Some methods have been in use for more than a decade, some have become popular recently, and others are relatively new. Click To Tweet Digital Payment Methods in IndiaĪfter the launch of Cashless India, we currently have ten methods of digital payment available in India. Similarly, if you purchase something from your local Kirana store and choose to pay via UPI instead of handing over cash, that also is a digital payment.Īccording to a report in ET, In India, 66.6 billion transactions worth $270.7 billion are expected to shift from cash to cards and digital payments by 2023. For example, if you buy something from Amazon and pay for it via UPI, it qualifies as a digital payment. Please note that digital payments can take place on the internet as well as on physical premises. There are various types and methods of digital payments. As part of the ‘ Digital India ’ campaign, the government has an aim to create a ‘digitally empowered’ economy that is ‘ Faceless, Paperless, Cashless ’. The Government of India has been undertaking several measures to promote and encourage digital payments in the country. This means that both parties, the payer and the payee, use electronic mediums to exchange money.
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