TO STUDY THE IMPACT OF ADVANCEMENT IN E-PAYMENT TECHNOLOGY USED IN INDIA

Abstract

Electronic Payment (E-Payment) plays the most important role in an Individual’s life. It is one of
the most widely used and acceptable mediums for the transfer of funds or payments. Because of
its well-situated nature, easy and speedy payments, accuracy, and appropriateness, it is used
worldwide. No doubt, the currency is used as a medium of exchange but, Electronic payments or
cashless transactions are also increased when compared with past years. With the introduction of
two government policies for expansion of Digital payments or E-Payments systems in India are,
“Digital India” and “Skill India” as in India out of every four, three are without access to digital
payments or E-Payments. The penetration level of credit cards and debit cards are very less as
compared with overseas. Both primary and secondary source of data collection is been used, by
covering the area where population size was of not more than 3000 individuals and random
sampling is done from those who are having their bank account and take a sample size of 160
individuals, along with the level of accuracy is explained by applying correlation and Z-test.