Thus the present paper focuses to understand the journey of digital payments and its future in India. Digital payments refers to purchase of goods or services online using different devices such as computer, smart phones, and other electronic devices. ![]() This is also known as “e- Wallet”, means transfer of money through electric means or different online service providers. As this move the people have entered in new era of Digital payments. The businessmen did not use card readers to accept digital payments, 85 % of the people were getting their payments in cash, and more than 50 % people were not having bank accounts. More than 95 % of the transactions are accounted through cash. Indian economy is basically depending more on cash based transactions. With less than 50 % people depend on limited banking usage and other means of bank transactions. And it all works with iPhone or Apple Watch, so you can take less with you but always bring more. It’s where you securely keep your credit and debit cards, driver’s license or state ID, transit cards, event tickets, keys, and more all in one place. Indian government was focusing on cash less economy by reducing cash transactions to eradicate black money. The Wallet app lives right on your iPhone. During that period more than 50 % people were not having bank accounts. ![]() People were asked to exchange their old currencies with the banks, leading to huge queues. Narendra Modi announced demonetisation of two high - value currency notes in the evening on 8 th November, 2016 which creates chaos in the minds of Indian public.
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