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VOL. 10, ISSUE 4 (2024)
E-Payment: Growth and opportunities in India
Authors
Mohammed Avais
Abstract
E-Payment has transformed the way of monetary transactions across the
world. From being secure and convenient, it reduces processing cost, boosts
e-commerce and improves financial inclusion. Open banking and real time real
time payment system is made possible with the introduction of e-payment.
Government of India and different stakeholders such as banks, fintech and IT
companies have put their efforts in converting India into a cashless economy.
Many new mechanisms of e-payment have been launched in recent past such as UPI,
Bharat QR and BHIM Pay etc. to facilitate use of e-payment in India. This paper
highlights different mechanism of e-payment and its growth in term of volume
and value of transaction. The study finds that new technological adoption, and
different initiatives taken by Government of India and RBI resulted into
greater acceptability and deeper penetration of e-payment in India.
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Pages:39-44
How to cite this article:
Mohammed Avais "E-Payment: Growth and opportunities in India". International Journal of Commerce and Management Research, Vol 10, Issue 4, 2024, Pages 39-44
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