India’s Digital Payment Landscape – An Analysis
نویسندگان
چکیده
Purpose: The Indian payments sector is undergoing far reaching changes, with digital capturing a sizable slice of the cake in recent years. changes began from fully cash economy to less-paper-currency system. Reserve Bank India and its nodal agencies are working hard make goal, reality. Nearly one billion cards more than two Prepaid Payment Instruments (PPI) such as online wallets, mobile applications, e-wallets, payment modalities have pushed into world’s fastest growing largest ecosystem. In fact, an exponential increase internet infrastructure boosted e-commerce. Unified Interface, popularly known UPI, regarded revolutionary solution market for facilitating retail payments. main objective this paper identify innovations India’s landscape phased manner. While doing so, it also analyses industry by applying PESTEL model political, economic, technological, environmental legal factors. Design/Methodology/Approach: This study examines India's terms gradual progress. Using model, external factors that contribute less economy. Secondary sources were used gather data study, which included reports, circulars, rules, statements made other relevant organisations. Findings/Results: According segment has seen tremendous success since implementation UPI National Corporation (NPCI) 2016. government's Direct Benefit Transfer (DBT) programme enabled country achieve financial inclusion all citizens having access banking services. Government legislation, regulator intent, social behaviour, increased smartphone usage, lower costs, others significantly impacted growth ensuring secure, faster, cost-effective, secure solutions. Originality/Value: using methodology, allows us see sides. Paper Type: Industry Analysis-based Research Case Study.
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ژورنال
عنوان ژورنال: International journal of case studies in business, IT, and education
سال: 2022
ISSN: ['2581-6942']
DOI: https://doi.org/10.47992/ijcsbe.2581.6942.0161