A Study on Finding the Factors, Hindering the use of digital wallets among youth in Developing Countries

A.T. Nimansa, N. Kuruwitaarachchi


A digital wallet or eWallet is a mobile based software application that securely persists consumer’s payment information and passwords for numerous payment methods. By using an eWallet, users can complete their transactions easily and quickly with technologies such as Quick Response (QR) and near-field communications (NFC). In the modern world, people use digital wallets to engage in financial and non-financial activities using the internet. It stores physical financial instruments digitally and provides high availability to convenience to the user. Typically, to facilitate high security to those financial assets, in the digital wallet of the user, and to maintain reliability and availability, mobile application developing organizations follow different authorization mechanisms. The problem prevailing in a developing country similar to Sri Lanka is the less use of digital wallets in day to day transactions.  The final outcome of the research will be to find the factors which affect the use of digital wallets in Sri Lankan students who study in western province universities. The advantage of finding the mentioned factors is to help eWallet developers to enhance their products to attract and onboard more customers. The eWallet developers can think about these measures when developing a solution and use it to promote the application. Further, when developers create an optimal solution, the consumer of eWallets will be highly benefited with an efficient financial application.


eWallet, digital wallet, UTAUT-3, Unified theory of acceptance and use of technology – 3, user adoption, behavioral intention

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