AN ANALYTICAL STUDY TO ASSESS THE INFLUENCE OF UPI AND PLASTIC MONEY ON THE ONLINE DIGITAL PAYMENT SYSTEM IN INDIA

  • Unique Paper ID: 166849
  • Volume: 11
  • Issue: 2
  • PageNo: 2095-2099
  • Abstract:
  • The demonetization of the Rs. 500 and Rs. 1000 bills were announced by India's Prime Minister, Shree Narendra Modi, on November 8, 2016. The provision of currency notes over the whole of India was not feasible at that time. UPI and plastic money, such as credit cards and debit cards, are the sources of payment that consumers utilize. This study paper's objective is to assess the influence that the Unified Payments Interface (UPI) and plastic money have had on the various online payment systems in India. The influence of Unified Payments Interface (UPI) and plastic money on the digital payment system in India is the subject of this research study. A variety of sources, including websites, periodicals, and journals, are used by researchers in order to obtain secondary data. UPI and plastic money both have both beneficial and bad effects on digital payment, according to the findings of this article. In India, the use of UPI is greater.

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