“Impact of Digital Payments on Consumption and Expense in India”

Abstract: The rapid advancement of digital technology has significantly transformed the landscape of financial transactions. This study delves into the adoption and usage of digital payment systems in India, especially post the COVID-19 pandemic. It analyzes consumer preferences, factors influencing adoption, and the challenges faced by users and businesses alike. With a focus on the transition from cash to cashless transactions, the study highlights trends, awareness levels, and the overall impact on the economy. The findings are supported by primary and secondary data, offering a comprehensive view of the digital payment ecosystem. Key Words: Digital Payments, UPI, Cashless Economy, Online Transactions, Financial Technology, Consumer Behavior, Payment Security, India