A Study on Growing Popularity of Digital Wallets among Youngsters in Kerala

Abstract

Any economy's lifeblood is seen as being money. Transactions are now simple in the current environment because to the constant advancement of technology, the internet, and mobile phones. Money transfers and other payment methods are offered on the market. The primary component of digitization is mobile wallets. As opposed to using cash, people prefer to make digital payments. People now prefer cashless transactions more than they did in the past due to demonetization and the unanticipated COVID outbreak. Because money notes are handled by many different people, the transmission of pathogens is also possible. Mobile wallets have greatly simplified and improved our way of living. A digital wallet safely and conveniently maintains all of the users' payment information. There is far less need to carry actual wallets as a result. Only the mobile wallet allows a smart phone to be used as a wallet. These wallets allow for the secure addition of money as well as direct bank account integration. India is moving towards a digital future. Digital wallets are a key component of the digitization process. Within this little time frame. Based on diverse observations, several academics from across the world have investigated digital wallets. However, there is no evidence that anyone has looked into how prevalent digital wallets are among young people. Therefore, the goal of the study is to determine how common digital wallets are among young people. In this study, the gender disparity in usage, transaction volume, usage experience, and transaction count in digital wallets is being examined.