Assessing Challenges to Mobile Wallet Usage in India: An Interpretive Structural Modeling Approach

Nripendra P. Rana; Sunil Luthra; H. R. Rao

doi:10.1007/978-3-030-64861-9_10

Assessing Challenges to Mobile Wallet Usage in India: An Interpretive Structural Modeling Approach

Nripendra P. Rana
, Sunil Luthra
, H. R. Rao

Management Science and Systems

University of Bradford
Ch. Ranbir Singh State Institute of Engineering and Technology

Research output: Chapter in Book/Report/Conference proceeding › Conference contribution › peer-review

1 Scopus citations

Abstract

India is paving its way towards a cashless society, from physical wallets to virtual (mobile) wallets. Mobile wallets are a fast growing payment method but in developing counties, like India, consumers are still using cash in their daily transactions. This paper identifies and evaluates key challenges to mobile wallet usage in India. Eleven possible challenges to mobile wallets are identified through extensive review and validated from experts’ inputs. Further, the Interpretive Structural Modeling (ISM) technique is utilized for constructing a structural framework of the identified challenges. Classification of these challenges has been done using MICMAC analysis. “Lack of adequate infrastructure (Ch4)”, “Poor Internet penetration (Ch5)”, “Highly fragmented economy (Ch9)” and “Lack of goal oriented and clearly defined mobile wallet strategy (Ch11)” have been found to be four key challenges that inhibit mobile wallet usage in India. This paper may help policymakers, regulatory bodies and banking managers in achieving effective mobile wallet usage in India.

Original language	English
Title of host publication	Re-imagining Diffusion and Adoption of Information Technology and Systems
Subtitle of host publication	A Continuing Conversation - IFIP WG 8.6 International Conference on Transfer and Diffusion of IT, TDIT 2020, Proceedings
Editors	Sujeet K. Sharma, Yogesh K. Dwivedi, Bhimaraya Metri, Nripendra P. Rana
Publisher	Springer Science and Business Media Deutschland GmbH
Pages	103-113
Number of pages	11
ISBN (Print)	9783030648602
DOIs	https://doi.org/10.1007/978-3-030-64861-9_10
State	Published - 2020
Event	IFIP WG 8.6 International Conference on Transfer and Diffusion of IT, TDIT 2020 - Tiruchirappalli, India Duration: Dec 18 2020 → Dec 19 2020

Publication series

Name	IFIP Advances in Information and Communication Technology
Volume	618
ISSN (Print)	1868-4238
ISSN (Electronic)	1868-422X

Conference

Conference	IFIP WG 8.6 International Conference on Transfer and Diffusion of IT, TDIT 2020
Country/Territory	India
City	Tiruchirappalli
Period	12/18/20 → 12/19/20

Keywords

Challenges
India
Interpretive structural modeling
MICMAC analysis
Mobile wallet usage

Access to Document

10.1007/978-3-030-64861-9_10

Cite this

Rana, N. P., Luthra, S., & Rao, H. R. (2020). Assessing Challenges to Mobile Wallet Usage in India: An Interpretive Structural Modeling Approach. In S. K. Sharma, Y. K. Dwivedi, B. Metri, & N. P. Rana (Eds.), Re-imagining Diffusion and Adoption of Information Technology and Systems: A Continuing Conversation - IFIP WG 8.6 International Conference on Transfer and Diffusion of IT, TDIT 2020, Proceedings (pp. 103-113). (IFIP Advances in Information and Communication Technology; Vol. 618). Springer Science and Business Media Deutschland GmbH. https://doi.org/10.1007/978-3-030-64861-9_10

Rana, Nripendra P. ; Luthra, Sunil ; Rao, H. R. / Assessing Challenges to Mobile Wallet Usage in India : An Interpretive Structural Modeling Approach. Re-imagining Diffusion and Adoption of Information Technology and Systems: A Continuing Conversation - IFIP WG 8.6 International Conference on Transfer and Diffusion of IT, TDIT 2020, Proceedings. editor / Sujeet K. Sharma ; Yogesh K. Dwivedi ; Bhimaraya Metri ; Nripendra P. Rana. Springer Science and Business Media Deutschland GmbH, 2020. pp. 103-113 (IFIP Advances in Information and Communication Technology).

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abstract = "India is paving its way towards a cashless society, from physical wallets to virtual (mobile) wallets. Mobile wallets are a fast growing payment method but in developing counties, like India, consumers are still using cash in their daily transactions. This paper identifies and evaluates key challenges to mobile wallet usage in India. Eleven possible challenges to mobile wallets are identified through extensive review and validated from experts{\textquoteright} inputs. Further, the Interpretive Structural Modeling (ISM) technique is utilized for constructing a structural framework of the identified challenges. Classification of these challenges has been done using MICMAC analysis. “Lack of adequate infrastructure (Ch4)”, “Poor Internet penetration (Ch5)”, “Highly fragmented economy (Ch9)” and “Lack of goal oriented and clearly defined mobile wallet strategy (Ch11)” have been found to be four key challenges that inhibit mobile wallet usage in India. This paper may help policymakers, regulatory bodies and banking managers in achieving effective mobile wallet usage in India.",

keywords = "Challenges, India, Interpretive structural modeling, MICMAC analysis, Mobile wallet usage",

author = "Rana, \{Nripendra P.\} and Sunil Luthra and Rao, \{H. R.\}",

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Rana, NP, Luthra, S & Rao, HR 2020, Assessing Challenges to Mobile Wallet Usage in India: An Interpretive Structural Modeling Approach. in SK Sharma, YK Dwivedi, B Metri & NP Rana (eds), Re-imagining Diffusion and Adoption of Information Technology and Systems: A Continuing Conversation - IFIP WG 8.6 International Conference on Transfer and Diffusion of IT, TDIT 2020, Proceedings. IFIP Advances in Information and Communication Technology, vol. 618, Springer Science and Business Media Deutschland GmbH, pp. 103-113, IFIP WG 8.6 International Conference on Transfer and Diffusion of IT, TDIT 2020, Tiruchirappalli, India, 12/18/20. https://doi.org/10.1007/978-3-030-64861-9_10

Assessing Challenges to Mobile Wallet Usage in India: An Interpretive Structural Modeling Approach. / Rana, Nripendra P.; Luthra, Sunil; Rao, H. R.
Re-imagining Diffusion and Adoption of Information Technology and Systems: A Continuing Conversation - IFIP WG 8.6 International Conference on Transfer and Diffusion of IT, TDIT 2020, Proceedings. ed. / Sujeet K. Sharma; Yogesh K. Dwivedi; Bhimaraya Metri; Nripendra P. Rana. Springer Science and Business Media Deutschland GmbH, 2020. p. 103-113 (IFIP Advances in Information and Communication Technology; Vol. 618).

Research output: Chapter in Book/Report/Conference proceeding › Conference contribution › peer-review

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T1 - Assessing Challenges to Mobile Wallet Usage in India

T2 - IFIP WG 8.6 International Conference on Transfer and Diffusion of IT, TDIT 2020

AU - Rana, Nripendra P.

AU - Luthra, Sunil

AU - Rao, H. R.

PY - 2020

Y1 - 2020

N2 - India is paving its way towards a cashless society, from physical wallets to virtual (mobile) wallets. Mobile wallets are a fast growing payment method but in developing counties, like India, consumers are still using cash in their daily transactions. This paper identifies and evaluates key challenges to mobile wallet usage in India. Eleven possible challenges to mobile wallets are identified through extensive review and validated from experts’ inputs. Further, the Interpretive Structural Modeling (ISM) technique is utilized for constructing a structural framework of the identified challenges. Classification of these challenges has been done using MICMAC analysis. “Lack of adequate infrastructure (Ch4)”, “Poor Internet penetration (Ch5)”, “Highly fragmented economy (Ch9)” and “Lack of goal oriented and clearly defined mobile wallet strategy (Ch11)” have been found to be four key challenges that inhibit mobile wallet usage in India. This paper may help policymakers, regulatory bodies and banking managers in achieving effective mobile wallet usage in India.

AB - India is paving its way towards a cashless society, from physical wallets to virtual (mobile) wallets. Mobile wallets are a fast growing payment method but in developing counties, like India, consumers are still using cash in their daily transactions. This paper identifies and evaluates key challenges to mobile wallet usage in India. Eleven possible challenges to mobile wallets are identified through extensive review and validated from experts’ inputs. Further, the Interpretive Structural Modeling (ISM) technique is utilized for constructing a structural framework of the identified challenges. Classification of these challenges has been done using MICMAC analysis. “Lack of adequate infrastructure (Ch4)”, “Poor Internet penetration (Ch5)”, “Highly fragmented economy (Ch9)” and “Lack of goal oriented and clearly defined mobile wallet strategy (Ch11)” have been found to be four key challenges that inhibit mobile wallet usage in India. This paper may help policymakers, regulatory bodies and banking managers in achieving effective mobile wallet usage in India.

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PB - Springer Science and Business Media Deutschland GmbH

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ER -

Rana NP, Luthra S, Rao HR. Assessing Challenges to Mobile Wallet Usage in India: An Interpretive Structural Modeling Approach. In Sharma SK, Dwivedi YK, Metri B, Rana NP, editors, Re-imagining Diffusion and Adoption of Information Technology and Systems: A Continuing Conversation - IFIP WG 8.6 International Conference on Transfer and Diffusion of IT, TDIT 2020, Proceedings. Springer Science and Business Media Deutschland GmbH. 2020. p. 103-113. (IFIP Advances in Information and Communication Technology). doi: 10.1007/978-3-030-64861-9_10

Assessing Challenges to Mobile Wallet Usage in India: An Interpretive Structural Modeling Approach

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