Digital Payment Systems as a Pathway to Financial Inclusion in India

Author(s)	Mr. Girish J Jayaram
Country	India
Abstract	The rise of digital payment systems—driven by innovations like the Unified Payments Interface (UPI), mobile wallets, and Aadhaar-enabled services—has significantly reshaped India’s financial landscape. These technologies have broadened access to banking facilities, reduced barriers to inclusion, and encouraged the shift toward a cashless economy. Despite these advances, challenges such as cyber security risks, limited digital literacy, and regulatory concerns persist. This research, conducted through a survey of 150 retail users in Mysuru explores the motivators, obstacles, and user behaviors linked to digital payment adoption. The findings highlight that ease of use, transaction speed, and government-led incentives are key enablers, while fears of fraud and low awareness in rural areas hinder wider adoption. Overall, the study emphasizes the importance of strong policy measures and focused digital literacy programs to fully unlock the socio-economic potential of digital payments.
Keywords	Digital Payments, Financial Inclusion, UPI, Retail Users, India, Digital Literacy
Field	Business Administration
Published In	Volume 7, Issue 6, November-December 2025
Published On	2025-11-30
DOI	https://doi.org/10.36948/ijfmr.2025.v07i06.62099
Short DOI	https://doi.org/hbdsnd

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