ISSN: 2265-6294

Adoption and Effect of Modern Payment System Development in India: A Study of Retail Digital Payment in Bilaspur Division of Chhattisgarh

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Priyank Mishra,A. Sri Ram

Abstract

India is the second-largest nation in the world, with 1.3 billion individuals, or about 18% of the world's populace. A long-term approach in the system of a digital payment is needed to accommodate rising population's demands for monetary services. Digital payment offers suitability, transactional ease, privacy. This investigative study emphases on the expansion of digital payments from 2012–2013 to 2018–2019 in relations of operation size and worth. Conferring to the research, aggregate digital payments have augmented in size (24.11%) and worth (15.84%) over the past few years all over the country. Additionally, in 2020–2021, the country is projected to make 28,000 lakh dealings worth more than INR 15,20,000 billion in digital payments.

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