An Efficacy of the Digital Payment Systems in India

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Analysis highlights the growth of digital transactions in India, indicating UPI's pivotal role and future enhancements in infrastructure.

Digital transactions in India surged to 2,221.9 crore between FY 2021-2023, showcasing the rapid adoption of digital payment systems.
The value of digital transactions increased by 17%, with UPI emerging as the leading payment method in the country.
Secondary web-based resources were reviewed, including official websites and IT outlets, to assess the effectiveness of payment options.
Significant government initiatives have fueled the rise of UPI, aiming to enhance security and accessibility across all demographic segments.

Jayaseelan et al. (2025) studied this question.

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