Impact Of Digital Payments On Retailers’ Across Tamil Nadu

Abstract

Indian Economy Is Moving Towards Digital Revolution, A Milestone In Payment Mechanism. The Trends During Covid-19 Drive The Impact Of Digital Payments Are Digital India, Favourable Regulatory Environment, Emergence Of Next Generation Payment Service Providers And Enhanced Customer Experience. In This Paper The Researcher Indicates That Various Digital Payments Like Imps, Neft, Mobile Wallets Etc. Through In Tamil Nadu And Its Impact. In Recent Years, Digital Payment Having Significant Growth In India Among Retail Traders. Digital Payment Volume Declines Are Seen In Airlines, Tourism, Hospitality, Hotels, Entertainment, E-Commerce (Non-Essentials) And Restaurants, Among Other Sectors. However, There Are Also A Various Sectors That Are Seen An Increase In Digital Payments During Covid-19 Lockdown. These Include (Retail Trading) Online Grocery Stores, Online Pharmacies, Ott Players (Telecom And Media), Edtechs, Online Gaming, Recharges And Utility/Bill Payments Have Played A Significant Role In Enabling The Rural Indian Economy To Move Towards Digital Payment In A Macro Level. According To A Recent Report, The Indian Digital Payment Industry Is Expected To Reach $1 Trillion By 2023. A Number Of Policy Initiatives Have Been Taken Over The Last Six Years To Discourage Cash Exchange And Promote Digital Payments. Based On The Impacts Of Digital Payments Adoption Among Retailers Across Tamil Nadu, Insights From Our Work With The Respondents We Explore The Impacts Of The Study. The Study Highlights The Ease Of Using The Digital Payments Among The Respondent Retailers.