THE DETERMINANT FACTORS OF PSYCHOGRAPHICS AND THEIR IMPACT ON E-WALLET USERS

Abstract

The rapid ascent of e-wallets as a predominant mode of financial transactions has underscored the necessity of understanding the factors influencing their adoption and usage. This study delves into the psychographic determinants of e-wallet usage, exploring how personality traits such as extraversion, agreeableness, conscientiousness, honesty, and humility impact consumer behaviour towards digital payments. Employing structural equation modelling (SEM) on data collected from e-wallet users in Delhi and the National Capital Region (NCR), the research reveals significant relationships between these psychographic traits and e-wallet usage behaviour. Conscientiousness emerged as the most potent predictor of e-wallet adoption, followed by extraversion, agreeableness, honesty, and humility. The study's findings emphasise the relevance of psychographic characteristics in determining consumer involvement with digital financial services, providing useful insights for marketers and e-wallet companies looking to adjust their strategies to their target audience's complex preferences. Businesses that include psychographic profiling into their operational and promotional techniques can improve the user experience, create loyalty, and drive the adoption of e-wallets. This research contributes to the broader discourse on digital payment systems, suggesting a multidimensional approach to analysing consumer behaviour in the fintech domain.