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Choosing E- wallets is compatible?

#NAYANA. N, *Dr. K.P. VEENA #Acharya Bangalore B School,Bangalore– 560091, *Department of Master of Business Administration,

VTU, Mysore Regional Centre, Mysore - 570 019 [email protected]

. Abstract- E-wallets have risen as the most noteworthy benefactor in pushing cashless and electronic installments. Web based business gives the ability of purchasing and selling items, data and administrations on the Internet and other online conditions. In a web based business condition, installments appear as cash trade in an electronic structure, and are accordingly called Electronic Payment. E-Payment framework is secure there ought to be no danger to the client Visa number, shrewd card or other individual detail, installment can be completed without contribution of outsider, It makes E installment whenever through the web straightforwardly to the exchange settlement and structure E-business condition. Contemplated have been done on E-Payment framework .E-Payment framework a vital piece of electronic business. A productive installments framework decreases the expense of trading merchandise and ventures, and is essential to the working of the interbank, cash, and capital markets the examination technique depends on the essential information through organized survey and optional information. As good as ever strategies for installments are all the more generally utilized by the more youthful age because of more elevated amount of acknowledgment of new innovations.

Keywords: internet banking, electronic payment, online shopping, ease of use, security

I. INTRODUCTION

All around, there is an enormous enthusiasm among strategy producers, academicians, and business undertakings to investigate the conceivable outcomes of moving towards a cashless economy. It is generally accepted that the development from money to cashless economy has huge advantages web based business gives the ability of purchasing and selling items, data and administrations on the Internet and other online conditions. Electronic installments initially rose with the improvement of wire moves. Electronic subsidizes move is an electronic exchange of data that compares to moving assets starting with one monetary organization then onto the next. The fundamental centrality of web based shopping is to get consideration of that client who use web most the time. The spread of e-installment use shift unevenly between nations incompletely because of contrasts in elements, for example, nature of administrative structure and preparation of media transmission foundation. New installment administrations dependent on the Internet and cell phones multiply in the propelled economies. An organization that needs to showcase their things online can build up an online store by building up a site. Electronic Payment Systems are becoming central to online business process innovations as companies look for ways to serve customers faster and at lower cost. Electronic payment systems and ecommerce are intricately given that online consumers must pay for products and services. E-Payment system is secure .There should be no threat to the user credit card number, smart card or other personal detail, payment can be carried out without involvement of third party, internet based payment system which stores financial value as well as personal identity related information. Such electronic payment systems enable a customer to pay online for the goods and services, including transferring funds to others, by using an integrated hardware and software system. Hardware can be a mobile or computer. Communication between the buyer and the seller may happen over the internet or blue tooth or on mobile network. Thus, e-wallet is nothing but an online money account which does not require the use of a physical card for undertaking transactions/remittances. Unlike savings bank accounts, they, at present, do not offer any interest for keeping money in it, but rewards the holders through cash-backs for making purchases through it. Unlike credit cards, e-wallets are pre-loaded money. Hence, it resembles more to a debit card.

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Volume 8, Issue 10, October 2019

Table showing electronic cash transaction in this above picture

II. REVIEW OF LITERATURE

Dr. Ashutosh Pathak, Karamjeet Kaur,[2015 ] the investigation depends on E-installment framework on web based business in India. The creator's primary spotlight is on effective installments framework decreases the expense of trading products and ventures. The examination in dependent on spellbinding exploration .the examination folklore depends on optional information and furthermore essential information is additionally gathered through close to home meeting. The example size of 200. The creator closes with electronic installment gives more prominent opportunity to people in making good on their government obligations, licenses, charges, fines and buy at unusual areas and at whichever time of day ,365 days of the year.

Dr. Subramanian.s [2013] the investigation depends on free installment framework in India. The creator principle reason for existing is to examine and to assess whether electronic installment's framework have been demonstrating to be powerful in India. The creator utilized rate and charts for examination. The investigation depends on optional information. The creator gives proposals the utilization of an installment item is subject to the client monitoring presence of item. The creator finishes up with banks and other budgetary foundations should focus further on endeavors to empower corporate; individual and furthermore noticed the holes in the bill installments.

Vidyashree D.V, Yamuna .N, nithya shree.G [2015] the investigation is on new elements in advanced installment framework. The creator's primary goal is to comprehend the essential highlights of computerized installments framework particularly with paytm and pay u cash. The examination depends on essential and auxiliary information. The example size 30 client and 20 client having a place with 18-30 .the exploration metrology is on graphic examination. The creator's primary discoveries is to individuals are progressively mindful about the online installments and there is a more extensive, increment in development rate. The creator finishes up with individuals ought to be increasingly precise about discounting their among straightforwardly to their wallet if sny delay in installment individuals should refresh their paytm or pay u cash applications every once in a while so as to defend.

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Hitesh Punjabi [2016] the study is based on innovative payment systems. The author’s main objective is to encouraging a greater variety of saving options. The methodology used in the research is descriptive study .the research is based on secondary data. The author concludes with the government and RBI are focusing on innovative system is to ensure financial inclusion by making it easier.

Dhananjay.B and Suresh Chandra.B [2015the examination depends on electronic financial unrest. The creator investigation whether there is a critical improvement in retail electronic installment items after the development of NPCI when contrasted with before period-test was utilized so as to break down the above speculation. The creator presumes that there is a noteworthy contrast between the prior years development of NPCI and after arrangement of NPCI. The creator finishes up there is a noteworthy contrast for a paper clearing ,retail clearing ,NEFT, keen cards in any case, critical distinction was not found for ECS.

Niranjana murthy.M [2014] the investigation depends on suggested online installment technique in PayPal. The creator primary point is to comprehend security electronic exchange, learning on sorts of online installment framework and furthermore looking at PayPal versus stripe, Google checkouts and amazon installment, upsides and downsides in PayPal. The examination depends on auxiliary information. The creator closes with that there is bit of leeway of utilizing PayPal for both the merchant and the client, capacity to acknowledge universal installment and cards, watched the track of exchanges, incorporating installments with e-narrows.

Dr. Roshan lal and Dr. Rajini saluja [2012] the investigation depends on the Indian situation. The creator center is to recognize different e-banking administrations/items embraced by Indian bank, to think about and investigate the advancement made by our financial industry in reception of innovation and to consider the difficulties face by our banks in selection of innovation and made proposals to handle these difficulties. The examination is auxiliary information dependent on systematic in nature. Factual and scientific apparatuses are utilized. The creator closes with India is in simply appearing and starting to showcases indications of future potential stage.

Fatemen sole Imani roozbahani, sanaz nikghadam hojiati and riehaneh azad [2015] the investigation depends on job e-installment apparatuses for consumer loyalty. The creator center around consumer loyalty that is since consumer loyalty is a high need as one of the objectives of banks and credit firms. The examination point is to explore the job of e-installment devices and e-banking in client satisfication.the research is graphic in nature the measurable populace of this exploration comprise 80 gold clients, test size is 66 .35 was chosen utilizing Cochran's condition with 5% blunder level. The creator presume that there is a positive and noteworthy connection between e-installment apparatuses and e-banking.

Limitations of traditional Payment Systems in the context of online Payments

Several limitation of traditional payment system in the context of e commerce can be outlined.

a) Lack of usability. b) Lack of security. c) Lack of eligibility. d) High usage costs for customers and merchants. e) Lack of efficiency. f) Lack of consistency.

III. OBJECTIVES OF THE STUDY

1) To know the service rendered by the e –wallet‘s. 2) To know online payment system

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3) To Understand different payment technology. 4) To analyze the student perception.

IV. RESEARCH METHODOLOGY

This studied have been carried out on E-Payment System. Mainly on

Primary data are collected through structured questionnaires and distributed to students. This research is mainly focus on student’s perception.

Secondary data have been collected from various sources including websites, newspapers, various published and unpublished article about pre-primary education etc.

Sample size: The sample size was determined by both by qualitative and quantitative approach. This study was conducted in the urban area of Bangalore city, which is located in in the southern part of the Karnataka. The sample size of the study was 100 respondents, consisting of urban population. The respondents were the users of electronic wallet. The questionnaires were distributed among 100 respondents, but we received fully 100 valid responses

V. SURVEY INSTRUMENT

Survey sent to the individual worried about solicitation to respond to the inquiries and return the poll. The poll is sent to respondent who expected to peruse and comprehend the inquiry and record the answer in the space implied for the reason in survey itself. A survey comprises of various inquiries printed or composed in an unequivocal request on a structure or set of structures. The respondent to have addressed the inquiries all alone. Target type questions have been planned in overview .Some reactions have been gathered from individuals. Like (understudy, Professional). The consequence of study appeared in diagrams and segment outlines.

VI. Data analysis and interpretations

Studied have been carried out on E-Payment system Questions are related to E-Payment system in which given options on the below table and are clearly explained through the help of graph and pie charts.

Table1: Demographic profile of the respondents

Categories Count Percentage Age 12-18 years 20 20.0

19-25 years 57 57.0 26-32 years 9 9.0 Above 32 years 14 14.0

Education SSLC 15 15.0 PUC 13 13.0 Under Graduation 37 37.0 Post-Graduation 17 17.0 Professional 17 17.0

Source: primary data

This chart represent the student’s age category for this study

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This chart represent student different qualification category for this study

Analysis

For the above table and charts which represents the age and qualification for this study shows that the students are classified based on five category. Students who are in the age group of 19-25 having highest 57% percentage of are more interest towards the e-wallet following by the age group that is 12-18 are having a

0

10

20

30

40

50

60

12-18 years 19-25 years 26-32 years Above 32 years

Age

Age

0

5

10

15

20

25

30

35

40

Education

Education

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second highest percentage of 20% following by the third category age group above 32 having a percentage of 14% and analyzing the least age group is 9% .

The second chart represents the qualification category of the students for this study here the pie-charts shows that the under graduation students have more interest towards e-wallet having a highest percentage of 37% following by the under graduate students having a second highest percentage of 17% and then professional having a percentage of 17% this is also a neutral then students are in the category of 15% having a SSLC and the least percentage are 13% they are PUC.

Table2: preference regarding usage of e-wallet for purchasing products/service.

Products/Services No. of respondents Percentage Books 10 10.0 Movie tickets 24 24.0 Bill payments 9 9.0 Bill/railway reservation 6 6.0 Shopping 23 23.0 Recharge mobile 8 8.0 Fund transfer 5 5.0 Source: primary data.

The bar charts represents the number of respondents for this category

10

24

9 6

23

8 5 05

1015202530

No. of respondents

No. of respondents

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The pie-chart represents of number of respondents of students towards usage of e-wallet

VII. Analsyisis

For the above table shows that the students are included in the useage of e-wallets for products /sservices are represented by both bar charts and pie-charts. In pie-charts the number of students who are using of e-wallets are highest is 28% category who opt for movie ticket following by the 27% shopping which is seccond highest followed by 12% who opt for books which is known as averge follwed to this is 11% are in billpayments followed by 9%,7% and finally least percentage is fund tranfer

Highest is 28% = movie ticket

Least is 6% = fund transfer

Table3: Related to factors influencing to opt for e-wallet.

Factors influencing to opt for e-wallets

Strongly Disagree

Disagree Average Disagree Strongly Disagree

Instant payment 27 52 8 2 - Reputation payment

26 34 27 2 -

Instant refunds 10 27 40 10 2 Rewards and offers

42 19 13 9 6

Source: primary data.

The column chart represented the factors affecting for e-wallet

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01020304050

Strongly agree

StronglyDisagree 0

102030405060

agree

Disagree

01020304050

Average

Average 02468

1012

Disagree

Disagree

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Analysis

The above study shows that the column charts represented is usage of e-wallets by the students in regarding to the purchasing of goods/services they are more interest towards the offers and reward from the e-wallets they are agree and instant refunds followed by the next highest.

Table 4: overall performance towards E-wallet.

Particular No. of respondents Percentage Yes 89 89.0 No 11 11.0

This pie-chart represents of students overall performance

Analysis

This study towards of e-wallet overall represents the no of respondents is more when compared to the respondents who have told not to opt for e-wallet. This shows a positive altitude of a student’s towards a e-wallet and it is also benefits to the consumers as a whole.

VIII. Findings

New and improved methods of payments are more widely used by the younger generation due to higher level of acceptance of new technologies.

02468

Strongly Disagree

StronglyDisagree

89%

11%

No. of respondents

Yes

No

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The preference method of payments is debit card, with use of contactless payment and apple pay as a method of mobile payment. The preference is down to convince of features, ease of use and an aspect of time saving.

University students continue to perceive cash payments as advantageous due to the ability to control finance more effectively, for the main reasoning that tangible money gas value and its harder to part with.

The disadvantages to physical cash are perceived with higher significance due to the lack of security and insurance.

The limitations of cashless payments are mainly believed to be fear of fraudulent activity and the ease of increased spending.

IX. SUGGESTIONS

The government should compel the online shopping sites to detail their privacy for conflict resolution. Online security is found to be major issue influencing the future diffusion of online shopping. The fear

of purchasing online by using a credit would be reduced if the companies and different banks collaborate, and the banks maintain online account directly.

Online markets should use innovative and reachable sales promotion strategies to attract customer towards online shopping.

Government should provide affordable and high speed internet access to the people across the country. To boost the confidence of the existing and new online shoppers, government should provide adequate

legal frame work to ensure stringent measures are taken against people who indulge in online fraud.

X. CONCLUSION

Electronic Payments (e-payments) refers to the technological breakthrough that enables us to perform financial transactions electronically, thus avoiding long lines and other hassles. Electronic Payments provides greater freedom to individuals in paying their taxes, licenses, fees, fines and purchases at unconventional locations and at whichever time of the day, 365 days of the year. After analysis and comparison of various modes of electronic payment systems, it is revealed that it is quite difficult, if not impossible, to suggest that which payment system is best. Some systems are quite similar, and differ only in some minor details. Thus there are number of factors which affect the usage of e-commerce payment systems. Among all these user base is most important. Added to this, success of e-commerce payment systems also depends on consumer preferences, ease of use, cost, industry agreement, authorization, security, authentication, non-refutability, accessibility and reliability and anonymity and public policy. The Reliable and Cashless payment system offers immunity against theft of paper and e-money, and adopting e-payment solutions or systems for different reasons. In addition to cost reduction, reference was made to a number of other benefits, including improved customer service, improved working capital, increased operational efficiencies and cycle times, processing efficiencies and enhanced compliance to organizational policies and procedures This opportunities e-payment operation increases different levels of risks for marketing. More than ten Years of Internet marketing research have yielded a set of important findings. Based on our review of these findings, it is clear that the Internet is playing a more and more important role in the field of e-payment .peoples are becoming aware of the need to measure the collaborative effects of e-payment.

REFERENCE

[1] Denis Abrazhevich.” “Electronic Payment Systems: a User-Centered Perspective and Interaction Design”, Proefschrift. -ISBN 90-386-1948-0NUR 788, 2004.

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[2] Kaur Man jot, E-Commerce, Kalyani Publication, New Delhi (2012).

[3] Aliya Izhar, Ahab khan, Malik Sikandar Hayat Khiyal, 4Wajeeh Javed and Shiraz Baig“, Designing and implementation of Electronic Payment gateway for developing countries”, journal of Theoretical and applied information technology, vol, 26 No. 230 April 2011.

[4]Hossein Bidgoli (2002).Electronic commerce. Academic press. Ed. California: USA

[5] Joseph P.T, S.J (2008) An Indian perspective, 3rd edition, E-Commerce, by PHI learning private limited.

[6] Delali Kumaga Dec 2010 the challenges of implementing Electronic Payment Systems – The Case of Ghana’s E-switch Payment System

[7] Yang Jing,” “On-line Payment and Security of E-commerce”. Proceedings of the 2009 International Symposium on Web Information Systems and Applications (WISA’09)Nanchang, P. R. China, May 22-24, 2009, pp. 046-050

[8] Kolkata Ravi, Electronic Commerce, Published by arrangement with Pearson Education, Lnc and Dorling Kindersley Publishing lnc (1997).

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