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Stream/Area:
-
Subject:
-
Paper ID:
IJSREM65715
Volume:
10 |
6 |
Jun 2026
Pages:
1-4
Publication Frequency:
Monthly (12 issues per year)
License:International Journal of Scientific Research in Engineering and Management follows the Creative Commons Attribution 4.0 (CC BY 4.0) License, allowing free use and distribution with proper attribution.
Department of commerce
Government city college
Department of commerce
Government city college
Department of commerce
Government city college
Department of commerce
Government city college
Digital payments have transformed India's financial system by enabling secure, fast, and convenient cashless transactions. Government initiatives such as Digital India, Unified Payments Interface (UPI), Aadhaar Enabled Payment System (AePS), and BHIM have significantly increased digital payment adoption. The COVID-19 pandemic further accelerated the use of online transactions across urban and rural areas. This paper examines the growth, benefits, challenges, and future prospects of digital payments in India. It also highlights the role of technology, financial inclusion, and government policies in promoting a cashless economy.
KEYWORDS
Digital payments have transformed India's financial ecosystem by promoting convenience, transparency, and financial inclusion. Government initiatives such as Digital India, BHIM, Aadhaar, and UPI have accelerated the shift toward a cashless economy. Despite challenges like cybersecurity risks and internet accessibility, the future of digital payments remains promising. Continuous technological innovation, digital literacy programs, and stronger cybersecurity measures will further strengthen India's digital payment ecosystem.
Reserve Bank of India (RBI). Annual Report. National Payments Corporation of India (NPCI). UPI Statistics. Ministry of Electronics and Information Technology. Digital India Programme. Sharma, R., & Singh, P. (2022). Digital Payment Adoption in India. Kumar, A. (2021). Digital Banking and Cashless Economy. RBI Bulletin. NPCI Annual Reports. Government of India Publications. Journal of Banking and Finance. International Journal of Commerce and Management.
Publication Date
6/30/2026
Peer Review Type
Double-Blind Peer Review
Review Rounds: 2
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Conflict of Interest
The authors declare no conflict of interest related to this research work.
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