Authors: Chinmayi Santosh Bhosale, Prof. Titir Das Sharma
Abstract: The digital payment system is one of the main elements that drive today’s economy and change how people spend, save, and manage their money. The objective of this research study is to identify the concept of digital payment systems, their growth, their various usage patterns (mainly UPI, Mobile Wallets, Card Payments), and to investigate how the above-mentioned factors affect their spending and saving behaviour. The research methodology they used was descriptive and analytical and was based on both primary and secondary data. However, the primary data was gathered by using structured questionnaires, while the secondary data was obtained from RBI reports and government publications, plus scholarly articles. The research findings are that digital payment systems create convenience and transparency and result in cashless transaction use; as well as change an individual's spending and saving habits. However, issues arise from gaps in digital literacy, security concerns, and the varying adoption rate.
DOI: http://doi.org/10.5281/zenodo.20269083
