A Study on Awareness and Experience on E-Wallets Amongst People in Tambaram Area

Abstract

The use of electronic medium is in full swing today.  The year 2017 saw Government of India demonetizing high value currency notes.  This was done to curb circulation of black money which had assumed very high proportions.  Simultaneously, Government of India started encouraging digital payments system in the financial sector.  Electronic wallets (e-wallets) which were sparingly in use prior to the demonetization assumed significance in the post demonetization era.  Today, we see people using e-wallets to a very great extent because of the convenience and safety afforded by this mode of payment.The extent of use of e-wallets has been increasing day by day in the last three years and people have been enjoying its use.  People have fairly good amount of awareness about e-wallets today.  The use of e-wallets have also given rise to plenty of experiences to them.  This study has made a comprehensive attempt to study both the awareness about e-wallets and the experiences given by e-wallets to the people at large.  As Tambaram in Chennai city happens to be a residential cum commercial area, the study has been carried out here.  The study about awareness level of e-wallets and the experiences gathered by users from e-wallets has been carried out with 111 samples.  The study uses percentage analysis, Correlation analysis, Chi-square analysis to arrive at meaningful results from the sample.