Role of E-Wallets in Constructing a Virtual (Digital) Economy

Technological advancements and government initiatives have aided the development of mobile payment. Technical up gradation made mobile users enable to make transactions using their mobile devices in few clicks. With the use of the electronic payment, one can buy goods or avail services without physical currency. It has grown in popularity as a result of the growth of mobile payment. Following demonetisation, e-payment systems, mainly mobile wallets, have grown in popularity as a popular means of conducting transactions without physical presence. Thus, mobile applications and mobile wallets contribute to economic growth and cashless transactions in a positive way. The purpose of this paper is to review the literature on the impact of mobile wallets on cashless transactions and the current use of different types of mobile wallets