Published Paper Details:

A country needs money supply for economic activities to be carrying out, trade and commerce to quench demand and supply of goods and services. For such exchanges to continue payments of money and settlements of dues and charges need to be carried out. The better, more convenient and reliable the payment and settlement of a country or an economy is, the better is the economic efficiency of that country. The payment and settlement system comprises of various arrangements that is used to systematically, efficiently and securely transfer money/currency, cheques, demand drafts, and money through various electronic channels. In most countries the Central Bank is generally the regulatory authority and is responsible for development of the National Payment System. In India, Reserve Bank of India is the regulatory authority and is in charge of driving the development of our National Payment and Settlement System. The highest policy making body on payment System in our country is the Board for Regulation and Supervision of Payment and Settlement Systems (BPSS), a sub-committee of RBI and the regulation is done in accordance with the Payment and Settlement Systems Act, 2007 (PSS Act). In the research paper critical issues about e-payment systems are discussed ranging from the preferred mode of payment, mobile payments and security measures used in e-payment systems to cash payments.