DIGITAL TRANSFORMATION AND EMERGENCE OF FINTECH (ISBN : 978-93-49468-49-8)

Digital Payment System: Impact on Consumer Buying Behavior from Indian Perspectives and Emerging trends in Digital Payment System

Author: Dr. Reena & Dr. Pooja Pawriya

The rapid development of electronic payment systems has changed India's economic situation. With the innovation of mobile wallets, the UPI (Unified Payments Interface), online banking, and even QR-based payment, their speedy, safe and convenient payment systems have made them the preferred choice for people. The chapter under analysis will go over potential effects of the digital payment platform on Indian consumers' buying habits. It assesses how consumer faith, convenience, frequency of purchases and level of satisfaction are affected by digital payments system. The result demonstrates that the adoption of digital payments has an important influence on customers' decisions to purchase products, especially in the young and urban groups. India's economic position has changed due to the vast development of electronic payment systems. With the introduction of mobile wallets, online banking, the Unified Payments Interface (UPI), and even QR-based payments, their capability to offer quick, secure and simple payment choices has made them the go-to option for clients. The possible effect of digital payment systems on the buying behaviors of Indian people will be discussed in the examined chapter. It evaluates the impact of digital payments system on consumer willingness, happiness, frequency of transactions, convenience, and confidence.

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