A STEP TOWARD CASHLESS INDIA WITH REFERENCE TO RISING USAGE OF ONLINE WALLETS SERVICES

Abstract

Background: For a long time India is trying to country dominant in digital currency compared to physical currency through various online payment methods, in which online wallets have played a significant role in this as these wallets can be operated through simple technical devices such as smartphones. Many companies have created and launched various online payment wallets and the majority of people have started accepting it in a short span of time. But many users are choosing other companies' wallets services compared to the previous service provider. Because there is a wide diversity in service of many service providers, which makes it is important to study factors responsible for the long-term usage intentions of users. The researches focusing on these aspects of quality are very small in number with factors such as quality of service, information and system. This paper aims to converge this gap through the application of a research model by connecting the two aspects of technical quality and acceptability. Methodology: This study used primary data collected through an online questionnaire from Indian users of online wallet services. For analysis of data Structural Equation Modelling was adopted. Results: The findings showed that the quality of information which users have regarding mobile wallets has a major influence on its usefulness although a major influence on the usefulness of quality of service and quality of the system was not seen. The security factor is majorly influenced by the quality of service and system. Long-term usage intentions of online wallet services are also majorly influenced by the security and usefulness of online wallet services. Originality: This research will give comprehensive insights to the managers of companies, developers of technology and providers of online payment wallet services, which will help them to give more emphasis on various aspects of quality concerning technology and proposition of value. This study is among those few studies which focused on various aspects of quality concerning the technology of online wallet services.