Financial Disruption and Microentrepreneurs: Empirical Study on Adoption of E-Wallet Among Micro-Entrepreneurs in India

Abstract

The COVID-19 pandemic is expeditiously stirring the global economy. The impact of this pandemic has implications on the sustenance of industries worldwide. This study investigates the influence of various endogenous and exogenous factors affecting e-wallet adoption among micro entrepreneurs in India. A sample of 287 micro enterprises were identified in NCR (National Capital Region) region on the basis of random sampling. Structured questionnaires were administered to the respondents. Structural equation modelling was used to analyse the data with the help of Smart PLS 3. The main findings of the study show that self-belief, personal innovativeness, and satisfaction are the key indicators affecting the e-wallet adoption among the microentrepreneurs. Microentrepreneurs contribute greatly to economic development in developed and developing nations. Digitalisation of this segment of industry can turn India into a cashless country, thereby reducing the cash burden of the economy. Microentrepreneurs can also act as a catalyst for financial inclusion.