ABSTRACT
Our nation has witnessed a remarkable augmentation in digital payments. Mounting government initiatives such as Digital India is playing a crucial role in stepping forward towards digitalization. The government aims to craft a digitally empowered nation that is cashless, paperless, and faceless. Electronic transactions made at the point of sale system to a website e-commerce shopping cart either by using mobile banking or internet banking with the help of Smartphones or debit and credit cards are known as digital payment. Embracing cashless payments has been outstandingly amplified by Prime Minister Mr. Narendra Modi by banning the esteemed value paper money. This decisive move has shown an exceptional enlargement in an online transaction. This chapter aims to demystify the concept of “Digital Payment” in our country. At the end of reading this paper, every reader would have lucidity in their mind about the impact of digital payment to bloom the financial technology in India.
