Innovations and Challenges of Financial Technology: A Study on Digital Wallets and Mobile Payments in India

DOI

10.2991/978-94-6239-772-9_4How to use a DOI?

Keywords

Financial Technology; Digital Wallets; Mobile Payments

Abstract

With the advent of mobile phone services, penetrated even in remote villages, followed by demonetization, people have moved to digital transfers, making a gateway to digital and mobile payments, which is a revolution in the country like India. The usage of the secondary data and analyzing the banker’s potentiality in the transactions using digital wallets and mobile payments was not focused much by the earlier researchers. We found a gap in research in understanding the behavior of the financial transactions using digital wallets and mobile payments in India. Even though, the Government of India is trying to be vigilant on the digital payments, but, a few Local Governments are not positive on these payments due to the GST problems. The objective of the research study is focused on difficulties in the introduction and usage of financial technology through digital wallets and mobile payments in India. The methodology adopted in this research study was basically descriptive research using secondary data on digital wallet payments and mobile payment transactions in terms of both volume and value of transactions done in five years. Through this research study, the authors were able to understand the transactional size of the payments happening through digital wallets and mobile payments in terms of both volume and value and also able to understand the issues and challenges that the bankers may be facing in several aspects.

Copyright

© 2026 The Author(s)

Open Access

Open Access This chapter is licensed under the terms of the Creative Commons Attribution-NonCommercial 4.0 International License (http://creativecommons.org/licenses/by-nc/4.0/), which permits any noncommercial use, sharing, adaptation, distribution and reproduction in any medium or format, as long as you give appropriate credit to the original author(s) and the source, provide a link to the Creative Commons license and indicate if changes were made.

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TY  - CONF
AU  - K. S. Srinivasa Rao
AU  - Adil Sindagikar
PY  - 2026
DA  - 2026/09/07
TI  - Innovations and Challenges of Financial Technology: A Study on Digital Wallets and Mobile Payments in India
BT  - Proceedings of the 2nd International Conference on Innovations and Challenges in Financial Technology (ICICFT 2025)
PB  - Atlantis Press
SP  - 33
EP  - 45
SN  - 2352-5428
UR  - https://doi.org/10.2991/978-94-6239-772-9_4
DO  - 10.2991/978-94-6239-772-9_4
ID  - Rao2026
ER  -