Digital transformation has significantly influenced the banking and financial services sector by introducing various digital payment platforms. The increasing use of smartphones and internet connectivity has encouraged the adoption of digital payment applications such as mobile wallets and banking apps for financial transactions. Among young consumers, particularly college students, digital payment technologies have become a significant part of their everyday financial activities. The present study examines students’ preferences towards mobile wallet applications and banking applications as part of the ongoing digital transformation in the banking sector. The research is based on primary data collected from college students in Pune through a structured questionnaire. The findings of the study indicate that a large number of students use digital payment applications and many show a greater preference for mobile wallet platforms due to factors such as convenience, ease of use, and faster transactions. The study highlights the growing role of digital payment technologies among students and reflects the impact of digital transformation in the banking sector.
Ms. Harshalee Rajesh Taru (Tue,) studied this question.