INTRODUCTION In today’s world, smartphones have become an integral part of our daily life. The number of smartphone users is increasing day by day as newer and cheaper versions are being made available overnight. According to a report, published in The Hindu on Feb 3, 2016 (www.thehindu.com), the smartphone market in India has surpassed the US market with 220 million active users. To exploit the full potential of the modern smartphone, newer and unique services are being added every day. Smartphones have bypassed the use as mere communication devices, but are now being vouched for as a socialisation tool, entertainment tool, internet access tool, and even payment tool. Mobile phones are now being used to make money transaction or payment by using applications installed in the phone. Apart from payment, people can also store receipts, coupons, business cards, bills etc. in their smartphones. The e-wallet application works by making prospective customers install the app created by companies like Google Inc., PayPal (Global companies providing mobile wallet services) or Paytm, Freecharge (Indian companies providing mobile wallet services) in the phone, and then use the app to pay directly for the products/ services. Awareness is increasing gradually about the economic benefts that mobile payments provide to the society as it has signifcant lower costs than cash-based services and existing card payments (Mallat, Rossi, & Tuunainen, 2004). Moreover, it generates competitive advantage for enterprises via its ubiquity and convenience (Mallat, 2007). Thus, governments and marketers are pushing and promoting the usage of digital money. Mobile wallets have become popular in a very short span of time. Today, it is one of the most successful business ideas for start-ups. There is evidence that it has surpassed credit cards in terms of the number of users in just a fraction of time. Vijay Shekar Sharma’s venture Paytm alone has 100 million users with over 10 million app downloads. Over the past four years, mobile wallet transactions have jumped from Rs 10 billion of transactions in 2012-13 to more than Rs 490 billion in the year 2015-16 (as per a report in Scroll.in accessed on 25/03/2017). According to a study by research frm RNCOS, the Indian market is estimated to rise to Rs. 1,210 crore by 2019. Traditionally, fnancial transactions have been made through banks and fnancial institutions. Thus, customers nowadays have too many alternatives to choose from. E-wallet services bypass the time and place barrier by enabling the customer to conduct real time transaction any time and from anywhere. On a global perspective, mobile wallets are pushing economies to progress to a cashless society. However, mobile wallet is a young concept in India. Hence, there is a need for better understanding of the factors affecting the adoption of mobile payments. THEORY AND MODEL Before embarking on a detailed description of the research models studied for this research, we have to understand A STUDY ON CONSUMERS’ ADOPTION INTENTION FOR DIGITAL WALLETS IN INDIA Satadruti Chakraborty*, Dipa Mitra** Abstract: The purpose of the present research study is to fnd out whether customer demographics infuence adoption intention for e-wallets in India and to identify the parameters that are most important in predicting consumers’ adoption intention and whether the market can be segmented into different customer groups. The regression model showed an impressive amount of variance explained for adoption intention (R2 =81.7%) and cluster analysis helped to reveal three different customer segments with their different set of criteria. The above fndings will help digital wallet companies to have a better and clear understanding of factors that infuence the adoption decision of Indian consumers concentrating particularly on the parameters that infuence end-users to adopt their services. Keywords: E-Wallet, Adoption Intention, Regression, Cluster, Anova * M.Phil Student, Indian Institute of Social Welfare & Business Management, Management House, College Square West, Kolkata, West Bengal, India. Email: satadruti157@gmail.com. ** Head, Indian Institute of Social Welfare & Business Management, Management House, College Square West, Kolkata, West Bengal, India. Email: askdipa@gmail.com Article can be accessed online at http://www.publishingindia.com