Neha Gupta, Jennifer Jagose, Aditya Mulye
In a VUCA world, things are extremely unpredictable and the onset of the COVID-19 took every industry by storm. The banking industry is witnessing seismic shifts as traditional net banking banks are being challenged by new-age, digital-only wallets that focus on a hyper-personalized digital-first approach to replace the traditional net banking experience. This research aims to understand the shifts in millennial customer behaviour that have taken place as they progress from net banking to digital wallets for their day-to-day payments. This research is based on primary quantitative data along with an intensive analysis of research papers, articles, and journals. The findings suggest that millennial customers are willing to try out new digital wallet apps and consider them reliable and convenient, indicating high levels of acceptance. Three key factors were majorly responsible for the change in customer behaviour from net banking to digital wallets 1) Performance efficiency 2) social influence 3) Safety. Therefore, digital wallets need to focus on these factors to maximize their digital interactions and embrace innovation to help millennials in their day-to-day banking needs.