Digital Payment Trends, Issues and Opportunities in India

Abstract

By enabling cashless transactions and encouraging a digital
economy, digital payment has completely transformed India's financial
landscape. The Government of India's (GOI) attempts to adopt digital solutions
for Government to Citizen (G2C), Government to Business (G2B), and
Government to Government (G2G) services are highlighted in this paper's review
of the Indian digital payment ecosystem. The use of tools and technologies to
facilitate digital transactions is also covered in the study, which also examines
issues including cybercrime and digital literacy.We can draw the conclusion
that India's digital economy enables citizens to access effective, efficient,
transparent, and accountable services.