Published Paper Details:

The paper is an attempt to provide an overview of the digital payment transactions in India and to examine consumer perception of digital payment system. It also analysed the socio economic background of the online payment users, influence of technology on the usage of digital payment methods and the behavioral aspects of spending of the people in the online payment system. Digital payments in India have been experiencing an exponential growth. Digital payment methods rapidly gained popularity in recent years due to its convenience, time saving, speed in the service delivery and ease of use. Consumers tend to prefer digital payments due to variety of reasons, including security, speed, and accessibility. However digital illiteracy, digital payment frauds, lack of privacy protection, non- acceptance of digital payment methods are major hindrances in the growth of digital payments. Access to and usage of technology and banking facilities influence the preference of digital payment methods. Majority of the people prefer both cash and digital payment methods for spending. Due to various digital payment frauds people argues that it is less safe and not protecting the privacy, these leads the people not to completely depending on the digital payment methods for making transactions. Despite the many benefits of digital payments, there are also real security concerns that must be addressed. From data breaches to phishing scams to fraudulent activities and malware attacks, these security issues of digital payments pose a significant risk to individuals and businesses alike. As we increasingly rely on digital payments to handle our financial transactions, we must take steps to ensure that these transactions are secure.