A STUDY ON DIGITAL WALLET USAGE STUDY

Abstract

The rapid growth of digital technology has transformed the way people conduct financial transactions, making digital wallets an essential component of the modern payment system. This study examines the usage of digital wallets by analyzing consumer awareness, adoption patterns, preferences, benefits, challenges, and overall satisfaction with digital payment platforms. The research aims to understand the factors influencing the acceptance and frequent use of digital wallets, including convenience, security, ease of use, cashback offers, and transaction speed. Primary data collected through a structured questionnaire and secondary data from journals, reports, and published literature were used to evaluate user behavior and trends. The findings indicate that digital wallets have significantly enhanced the efficiency of cashless transactions, particularly among younger consumers and urban populations. However, concerns regarding cybersecurity, privacy, internet connectivity, and digital literacy continue to influence user confidence. The study concludes that digital wallets play a vital role in promoting financial inclusion and supporting the digital economy, while continuous technological improvements and enhanced security measures are essential to increase consumer trust and encourage wider adoption.