Wallet App Credibility Analysis Based on App Content and User
Usage
of online banking and mobile banking has already facilitated and added a
dramatic change in customer’s life and now mobile wallets have made it easier
by holding money digitally. According to reports, market leader PayTM in this
space is downloaded by 40% of smart phone users in India and it has grown from
150-180 million-user base in two months [1]. According to Reserve Bank of India
(RBI), a massive growth lies in the digital wallet adoption and usage as prime
mode of payment [2]. RBI stated following points related to mobile wallet. In
year 2015-2016, mobile wallet transactions were more than 490 billion, which
was approximately five times more than the year 2014-15. A year-wise wallet app
growth chart published by Reserve bank of India is shown in Figure 1 (a).
Transactions through mobile wallets have grown 500% in between year 2014-16
(see Figure 1(b)). Digital wallet facilitates customers to digitally pay for a
myriad of services but substantial utilization depends on reliability and
acceptance of wallet app by its users. Most important factors to validate and
analyze reliability and market acceptance of a wallet app are reviews and
ratings as user-generated content. Surely, more reviews and ratings on an app
give better probability to be explored and discovered to get knowledge out of
it.
No comments:
Post a Comment