ISSN2320-2882
Impact Factor9.17
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ESTD2013
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Paper Title
An Empirical Study of Digital Payments and Their Impact on the Indian Economy
Authors
Raghavendra Suresh Rao
Keywords
Point of sale, Platforms, Financial inclusion, Transparency
Abstract
The Indian economy has been witnessing a profound transformation in its payment landscape, driven by the rapid adoption of digital payment systems. Over the past decade, technological innovations, policy initiatives, and behavioural shifts have accelerated the move from cash-based transactions to digital modes. Digital payments encompass a variety of platforms such as Unified Payments Interface (UPI), mobile wallets, Aadhaar-enabled Payment Systems (AePS), point-of-sale (PoS) transactions, debit and credit cards, internet banking, and QR code-based payment systems. This paper examines the evolution of digital payments in India, the drivers of their adoption, and their impact on economic growth, financial inclusion, transparency, and cost efficiency. Using secondary data from RBI reports, NPCI statistics, and global studies, the paper analyse the correlation between digital transaction volumes and macroeconomic performance indicators. The findings indicate that while digital payments have led to significant improvements in efficiency and transparency, challenges remain in the form of rural infrastructure gaps, cyber risks, and uneven digital literacy. The paper concludes by offering recommendations for strengthening the digital payments ecosystem to maximize its contribution to the Indian economy.
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IJCRT — journal style
"An Empirical Study of Digital Payments and Their Impact on the Indian Economy", IJCRT - International Journal of Creative Research Thoughts (www.ijcrt.org), ISSN:2320-2882, Vol.13, Issue 8, page no.f101-f105, August 2025, Available :https://ijcrt.org/papers/IJCRT2508580.pdf
APA — 7th edition
Rao, R. S. (2025). An Empirical Study of Digital Payments and Their Impact on the Indian Economy. International Journal of Creative Research Thoughts, 13(8), f101-f105. https://ijcrt.org/viewpaperforall.php?paper=IJCRT2508580
MLA — 9th edition
Rao, Raghavendra Suresh. "An Empirical Study of Digital Payments and Their Impact on the Indian Economy." International Journal of Creative Research Thoughts, vol. 13, no. 8, 2025, pp. f101-f105, https://ijcrt.org/viewpaperforall.php?paper=IJCRT2508580.
Chicago — 17th, bibliography
Rao, Raghavendra Suresh. "An Empirical Study of Digital Payments and Their Impact on the Indian Economy." International Journal of Creative Research Thoughts 13, no. 8 (2025): f101-f105. https://ijcrt.org/viewpaperforall.php?paper=IJCRT2508580.
Harvard — author–date
Rao, R.S. (2025) 'An Empirical Study of Digital Payments and Their Impact on the Indian Economy', International Journal of Creative Research Thoughts, 13(8), pp. f101-f105. Available at: https://ijcrt.org/viewpaperforall.php?paper=IJCRT2508580
IEEE — numbered reference
R. S. Rao, "An Empirical Study of Digital Payments and Their Impact on the Indian Economy," IJCRT, vol. 13, no. 8, pp. f101-f105, Aug. 2025.
Vancouver — biomedical
Rao RS. An Empirical Study of Digital Payments and Their Impact on the Indian Economy. IJCRT. 2025 Aug;13(8):f101-f105.
AMA — 11th edition
Rao RS. An Empirical Study of Digital Payments and Their Impact on the Indian Economy. IJCRT. 2025;13(8):f101-f105. Accessed at https://ijcrt.org/viewpaperforall.php?paper=IJCRT2508580
BibTeX — Zotero, Mendeley, LaTeX
@article{IJCRT2508580,
author = {Raghavendra Suresh Rao},
title = {An Empirical Study of Digital Payments and Their Impact on the Indian Economy},
journal = {International Journal of Creative Research Thoughts},
volume = {13},
number = {8},
pages = {f101-f105},
year = {2025},
month = {August},
issn = {2320-2882},
url = {https://ijcrt.org/viewpaperforall.php?paper=IJCRT2508580}
}
RIS — EndNote, RefWorks
TY - JOUR
AU - Rao, Raghavendra Suresh
TI - An Empirical Study of Digital Payments and Their Impact on the Indian Economy
T2 - International Journal of Creative Research Thoughts
JA - IJCRT
VL - 13
IS - 8
PY - 2025
SN - 2320-2882
UR - https://ijcrt.org/viewpaperforall.php?paper=IJCRT2508580
SP - f101-f105
ER -
Issue
Volume 13 Issue 8,
August-2025
Pages : f101-f105
Article Information
- Pages
- f101-f105
- Published
- August 2025
- Registration ID
- IJCRT_292821
- Published Paper ID
- IJCRT2508580
- Research Area
- Commerce and Management, MBA All Branch
- Author Type
- Indian Author
- Location
- Kalaburagi, Karnataka State 585101, Kalaburagi, Karnataka State 585101, India
- Peer Review
- Request Peer Review Report
- Licence
- CC BY 4.0 · Open Access
- ISSN & Impact Factor
- 2320-2882 · IF 9.17
- Downloads
- 216
- Permanent Link
- https://ijcrt.org/viewpaperforall.php?paper=IJCRT2508580
- Published Paper PDF
- https://ijcrt.org/papers/IJCRT2508580.pdf
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The authors would like to thank the reviewers and the editorial board of International Journal of Creative Research Thoughts for their careful reading and constructive comments, and all colleagues who supported the preparation of this manuscript.
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