STUDY OF DIGITAL PAYMENTS IN INDIA

Abstract

The evolution of Information Technology has revolutionized the various aspects of our day to day life. One such aspect came in the form of Digital Payments with the increasing demand of smart phone and ease of internet availability. With the government programmes like Digital India to promote digital payments and transaction and initiatives like demonetisation which paved the way for digital payments across the country. The percentage of digital payment across the modes is increasing with a significant speed. As the reach of internet expands to Tier 4, 5 cities, small towns and villages, this cashless transaction is certainly going to cross new heights. Here, we will study about Digital Payments and government of India initiative for Digital Payments. The report will cover the different digital payment modes, the growth and increasing trends of digital payment with the help of Secondary study. This report also covers the Primary study to showcase the adoption of digital payments over cash payments during Covid-19 Pandemic.