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International Journal of
Commerce and Management Research
ARCHIVES
VOL. 8, ISSUE 4 (2022)
Challenges and opportunities-Digital payments of rural India
Authors
Mood Prashanthi
Abstract
Rural India fundamentally affects the financial advancement of the nation, and with the arising changes of ICT infiltration, and the effect of demonetization, close by the advanced drives did for rural sections, the need for working on the patterns of advanced installments model in country India is vital. Taking into account the advantages like straightforwardness in exchanges, scope for abridging equal economy and working on the simplicity of business, it is exceptionally fundamental that the change towards advanced installments, even in the country economy is engaged. A portion of the progressive advancements in the new past like sendoff of numerous computerized wallets like - Paytm, Mobiwik, Free Charge and so forth and government sending off numerous UPI (joined installment interface) arrangements and BHIM application for smooth progress to advanced installments, there are huge advancements occurring. Details from the statistical surveying additionally portray significant ascent in computerized exchanges post de-adaptation period. As far as challenges, certain key elements like restricted choices for advanced exchanges in light of component telephones, issues of mindfulness towards computerized exchanges, imperatives of PoS exchanges and so on are a portion of the characteristic issues that influence the advanced exchanges. Despite the fact that the social trends are being very positive in rural segments for embracing the digital payments, still there are considerable challenges too in succeeding the paradigm shift. The futuristic steps like enabling digital payment transactions based on Aadhar numbers could be a game-changers if handled effectively. In this manuscript, the factors that impact and support towards digital transactions in rural economy is reviewed taking stock of current trends, market analysis, readiness of the infrastructure and the stakeholder accountabilities, to gain insights to the critical success factors to be addressed. It is imperative from the review of research reports, statistics over the digital payment trends, that if some of the key macro challenges, business limitations and consumer related issues are addressed, there could be potential developments envisaged in the process.
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Pages:80-82
How to cite this article:
Mood Prashanthi "Challenges and opportunities-Digital payments of rural India". International Journal of Commerce and Management Research, Vol 8, Issue 4, 2022, Pages 80-82
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