International Journal For Multidisciplinary Research

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An Efficacy of the Digital Payment Systems in India

Author(s) Dr. C.P. Jayaseelan, Dr. Sheeba Julius
Country India
Abstract India's financial and business environment saw a dramatic change with the introduction of online payment methods. It started in the early 2000s as the internet and mobile technology developed, but after 2010, it really took off because of the emergence of smartphones, e-commerce, and government-sponsored digital projects.

Examining the Literature: A literature review is a methodical examination of past research, aiming to identify relevant studies that align with ongoing theoretical and conceptual research articles.

Tests of the Aims : To examine India's digital payments in outline, To determine the strengths and drawbacks of digital payments in India

Methods and Materials: To examine digital payment options in India, secondary web-based resources were examined, such as official websites and IT media outlets.

Results and Discussion: India's digital transactions have seen a steady increase in FY 2021-2023, reaching 2,221.9 crore transactions, indicating a robust rise in digital usage year over year. The value of digital transactions grew by 17%, with UPI becoming the most popular payment method. The country is expected to handle around 17,221 crore transactions in FY 2024-2025, making up more than 80% of the volume of digital payments. Government initiatives have significantly accelerated the adoption of UPI, transforming India into a global leader in digital transactions.

Discussion of the Future Work: India is focusing on future initiatives to enhance its digital infrastructure and improve efficiency, security, and inclusivity. Strengthening cyber security infrastructure and enhancing internet connectivity in rural areas are crucial for universal access. Including regional languages and user-friendly platforms for older and less literate customers, along with integrating digital technologies like the Digital Rupee, can solidify India's position as a global leader in digital finance.
Keywords Digital Payment, Systems,India.
Published In Volume 7, Issue 4, July-August 2025
Published On 2025-08-07
DOI https://doi.org/10.36948/ijfmr.2025.v07i04.52947
Short DOI https://doi.org/g9wjcm
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