Title: A novel approach of psychometric interaction and principal component for analysing factors affecting e-wallet usage

Authors: Gurpreet Singh Matharou; Simran Kaur

Addresses: Faculty of Engineering and Technology, Manav Rachna International Institute of Research and Studies, Faridabad, India ' Faculty of Commerce and Busines Studies, Manav Rachna International Institute of Research and Studies, Faridabad, India

Abstract: The Republic of India has witnessed an enormous leap in financial transactions after a sudden demonetisation in 2016. The study represents an in-depth analysis of the factors influencing e-wallets usage post-COVID situation covering the National Capital Region. The scientifically collected data were subjected to Pearson's correlation to recognise the correlation amongst the selected e-wallets. The usage of e-wallets is observed mainly during recharge, UPI payments, and utility payments. Through psychometric response and interaction analysis, six factors were selected and examined for data distribution and stable observation using standard deviation and variance coefficient. The coefficient of variance for six factors was observed ≤ 1. The weight of the factors noted to be secured way (0.184), to take advantage of cashback (0.182), low risk of theft (0.169), fast service (0.1689), ease to use (0.156), and saves time (0.139) using principal component eigenvectors analysis. Freecharge and Tez wallets reveal a maximum 99.2% correlation.

Keywords: wallets; correlation; payment; p-value; technology.

DOI: 10.1504/IJIDS.2024.140189

International Journal of Information and Decision Sciences, 2024 Vol.16 No.3, pp.249 - 263

Received: 06 Oct 2021
Accepted: 26 Nov 2021
Published online: 29 Jul 2024 *

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