Gender and Choosing Sector for Digital Wallet: Is there ...
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Amity Journal of Commerce and Financial Review Laxmi Rani
Gender and Choosing Sector for Digital Wallet:
Is there any Association with Education?
Laxmi Rani1
Abstract
Digital wallet is a modern payment system-based software system by using any
electronic device with internet that permit people to perform electronic transactions.
These transactions can be purchasing items on-line with the help of computer, laptop
or mobile etc. and making payment for the purchase. This research has been
conducted to check whether there is any association between gender and sector for
digital wallet with layer of education. Primary data is used by collecting responses
from 208 users. The results showed that association between gender and choosing
sector for digital wallets was found. Cramer’s V shows strength of association
between gender and choosing the sector which shows the association is week. Further
research can be done on other factors than gender and education.
Keywords: digital wallets, education
1. Introduction
Now-a-days e- banking and mobile banking uses are increasing day by day but
a new concept of digital wallet has changed the scenario in digital India.
Digital wallet is a modern payment system based software system by using
any electronic device with internet that permit people to perform electronic
transactions. These transactions can be purchasing items on-line with the help
of computer, laptop or mobile etc. and making payment for the purchase. A
customer bank account can also be linked to the digital wallet with full safety.
They might also have their driver’s license, health care, loyalty card(s) and
other ID documents stored on the phone. So digital wallets are being used not
only for basic financial transactions but also to authenticate and verify the
holder's credentials. For example, digital wallet can be used to verify the age
of the purchaser to the store while purchasing malt. Digital wallets have
1 Research Scholar, APJ Abdul Kalam University, Madhya Pradesh
Amity Journal of Commerce and Financial Review Laxmi Rani
become very popular in Japan. Digital wallets are also called "wallet mobiles".
Digital wallet includes both a software and information component. The
software component is responsible for security and encryption of the user’s
personal information and for the actual transaction taking place. Usually,
digital wallets are stored on the client side and can be managed easily by
client. Digital wallets are also compatible with most e-commerce Web sites. A
server-side digital wallet is also known as a thin wallet. Thin wallet is one that
an organization creates for and about you and maintains on its servers. Digital
wallets are becoming very popular among most of the retailers now due to its
security, efficiency, and added utility features. Digital wallets increase the
customer satisfaction of their online purchase experience.
Various digital wallets like Paytm, Mobikwik etc. are available in the market.
These available wallets in the market have changed the payment habits of
people. People prefer payment through digital wallet because these are easy
and convenient to use while making payment. Besides this, digital wallets have
more features in comparison to traditional wallets. To use digital wallets, we
need an electronic device like a computer or smart phone and internet
connection. So digital wallets don’t require so many resources because smart
phone and internet is the necessity now a day and most of the people have
internet and smart phone. So by using digital wallets, payer can pay online to
the payee, payer doesn’t need to go to bank for making payments and payee
doesn’t need to go to the bank for receiving the payment. But this changing
pattern of making and receiving payment has some issues. Some people treat
digital wallets as risky and they think that there can be mismanagement of
fund, fraud may happen, network problem may slow the process or duplication
of transactions may occur. So this system is not risk proof; there may be
technical, infrastructural and service issues. So solutions to different issues
must be considered by the digital wallet companies. Each working and non-
working person have equal opportunity to use digital wallets but if they find
that these are not safe, they will not use digital wallets. Security issues, less
knowledge of computer or other electronic devices, less knowledge about
digital wallets and unavailability of internet in many places are still a major
limitation for major users of digital wallets in India.
Amity Journal of Commerce and Financial Review Laxmi Rani
The paper is organized into four different sections. Section 2 includes detailed
review literature followed by research methodology in section 3. Section 4 and
5 discuss about result and finding and conclusion.
2. Literature Review
Prasad Yadav and Arora (2019) concluded that there is a positive association
between customer satisfaction and solutions in digital wallets and negative
association between customer satisfaction and problems in using digital
wallets.
Arora et al (2019) try to find out the relationship between occupation of people
and instinct in use of digital wallets on customer satisfaction and various
factors that are responsible for various types of risks in use of digital payments
and to recommend measures for minimizing these risks. Findings show a
significant variance in overall satisfaction of digital wallets and various
occupations.
Singh and Arora (2014) conducted a study to know the association between
demographic variables and use of mobile banking in selected public, private
and foreign banks. Significant mean differences were found in solutions in
mobile banking and marital status of respondents. No association was found
between education levels and problems in mobile banking. It is also suggested
that various security measures associated with mobile banking like SMS, PIN,
privacy policies etc. should be communicated to the users to enhance the use
of mobile banking because people are not very much aware about these
security measures. It is also suggested that customers should choose difficult
or secured password that cannot be break.
Education is one of the most crucial activities for any nation (Arora M (2012).
Human Resources are an indispensable but often neglected S Singh, S
Chaudhary, Arora M (2014). Staff in education has found challenge. Private
institutes are in societies but in real Sole proprietorship which means when
there is single ownership in business. S Singh, S Chaudhary, M Arora (2014).
Arora, M. (2019) conducted a study based on multiple comparisons on average
agreement on different variables like customer satisfaction, infrastructure risk,
service quality risk, security risk, boost up of technological risk solutions,
boost up of financial risk solutions and boost up of service quality risk
solutions. The results show that graduates has greater agreement on
Amity Journal of Commerce and Financial Review Laxmi Rani
infrastructure risk Ph.D. respondents, post-graduates has greater agreement on
infrastructure risk than Ph.D. respondents, undergraduates have lower
agreement on boost up of technological risk solutions than graduate
respondents, undergraduate respondents have lower agreement on boost up of
technological risk solutions than post-graduates, graduates have higher
agreement on boost up of technological risk solutions than Ph. D. ,
undergraduates have higher agreement on boost up of technological risk
solutions than graduates.
Arora, M. and Lochab, A. (2018) conducted a study to know the impact of
education on the customer satisfaction while using mobile banking and various
factors responsible for risks associated with mobile banking in the selected
banks and to recommend various suggestions for improving risk solutions.
Research findings conclude there is a significant difference in different level
of education and customer satisfaction associated with mobile banking. It is
also concluded that graduate respondents have greater agreement on
infrastructure risk than post graduate. So mobile banking should be the part of
syllabus of the graduation.
Arora, M., Lochab, A. and Khurana, P. (2019) research findings conclude that
respondents of public sector banks find implementation of security measures
as security risk solution at most than those of private sector banks and foreign
banks. Present research is being conducted to check whether there is any
association between gender and sector for digital wallet with layer of
education
3. Objectives
Objective of this paper is to check the association between gender and
education sector with respect to digital wallet.
4. Research Methodology
Study is exploratory. Primary data is used for data collection from users of
digital wallets. Questionnaire based on five point Likert scale is used.
Secondary data is based on earlier published literature review.
Amity Journal of Commerce and Financial Review Laxmi Rani
Non-parametric Chi-square test is used whether there is relationship between
Gender ad choosing sector for digital wallet. Two categorical variables are
male and female categories in Gender. Private sector wallet users and public
sector wallet users in Sector.
5. Data Analysis
Following contingency table is used to assess whether an association exists between
gender and choice of sector by comparing the observed frequency of responses in the
cells to the expected frequency. Both variables are truly independent to each other.
Table 1: Association between Education and Bank Choice
Education Bank Type Observed / Expected Gender
Male Female Total
Under - Graduate
Public
Observed 17 28 45
Expected 21.38 23.63 45
% within row 37.8 % 62.2 % 100.0 %
% within column 44.7 % 66.7 % 56.3 %
% of total 21.3 % 35.0 % 56.3 %
Private
Observed 17 9 26
Expected 12.35 13.65 26
% within row 65.4 % 34.6 % 100.0 %
% within column 44.7 % 21.4 % 32.5 %
% of total 21.3 % 11.3 % 32.5 %
Foreign
Observed 4 5 9
Expected 4.28 4.72 9
% within row 44.4 % 55.6 % 100.0 %
% within column 10.5 % 11.9 % 11.3 %
% of total 5.0 % 6.3 % 11.3 %
Total
Observed 38 42 80
Expected 38 42 80
% within row 47.5 % 52.5 % 100.0 %
% within column 100.0 % 100.0 % 100.0 %
% of total 47.5 % 52.5 % 100.0 %
Observed 16 18 34
Amity Journal of Commerce and Financial Review Laxmi Rani
Education Bank Type Observed / Expected Gender
Male Female Total
Graduate
Public Expected 18.55 15.45 34
% within row 47.1 % 52.9 % 100.0 %
% within column 53.3 % 72.0 % 61.8 %
% of total 29.1 % 32.7 % 61.8 %
Private
Observed 8 4 12
Expected 6.55 5.45 12
% within row 66.7 % 33.3 % 100.0 %
% within column 26.7 % 16.0 % 21.8 %
% of total 14.5 % 7.3 % 21.8 %
Foreign
Observed 6 3 9
Expected 4.91 4.09 9
% within row 66.7 % 33.3 % 100.0 %
% within column 20.0 % 12.0 % 16.4 %
% of total 10.9 % 5.5 % 16.4 %
Total Observed 30 25 55
Expected 30 25 55
% within row 54.5 % 45.5 % 100.0 %
% within column 100.0 % 100.0 % 100.0 %
% of total 54.5 % 45.5 % 100.0 %
Post-Graduate
Public
Observed 12 11 23
Expected 12.71 10.29 23
% within row 52.2 % 47.8 % 100.0 %
% within column 57.1 % 64.7 % 60.5 %
% of total 31.6 % 28.9 % 60.5 %
Private
Observed 5 3 8
Expected 4.42 3.58 8
% within row 62.5 % 37.5 % 100.0 %
% within column 23.8 % 17.6 % 21.1 %
% of total 13.2 % 7.9 % 21.1 %
Foreign Observed 4 3 7
Expected 3.87 3.13 7
% within row 57.1 % 42.9 % 100.0 %
Amity Journal of Commerce and Financial Review Laxmi Rani
Education Bank Type Observed / Expected Gender
Male Female Total
% within column 19.0 % 17.6 % 18.4 %
% of total 10.5 % 7.9 % 18.4 %
Total
Observed 21 17 38
Expected 21 17 38
% within row 55.3 % 44.7 % 100.0 %
% within column 100.0 % 100.0 % 100.0 %
% of total 55.3 % 44.7 % 100.0 %
Ph.D.
Public
Observed 4 12 16
Expected 7.31 8.69 16
% within row 25.0 % 75.0 % 100.0 %
% within column 25.0 % 63.2 % 45.7 %
% of total 11.4 % 34.3 % 45.7 %
Private
Observed 7 4 11
Expected 5.03 5.97 11
% within row 63.6 % 36.4 % 100.0 %
% within column 43.8 % 21.1 % 31.4 %
% of total 20.0 % 11.4 % 31.4 %
Foreign
Observed 5 3 8
Expected 3.66 4.34 8
% within row 62.5 % 37.5 % 100.0 %
% within column 31.3 % 15.8 % 22.9 %
% of total 14.3 % 8.6 % 22.9 %
Total
Observed 16 19 35
Expected 16 19 35
% within row 45.7 % 54.3 % 100.0 %
% within column 100.0 % 100.0 % 100.0 %
% of total 45.7 % 54.3 % 100.0 %
Public
Observed 49 69 118
Expected 59.57 58.43 118
% within row 41.5 % 58.5 % 100.0 %
% within column 46.7 % 67.0 % 56.7 %
% of total 23.6 % 33.2 % 56.7 %
Amity Journal of Commerce and Financial Review Laxmi Rani
Education Bank Type Observed / Expected Gender
Male Female Total
Total
Private
Observed 37 20 57
Expected 28.77 28.23 57
% within row 64.9 % 35.1 % 100.0 %
% within column 35.2 % 19.4 % 27.4 %
% of total 17.8 % 9.6 % 27.4 %
Foreign
Observed 19 14 33
Expected 16.66 16.34 33
% within row 57.6 % 42.4 % 100.0 %
% within column 18.1 % 13.6 % 15.9 %
% of total 9.1 % 6.7 % 15.9 %
Total
Observed 105 103 208
Expected 105 103 208
% within row 50.5 % 49.5 % 100.0 %
% within column 100.0 % 100.0 % 100.0 %
% of total 50.5 % 49.5 % 100.0 %
Source: Author’s Observation
Table 1 shows that out of 208 respondents 105 are male and 103 are female. Expected
and observed frequency is same for both categories of gender in total. Looking at
responses from foreign banks (n=33), male users are observed vs expected 19 (16.66
percent) and % within row is 57.6 percent and % within column is and female 14
(16.34) have percentage within row 42.4 percent and % within column is 13.6 %.
Looking at responses from private banks (n=57), male users are observed vs expected
37(28.77 percent) and % within row is 64.9 percent and % within column is 35.2 %
and female 20 (28.23) have percentage within row 35.1 percent and % within column
is 19.4 %. Looking at responses from public banks (n=118), male users are observed
vs expected 49(59.57 percent) and % within row is 41.5 percent and % within column
is 46.7 % and female 69(58.43) have percentage within row 58.5 percent and %
within column is 67 %. For Undergraduate respondents, using public sector for
mobile banking (N=45), observed and expected frequency is17(21.28%) for male
having and % within row is 37.8 percent and % within column is 44.7 % and female
28(23.63) have percentage within row 62.2 percent and % within column is 66.7 %
Undergraduate respondents, using private sector for mobile banking (N=26), observed
and expected frequency is17(12.35%) for male having and % within row is 65.4
Amity Journal of Commerce and Financial Review Laxmi Rani
percent and % within column is 44.7 % and female 9(13.65) have percentage within
row 34.6 percent and % within column is 21.4 %. These crosstabs are further
explained in Table 2 as χ² Tests
Table 2: χ² Tests for Gender and Choosing Bank type with Stage of Education
Education Value Df p- value
Under
Graduate χ² 5.074
2 0.079
χ²
continuity
correction
5.074
2
0.079
Likelihood
ratio 5.13
2 0.077
Fisher's
exact test NaN ᵃ
N 80
Graduate χ² 2.013 2 0.365
χ²
continuity
correction
2.013
2
0.365
Likelihood
ratio 2.041
2 0.36
Fisher's
exact test NaN ᵃ
N 55
Post
Graduate χ² 0.268
2 0.874
χ²
continuity
correction
0.268
2
0.874
Likelihood
ratio 0.27
2 0.874
Fisher's
exact test NaN ᵃ
N 38
Ph. D. χ² 5.098 2 0.078
Amity Journal of Commerce and Financial Review Laxmi Rani
Education Value Df p- value
χ²
continuity
correction
5.098
2
0.078
Likelihood
ratio 5.263
2 0.072
Fisher's
exact test NaN ᵃ
N 35
Total χ² 9.199 2 0.01
χ²
continuity
correction
9.199
2
0.01
Likelihood
ratio 9.296
2 0.01
Fisher's
exact test NaN ᵃ
N 208
ᵃ Available for 2x2 tables only
Source: Author’s Calculation
As per table 2 χ² value for undergraduates is 5.074 at degree of freedom 2, p value
(0.07) is significant at 10 percent level but not at 5 percent. Results can be considered
reliable as χ² continuity correction is also same. Also, χ² value for graduates is 2.013
at degree of freedom 2, p value (0.365) is not significant at 10 percent level as well as
not at 5 percent. Results can be considered reliable as χ² continuity correction is also
same. χ² value for postgraduates is .268 at degree of freedom 2, p-value (.874) is
neither significant at 10 percent level nor at 5 percent. Results can be considered
reliable as χ² continuity correction is also same. But χ² value for Ph.D. is 5.098 at
degree of freedom 2, p value (0.078) is significant at 10 percent level but not at 5
percent. Results can be considered reliable as χ² continuity correction is also same.
Amity Journal of Commerce and Financial Review Laxmi Rani
Table 3: Nominal Cramer's V
Education
Value
Under-
Graduate Phi-coefficient NaN
Cramer's V 0.2518
Graduate Phi-coefficient NaN
Cramer's V 0.1913
Post -
Graduate Phi-coefficient NaN
Cramer's V 0.084
Ph.D. Phi-coefficient NaN
Cramer's V 0.3817
Total Phi-coefficient NaN
Cramer's V 0.2103
Nominal Cramer's V shows the strength of association of Gender and choosing sector
for digital wallet: is any Association with layer of education, for undergraduates it is
0.2518, association exists but is week, for graduates it is 0.1913 but for post graduates
it is only 0.0840 and for Ph.D. it is 0.3817. Overall, for Ph.D. it is highest and for
postgraduates, it is lowest.
6.0 Findings and Conclusion
The table shows that out of 208 respondents 105 are male and 103 are female. So,
number of male and female observations is almost equal. Expected and observed
frequency is same for both categories of gender in total. χ² value for undergraduates is
significant at 10 percent level but not at 5 percent. Results can be considered reliable
as χ² continuity correction is also same. χ² value for graduates is not significant at 10
percent level as well as not at 5 percent. Results can be considered reliable as χ²
continuity correction is also same. χ² value for postgraduates is neither significant at
Amity Journal of Commerce and Financial Review Laxmi Rani
10 percent level nor at 5 percent. Results can be considered reliable as χ² continuity
correction is also same. But χ² value for Ph.D. is significant at 10 percent level but not
at 5 percent. Results can be considered reliable as χ² continuity correction is also
same. Nominal Cramer's V shows the strength of association of Gender and choosing
sector for digital wallet: is any Association with layer of education, for
undergraduates it is 0.2518, association exists but is week for graduates it is 0.1913
but for post graduates it is only 0.0840 and for Ph.D. it is 0.3817. Overall, for Ph.D. it
is highest and for postgraduates, it is lowest.
Mobile banking has become necessity of common man, especially due to covid-19
situation. Present research is being conducted to check whether there is any
association between gender and sector for digital wallet with layer of education. 5
point Likert scale questionnaire based data is used by collecting responses. Chi-square
results showed that association between Gender and choosing sector for digital
wallets was found. Cramer’s V shows strength of association between Gender and
choosing the sector which shows the association is week. Further research can be
done on other factors than gender and education. Limitation of the study is there may
be some other factors which may be significant.
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Amity Journal of Commerce and Financial Review Laxmi Rani
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