Mobile wallets are known as M wallets or currently called as digital wallets; they are a software design to enable the individual to make ecommerce transactions through digital wallets. With the help of smartphones and tablets and computers, they make the etransactions easier; they are used not only for online payment and purchase but also for authentication of users; it archives the complete data of users and transaction history and personal details including credentials.

Phone pe is a digital payment platform that runs on the UPI system; one needs to enter the bank account details and create a UPI ID. We do not have to reload the wallet as the money is safely withdrawn from our bank account with just a click. UPI is considered to be best as it is available at any time even on holidays and weekends; phone pe can be downloaded on Android and Apple phones. Based on the UPI, it is the first payment application. On 26 August 2014, the operating license was received by FxMart. Following in 2016, Flipkart took over this company. FxMart license was transferred to phone pe as part of Flipkart purchase and was renamed as phone pe wallet. In August 2016, the company made a collaboration with Yes Bank to launch a UPI-based mobile payment application.

Further in September 2019, to merge several other commercial applications, phone pe introduced phone pe switch; it enables users for easier switching between phone pe and other applications. The phone pe is used by 350 million users, and it is grown by 28% when compared to the last year.

Google Pay, commonly known as Gpay or Pay with Google, is a special type of digital wallet and online payment system. Google Wallet and Android Pay merged in January 2018 and were given the new Google Pay moniker. In India, Google launched TEZ in September 2017. Later, it changed its name to Google Pay. Digital wallets have been available in India for a month, and Google Pay has over 25 million active users. All transactions on Google are safe and secure.

We can send and receive money with Google, securely save our credit and debit card information, and use that information to make purchases in a variety of apps. Known for the security of other similar digital payment applications, Google Pay stores our credit/debit card information in Google’s secure services that use powerful encryption, cloud storage, and customer data protection.

Indian e-commerce and fintech business Paytm. The startup introduced Paytm Wallet, the first digital e-wallet, in 2014. Paytm offers online shopping, smartphone payments, and Paytm payments to banks and other services.

Paytm got a license from RBI in 2015, after which then Finance Minister Shri Arun Jaitley launched Paytm Payments Bank.

Two ways Paytm works are through its wallet and its own payment bank.

With Paytm, a digital payment system, we can transfer money and do online banking transactions using our debit or credit card. Once we register with Paytm, we can pay bills online or through our Paytm wallet by first loading money into our wallet.

WhatsApp pay has a feature of chat payment. That allows the user to send the money to their contacts through WhatsApp; it is UPI-based.

That allows the user to receive and send the money.

The National Payments Corporation of India developed the WhatsApp pay.

The survey method and its nature question the individuals and gather the data or information, through questionnaires and face-to-face interviews; the data extracted via this method are primary data, and techniques used to collect the data are related to a particular topic chosen for the study, and the questionnaire is related to the topic chosen.

A sampling method is a process for selecting the digital wallet users from the population. We have collected the data with 141 individuals, and the sample size is 141. The data are collected from convenience sampling. The study is limited to KGF, where the study can further be extended to other areas.

Based on the type of ownership of small-income business, the above illustration shows the respondents of sole proprietorship are 59 with 41.84%, those of family-owned small business are 55 with a percentage of 39.01, those of partnership firm are 17 with a percentage of 12.06, and those of co-operative society are 10 with 7.09 (Table 1).

As stated in the above illustration, the age of business as per the respondents in the 2–4 years range holds the highest number with 46 with a percentage of 32.62, that in the 5–7 years range shows 41 and 29.08%, that in the 8–10 years range shows 22 and 15.60%, and that in the 11–13 years shows 32, holding the percentage of 22.70. This survey overall means there is a higher number of young emerging entrepreneurs off late (Table 2).

The above-illustrated bar graph shows the data of average number of customers per day. According to 70 respondents, the average number of customers per day was 20–30, which is 49.65%; according to 43 respondents, it is 51–100 customers per day, which is 30.50%; and according to 28 respondents, it is above 100 per day, which is 19.86% (Table 3).

The above illustration shows the usage of digital wallets. According to one respondent, Airtel Money is used at a percentage of 0.71; 46 respondents have said that they use Google Pay at a percentage of 32.62; one respondent uses Jio Money, which is 0.71%; 35 respondents use Paytm at a percentage of 24.82; and finally, 58 respondents have said that they use Phone Pay at the highest percentage of 41.13 (Table 4).

In the above bar graph, the percentage of sales made by using a digital wallet is illustrated. Here, 33 respondents have stated that 10% sales is made using digital wallet payment in a day, 21 respondents said 20% of sales is made, 48 respondents have said 40% of sales is made, and 39 respondents have said 60% of sales is made using digital wallet payments (Table 5).

The above illustration depicts the number of times the digital wallet payment option is used in a day. Here, according to 38 respondents, the digital wallet payment option is used more than 5 times a day, which holds 26.95%; another 38 respondents have stated that it is used more than 10 times a day, which holds 26.95%; 22 respondents say that it is used more than 15 times a day, which is 15.06%; and 43 respondents say it is used more than 20 times a day, which is 30.50% (Table 6).

It is depicted in the above illustration the amount of sales made by using a digital wallet in a single transaction. Here, 46 respondents have said less than Rs 500 of sales is made through digital wallet payment in a single transaction, which is 32.62%; 37 respondents have stated that less than Rs 1000 of sales is made, which is 26.24%; 29 respondents have said less than Rs 2500 of sales is made, which is 20.57%; and 29 respondents have stated that less than Rs 5000 of sales is made, which is 20.57% (Table 7).

The above depicts the kind of offer the payment system company offers to their customers. According to 44 respondents, it is stated that they receive loyalty points as an offer from their payment system company, which is 31.21%; 51 respondents have stated that they receive gift vouchers as an offer, which is 36.17%; 26 respondents have said that they receive credit for future offer, which is 18.44%; 1 respondent has mentioned about waive any associated charges offer, which is 0.71%; and 19 respondents have said that they do not receive any offer, which is 13.48% (Table 8).

Interpretation