A Study of User Behaviour and Preferences across Age Groups Towards Digital Wallets.

Information technology has transformed multiple industries with startlingly rapid progress. Banking is one of the industries which is determinedly using information technologies to automate many of its services. One such area that got transformed is the way money was transferred. With the advent of digital wallets, there has been a dramatic shift in payment method preferences and behaviour. The present research paper studies the behaviour and preferences of digital wallet users across various age groups. The data was collected from 101 respondents from four different age groups using structured questionnaire. The data was analysed using tests like cross-tabulation, Leven statistics and ANOVA. The researchers found that Google Pay was the most preferred digital wallet followed by Paytm and PhonePe. Google Pay was successful in capturing significant market even after coming late into the market. Most users of digital wallets use it for bookings, bill payments, fees payments and transportation payments. It was found that respondents believe that digital wallets are safe to use. [ABSTRACT FROM AUTHOR]