Getting Your Research Project Started
STEP 1:
The data set that I would like to work with would be AddHealth Wave 1 Codebook. The data in adolescents health code books suits the study I have taken up.
Because I want to study the usage patrons of payment wallets among the young adults ranging from age 13 to 21 The reason I chose this specific age range is, that the children among Indian families are protected and cared as a young child even when the individual has started pursuing his or her career after completing their studies.
STEP 2.
A specific topic of interest.
“Study on the usage of payment wallet behaviour among young adults in Vijaya College, Basavanagudi, Bengaluru, India.”
STEP 3.
Codebook consisting details of young adults are explained further.
Questions
1. Which payment wallet do you use?
2. How frequently do you use for payment?
3. Do you use the wallet to receive money as well?
items/variables
The items or the variables which influence the need of young adults to choose a payment wallet are:
User-friendliness
Part-time job
Income of a parent
Pocket money
Monthly expenses
These young adults which were selected to study the usage behaviour belong to 19-20-21 years and are pursuing graduation in bachelors of commerce. Though teenagers are given access to smart phones and permission to use wallet payments, the study is taken to an accurate observation focusing one part of age only. Most of them come from middle income group and have minimal exposure to the phone, let alone smart phone. Few have been given with the phones with an idea that they are into business or part time job. Sometimes, the respondents buy smart phone for themselves too.
STEP 4.
Second topic
Another concept I would like bring to the light is fintech. It is technology that allows 2 individual to exchange money for various purpose without having a bank account normally. (Lestari et al., 2020). This innovation has reduced the burden of cash carrying problem and securities issues as well.
Fintech innovations like peer to peer payments or loans, Blockchain, Artificial Intelligence or Ethereum have made our current covid situation easy too. There is no need for anyone to go to bank or atm to draw money, one can get what they was at the click of the button. The wallets are attached to a bank account if the individual has a personal account of in case of our respondents, their parents to refill the payment wallet (F. Desai, 2015) balance for them.
STEP 5.
Questions/items/variables
Questions relating to fintech would be:
1. Are you aware of fintech?
2. How did you come to know about it
3. How long are you using it?
4. How far would you depend on it?
5. Would recommend your friends to use the payment wallet?
The items/variables which would determine the young adults to stick to the same payment wallet would be
Brand
Less commission charged on every money transferred to another person
Less commission charged on every money transferred to his/her bank
Authentic ID verifications
Credits points
Offers and Discounts
Scratch cards
One place payment for various monthly expenses or donations
STEP 6.
Literature review
Fintech is short for financial technology. This has taken a rise since demonetization 2016 November 9 (Chaudhary & Shirley, 2019). Zerodha, Razorpay, Capital float, Acko, Cred, Lendingkart, Pine labs, Policy bazaar, Phone Pe, Paytm and even more have adopted the financial crisis in India to make it an opportunity to build a strong virtual financial markets. (Friesen, 2020)
In 2020, any electronic method that helps an individual to carry on his financial transaction without having to go to bank or store cash in his wallet is known as financial technology (fintech). Here e-payment business is vast entrepreneurship that is exercised by any abled company. For instance, a search engine helps us pay for charity, swiggy and friends, online shopping websites tell us where to diversify our corpus fund and a common user friendly chat app transfer money just like an E-Wallet. (R. Desai & Desai, 2020)
Following which there is increased number of cybercrimes and great demand for data protection.(Kaur, 2020). Here comes the need for sandbox to help companies to hold on to customers commitments or loyalty and maintain the integrity as well as public image. As sandbox is still permitted to be used at organizational level alone, companies are bound by statutory obligation to be just in their business.
STEP 7
Hypothesis
Hº: the usage behaviour doesn’t influence the dependency on payment wallet by a young adult
H¹: the usage behaviour influence the dependency on payment wallet by a young adult
Reference:
Chaudhary, S. A., & Shirley, M. A. J. (2019). Impact of Demonetization in India on MSME. International Journal of Trend in Scientific Research and Development, Volume-3(Issue-3), 1088–1090. https://doi.org/10.31142/ijtsrd23049
Desai, F. (2015). The Evolution of Fintech – DigiFinMasters. Forbes. https://www.forbes.com/sites/falgunidesai/2015/12/13/the-evolution-of-fintech/#4d52157d7175
Desai, R., & Desai, J. (2020). FINTECH AND MODERN FINANCIAL SYSTEM : INDIAN. UGC Care, 40(08), 326–331.
Friesen, C. (Backstage with millionairs). (2020). India’s Top 10 Fintech Startups.
Kaur, S. J. (H R. C. (2020). Reviewing existential threats involved in Fintech Studies in Indian Place Names. UGC Care, 40(36), 58–62.
Lestari, D., Darma, D. C., & Muliadi, M. (2020). FinTech and Micro , Small and Medium Enterprises Development : Special Reference to Indonesia. Entrepreneurship Review, 1(1), 1–9. https://www.researchgate.net/profile/Dio_Caisar_Darma/publication/341384240_FinTech_and_Micro_Small_and_Medium_Enterprises_Development_Special_Reference_to_Indonesia/links/5ebd7b34a6fdcc90d67540b6/FinTech-and-Micro-Small-and-Medium-Enterprises-Development