Paper Details

Name: Suman Nayyar, Nitika Bhandari
Country: India

Year: 2025
Volume: Volume-12, Issue-2, Year-2025(Special Issue)
Page Number: 47-57
DOI: https://doi.org/10.5281/zenodo.17760633

The adoption of mobile wallets in India has witnessed significant momentum, particularly
after the demonetisation initiative implemented by the Government of India in November
2016. This policy shift acted as a catalyst in transforming consumer payment preferences,
accelerating the movement toward a cashless economy. In addition, ongoing governmental
initiatives, such as Digital India and Unified Payments Interface (UPI) integration, continue
to encourage digital transaction behaviour among citizens and commercial entities.
The primary objective of this study is to investigate the determinants influencing the adoption
and intention to use mobile wallet services among customers and businesses in New Delhi.
The research further explores the rate of acceptance of mobile wallet systems among small
and medium-sized enterprises (SMEs) and identifies the most preferred wallet service
providers in the region. The Technology Acceptance Model (TAM) serves as the theoretical
foundation to examine behavioral factors related to the perceived usefulness, ease of use, and
intention to adopt mobile wallet technology.
This study contributes valuable insights for policymakers, Fintech providers, and business
stakeholders seeking to enhance mobile wallet penetration and improve user experience,
ultimately supporting India’s transition toward a digitally empowered financial ecosystem.
Keywords: mobile wallet adoption, Technology Acceptance Model (TAM), digital
payments, consumer behaviour, Fintech, cashless economy, India, Paytm, UPI, small
businesses