Volume : 7, Issue : 5, May - 2018

A soaring Growth of E wallets post demonetization - Study in Ahmedabad

Ms. Nazneen Shaikh

Abstract :

<p class="MsoNormal" style="margin-bottom:0in;margin-bottom:.0001pt;text-align:&#10;justify;line-height:200%;vertical-align:baseline"><i style="mso-bidi-font-style:&#10;normal"><span style="font-size:12.0pt;line-height:200%;font-family:&quot;Times New Roman&quot;,&quot;serif&quot;;&#10;mso-fareast-font-family:&quot;Times New Roman&quot;;letter-spacing:.15pt">I</span></i><i style="mso-bidi-font-style:normal"><span style="font-size:12.0pt;line-height:&#10;200%;font-family:&quot;Times New Roman&quot;,&quot;serif&quot;;mso-fareast-font-family:&quot;Times New Roman&quot;">ndia is traditionally a cash-based economy, with the value of physical currency in circulation estimated to be over 11% of GDP, one of the highest among emerging economies. T</span></i><i style="mso-bidi-font-style:normal"><span style="font-size:12.0pt;line-height:200%;font-family:&quot;Times New Roman&quot;,&quot;serif&quot;;&#10;background:white">he government‘s announcement on </span></i><i style="mso-bidi-font-style:normal"><span style="font-size:12.0pt;line-height:&#10;200%;font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">demonetization<span style="background:white"> and its push to encourage cashless transactions,</span> India is experiencing exponential growth in digital financial transactions which began as a convenient mode of payment in cash-crunch phase. From bill payments to buying groceries, the country has come a long way in accepting, adapting and, ultimately, preferring E-wallets over cash as a result<span style="background:white"> Digital payment companies have seen a substantial jump in their business as a result of the government&rsquo;s measures towards promoting cashless transactions post demonetization.<o:p></o:p></span></span></i></p> <p class="MsoNormal" style="margin-bottom:0in;margin-bottom:.0001pt;text-align:&#10;justify;line-height:200%;vertical-align:baseline"><i style="mso-bidi-font-style:&#10;normal"><span style="font-size:12.0pt;line-height:200%;font-family:&quot;Times New Roman&quot;,&quot;serif&quot;;&#10;background:white"><o:p>&nbsp;</o:p></span></i></p> <p class="MsoNormal" style="margin-bottom:0in;margin-bottom:.0001pt;text-align:&#10;justify;line-height:200%;vertical-align:baseline"><i style="mso-bidi-font-style:&#10;normal"><span style="font-size:12.0pt;line-height:200%;font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">The primary objective of this paper is to understand about the consumer adoption status of Electronic wallet within the research area limited inAhmedabad. It also measures the consumers usage of E-Wallets pre and post demonetization. As one of the main agenda of demonetization is to make digitalized economy, this research will be useful for the Government and business stakeholders of E-wallet who would like to expand the business to earn more market shares.<o:p></o:p></span></i></p> <p class="MsoNormal" style="margin-bottom:0in;margin-bottom:.0001pt;text-align:&#10;justify;line-height:200%;vertical-align:baseline"><i style="mso-bidi-font-style:&#10;normal"><span style="font-size:12.0pt;line-height:200%;font-family:&quot;Times New Roman&quot;,&quot;serif&quot;"><o:p>&nbsp;</o:p></span></i></p> <p class="MsoNormal" style="margin-bottom:0in;margin-bottom:.0001pt;text-align:&#10;justify;line-height:200%;vertical-align:baseline"><i style="mso-bidi-font-style:&#10;normal"><span style="font-size:12.0pt;line-height:200%;font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">Research was designed in quantitative method using questionnaire which was sent to potential respondents who reside in Ahmedabad. The findings illustrate clearly that the adoption of E wallet among consumers in Ahmedabad is only at the beginning stages of the Innovation-Decision Process. It also shows that consumers here express positive attitudes toward E-wallet Post Demonetization.<o:p></o:p></span></i></p>