Published Paper Details:

In the recent years, various efforts have been taken by individuals and the government to introduce a cashless system of making payments in the economy of India. Under this initiative, the government of India launched the �Digital India� campaign and encouraged the citizen of India to indulge in electronic methods of making payments. This was done in a two-fold manner; by introducing simpler platforms for on-the-go payments such as e-wallets and Unified Interface Payments, and by providing incentives to those indulging in electronic methods of payments in the form of discounts and cashbacks. As a result of these efforts taken by both private and public players in the market, the usage of cash has substantially reduced in the country. It has been commonly observed by various scholars and researchers that most developed economies transact on the electronic platform. This is majorly due to its network, speed and reliability. This paper aims to identify the relationship between digital payments and its impact on the economy of India. For the purpose of analysis debit and credit card transactions along with the more recently introduced UPI transactions have been considered. GDP at constant prices has been taken as the dependent variable. Data has been collected for the years 2011 to 2019. Analysis revealed that out of debit and credit card transactions, debit card transactions have a greater impact on the GDP of the country. UPI has not yet been developed and used enough to make a significant impact on the economic growth of the country.