Impact of Covid-19 on digital payment system of India

ABSTRACT

Technology has revolutionized our world and everyday life over the years. In all these revolutions, technology our lives easier faster, better fun made. To withdraw or transfer money to someone you no longer have to enter the bank. Many banks have already made online transactions possible, everywhere. With your cell phone and banking application, you can manage all your bills online. Moreover, it is clear that COVID-19 million workers have been forced to stay home for the past eight months. There is a need to quickly transform digital technology into a 2020 vision. This adaptation came into effect almost immediately with the lockout, especially for India digital payments. The Government of been actively promoting online payments since 2016, starting with monetization. 'Digital India' was the driving force behind many digital and Indian economic decisions. There are different methods of digital payments in India, bank cards, Unstructured Support (AEPS) Data (USSD), Aadhaar Enabled Payment System, Integrated Payment (UPI), Bank Prepaid Cards etc. Therefore, overall Govt-19 has provided incentives for digital payment in India. © 2022 Author(s).