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4. BUSINESS RESEARCH MANAGEMENT -2
SUBMITTED TO: SUBMITTED BY:
DR. BHAJNEET KAUR SAJAL AGARWAL
ROLL NO : (22PGDM026)
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A
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STUDY ON IMPACT OF MOBILE PAYMENT WITH SPECIAL REFERENCE TO YOUTHS

5. INDEX
Sr CONTENTS PAGE
No. NO.
1 ABSTRACT 3
2 INTRODUCTION 3
3 REVIEW OF LITERATURE 4
4 OBJECTIVE 5
5 RESEARCH METHODOLOGY 6
6 HYPOTHESIS 6
7 CASE PROCESSING SUMMARY WITH INTERPRETATION 7
8 ASSOCIATION B/W AGE AND MODE OF PAYMENT 8
9 INTERPRETATION 9
10 RELATION B/W AGE OF RESPONDENT AND PERIOD OF USAGE 9
11 FINDINGS AND SUGGESTIONS 10
12 CONCLUSION 11
13 REFERENCES 12
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6. Th
of
A STUDY ON IMPACT OF MOBILE PAYMENT WITH SPECIAL REFERENCE TO YOUTHS
:
ABSTRACT:
A mobile wallet is a catch-all word for the assortment of technologies that makes it possible to store
financial data and conduct transactions online. It takes on new meaning for payments made without
cash. Smart and simple purchases are improved by M-Wallet everywhere. Through M-Wallet,
millions of people can receive benefits with just a few clicks. It promotes economic and commercial
activity. The use of M-Wallet, which is the fastest-evolving technology, will gradually replace the
current transaction and payment systems and fortify the digital payment infrastructure. It turns
into a platform for storing digital transactions and streamlining and improving banking processes.
It focuses on meeting the requirements of contemporary enterprises. It aids in making routine
financial transactions less difficult. Numerous mobile applications are available to consumers on a
single device.
Keywords: M-Wallet, Mobile Payments, Youth perception, User preference, Future growth, mobile
application.
INTRODUCTION:
According to a recent World Bank report, India has overtaken China as the country with the world's
fastest-growing economy over the past several years. Nearly 40 million people in India currently
use the MWallet system, which has been embraced by 2 lakh retailers. It offers services like online
banking, bill paying, and tax filing. The employment of advanced technology in the modern day
facilitates corporate operations and financial transactions in all sectors. It has a significant impact
on commercial activities. M-Wallet has anything to do with information technology.
Users can do any national or international financial transaction while seated at home. An individual
required to visit the bank in the past in order to conduct any type of banking transaction. However,
at this time, technological advancement has replaced such a conventional method with M-Wallet.
M-Wallet is widely used and gaining popularity in the business world quickly. It enhances the
security features when handling money matters.
India has replaced China as the country with the world's fastest-growing economy in recent years,
according to a recent World Bank report. 2 lakhs of merchants in India use the M-Wallet system,
which has been embraced by around 40 million individuals. It offers services including online
banking, bill payment, tax payment, and other things. With the amazing technical breakthroughs of
the current world, managing company and financial activities is simpler. M-Wallet has to do with
information technology, which has a big impact on business operations. Customers can conduct any
financial transaction from the convenience of their homes, both domestically and abroad.
The revenue from mobile payments has nearly tripled globally over the previous five years, showing
6
that the industry is expanding at an incredible rate. e reasons behind this phenomena are still
unidentified, though. The purpose of this essay is to identify the key factors that have the greatest
2
impact on the success of mobile payments. We'll start by looking at the condition mobile
payments right now. With this brief background in mind, we then address numerous queries
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7. pertaining to the three major players in the mobile payment ecosystem: m-payment service
5
providers, consumers, and merchants. Consumer preferences, business models for mobile
payments (including value proposition, market participation, and revenue source), and mobile
payments business models.
A mobile payment system is a piece of technology that enables online shopping and conducting
electronic commerce transactions. The use of a digital wallet that is connected to a person's bank
account is also permitted. Customers can avoid entering information every time they complete a
transaction by storing payment data in digital wallets. An example of electronic data interchange
(EDI) is a digital payment system. (EDI). Mobile payment solutions have become more and more
popular as a result of the widespread use of online banking and shopping. Since the Indian rupee
was demonetized on November 8, 2016, its appeal has increased.
REVIEW OF LITERATURE
Sanghita Roy and Dr. Indrajit Sinha (2014) : : A study on the factors influencing client
acceptance of electronic payment systems in Indian banks was conducted in 2014 by Sanghita Roy
and Dr. Indrajit Sinha. The goal o
6
f this study is to determine which electronic payment system is
used the most frequently among all available payment options. Ensure that you are using and are
aware of electronic payment methods. The study's primary objective was to list every aspect that
influences consumer approval.
Prof. Hariom Tyagi and Dr. Abhishek Shukla (2016): research was done on the
electronic payment system. This study aims to pinpoint the issues and difficulties facing
the electronic payment system and to offer suggestions to enhance its performance. The
management of security and privacy issues is key to a successful implementation that
increases customer satisfaction.
Dr Hem Shweta Rathore (2016): consumer acceptance of digital wallets was studied. This
study concentrated on the variables that affect a consumer's choice of a digital payment
option. The study offered suggestions for educating consumers about the advantages of
using digital wallets and came to the conclusion that, because of its acceptance and
simplicity, digital wallets will fast become a common payment option.
N Ramya D Sivasakthi and Dr. M Nandhini (2017): carried out study on Cashless
Transactions: Methods, Benefits, and Drawbacks. The goal o
6
f this study is to create a "less
liquid society" by examining the RBI and Indian government's efforts to promote digital
payment alternatives. It investigated various cashless payment systems, including mobile
wallets, UPI apps, and debit/credit cards.
Sujith T S, Julie C D (2017) conducted research on opportunities and challenges of
electronic payment system in India. This study focuses to identify the problems and
challenges of the electronic payment system and propose solutions to improve it.
Research shows that the reach of mobile networks, internet and electricity is extending
digital payments to remote areas, which will increase t
2
he number of digital payments.
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8. th
Ashish Baghla (2018) conducted research on the Future of Digital Payments in India. This
study focus on the adoption of digital payments in India. This study focuses to understand
people's attitudes towards the adoption of digital payment methods in India. It concluded
that government efforts to make India cashless are going well, but it will take time to
become completely cashless due to other challenges.
K. Suma Vally and Dr. K. Hema Divya (2018) conducted research on a study of digital
payments in India with perspectives of consumers. This study focuses to verify the
perception of customers about digital payment in India and suggest appropriate steps to
raise awareness and security of using digital payments.
Prof. Sana Khan and Ms. Shreya Jain (2018) conducted research on the use of electronic
payments for sustainable online business growth. This study focuses on the frequency and
problems that consumers face when using payment methods. The researchers also
examined the influence of the contribution of electronic payments on the sustainability of
business growth in India.
Priyanka S Kotecha (2018) conducted research on empirical Study of Mobile Wallets in
India. This study examines the importance of M-Wallet in India and highlights its pros and
cons. It also shows the growth of mobile wallets in India from 2012 to 2016, mainly due to
the convenience of mobile wallets.
PROBLEM STATEMENT/RATIONALE OF THE STUDY:
The reason for conducting this research is to know about impact of smart phones in mobile
5
payments, their acceptability, to examine e impact of age in online payment method.
OBJECTIVES OF THE STUDY:
To understand how smartphone use affects the utilization of mobile payments among
today's young, India
To determine whether the mobile payment system is acceptable.
To learn if cashless transactions have benefited the Indian economy.
To investigate how age affects digital payments.
To examine the development of mobile payment apps.
To study the awareness of youth towards different services in mobile payments.
To study the satisfaction of services offered in MobilePayments.
To analyze the factors influencing usage of Mobile payments
RESEARCH METHODOLOGY:
Research Design
2
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9. This research is based on Descriptive Research
method.
Sources of Data
The study is based on primary and secondary data. Primary data would be collected by using a
questionnaire from an age group between15-35. Secondary data would be collected from various
published sources like articles, newspapers, magazines, etc. and through the internet. The sample
size was 84, convenience sampling technique was used to obtain data.
Data collection method
In this research, we use Survey and Questionnaire methods for data collection.
Sampling method
Simple Random Sampling method is used.
Sampling frame
The sample size for the research includes 84 respondents.
Tool used
9
Statistical tools are involved in carrying out a study include planning, designing, collecting data,
analysing, drawing meaningful interpretation and reporting of the research findings. The tools are
used is
Chi-Square test
HYPOTHESIS:
2
Null hypothesis (H0): There is no positive relation between the gender who use mobile payment
Alternative hypothesis (H1): There is positive relation between the gender who use the mobile
payment.
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10. 8
Case Processing Summary
Cases
Valid
N Percent
Missing
N Percent
Total
N Percent
gender * Which of these84
Mobile payment
100.0% 0 0.0% 84 100.0%
gateways are you prefer
using the
most
Gender * Which of these Mobile payment gateways are you prefer using the most Crosstabulation
Which of these Mobile payment gateways are you Total
prefer using the most
Chi-Square Tests
Value Df Asymp. Sig.
(2-sided)
Pearson Chi-Square 5.459a 3 .141
Likelihood Ratio
N of Valid Cases
5.742
84
3 .125
Interpretation
Null Hypothesis is accepted Since p value is greater than 0.05, we accept Null hypothesis and
reject Alternative hypothesis. Therefore, there is a no positive relation between the gender who
use mobile payment.
2
Table showing association between age and mode of payment
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Googl Phone pe
e
Pay
Paytm Any
other
Gender Male Count 21 11 11 1 44
Expected Count 24.6 10.5 7.3 1.6 44.0
Female Count 26 9 3 2 40
Expected Count 22.4 9.5 6.7 1.4 40.0
Total Count 47 20 14 3 84
Expected Count 47.0 20.0 14.0 3.0 84.0
7

11. Chi-Square Tests
3
Null hypothesis (HO): There is no significant difference between the Age and Mode of payment.
Alternative hypothesis (H1): There is significant difference between the Age and Mode of
Payment.
8
Case Processing Summary
Cases
Valid Missing Total
N Percent N Percent N Percent
Age * Mode 84
of
payment
100.0% 0 0.0% 84 100.0%
Age * Mode of payment Crosstabulation
Mode of payment Total
3
Debit Credit Mobile Any
card card payment other
Age 18-30 Count 8 1 66 2 77
Expected Count 8.3 .9 64.2 3.7 77.0
31-50 Count 1 0 4 2 7
Expected Count .8 .1 5.8 .3 7.0
Total Count 9 1 70 4 84
Expected Count 9.0 1.0 70.0 4.0 84.0
7
Value Df Asymp. Sig.
(2-sided)
Pearson Chi-Square 9.901a 3 .019
Likelihood Ratio 5.700 3 .127
2
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12. N of Valid Cases 84
Interpretation
3
Alternative hypothesis is accepted Since p value is lesser than 0.05, we accept Alternative
hypothesisand reject Null hypothesis. Therefore, there is significance difference between
Age of the respondents and the mode of payment.
To find out the relation between the age of the respondent and the period of usage:
Chi Square A Chi-square test was conducted to find out the relation between the age of the
respondent and the period of usage
Showing the Ages of the respondents and Periods of usage
Period of usage
2 Months 6Months-2 Years 2-3 Years Above3 Years
Total
Age of the 1 8 25 10 10
respondents
2 10 4 3 4
3 2 5 1 2
Total 20 34 14 16 84
7
a. 7 cells (58.3%) have an expected count of less than 5. The minimum expected count is
Pearson Chi-Square
Likelihood Ratio
N of Valid Cases
Value
9.901a
5.700
84
df Significance
3 .001
3 .001
1.25. The test result shows that, X2 = 9.901 df = 3, p-value
= 0.001
3
Since the P-value of the above test is 0.001, which is greater than 0.05, it is Significant.
Null Hypothesis H0 is rejected.
It is concluded that there is an association between the age of the respondent and the period of
usage of mobile payment.
FINDINGS AND SUGGESTIONS:
2
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13. The majority of the respondents are within the age group of 15-23, that is 88.7% and2.5%
of the respondents are of the age above 36.
Among 84 respondents 67.2 % are female and 32.9% are male.
2
The majority of the respondents describe their current level of usage of mobile payments
as satisfied.
The majority of the respondents use Google pay as their mobile payment app.
Majority of the respondents that is about 30% of the respondents are aware of the
transaction limits of the mobile payment.
4
The majority of the respondents; about 40% of the respondents use mobile payments for
bill payments.
The majority of the respondents, that is, 20% use mobile payments for fund transfers.
15% and 8% of the respondents use mobile payments for banking facilities and credit
facilities.
Most of the respondents 58.9% stands strongly agree with the statement -
Payment saves your time
Most of the respondents 47.7% stands agree with the statement -Payment systems are
better than cash
Most of the respondents 52.7% stands agree with the statement -Payment systems offer a
greater choice
Most of the respondents 49.5% stands agree with the statement -Payment system scan be
easily
Easiness of the app, the safety and security, cashback and voucher facility of the app
motivated respondents to use this app.
CONCLUSION
From the research, it can be concluded that the usefulness of mobile payment platforms is
one of the main drivers of their business. The level of access, convenience and comfort as
2
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14. well as the monetary and non-monetary incentives offered by these companies are
1
decisive factors. Income was not related to the choice of mobile payments, but education
and awareness turned out to be the deciding factors.
As the introduction of smartphones has changed numerous matters in our everyday lives
like an alarm clock, watch, track player, and tape recorder it appears that money and
wallets are quick to be delivered to this list. Payment methods have been through a
sequence of evolutions from cash to checks, to debit cards and credit cards, and now to e-
commerce and mobile banking.
This study finds that consumers are increasing the use of mobile payment methods for their routine
online purchases and their on- site purchases as well. With growing advanced technology that supports
mobile transactions and makes them transparent and more convenient, consumers have evolved their
trust and behavior in using mobile payment systems.
The changing behavior of consumers making a shift from conventional payment methods to more
advanced online payment systems is quite evident in banking and retailing and with most of the mobile
devices available.
side and the opportunities this technology enables for online and offline payment regarding convenience
and security, it is unavoidable that the use of mobile payment systems will further rise with the ambition
to surpass or even replace cash and other cashless payment option.
This research also concluded that for a promising future in this industry, mobile payment systems have
to be better integrated with present telecommunication and financial infrastructures.
Enhancing the compatibility with a wide range of users, the use of the latest era and establishing
common standards for various service providers, and overcoming the security and privacy issues
could help in facilitating faster adoption of digital payment methods and advance the rising market
of mobile payments.
This research aimed to embrace a brief spectrum of possible issues with electronic payment methods
and consumer adoption of e- commerce to make payments for their purchases. Future research may
focus on the validation of factors that can contribute to the successful adoption of mobile fee methods
across the globe.
REFERENCES
1. https://acadpubl.eu/hub/2018-119-15/3/546.pdf
2. https://ijcrt.org/papers/IJCRT2105774.pdf
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15. 3. https://ijcrt.org/papers/IJCRTIEPE027.pdf
4. https://www.ijsrm.in/index.php/ijsrm/article/downloa d/698/616/1198
5. https://ijaem.net/issue_dcp/A%20Study%20on%20Di
gital%20Payments%20in%20India%20and%20Its%2 0Impact%20on%20Consumers.pdf
6. https://www.inspirajournals.com/uploads/Issues/8982 76372.pdf
7. https://www.iosrjournals.org/iosr- jbm/papers/Conf.18011-2018/Volume-
2/Marketing/10.%2074-81.pdf
8. https://www.ijbmi.org/papers/Vol(7)7/Version-
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