Authors: Sweta Pandey, Meentu Grover
Abstract: Digital payment systems have transformed the way people conduct financial transactions in their daily lives. The rapid growth of internet technology, smartphones, and financial technology has increased the adoption of digital payments across the world. In India, digital payment methods such as Unified Payments Interface (UPI), mobile wallets, internet banking, debit cards, and credit cards have become highly popular due to convenience, speed, and security. This paper examines the impact of digital payments on daily life and analyses how cashless transactions have influenced consumer behaviour, business activities, and economic growth. The study highlights the advantages of digital payments, including faster transactions, financial inclusion, transparency, reduced dependency on cash, and improved online shopping experiences. It also discusses challenges such as cyber fraud, privacy concerns, internet dependency, and lack of digital literacy among certain sections of society. The paper concludes that digital payments have significantly improved the efficiency and convenience of daily financial activities and will continue to play an important role in the future digital economy.
