Digital Payment Dynamics Unveiling the Impacts on Sustainable Development, Environmental Protection, and Social Inclusion

Digital payment, a pivotal component of bankings digital transformation, plays a crucial role in fostering a nations economic growth. This is achieved by facilitating seamless and convenient online transactions, thereby enhancing customer experience and streamlining banking operations. Given the widespread use of smartphones and internet access among todays population, digital modes such as UPI, USSD, and internet banking have become integral to various activities like financial transactions and online shopping. In the contemporary era, sustainability, encompassing social inclusion, environmental protection, and economic growth, is paramount. By exploring the nexus between digital payment and sustainability, the paper aims to provide insights into the transformative potential of digitalization in fostering economic growth while aligning with the principles of social inclusion and environmental preservation. Descriptive in nature, the research relies on secondary data gathered from various sources, including books, journals, and articles, available on electronic platforms. Digitalization emerges as a valuable tool contributing to sustainable development, with a focus on achieving a cashless economy, reducing the carbon footprint associated with financial transactions, and providing cost effective services to citizens, thereby promoting enhanced financial inclusion. This paper delves into the role of digital payments in the banking sector in realizing sustainable development goals. Examining government policies on digital payment and sustainability, the paper addresses the challenges and opportunities associated with sustainable development. Dr. Suresh Chandra Agarwal | Vaishali Shukla | Abhishek Awasthi "Digital Payment Dynamics: Unveiling the Impacts on Sustainable Development, Environmental Protection, and Social Inclusion" Published in International Journal of Trend in Scientific Research and Development (ijtsrd), ISSN: 2456-6470, Volume-8 | Issue-1 , February 2024, URL: https://www.ijtsrd.com/papers/ijtsrd63442.pdf Paper Url: https://www.ijtsrd.com/management/equality-diversity-and-inclusion/63442/digital-payment-dynamics-unveiling-the-impacts-on-sustainable-development-environmental-protection-and-social-inclusion/dr-suresh-chandra-agarwal