An empirical study of customer adoption of mobile wallet payment services: A case study of the city kurali of Punjab

The telephone which was once a communication device shared by a household, has now transformed into a smartphone, a multi-use device owned by one person. In addition to finding information about health, applying for jobs, using social media, more than half of the smartphone owners use their device for banking. The paper at hand studies the various factors which contribute to the adoption of mobile wallet payment services by the customers and the various aspects which can contribute to the growth of this service among the customers. Attempt has been made to examine the influence of the variables, viz. Convenience, Trust, Security, Adaptability to Mobile applications on the satisfaction derived from mobile wallet. The researchers have restricted this study to the Kurali city in SAS Nagar District of Punjab. The present paper sheds light on the various aspects - Respondents’ Demographic Profile, Factors affecting usage of Mobile Wallet and resorts to Pearson's Correlation Analysis using Statistical Package for the Social Sciences (SPSS) to examine the relationship amongst the various underlying variables. The findings of this study reveal that mobile wallets are the futures of cash. The days when they will be easily accepted at the ‘Kirana’ store, chemist shops and restaurants in India are not far; which also indicates that the physical wallet is one step closer to becoming redundant.