A

PROJECT REPORT
ON

" A STUDY ON IMPACT OF MOBILE PAYMENT WITH

SPECIAL REFERENCE TO YOUTH "

submitted to
School of Commerce and Management

Yashwantrao Chavan Maharashtra Open University Nashik.

In partial fulfillment of the requirement for the award of the degree
of

MASTER OF BUSINESS ADMINISTRATION

(MBA)

By
MR. NITIN GOVINDA MAHAJAN
PRN NO- 2021017000318457

Under the Guidance of

DR. V. H. RAKIBE

Through
STUDY CENTER
MGV’S L.V.H. COLLEGE PANCHAVATI, NASHIK-422009

STUDY CENTER CODE- 5406A

ACADEMIC YEAR (2023-2024)

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 CERTIFICATE OF ORGINALITY

This is to Certify that the Project Report On “A STUDY ON IMPACT OF

MOBILE PAYMENT WITH SPECIAL REFERENCE TO YOUTH.”.
Submitted School of Commerce and Management Yashwantrao Chavan Open
University, Nashik. In Partial Fulfillment of The Requirement for The Award of
Degree of Master In Business Administration (Marketing) Is Original Work
Carried Out By Mr. Nitin Govinda Mahajan Student Of Study Centre Of
MGV’s L.V.H College Panchavati, Nashik.
Under My Guidance Is Genuine Work Done by The Student and Has Not Been Submitted
Elsewhere to this University/Institute for The Fulfilment of The Requirement of Any
Study.

Date 01-04-2023
Place-Nashik

Mr. NITIN GOVINDA MAHAJAN Dr.V.H.RAKIBE

PRN No- 2021017000318457 Project Co-Coordinator
MBA II (Marketing) Y.C.M.O.U Study centre
MGV’s L.V.H. College LVH College (5406A)
Study centre – 5406A Panchavati, Nashik
Panchavati, Nashik

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 ACKNOLEDGEMENT

It is a great pleasure to me in acknowledging my deep sense of gratitude to all

Those who have helped me in completing this project successfully.

First of all, I would like to thank Y.C.M.O.U., for providing me an

opportunity to undertake a project a partial fulfilment of MBA degree. special thanks to
for Providing me an opportunity to work with - “A STUDY ON IMPACT OF MOBILE
PAYMENT WITH SPECIAL REFERENCE TO YOUTH.” their operations and
providing guidance in developing my project.

I greatly appreciate the staff of the surveyed business unit, who responded promptly and
enthusiastically to my request for frank comments despite their busy schedules.

I would like to express my sincere thanks to our Dr.V.H.Rakibe Sir who help me in some
any other way in making this project.

Place- Nashik Mr. Nitin Govinda Mahajan

Date- 01-04-2023 (M.B.A. Marketing)

3
 DECLARATION

I Mr. Nitin Govinda Mahajan Student Of MBA (Marketing) OF

L.V.H. COLLEGE PANCHAVAI NASHIK YCMOU (5406-A) Here by Declare That
The Project Entitled “A STUDY ON IMPACT OF MOBILE PAYMENT WITH
SPECIAL REFERENCE TO YOUTH.” Is Carried on A Partial Fulfilment of Post
Graduate CourseIn Management (MBA Marketing) Under YCOMU NASHIK.
This Project Is Undertaken as A Part of An Academic Curriculum
According To University Rules and Norms and The Same Has Not Been Submitted Either
To The University or Any Other Institute for Fulfilment of The Requirement Course Of
Study.

PLACE – NASHIK Mr. Nitin Govinda Mahajan

DATE - 01-04-2023 PRN.NO- 2021017000318457

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 INDEX
Sr. No. Particulars

A. Introduction

B. Importance & Significance of study

C. Objectives of the study

D. Hypotheses of the study

E. Research methodology
i Research Design
ii Data Analysis
iii Conclusion

F. Limitations of Study

G. Expected contribution

H. Chapterisation

I. Annexure

i. Bibliography

ii. Bio-Data of the Supervisor

1. INTRODUCTION
Mobile payment refers to the use of mobile devices, such as

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 smartphones and tablets, to transfer money or make payments for
goods and services. In recent years, mobile payment has become an
increasingly popular method of payment due to its convenience and
accessibility. With the rise of mobile payment technology, the financial
landscape has changed significantly, and this has had a profound
impact on the way people manage their money, including the youth.

The youth, in particular, have been at the forefront of adopting mobile payment
technology. This is due to their familiarity with mobile devices and their desire
for convenience and speed. With the growing popularity of mobile payment
apps, youth are now able to make payments instantly, without the need for cash
or physical cards.

The impact of mobile payment on the youth has been significant. It has led to
increased financial inclusion, allowing young people who may not have access
to traditional banking services to participate in the economy. Mobile payment
also offers a level of security, as users can easily monitor and track their
spending.

However, there are also concerns that the ease of mobile payment may lead to
increased spending and debt for the youth. Additionally, there are risks
associated with mobile payment, such as the potential for fraud and
cybersecurity threats. It is therefore important for young people to be educated
on how to use mobile payment safely and responsibly.

Overall, the impact of mobile payment on the youth is complex and

multifaceted. While it has the potential to increase financial inclusion and
convenience, there are also risks associated with its use. As mobile payment
technology continues to evolve, it will be important to monitor its impact on the
youth and ensure that appropriate safeguards are in place to protect their
financial well-being.

2. IMPORTANCE AND SIGNIFICANCE OF STUDY

Financial inclusion: Mobile payment technology has the potential to provide financial

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access to those who may not have access to traditional banking services, such as the youth.
This can empower them to participate in the economy and manage their finances more
effectively.
Convenience: Mobile payment technology provides a quick and easy way for the youth to
make transactions. This convenience can encourage them to make more frequent
transactions and lead to increased spending, which can benefit the economy.
Security: Mobile payment technology offers a level of security as users can easily monitor
and track their spending. This is especially important for the youth who may not have as
much experience managing their finances.
Digital literacy: The use of mobile payment technology can increase the digital literacy of
the youth, helping them develop skills that will be increasingly important in the future.
Innovation: The adoption of mobile payment technology by the youth can drive
innovation in the financial industry. This can lead to new products and services that
benefit consumers.
However, there are also potential risks associated with mobile payment
technology, such as fraud and cybersecurity threats. It is therefore important for the youth
to be educated on how to use mobile payment safely and responsibly.
Overall, the impact of mobile payment on the youth is significant and has the
potential to transform the way they manage their finances. It is important to continue to
monitor its impact and ensure that appropriate safeguards are in place to protect the
financial well-being of the youth.

3. OBJECTIVES OF STUDY

1. To identify the factors influencing the adoption of mobile payment technology

among the youth.
2. To understand the impact of mobile payment technology on the financial behavior
and management of the youth.
3. To examine the extent to which mobile payment technology contributes to
financial inclusion among the youth.
4. To investigate the potential risks associated with the use of mobile payment
technology by the youth and identify ways to mitigate them.
5. To explore the role of education in promoting safe and responsible use of mobile
payment technology among the youth.

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 6. To assess the impact of mobile payment technology on the digital literacy of the
youth.
7. To identify the potential for innovation in the financial industry as a result of the
adoption of mobile payment technology by the youth.
8. To provide insights for policymakers and stakeholders on how to effectively
promote the adoption of mobile payment technology among the youth while
ensuring their financial well-being.
Overall, the objectives of studying the impact of mobile payment technology
with special reference to youth are to provide a comprehensive understanding of
how this technology is transforming the financial landscape for the youth and to
identify ways to promote its safe and responsible use.

4. HYPOTHESES
1. H1: The adoption of mobile payment technology among the youth is influenced by
factors such as ease of use, security, and availability of alternative payment
options.
2. H2: The use of mobile payment technology among the youth leads to increased
spending and transactions.
3. H3: Mobile payment technology contributes to financial inclusion among the
youth, allowing them to participate more fully in the economy.
4. H4: The use of mobile payment technology among the youth is associated with a
higher level of financial literacy and better financial management.
5. H5: Mobile payment technology presents potential risks for the youth, including
fraud and security threats, which may negatively impact their financial well-being.
6. H6: Education and awareness campaigns can be effective in promoting safe and
responsible use of mobile payment technology among the youth.
7. H7: The adoption of mobile payment technology among the youth can drive
innovation in the financial industry, leading to new products and services that
benefit consumers.

5. RESEARCH METHODOLOGY
Define the research problem: The first step is to clearly define the research problem

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 and the objectives of the study.
Literature review: Conduct a thorough review of existing literature on mobile payment
technology, financial behavior of youth, and the impact of technology on financial
inclusion.
Develop research hypotheses: Develop research hypotheses based on the research
problem and objectives.
Sampling: Determine the target population and sampling strategy. In this case, the
target population would be youth who use mobile payment technology.
Data collection: Collect data using various methods such as surveys, interviews, and
analysis of mobile payment transactions.
Data analysis: Analyze the data using appropriate statistical techniques and software to
test the research hypotheses.
Findings: Present the findings of the study in a clear and concise manner, highlighting
the implications for stakeholders.

The data collection methods may involve surveying a sample of youth who use
mobile payment technology, conducting in-depth interviews with key stakeholders, and
analyzing transaction data provided by mobile payment providers. The analysis may
involve descriptive statistics, regression analysis, and other techniques to identify patterns
and relationships in the data. The research methodology should also address ethical
considerations such as informed consent and data privacy.

6. LIMITATIONS OF THE STUDY

Here are some potential limitations of a study on the impact of mobile payment with
special reference to youth:

Sampling bias: The study may be limited by the representativeness of the sample. For
example, if the sample only includes youth from urban areas or those with access to
smartphones, the findings may not be generalizable to the broader population.

Self-reporting bias: The data collected through surveys and interviews may be subject
to self-reporting bias, where participants may not provide accurate or truthful
responses due to social desirability bias or other factors.

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 Limited time frame: The study may be limited by a short time frame, which may not
allow for the examination of longer-term effects of mobile payment adoption among
youth.

Limited data availability: The study may be limited by the availability of data,
especially if the study relies on transaction data provided by mobile payment providers
who may not disclose all necessary information due to privacy concerns.

Cultural and contextual differences: The study may be limited by cultural and
contextual differences, which may affect the adoption and use of mobile payment
technology among youth in different regions and countries.

Technology changes: The rapid pace of technological change may make the findings
of the study outdated quickly, especially if the study focuses on a specific mobile
payment technology that is soon replaced by newer innovations.

External factors: The impact of mobile payment technology on youth may be

influenced by external factors such as changes in government policies or economic
conditions, which may be outside the scope of the study.

It is important for researchers to acknowledge these limitations and attempt to mitigate

them as much as possible in the research methodology.

7. EXPECTED CONTRIBUTION

A study on the impact of mobile payment with special reference to youth can
contribute to the understanding of the role of mobile payment technology in shaping
the financial behavior and attitudes of young people. Specifically, it can provide
insights into the following areas:

Adoption and usage patterns: The study can identify the factors that influence the
adoption and usage of mobile payment technology among youth, such as ease of use,
perceived security, and social norms.

Financial literacy and inclusion: The study can explore the relationship between
mobile payment usage and financial literacy and inclusion, and identify ways in which
mobile payment technology can be leveraged to improve financial education and
access to financial services among youth.

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Impacts on spending and saving behavior: The study can examine how mobile
payment technology affects the spending and saving behavior of youth, and identify
any potential risks or benefits associated with these behaviors.

Economic and social impacts: The study can assess the economic and social impacts
of mobile payment adoption among youth, such as its effect on entrepreneurship,
employment, and social networks.

By shedding light on these important areas, a study on the impact of mobile payment
with special reference to youth can inform policy decisions and industry practices that
support financial inclusion and empowerment among young people.

8. CHAPTERISATION

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SR. NO. CONTENTS

1 INTRODUCTION

2 THEORETICAL BACKGROUND

3 HYPOTHESES

4 RESEARCH METHODOLOGY

5 FINDINGS, CONCLUSIONS AND SUGGESTIONS

6 ANNEXURE
1) QUESTIONNAIRE
2) BIBLIOGRAPHY
3) BIO-DATA OF THE SUPERVISOR

 ANNEXURE

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 I. BIBLIOGRAPHY
Sr. Author Title
No.
1 David Birch "Identity is the New Money"
2 Peter D. The Future of Mobile Payment Innovation: Leveraging Blockchain
Fröhlich and Digital Platforms"
3 Shyam Sundar "Mobile Persuasion: 20 Perspectives on the Future of Behavior
Change"
4 Michael "Understanding and Managing the Mobile Payment Revolution"
Trusov

II. WEBSITES

A) www.google.com
B) www.rediff.com
C) www.yahoo.com

III. MAGAZINES & JOURNALS

 Mobile Payments Today

 Journal of Payments Strategy & Systems

 Journal of Mobile Commerce Research

 International Journal of Mobile Communications

 Journal of Electronic Commerce Research and Applications

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