Literature Review on Adoption of Digital Payment System

Abstract

Purpose: The purpose of the study is to review the existing literature on digital payment system. The study attempts to access
the progress made in terms of adoption of Digital Payment System. And also discusses the factors which impact the attitude of
consumers for the adoption of digital payment system.
Design/ Methodology/ Approach: The paper reviews the literature on Digital payment system. Both conceptual and empirical
studies have been reviewed.
Findings: Digitization of the economy has become extremely important and unavoidable to keep pace with the fast-growing
cashless global economy. In accordance with the other developed and developing nations, India is also trying to shift its
preference of payments from cash driven to cashless economy. In digital payments system, consumers pay using instruments
other than cash such as Debit/Credit cards, Digital wallets, Net banking, and Mobile payment Applications etc.