STUDY ON USAGE OF DIGITAL PAYMENT APPLICATIONS IN INDIA
Journal: International Journal of Accounting and Financial Management Research (IJAFMR) (Vol.11, No. 2)Publication Date: 2021-12-31
Authors : RAVI VEERARAGHAVAN SWETA MOHANTY SUMEDHA DUTTA; VINAY PAIDISETHI;
Page : 33-38
Keywords : Digital India; Demonetization; Cashless Economy & Payment App;
Abstract
For a long time, the world has been moving toward all things digital. However, the year 2020 highlighted the urgent need to embrace new technologies as soon as possible. With the implementation of the lockdown, this adaptation happened almost instantly, particularly in India for digital payments. The Indian government has been promoting and propagating online payments sharply, beginning with demonetization back in 2016. 'Digital India' has been the spirit of the many economic and financial decisions that pushed Indians to modify online payments. In a country like India, where disparities are sometimes different, ensuring financial equality becomes a problem of prime importance. This study analyses the usage of Digital Payment Applications and the challenges faced by users. The findings show that1/3 of the respondents in the age group 25-35 have been personally impacted by fraud, data theft, etc. There is a need to create awareness about the precautions to be taken so that the users are not victimized due to fraudulent activities.
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Last modified: 2022-01-22 20:04:30