Volume : 11, Issue : 3, MAR 2025

CAPITALIZING ON BUSINESS DEVELOPMENT AND CHALLENGES IN THE DIGITAL ERA RESEARCHED BY STUDENTS, PG DEPARTMENT OF COMMERCE WITH COMPUTER APPLICATIONS, MANNAR THIRUMALAI NAICKER COLLEGE MADURAI.

A STUDY ON CONSUMER PREFERENCES TOWARDS MOBILE WALLET GATEWAYS FOR CASHLESS PAYMENTS IN MADURAI CITY

A.MUTHUBALAJI, DR.M.DINESH KUMAR

Abstract

This study examines consumer preferences towards mobile wallet gateways for cashless payments in Madurai City, focusing on awareness, perception, and the influence of demographic factors. A descriptive research design was adopted, with primary data collected through structured surveys, in-depth interviews, and focus group discussions involving 100 respondents from diverse demographic backgrounds. Secondary data sources included industry reports and government publications. The Garrett Ranking Analysis revealed that ease of use, data privacy, and security of transactions were the top factors influencing consumer preferences. Brand reputation, offers/discounts, and cashback/rewards were also significant but ranked lower than security and usability aspects. Customer support and user interface design were found to be less critical in consumer decision-making. Regression analysis indicated that education, occupation, and income significantly impacted consumer preferences, while gender and age had no statistically significant influence. The high R-Square value (0.950) confirmed that demographic factors explained a substantial portion of consumer preferences for mobile wallets. The findings highlight the importance of security, privacy, and ease of use in driving mobile wallet adoption. Additionally, the results suggest that service providers should focus on improving transaction security, offering attractive incentives, and ensuring a seamless user experience to enhance consumer satisfaction and adoption rates.

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