Exploring the Digital Payments Space in India: Trends and Potential

India will become a digital society. in order to curb money laundering and lessen the need for cash in the economy, the Indian government established the Digital India programme. Diverse payment options are growing in popularity as India works towards its goal of becoming a cashless society. Concerns have been raised concerning the feasibility of introducing a fully digital payment system in India, a developing country where the vast majority of the population lives in rural areas and where just 6.5% of the population can read and write in English. The issues and consequences of India’s digital payment system for the country’s population and economy are the main topics of this study. The report tries to predict the eventual reach of the electronic payment system.