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Asian Journal of Management
Year : 2020, Volume : 11, Issue : 1
First page : ( 61) Last page : ( 72)
Print ISSN : 0976-495X. Online ISSN : 2321-5763.
Article DOI : 10.5958/2321-5763.2020.00011.6

A theoretical study on influence of technology in digitizing economy with special emphasis on study on digital wallets and digital payments in present context

Dr. Sambrani Vinod N1,*, Jayadatta S2

1Professor and Research Guide, Kousali Institute of Management Studies, Karnatak University, Dharwad

2Assistant Professor, Research Scholar, KLE IMSR, Kousali Institute of Management Studies, Karnatak University, Dharwad, jayadattaster@gmail.com

*Corresponding Author E-mail: vinodsambrani@gmail.com

Online published on 27 April, 2020.


Today in this digitalized world of technological empowerment full of opportunities the growth of mobile commerce, or the purchase of goods or services using mobile technology heavily depends on the acceptance, availability and reliability of the mobile wallet systems. A mobile digital wallet which is enabled for mobile phones is a complete payment app which enables the consumers to pay at stores at the point of sale with a mobile phone. All the integrated payment related services like the management and storage of receipts, coupons and offers and loyalty cards are done by digital wallet which is associated with a credit card. An Individual's bank account can also be linked to the digital wallet. Some of the ID documents like health card, loyalty card and driving license can also be stored on the phone. The credentials can be passed to a merchant's terminal wirelessly via near field communication (NFC). Today all over the world mobile payment is adopted in different ways. Nowadays we all find ourselves carrying hard cash less because we can easily make our purchase with payment cards and also track our spending online, moreover it is safer and secure than carrying $350 to buy the latest I pad Mini. Some of the major private funding organizations such as the Bill and Melinda Gates Foundation, United States Agency for International development and Mercy Corps are using mobile payments. As a means of extending financial services to the community known as the “unbanked” or “under banked” in most of the developing countries including India mobile payment solutions have been deployed. In light of the technology advances and innovations in digital wallets and mobile payments the paper tries to highlight various types of mobile payment systems, opportunities and challenges, future growth and prospects of mobile payments and digital wallets.



Mobile, Digital wallets, near field communication, Payment, technology, empowerment, credit card.


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