Digital wallets have become a pivotal component of modern payment behaviour, especially among young consumers in urban India. This study investigates the growth and trends in digital wallet adoption among students in Bangalore by analysing secondary data from industry reports, academic publications, government statistics, and market research. Findings reveal that digital wallet usage among students has grown significantly due to increased smartphone penetration, widespread availability of Internet connectivity, and the influence of peer networks. Convenience, rewards, and seamless integration with platforms such as the Unified Payments Interface (UPI) have also been key drivers in shaping adoption behaviour. The study highlights distinct usage patterns, including frequent peer-to-peer transfers, online purchases, and daily expenditure payments. Additionally, demographic characteristics such as gender, socioeconomic background, and technological proficiency further influence adoption trends. While digital wallets offer benefits such as reduced cash dependence and enhanced financial management for students, challenges in security awareness and over-reliance on credit features remain prevalent. The study concludes that digital wallet adoption among students in Bangalore reflects broader national payment trends and underscores the importance of financial literacy initiatives to foster secure and informed usage.
Kenisha Bavachan (Sun,) studied this question.