DIGITAL ECONOMY: E-WLLET PROS AND CONS

Chandramouli shivaratri

Abstract


Demonetization is the hottest new topic in the country. Financial analysts everywhere are talking about what the long-term impacts could be while several businesses and people are caught up in the unprecedented cash crunch that has been caused. With the retail businesses taking an all-new dimension thanks to the growth of the internet, the business models and the payment methods have all changed. E-wallet is an online prepaid account where one can stock money, to be used when required. As it is a pre-loaded facility, consumers can buy a range of products from airline tickets to the grocery without swiping a debit or credit card. “Wallet“ in the conventional sense of the term, refers to a purse or folding case for safely holding money or personal information such as identity card. Digital or Electronic Wallet (e-wallet) refers to an electronic, Internet-based payment system which stores the financial value as well as personal identity-related information. This study assesses what is e-wallet? Types of e-wallet apps available in India with their benefits and limitations to the consumers.

Keywords: Digital economy, Demonetization, E-Wallet, Consumers.


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ISSN : 2251-1563