents.

3.15.1 Graph showing secure of digital mobile payment

VERY SECURE SECURE NEUTRAL INSECURE VERY INSECURE

Interpretation: From the above graph interpreted the data reflects respondents' perceptions of
the security levels associated with digital mobile payment systems. A majority, with 31
respondents in total (9 "Very secure" and 22 "Secure"), expresses confidence in the security of
these systems. An additional 11 respondents adopt a "Neutral" stance, indicating a segment of
the surveyed population with a more reserved opinion on the matter. No respondents perceive
digital mobile payment systems as "Insecure" or "Very insecure,".

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16. How important is the user interface of a mobile payment app to you

3.16 Table showing important is the user interface of a mobile payment app

Opinion No. Of Respondents

Not important 4
Slightly important 25
Moderately important 9
Very important 4

Data Analysis: From the above table it is analysed that user interface is important for mobile
payment app very important with 4 respondents, moderately important 9 respondents, slightly
important 25 respondents, not important 4 respondents.

3.16.1. Graph showing important is the user interface of a mobile payment app

NOT IMPORTANT SLIGHTLY MODERATELY VERY IMPORTANT IMPORTANT IMPORTANT

Interpretation: From the above graph interpreted the data reveals the varying importance
assigned to the user interface (UI) of a mobile payment app by respondents. The majority, with
25 respondents, considers it "Slightly important," suggesting a recognition of its significance
without being a decisive factor. Additionally, 9 respondents find the UI "Moderately
important," indicating a higher level of importance for a subset of the surveyed population.
Meanwhile, 4 respondents each attribute extreme importance, considering the UI "Very
important." Only a small number, 4 respondents, deem the UI "Not important."

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17 How easy is it for you to navigate and use digital mobile payment applications?

3.17 Table showing navigate and use of digital mobile payment application.

opinion No. Of Respondents

Very difficult 8
Slightly confident 11
Moderately confident 9
Very confident 13
Extremely confident 1

Data Analysis: From the above table it is analyzed that navigate and use of digital mobile
payment application is Extremely confident 1 respondent, very confident 13 respondents,
moderately confident 9 respondents, slightly confident 11 respondents, very difficult 8
respondents.

3.17.1. Graph is showing navigate and use of digital mobile payment application

13

11

9
8

VERY DIFFICULT SLIGHTLY MODERATELY VERY CONFIDENT EXTREMELY

CONFIDENT CONFIDENT CONFIDENT

Interpretation: From the above graph interpreted the data on respondents' confidence levels
in navigating and using digital mobile payment applications. A significant portion, with 23
respondents in total (9 "Moderately confident," 13 "Very confident," and 1 "Extremely
confident"), expresses a substantial degree of confidence in their ability to use these
applications effectively. Meanwhile, 11 respondents feel "Slightly confident," indicating a
moderate level of assurance. 8 respondents find it "Very difficult," suggesting that a smaller
but notable segment faces challenges in navigating and using digital mobile payment apps.

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18. How likely are you to encourage others to adopt mobile payment systems in future?
3.18 Table showing encourage others to adopt mobile payment systems in future
Opinion No. Of Respondents
Very likely 9
Likely 26
Neutral 6
Unlikely 1
Very unlikely 0

Data Analysis: form the above table the respondents, 9 individuals expressed a strong
inclination, stating that they are "very likely" 26 individuals, expressed that they are "likely" to
encourage others, 6 individuals, indicated a neutral, Interestingly, only 1 respondent expressed
an "unlikely".

3.18.1. Graph is showing encourage others to adopt mobile payment systems in future

30

25

20

15

10

0
Very likely Likely Neutral Unlikely Very unlikely

Interpretation: form the above graph majority of respondents, 35 out of 42, indicated that
they are either "Very likely" or "Likely" to encourage others. This indicates a strong
willingness among respondents to promote the adoption of mobile payment systems. The
relatively low number of respondents who are "Unlikely" or "Very unlikely" (only 1
respondent) suggests that there is a minimal level of resistance or opposition to promoting
mobile payment systems. The 6 respondents who selected "Neutral" indicate a level of
ambivalence or uncertainty towards promoting mobile payments. Overall, the data suggests a
favourable outlook towards encouraging others to adopt mobile payment systems.

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19. On scale of 1 to 5 how would you rate your overall satisfaction with digital payment services
3.19 Table showing rate of overall satisfaction with digital payment services
Opinion (Rating) No. Of Respondents
1 0
2 1
3 10
4 26
5 5

Data Analysis: from the above table the majority of respondents (31 out of 42) rated their
overall satisfaction with digital payment services as either a 4 or 5 on a scale of 1 to 5,
indicating a high level of satisfaction. 10 respondents are rated their satisfaction as a 3. Only
one respondent rated their satisfaction as a 2, while none rated it as a 1.

3.19.1. Graph showing rate of overall satisfaction with digital payment services

30

25

20 26

15

10

0 10
1 2 3 45

No. 5
Of 0 1
Respondents

Interpretation: from the above graph the majority of respondents rated their overall
satisfaction with digital payment services quite positively, with 26 respondents giving a rating
of 4 and 5 respondents giving a rating of 5. Only one respondent rated their satisfaction as low
as 2, indicating a generally high level of satisfaction with digital payment services among the
respondents.

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20. Do you plan to increase your use of digital/mobile payments in the future?

3.20 Table showing increase your use of digital/mobile payments in the future

Opinion No. Of Respondents

Yes 41
No 1

Data Analysis: from the above table 41 respondents are chosen yes and only 1 respondent
chosen no.

3.20.1. Graph showing increase your use of digital/mobile payments in the future

2%

Yes
No

98%

Interpretation: from the above graph the vast majority of respondents, 41 out of 42, plan to
increase their use of digital/mobile payments in the future, indicating a strong inclination
towards further adoption of digital payment methods. Only one respondent indicated that they
do not plan to increase their use of digital/mobile payments.

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APPLYING OF TEST
CORRELATION COEFFICIENT
1. Which digital payment do you use mostly?

Table display the preferred digital payment methods and their anticipated usage.

Table no. 3.5

Opinion 15yr-18yr 19yr-21yr 22yr-25yr 26yr-29yr

Mobile payment 4 3 17 8

UPI 5 2 22 8

RTGS 0 1 7 8

NEFT 0 0 6 7

Internet Banking 4 1 12 7

Debit & Credit 4 1 15 8

card

Solution: Setting of Hypothesis

H0: There is no significant difference in usage of digital payment methods among youth.

H1: There is a significant difference in usage of digital payment methods among youth.

Calculation of Correlation coefficient for the above data

We’ll denote the age group as:

▪
X1 for 15-18
▪
X2 for 19-21

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▪
X3 for 22-25
▪
X4 for 26-29

And ‘y’ represents the usage counts for each payment method.

Now, let’s calculate the correlation coefficient:

N=4
Σx = 1 + 2 + 3 + 4 = 10
Σy = Σy mobile = 4 + 3 + 17 + 8 = 32
Σxy = (1 × 4) + (2 × 3) + (3 × 17) + (4 × 8)
= 4 + 6 + 51 + 32
= 93
Σx2 = 12 + 22 + 32 + 42 = 1 + 4 + 9 + 16 = 30
Σy2 = (42) + (32) + (172) + (82)
= 16 + 9 +289 + 64
= 378

Now plug these values into the correlation coefficient formula:

𝑛(𝛴𝑥𝑦)−(∑𝑥)(𝛴𝑦)
r=
√[𝑛𝛴𝑥²−(𝛴𝑥)² ] [ 𝑛 𝛴𝑦²−(𝛴𝑦)²]

4(93)−(10)(32)

√[4 ×30 −(10)² ] [ 4 × 378 − (32)²]

r=

372−320
√[120 −100 ] [ 1512 −1024 ]
=

52
√[20 ] [ 488]
=

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52
√9760
=

=
0.554.

So, the correlation coefficient r is approximately 0.554.

Conclusion: If “r” is < 1 then the alternative hypothesis(H1) is accepted, if “r” is

> 1 then the Null hypothesis(H0) is accepted. The correlation value of approximately 0.554
indicates a moderate positive correlation between age groups and digital payment methods.
As per the above problem the “r” is < 1. Hence the null hypothesis is rejected and alternative
hypothesis is accepted.

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CHAPTER- 04
FINDINGS, SUGGESTIONS AND CONCLUSION

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4.1 FINDINGS:

 The survey comprised 71% male respondents and 29% female respondents, indicating a
male majority in the sample. With a total of 42 participants, the gender distribution
highlights a notable difference in participation between males and females.

 The age distribution among respondents shows that 62% fall within the 22 to 25-year-old
bracket, making it the most represented age group. Those aged 26 to 29 years constitute
26% of participants, while individuals between 15 to 18 years and 19 to 21 years represent
5% and 7%, respectively.

 The survey reveals that 69% of respondents are students, indicating a significant portion
of the sample population pursuing education. Employed individuals constitute 26% of the
participants, while only 5% report being unemployed, suggesting a predominantly
studentcentric demographic in the study.

 The survey indicates that 38% of respondents report having no income, while 34% fall
within the income bracket of 20,000 to 30,000. Participants earning below 20,000 and
between 30,000 to 50,000 represent 14% each, showcasing a diverse range of income
levels within the sample population.

 15-18-year-olds favor mobile payments (31%) and UPI (38%), while 19-21-year-olds
show a shift to UPI (36%) and debit/credit cards (36%). In the 22-25 age groups, UPI
(41%) and internet banking (24%) dominate, alongside notable usage of RTGS (16%)
and NEFT (12%).

 The data illustrates varying smartphone usage for digital payments across age groups.
Those aged 22-25 show the highest daily usage (23 respondents), indicating a reliance of
53% on smartphones. Conversely, the 15-18 age group predominantly uses smartphones
rarely (7 respondents), representing 47% in this category. Age groups 19-21 and 26-29
exhibit varied usage patterns, with the former mostly weekly (36%) and the latter
primarily daily (39%).

 PhonePe emerges as the preferred choice among respondents, garnering 48%, followed
closely by Google Pay at 38%. Paytm captures a smaller share at 12%, while other
options constitute just 2% of responses.

 Among 15-18-year-olds, 37% have less than 1 year of experience; 19-21-year-olds show
diverse experience, with 42% having 1-2 years and 30% having 2-5 years. In the 22-25 age
groups, 40% possess 2-5 years of experience, while 26-29-year-olds exhibit varied
experience, with 35% having more than 5 years.

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 Among 15-18-year-olds, 45% express opinions with less than 1000rs value, while 22-
25year-olds predominantly engage in the 1000-3000rs range (53%). Notably, 22-25-
yearolds exhibit significant activity in the 3000-7000rs range (40%), contrasting with 26-
29year-olds who primarily express opinions valued over 7000rs (50%).

 The data reveals varying comfort levels in spending through mobile payment methods
across age groups. Individuals aged 22-25 demonstrate the highest comfort level, with 20
respondents (48%) willing to spend between 1000 and 3000rs. In contrast, the 26-29 age
groups show a broader comfort range, with most comfortable spending over 7000rs.
Respondents aged 15-18 generally prefer lower spending, with the majority (45%)
opting for less than 1000rs.

 Technical issues are the primary concern among respondents, constituting 50%,
followed by time-consuming processes at 32%, and funds/transactional issues at 26%.
Other concerns represent a minimal portion, accounting for 2% of responses.

 Among 42 respondents, security features are highly valued, with 46%, followed by ease of
use at 40%, and cash back & rewards at 30%. The variety of supported services is cited by
a smaller portion, comprising 8% of responses.

 Security is a key priority among respondents, with 40%, closely followed by convenience
at 38% and speed of transaction at 34%. No respondents cited other factors, indicating a
focused set of concerns among the surveyed population.

 Among respondents, 42% agree and 24% strongly agree with the statement, while 18%
remain neutral. Only 4% disagree, and there are no respondents who strongly disagree,
indicating strong overall agreement with the sentiment expressed.

 Among respondents, 44% consider the system secure, with 36% perceiving it as
very secure. Additionally, 22% remain neutral, while no respondents consider the
system insecure or very insecure, highlighting confidence in its security measures.

 Among respondents, 50% perceive the aspect as slightly important, while 18% consider
it moderately important and another 18% regard it as very important. Only 14% of
respondents deem it not important, indicating a generally positive outlook on the
importance of the aspect.

 Among respondents, 46% express confidence, with 26% being very confident and 20%
moderately confident. Additionally, 22% feel slightly confident, while 4% are
extremely confident, and 18% find the aspect very difficult, showing navigation and use
of digital mobile payment application

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 Among respondents, 52% consider the scenario likely, with 36% rating it as likely and
16% as very likely. Additionally, 12% remain neutral, while only 2% find it unlikely,
with no respondents rating it as very unlikely, indicating a generally positive outlook on
the likelihood of the scenario.

 Among respondents, the majority (52%) rate the aspect as 4, while 20% rate it as 3.
Additionally, 10% rate it as 5, and 4% rate it as 2, with no respondents selecting the lowest
rating of 1, indicating a generally positive perception of the aspect.

 In a survey, 98.8% of respondents (41 out of 42) expressed agreement with the opinion,
while only 2.4% (1 out of 42) dissented. This overwhelming support suggests strong
consensus on the topic among participants.

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4.2 SUGGESTIONS:

 Focus on educating the younger age groups (15-18 and 19-21) about the benefits
and functionalities of digital payment methods to encourage their adoption.
 Implement and advertise robust security features in mobile payment apps to alleviate
concerns and increase confidence, particularly among those who rated their satisfaction
lower or expressed concerns about security.
 Consider refining the user interface of mobile payment apps to make them more intuitive
and user-friendly, addressing the moderate importance placed on this aspect by
respondents.
 Ensure accessibility of digital payment services to individuals of all income levels,
considering the substantial number of respondents reporting no income and the
importance of convenience highlighted across different age groups.
 Offer attractive cashback and rewards programs to further incentivize the adoption
and usage of digital payment methods, as these were considered important features by
a significant number of respondents.
 Expand the variety of supported services in mobile payment apps to cater to diverse user
needs, although this was deemed less important by the majority of respondents, it could
still enhance overall satisfaction and usability.
 Prioritize resolving technical issues faced by users to enhance the overall user experience
and satisfaction levels.
 Leverage the high likelihood of respondents to encourage others to adopt mobile
payment systems by implementing referral programs or other initiatives to foster
advocacy and further expand the user base.
 Continuously gather feedback from users to identify areas for improvement and
adapt mobile payment services accordingly to meet evolving user needs and
preferences.

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4.3 CONCLUSION:

The survey data reveals significant trends in digital payment adoption across various
demographic segments. Mobile payments, notably favored by individuals aged 22-25,
particularly through UPI, signify a shift away from traditional methods like RTGS and NEFT,
especially among younger demographics. The prevalence of mobile payments correlates with
the majority of respondents being students, indicating a digitally fluent population leading the
adoption. Additionally, internet banking and debit/credit cards are highly preferred across all
age groups, emphasizing the reliance on digital financial services. Despite challenges such as
technical issues and security concerns, respondents express overall satisfaction with digital
payments and a strong intent to encourage others to adopt them. Furthermore, a vast majority
plan to increase their usage, highlighting a growing momentum towards digitization in
financial transactions. This underscores the evolving digital payments landscape in India,
driven by convenience, security, and efficiency preferences among a young, tech-savvy
population. Addressing technical challenges and enhancing security features will be crucial in
sustaining this growth and fostering widespread adoption across all demographics.

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Bibliography

Books:
1. Digital Payment Systems: Evolution, Implementation, and Adoption" by Sandeep
Kumar. Evolution, Implementation, and Adoption" offers a thorough examination of
digital payment systems, covering their development, strategies for implementation, and
the factors influencing their adoption, particularly among youth in urban areas such as
Bangalore.
2. "Youth and Digital Empowerment: Understanding Adoption Trends" by Rajesh Kumar.
Exploring Adoption Trends" examines how digital technologies empower youth, focusing
on the adoption trends of mobile payment systems among urban youth in Bangalore. It
offers valuable insights for policymakers and businesses seeking to understand these
dynamics.

Websites:

https://en.wikipedia.org/wiki/Mobile_payment
https://www.investopedia.com/terms/m/mobile-payment.asp
https://www.emerald.com/insight/content/doi/10.1108/02634501211231928/full/html?journa
l Code=mip https://www.sciencedirect.com/science/article/abs/pii/S0747563214001447
https://www.tandfonline.com/doi/abs/10.1080/15228916.2017.1396792
https://ijcrt.org/papers/IJCRT2403388.pdf https://ijcrt.org/papers/IJCRT21X0137.pdf
https://sist.sathyabama.ac.in/sist_naac/documents/1.3.4/2022-mba-mba-batchno-132.pdf
https://link.springer.com/article/10.1007/s10660-022-09577-1
https://www.scribd.com/document/667356240/A-STUDY-ON-IMPACT-OF-
MOBILEPAYMENTS-WITH-SPECIAL-REFERANCE-TO-STUDENTS
https://journals.sagepub.com/doi/10.1177/21582440221114333?icid=int.sj-full-text.similar-
articles.6
https://www.iujharkhand.edu.in/sonal-thesis.pdf

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ANNEXURE

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I am DILIP T pursuing my 3 semester MBA in Global institute of management sciences,

Bangalore for the academic year 2023-2024 for the partial fulfilment of my course. I am
conducting the survey on “A study on digital mobile payment system adoption among youth in
Bangalore city” to prepare a project report. I request you to spare a few minutes to answer my
questionnaires.

NAME:
EMAIL:

1. Age o 15yr-18yr o 19yr-21yr o 22yr-25yr o 26yr-29yr

2. Gender
o Male
o Female

3. Occupation o Student o Employed o Unemployed o Others

4. Income level (per month) o Below 20,000 o 20,000-30,000 o 30,000-50,000 o No Income
5. Which digital payment do you use mostly?
15yr-18yr 19yr-21yr 22yr-25yr 26yr-29yr

o Mobile Wallets
o UPI
o RTGS
o NEFT
o Internet Banking
o Debit & Credit card

6. How often do you utilize your smartphone for digital payment?

Daily Weekly Monthly Rarely

o 15yr-18yr
o 19yr-21yr
o 22yr-25yr
o 26yr-29yr

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7. What are the challenges you faced while using digital payment methods?
o Technical issues o Time consuming o Funds / Transactions issues o Others (specify)

8. Which mobile payment app are you currently using?

o PhonePe o Google pay o Paytm o Others (specify)

9. For how long you been using mobile wallet app

15yr-18yr 19yr-21yr 22yr-25yr 26yr-29yr

o Less than 1years

o 1-2 years
o 3-5 years
o More than 5 years

10. What is your average weekly spending on transactions?

15yr-18yr 19yr-21yr 22yr-25yr 26yr-29yr

o Less than 1000rs

o 1000-3000rs
o 3000-7000rs
o More than 7000rs

11. How frequently do you utilize the mobile wallet payment systems for the following purpose?
Always Mostly Sometimes Rarely Never

o For shopping

o For movie tickets

o For paying bills
o For bookings

(train /flight/bus tickets)

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12. What features do you consider most important in a mobile payment app? o Ease of use o
Security features o Cash back & rewards o Variety of supported services o Others (specify)

13. What factors influence your choice of using mobile payments over traditional methods? o
Convenience o Security o Speed of transaction o
Others (specify)

14. Do you think going cashless is beneficial for the economic growth of India?
o Strongly agree o Agree o Neutral o Disagree o
Strongly disagree

15. What other payment methods do you prefer over the mobile payment app?
o Cash o Credit / debit card o Bank transfers o Other digital wallets o Other

16. How secure do you think digital mobile payment systems are? o Very secure o Secure o
Neutral o Insecure o Very insecure

17. How important is the user interface of a mobile payment app to you?
o Not important o Slightly important o Moderately important o Very important

18. How easy is it for you to navigate and use digital mobile payment applications? o
Very difficult o Slightly confident o Moderately confident o Very confident
o Extremely confident

19. How likely are you to encourage others to adopt mobile payment systems in the future? o
Very likely o Likely o Neutral o Unlikely o
Very unlikely

20. On scale of 1 to 5 how would you rate your overall satisfaction with digital mobile payment
services?
1 2 3 4 5
Highly satisfied Highly not satisfied

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21. Do you plan to increase your use of digital / mobile payments in the future?
o Yes o No

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 “A STUDY ON DIGITAL MOBILE PAYMENT SYSTEM ADOPTION AMONG
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“A STUDY ON DIGITAL MOBILE PAYMENT SYSTEM ADOPTION AMONG

YOUTH IN BANGALORE CITY”

Synopsis submitted in partial fulfilment of requirement for the award of

degree.
MASTER OF BUSINESS ADMINISTRATION
OF
BANGALORE UNIVERSITY

SUBMITTED BY
DILIP T
Reg no: P03DD22M015060
Under the guidance of
Prof. Kavya K D
Assistant Professor
Department of Commerce and Management
GLOBAL INSTITUE OF MANAGEMENT SCIENCES
BANGALORE UNIVERSITY
2023-2024
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INDEX

SL No. CONTENT

1 INTRODUCTION

2 STATEMENT OF
THE
PROBLEM
REVIEW OF LITERATURE
3

4 OBJECTIVES

5 SCOPE OF STUDY

6 RESEARCH METHODOLOGY

7 LIMITATIONS

8 CHAPTER SCHEME

9 BIBLIOGRAPHY

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1. INTRODUCTION
A digital payment system is an electronical tool enabling individuals
to conduct mobile payment transactions and purchase item online. It includes a digital wallet
linked to a user’s bank account, allowing customers to store payment data and avoid repetitive
information entry during purchase. This system is subset of (EDI) Electronic Data Interchange
and gained popularity with the widespread adoption of internet -based shopping and banking.
Rather than relying on cash, checks, or credit cards, consumers can utilize payment apps on
their mobile devices to mobile payments for a diverse range of services and both digital and
tangible goods. The mobile payment demand has been increased after demonetization of the
Indian currency on 08th November 2016 in India. To assess the long-term viability of mobile
payment technology, it is crucial to explore the factors that usage and the actualization of its
Capabilities. To achieve this objective, we analyze the diverse positive and negative aspects of
mobile payments by examining their affordances and limitations. Especially in terms of
security, convenience, and to achieve this objective, we analyze the diverse positive and
negative aspects of mobile payments by examining their affordances and limitations.
Especially in terms of security, convenience, and user – friendliness, are crucial for
encouraging youths to adopt and continue using mobile payment methods. Provide
Educational resources to enhance digital literacy continuous efforts to enhance the user
experience and addressing the challenges can contribute to a more widespread acceptance of
mobile
payments among the younger population. There are 4 primary models for mobile payments:

• Bank-centric model
• Operator-centric model
• Collaborative model
• Independent service provider (ISP) model
In models connected to a bank or operator, a bank/operator is the central node of the model,
manages the
transactions and distributes the property rights. In collaborative model, the financial
intermediaries and
telephonic operators collaborate in the managing tasks and share cooperatively the proprietary
rights. In ISP
model, a third party of confidence operates as an independent and “neutral” intermediary
between financial
agents and operators. Apple Pay or PayPal are the ISP the most frequently associated to this
model in these
last months.

2. REVIEW OF LITERATURE
A literature is an academic composition that showcase an understanding of the
existing academic
literature on a particular subject within its boarder context. It involves not only summarizing

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the material but

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also conducting a critical assessment, this why it is called a literature review rather than a
literature report.

1. Sonal Purohit (2022)- Observed that the factors influencing mobile payment adoption among
generation Z in developing countries. The researcher utilizing partial least square structural
equation modeling, researcher identifies social influence, performance expectancy,
impacting behavioral intention to adopt mobile payments the study suggests that promotional
offers, such as discounts or cash-backs, are irrelevant to the intention to adopt mobile
banking. Marketers can leverage the insights from this research to formulate effective
strategies for fostering the sustainable adoption of mobile payments among Generation Z
customers in developing countries. https://www.researchgate.net/ Journal of Content,
Community & Communication Vol. 15 Year 8, June - 2022 [ISSN: 2395-7514 (Print)]

2. Sanuja shree PN, Dr. S Gurusamy, P Balaji (2019)- primary objective of the study is to
investigate the intention of mobile banking usage among young customers across both
public and private sector banks in India”. In this paper the researcher was adopted by
employing survey method to collect response from target population through convenience
Sampling method. In this usage intension variables have been reduced to five namely,
convenience factors, benefits factor, deliberation factor, safety factor, and trust factor, this
are the influence in the project. The collected primary data undergoes analysis using SPSS
Version 23.0, involving statistical tools such as percentage analysis, correlation analysis,
factor analysis, and multiple regression analysis.
https://papers.ssrn.com/ Journal of Management, 6 (2), 2019, pp. 293–301.

3. Michael humbani, Melanie wiese (2018) - The technology readiness index was applied to
determine consumers’ readiness to adopt mobile payment services and the moderating
effect of gender. Gender has been identified as a key variable in adoption and its vital role
in market segmentation and gender empowerment obliges its inclusion. The results of the
regression analysis indicate that convenience and compatibility drive consumers’ adoption
whereas risk, cost and insecurity are inhibitors. Furthermore, gender moderates only the
relationship between convenience and the adoption of mobile payment services. Given the
moderating effect of gender, companies should initiate advertising campaigns targeting
women opinion leaders in advertisements, which can in turn encourage and educate other
women to enjoy the convenience of mobile payments.
https://www.tandfonline.com/ , Journal of African Business Volume 19, 2018 -
Issue 3:

4. Amit Shankar(2018) - identify the factors influencing the intention to adopt mobile
payment (m-payment) in India by proposing a conceptual framework rooted in the
Technology Acceptance Model (TAM). Beyond the TAM constructs, four additional user-
centric elements are incorporated to comprehensively assess m-payment adoption intention
in the Indian context. The proposed research framework underwent empirical testing using
data collected from 381 potential m-payment service users through a combination of online
and offline surveys. Structural Equation Modeling (SEM) was employed for data analysis.
The
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results indicate that perceived ease of use (PEOU), perceived usefulness (PU), trust, and
selfefficacy (SE) significantly and positively impact m-payment adoption intention.
However, subjective norms (SN) and personal innovativeness (PI) were found to have no
significant impact on m-payment adoption intention.
https://journals.sagepub.com/, Volume 19 Issue 3_suppl, June 2018

5. Viswanath Venkatesh, James Y. L. (2012)- observing the research Unified Theory of

Acceptance and Use of Technology (UTAUT) to examine the adoption and utilization of
technology within a consumer context. Our proposed introduces three additional constructs
to the UTAUT framework: hedonic motivation, price value, and habit. We hypothesize that
individual differences, such as age, gender, and experience, moderate the effects of these
constructs on behavioral intention and technology use. The findings from a two-stage online
survey, with technology use data collected four months after the initial survey, involving
1,512 mobile Internet consumers, supported our model. https://www.jstor.org/ Vol. 36,
No. 1 (March 2012), pp. 157-178 (22 pages).

3. STATEMENT OF THE PROBLEM

The problem statement revolves investigating the adoption of mobile payment systems,
specially focus on the youth demographic. This study aims to understand how individuals
prior experience influence their adoption of mobile payment technology and the associated
challenges faced by young users in this context. It aims to address dynamics and implications
of varying levels of user experience in mobile payment adoption.

4. SCOPE OF STUDY

The scope of this study involves a thorough exploration of how past interactions with mobile
payment platforms influence the current and future usage patterns of youths. It aims to
investigate how positive experiences, such as seamless transactions, user-friendly interfaces,
and robust security measures, contribute to fostering a positive attitude toward mobile
payments. Additionally, the research seeks to analyze the impact of negative experiences,
including security breaches, technical glitches, or unsatisfactory customer support, in creating
obstacles to adoption. The study will take into account various demographic factors, such as
age, socio-economic status, and educational background, to offer a nuanced understanding of
how diverse experiences shape the perceptions and behaviors of youths regarding mobile
payments.

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5. OBJECTIVES

• To examine the level of experience in utilizing mobile payment system

among targeted youth group.
• To understand the challenges faced by youth in adopting mobile payments.
• To check the current status of the usage of Mobile Payment Applications
among youth.
• To measure the usage preferences of Mobile Payment Applications.

6. RESEARCH METHODOLOGY
Designing a suitable methodology, the selection of analytical tools is important for
a meaningful analysis of any research problem. Here sampling design and types of data
collection are described.
6.1 Sampling Size
The sample size of study is 42 respondents.
6.2 Sampling Area The research has selected the sample region situated in
the southern part of Bengaluru.
6.3 Data Collection
 Primary data
Primary data refers to data collected from firsthand experience directly from
the main source. It refers data that has never been used in the past. The data collection
methods are generally regarded as the best kind of data in research.
• Interview method: Interview are directed method of data collection. It is simply a
process in which the interviewer asks questions and the interviewee responds to
them.
• Survey and questionnaires: Survey and questionnaires provide a broad
perspective from large groups of people. They can be conducted face to face,
mailed
• Observations: Researchers observe a situation around them and record the findings.

 Secondary data
Secondary data refers to data that has already been collected by someone else.
It is much more inexpensive and easier to collect than primary data. Here are some
of the most common secondary data collection
• Website: A group of world wide web pages usually containing links to each
other and made available online by an individual, company or organization.
• Published articles: An article or piece is a written work published in a print or
electronic medium, for the propagation of news, research results, academic analysis
or debate.
• journals and books: writing or images can be printed or drawn on book pages.

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7. LIMITATIONS

 The study's results may lack generalizability if the survey respondents do not
represent the entire youth population in Bangalore, potentially due to sample bias
Research methodology.

 The study's data collection timeframe might be limited, possibly failing to capture
long-term trends or shifts in digital payment adoption among youth.

 The study might encounter difficulties in precisely gauging adoption rates and
identifying the factors that influence adoption, potentially resulting in errors in the
analysis.
 Limited participation rates or incomplete responses may impact the validity of
the study's conclusions.

8. CHAPTER SCHEME

Chapter 1: Introduction.
Chapter 2: Review of literature.
Chapter 3: Data analysis and interpretation. Chapter 4:
Findings, suggestions and conclusion.

9. BIBILOGRAPHY
https://www.investopedia.com/
https://en.wikipedia.org/
https://medium.com/
https://www.jstor.org/
https://journals.sagepub.com/

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