Title: Status of digital payment system in India after COVID-19

Authors: Mukesh; Mahabir Narwal

Addresses: Department of Commerce, Government College Sector-9 (Gurugram), India ' Department of Commerce, Kurukshetra University (Kurukshetra), India

Abstract: Technology has changed our day to day life in all aspects. If we want to transfer our money to someone, we do not need to visit our bank. Through online transactions, we can transfer our money from one account to another. All bills and transactions can be managed by banking applications in our smartphone. For financial development, digital transformation is necessary. In 2015 to promote digitisation, the Government of India launched the Digital India Programme. Financial digitisation was accelerated by 2020 when the pandemic influenced the world. Lockdown in India brought that acceleration with various online payment methods like: UPI, bank prepaid cards, bank cards, etc. Many new users were added into digital payment during pandemic. This article provides the status of digital payment system in India and the influence of the pandemic in digitisation.

Keywords: COVID-19; e-wallet; e-payment; digital payment; Reserve Bank of India; RBI.

DOI: 10.1504/IJBC.2023.132706

International Journal of Blockchains and Cryptocurrencies, 2023 Vol.4 No.2, pp.144 - 156

Received: 05 Feb 2023
Accepted: 03 May 2023
Published online: 08 Aug 2023 *

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