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Effects of Demonetization on Digital Payment Systems in India


Tanya Sanatani


Vol. 17  No. 11  pp. 136-140


Objectives: This paper looks at the impact that Demonetization has had on the various payment methods in India. Specifically, it aims to see how the various digital platforms have evolved with the advent of demonetization Method: Various digital platforms of payment like payment apps, net banking, etc were studied extensively. Their evolution before and after demonetization is looked at, and compared against one another. Findings: De-monetization has given a big boost to the digital payment platforms in India. They are fast, reliable, easy to learn and navigate. It is able to fulfil the requirement specifications. Which platform an individual decides to choose is dependent on many factors. While an extremely handy and useful software component, it is not without its share of faults and glitches that needs to be resolved soon. Security is still a major concern regarding these platforms. Applications: These payment portals help to make payments more convenient and easy to use. One does not have to go to the bank to do monetary transactions.


De-monetization, digital platforms in India, pros and cons of the digital payment system