The Rise and Growth of Digital Payments in India
C.H. Padmaja1, P. V. Durga Rao2
1Dr.P.Venkata Durga Rao, Assistant Professor in K L Business School, K L (Deemed to be University) K L E F, Vaddeswaram.
2C.H. Padmaja, Assistant Professor in St. Joseph Degree & PG College.
Manuscript received on September 14, 2019. | Revised Manuscript received on 24 September, 2019. | Manuscript published on October 10, 2019. | PP: 359-363 | Volume-8 Issue-12, October 2019. | Retrieval Number: L32631081219/2019©BEIESP | DOI: 10.35940/ijitee.L3263.1081219
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© The Authors. Blue Eyes Intelligence Engineering and Sciences Publication (BEIESP). This is an open access article under the CC-BY-NC-ND license (http://creativecommons.org/licenses/by-nc-nd/4.0/)
Abstract: India stepped into digital India. The digital India program taken up by the Government of India is mainly to transform India into a digitally empowered society. Faceless, paperless and cashless is one of the professed roles of Digital India. According to the Government of India, the digital payments will increase the employment, minimize risk related to cash like robbery, corruption and storage of huge amounts by way of cash and promotes transparency in operations and attains governance. This paper focuses how the transformation has taken place in the payment industry from coins to paper, to plastic money and now to e-wallets.
Keywords: Digital Payments, e-wallets, Initiatives, challenges and Opportunities
Scope of the Article: Digital Signal Processing Theory