Wednesday, April 24, 2013

Prospects of Mobile Wallet in India

Prospects of Mobile Wallet in India

A study on degree of awareness about Mobile Wallet, its potential market in India, barriers and drivers to its success.

The term “mobile phone” is becoming increasingly misleading since the capability for voice calls is, for many users, no longer the primary feature of the device. Today, the mobile phone is not just a communication platform with email, instant messaging, video calls, and a social media interface, but it also offers functional applications like navigation, camera, calendar, address book, and a gaming device to name a few. The smart phone has become the most successful “functionality aggregator” after a Personal Computer. These days the only two things that most people carry in their pockets, besides their mobile phone, are keys and wallet.

Today’s innovation is towards allowing people not to carry their physical wallet either! With Mobile Payment as a concept, innovations are happening for last few years to develop a Mobile Wallet!  A few mobile wallets have already reached our market, few are to come.

We, the students of Symbiosis International University, have done a research (Market Research) on awareness, growth, penetration and acceptance of Mobile Payment concept. 

We had read lot many research articles and white papers from various authors and research agencies. We had also taken survey of Indian consumers specifically targeting College Students, Academicians, IT Professionals, Middle and Senior level managers and housewives. 

Finally, results are out, research article is prepared and here it is for your quick view and feedback!

Please check out below links on the research article prepared based on valuable inputs of very valuable respondents! Here it is.. 

Prospects of Mobile Wallet in India - Presentation.ppsm
Prospects of Mobile Wallet in India - Report.pdf

Neha Patnayak
Rajabala Gnansamy
Neha Chauhan
Akhil Mohammad

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