Objective:

1. To study the Past Present and future of E-Wallets

2. Current Market penetration both in Urban and Rural
3. Expected future growth

Literature Review

1. Paper Title: Trust enhanced technology acceptance model Consumer acceptance of mobile
payment solutions (2003)

Author: Tomi Dahlberg, Niina Mallat & Anssi rni

Literature Review: Study was on whether the Technology Acceptance Model (TAM)
describing user acceptance of technology offers comprehensive explanation for consumer
decisions related to adoption of mobile payments. Their analysis suggests that the Technology
Acceptance Model (TAM) provides a good basis to explain use of mobile payment solutions,
yet, data proposes that a new construct, trust, should be included into the model to augment
the present descriptors in explaining consumer adoption decisions in the mobile payment
context.

2. Paper Title: Digital Wallet: Requirements and Challenges (2006)

Author: Rajesh Krishna Balan, Narayan Ramasubbu, Giri Kumar Tayi

Literature Review: Study was on the requirements and challenges of deploying a nation-wide
digital wallet solution in Singapore. Further they discussed why Singapore is ready for a digital
wallet and identify the key challenges in building and deploying a digital wallet and then discuss
some of the key challenges, supporting peer -to-peer cash transactions between individuals
using a digital wallet, in more detail and end the paper with their proposed solution.

3. Paper Title: Adoption Of Digital Wallet By Consumers

Author: Dr Hem Shweta Rathore

Literature Review: Study was on the three major factors which play an important role in
consumer adoption, which are convenience in buying products online, brand loyalty and
usefulness of digital wallet. It was found that digital wallet can be an alternate choice for online
payments but Security and safety of the funds is the most challenging issue for the users.
Dependency on internet connection to make payment is one of the major reasons for less
 adoption of digital wallet. The most adored feature of digital wallet is that it is a hassle free
mode of making an online payment.

4. According to a recent Ipsos study conducted across 6 cities covering metros and Tier 1 towns,
product awareness was noticed highest in Delhi, Mumbai and Bangalore. Paytm, Free charge
and Airtel money were the top service providers used by the consumers.

5. Paper Title: Mobile Wallet: An upcoming mode of business transactions

Author: Dr. Poonam Painuly

Literature Review: Study was about the presence of mobile wallet is spreading from urban
to rural areas on a large scale. Hence, wallet money sees a high bright future in near time. High
penetration will be seen in small businesses with rural as well as urban areas as it facilitates less
cash management and larger customers.

6. A BCG research shows Non cash payment transactions, which today constitute 22 percent of
the all consumer payments, will overtake cash transactions by 2023 and digital payments will
drive the growth in non-cash payments.