Published Paper Details:

Abstract: Digital Payments Propelled by recent policy initiatives and is the gateway to technological advancement. In the present scenario India's digital payment system is promising success story. The country has seen a tremendous increase in the usage of digital payments. A digital payment, also known as an electronic payment, is the transfer of value from one payment account to another using a digital device such as a mobile phone. Mode of digital payment commonly used by the citizens of the country are bank transfers, mobile money, and payment through credit, debit, Paytm, Phonepe, Google Pay, Amazon pay, JioMoney, Freecharge, Mobikwik, PayUMoney, digital wallets, UPI, BHIM and prepaid cards etc. This transformation towards digital payments methods benefits in more transparency in transactions which empowers the country's economy. Since the launch of IMPS by NPCI in 2010 until the release of UPI in 2016, the digital payment system has evolved several times. The study is an attempt to analyze how the various forms of digital payment evolved in the past and how COVID-19 impacted the digital payment systems in India. The study concludes that digital payments in India recorded a robust growth of 26.2 per cent in terms of volume during 2020-21 on top of the expansion of 44.2 per cent in the previous year. Lastly, it has been observed that after COVID-19 pandemic, people were concerned about health regulations and were afraid of cash transactions which made them switch to this mode, resulting in a rise in the usage of different modes of digital payment systems. The objective of this research paper is to study the positive impact that Digitalization of payment system. The present paper focuses on the analysis of the adoption level of these digital payment systems by customers. Primary data was collected from 50 respondents in Mysore. The collected data through the questionnaire were analyzed statistically by using percentage technique.