How does digital payment grow so quickly in an area with such stark inequality?

The DIGITAL PAYMENT new is a system in itself in INDIA. UPI(unified payment interface) has not only changed the way to pay, it must be said, is now playing an important role in the Indian economy. In this article, we should find out how DIGITAL PAYMENT got its footing in INDIA and know just what the challenges are in its way.

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Introduction to UPI : UPI was launched in April 2016. UPI enables users of mobile phones to send and receive money. Previously money had to be sent in India using post offices, but now it can be sent by mobile phone. The most outstanding feature of UPI is that if you know your phone number,

 then your UPI ID immediately becomes clear. In this way, it is very easy to transfer money. Popularity of DIGITAL PAYMENT The popularity of DIGITAL PAYMENT is increasing rapidly in INDIA.

 Nowadays India carries the UPI in the world. By 2026-27 it is estimated that in India, one billion UPI transactions will be done every day. Notably, the poor of India now have a large number of bank accounts because they hold a mobile number. Moreover, Experience with DIGITAL PAYMENT in Jharkhand lodai village, West Singh bhum Jharkhand, is an area dominated by tribal’s. People here as well are making use of the convenience of DIGITAL PAYMENT.

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Local tribal John Bandia has opened a center where people can make DIGITAL PAYMENT in exchange for cash.Here people do cash transactions using QR code. John says that when people first did not know about DIGITAL PAYMENT, but now gradually they are starting to understand the:Getting BENEFIT by Using DIGITAL PAYMENT• Convenience: Digital payment has made all the transactions very easy.

• Safety: With online payment, people’s money is safer now than ever before.

• Time Savings: There are no trips back-and-forth to the bank for your cheque anymore, which means some more you get work done on time and enjoy life!

DIGITAL PAYMENTS FOR WOMEN

Many women work in the unorganized sector in India. Priyanka from Assam, who is here in Delhi, started off selling tea leaves on the street. Now she is doing her business via orders placed online.

She says that if she can live with the digital payment system today, it will mean a lot of changes in her lifestyle. She won’t have even once to step foot outside just for some bank paper work; instead she’ll be able to concentrate entirely on her work!

The future and gender inequality

Although digital payment has brought many benefits, many challenges still remain. In India today, there are still many people who do not have digital education.

According to NFHS’s (National Family Health Survey) data report, only 33% of Indian women had ever had the opportunity to surf the Internet–but were even more likely to fall victim to financial fraud.

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Looking forward

Many steps are being taken to develop DIGITAL PAYMENT in India. Most experts believe that by use of modern information technology, we can link up even more people.

The most important thing for India is that everyone in the country has access to the DIGITAL PAYMENT system. This means we have to further broaden our network on the internet, which is now so widespread.

Conclusion

Through DIGITAL PAYMENTS India has reached a new point in its development. However there are still many difficulties left and we must all strive more to move forward towards a digital India.

DIGITAL PAYMENTS represents not merely a shift in technology but also a way to bring profound change in society-Its coming time we hope that this system becomes even better and available to all everyone.

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