This document presents an empirical study on consumer perception of digital wallets among college students in Faridabad, exploring their adoption, influencing factors, and obstacles. It defines mobile wallets and outlines the technology's features, advantages, and challenges including system outages and security concerns. The study aims to understand students' views on this technological service and its potential impact on payment methods.

1. Consumer Perception towards
Digital Wallets
(An empirical study on college students of Faridabad)
-Somyadarshna
BBA (IIFSB)
5th Semester
Satyug Darshan Institute of Engineering and Technology

2. In the past few
thousand years, the way
we pay has changed
just four times—from
barter system to coins,
to paper money, to
plastic cards.
Now we’re on the brink
of the next big shift. We
now have introduce the
digital wallet, which
contains the virtual
versions of our existing
plastic cards.

3. WHAT IS A MOBILE WALLET
DIGITAL WALLET A STEP TOWARDS DIGITAL INDIA
A mobile wallet is a way to carry
your credit card or debit card
information in a digital form on your
mobile device. Instead of using your
physical plastic card to make
purchases, you can pay with your
smartphone, tablet, or smart watch.

4. OBJECTIVES OF MY STUDY
 To understand how students perceive
technological service namely Digital Wallet
 To study student’s adoption status of mobile wallet
with research area limited to Faridabad.
 To study the factors influencing the use of digital
wallet over other mode of transactions.
 To bring out reasons or limitations creating
obstacles in use of digital wallets.

5. User Profile Manager
Instrument Manager
Protocol
Manager
Communication Manager
Wallet
Controller
User
Interface
Client
API
User
Interface
API
Instrument
Instances
Protocols
Manages all of the
financial instrument
options contained in the
wallet, for example, it may
be queried to determine
which instrument classes
and instances are available
to execute a given
payment or other
operation
Provides the wallet with an
interface to send and
receive messages between
wallets and peer
commerce components by
setting up a connection
with a remote
Communication Manager.
Manages all of the
protocols that the wallet
may use to accomplish
various operations, and
invokes protocols to carry
out the interaction
between the digital wallet
and the vendors and
banks.
Manages information
about clients and groups
of clients of the wallet
including their user names,
passwords, ship-to and
bill-to addresses, and
potentially other user
profile information as well
Presents a consolidated
interface for the wallet to
the client. The Wallet
Controller hides the
complexity of the other
components of the wallet,
and provides a high-level
interface to the client.
Builds on top of the
connection abstraction to
support the concept of a
session. Responsible for
encryption of data.Provides a graphical
interface to the services
offered by the Wallet
Controllers interface
WALLET ARCHITECTURE

6. Features of e–wallet:
 Refillable
 Infinite lifetime
 Current balance can be stored and read
 User authentication is provided
 Universal access
 Maximum possible cash
 Cannot be duplicated

7. CONSUMER USING MOBILE
WALLETS

8. ADVANTAGES
 Ease of use:
 Withdraw or deposit value by telephone
 Pay the exact amount, no fiddling for change
 No signature required
 Immediate payment
 Flexibility:
 Transfer value by telephone
 Pay person to person
 For low or high values
 Multi-currency capability
 No age limit, so suitable for all the family

9. ADVANTAGES…
 Safety and control:
 Spend only what you have
 Read your balance
 Load value at home
 Lock your card or wallet
 Keep track of what you have spent and where
 Customer is traceable if a lost card is found
 Accessibility and convenience:
 Cash machines and telephones give more access points to funds in
bank account
 Available 24 hours / 365 days
 Cash machines and telephones cannot run out of electronic cash

10. DISADVANTAGES:
 System Outages: Information for digital wallets are stored on the
cloud of business servers; therefore, the risk of a system malfunction
or shut down is always present. As a result, businesses will not be
able to process payments or they will become increasingly slow due
to high traffic in the servers.
 Security: Companies must ensure that their customers' information is
encrypted and well protected. One of the biggest concerns of
adopting a digital wallet application is "will my information be safe"?
This is the hurdle that companies must face and as a result, must
develop security systems that are as safe and full proof as possible to
avoid potential security issues.
 Stake Holder Dynamics: Satisfying the business and strategic goals
of multiple stake holders such as banks, retailers, regulatory bodies,
is difficult.
 Compelling user experience: A user-friendly wallet interface, easy to
use and intuitive is difficult to produce.

11. THANK YOU!!