A STUDY ON THE EFFECT OF ELECTRONIC PAYMENT SYSTEMS IN INDIA
Dr. S. Hepsiba Flosel
Assistant Professor in Economics, Department of Commerce, Hindustan College of Arts & Science, Padur, Chennai.
- Senthamiz Selvi
Assistant Professor & Head, Department of Commerce, Hindustan College of Arts & Science, Padur, Chennai.
Dr. N. Muruganantham
Assistant Professor, Department of Management, Hindustan College of Arts & Science, Padur, Chennai.
A Digital payment, also known as electronic payment, is a transfer of money from one account to another using an electronic medium. So, there is no exchange of physical money or instruments like cash, cheque, etc. This paper is analyzed to the overall performance of digital payment structures in India. The information taken for this study is secondary in nature and is accumulated from annual reviews of RBI. The goals of the study are to recognize the idea and running of EPS, its contemporary-day and destiny possibilities and transferring of cash to on-line payment modes. This study additionally considers the indispensability to apply on-line modes for making payment while the pandemic state of affairs is peak. The study reviews approximately the present literature at the idea of digital payment structures. This additionally covers the numerous additives of digital payment structures and its function in making an effective payment. The study concludes that during coming years the country becomes a cashless financial system regardless of numerous benefits of cash. As a result, India turns into a digital economy.
Keywords: Electronic payment system, Performance Analysis, Cashless economy, Digital economy