THE IMPACT OF AGE AND INCOME ON THE ADOPTIONANDUSAGE PATTERNS OF DIGITAL WALLETS: ACROSS- DEMOGRAPHIC STUDY

Aim: The primary aim of this study is to examine the factors that influence consumeradoption of digital wallets compared to traditional payment methods and other non-digital transactions. Through a quantitative research approach, the study evaluates the performanceand adoption rates between non-digital wallet transactions and novel digital wallets. Asample size of 40 participants was determined using G*Power analysis, ensuring sufficient statistical power with a 95% confidence interval. Data were collected using digital surveytools to assess participants' experiences and satisfaction levels with each transactiontype. Statistical analysis, including t-tests and ANOVA, was conducted to compare the accuracyand consumer satisfaction between the two groups. The results reveal a significant preference for digital wallets, with 61.7%of dailyusersrelying on them for a variety of transactions. Money transfers were the most commonusecase among weekly and monthly users (40.7% and 26.2%, respectively). Moreover, 46.6%ofparticipants utilized digital wallets for all specified functions, demonstrating their versatilityand broad application. T-test results indicated significant differences in user ratings, withtwo-tailed significance values of .030 and .023, both below the P<0.05 threshold, highlighting a meaningful difference in consumer satisfaction. In conclusion, the study confirms that digital wallets provide a more efficient, accurate, andreliable alternative for conducting transactions compared to traditional payment methods, offering increased convenience and satisfaction for users