Digital Wallet Apps and their Impact on Financial Inclusion in Tamilnadu

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Year	2025
Volume/Issue/Review Month	Volume-XVIII \| Issue-I \| Jan.-Jun.
Title	Digital Wallet Apps and their Impact on Financial Inclusion in Tamilnadu
Authors	Hemamalini.E , Dr.G.Nedumaran
Broad area	Finance
Abstract	Abstract: This study examines the effect of digital wallet applications on financial inclusion in Tamil Nadu based on socioeconomic characteristics, awareness, ease of usage, trust, and challenges in adopting digital wallets. The study employed 265 respondent's data and Structural Equation Modeling. Socioeconomic factors such as age, education, and income greatly influence digital wallet adoption. Ease of use is the most important driver, and awareness and ease of use are identified as crucial variables. Maintaining user confidence is crucial, as trust and security have a beneficial impact on the use of digital wallets. The study also demonstrates that the use of digital wallets improves access to financial services including credit, savings, and payments, which promotes financial inclusion. However, barriers such as low digital literacy, network disruptions, and perceived fraud deter uptake, thus pointing to the need for targeted interventions. A good foundation for understanding the interplay among the variables is provided by the model fit indices, which validate the SEM framework as sound. The results point out that the removal of obstacles and building of trust require digital literacy initiatives, user-friendly app designs, better infrastructure, and strong regulatory frameworks. Policymakers and fintech stakeholders must work together to promote digital financial instruments as a way to reduce financial exclusion, especially among marginalized communities.
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