In this ppt you can earn full knowledge of DIGITAL PAYMENT likes types of digital payments, advantage and disadvantage of digital payments etc.

1. Digital Payment System:
A Study on Indian Perspective Name- Snehadri Dey
Roll No- 123221128039
Department- MBA
Semester- 1st
Subject Code- MB-108

2. INTRODUCTION
• Digital payment is a way of payment which is made through digital modes.
• In digital payments, sender and receiver both use digital modes to send and receive
money.
• It is also called electronic payment. No hard cash is involved in the digital payments.
• All the transactions in digital payments are completed through online.
• It is an instant and convenient way to make payments.

3. Journey of Digital Payment
PAYMENT MODE YEAR ISSUED AUTHORITY PIONEER
CREDIT CARD 1981 VISA ANDHRA BANK
ATM 1987 BANK OF INDIA HONGKONG AND
SHANGHAI BANKING
CORPORATION
INTERNET BANKING 1996 MINISTRY OF
INFORMATION
TECHNOLOGY
ICICI BANK
MOBILE BANKING 2002 TELECOM
REGULATORY
AUTHORITY OF
INDIA
MOBILE PHONE
UPI 2016 NATIONAL PAYMENT
CORPORATION OF
INDIA
MOBILE PHONE

4. The main reason of increase in Digital Payments
• Demonetization: On 8 November 2016, the Government of India
announced the demonetization of all ₹500 and ₹1,000 banknotes of the
Mahatma Gandhi Series.
It also announced the issuance of new ₹500 and ₹2,000 banknotes in
exchange for the demonetized banknotes.
• Improved security features: When you carry cash, there’s a high
probability of it being stolen. Even withdrawing cash from an ATM at
night especially can be worrying.
• Offers, Rewards, Cashbacks and Discounts: These are some really impactful factors that are responsible for
consumers preferring digital payments as opposed to other payment methods.

5. Types of Digital Payment

6. UPI
Unified Payments Interface (UPI) is a system that
powers multiple bank accounts into a single mobile
application (of any participating bank), merging several
banking features, seamless fund routing & merchant
payments into one hood. Each Bank provides its own
UPI App for Android, Windows and iOS mobile
platform(s).

7. AEPS
Aadhaar Enabled Payment System is a bank led
model which allows online interoperable financial
transaction at PoS (Point of Sale / Micro ATM)
through the Business Correspondent (BC)/Bank
Mitra of any bank using the Aadhaar authentication.

8. Unstructured Supplementary Service Data
The innovative payment service *99# works on Unstructured
Supplementary Service Data (USSD) channel. This service allows mobile
banking transactions using basic feature mobile phone, there is no need to
have mobile internet data facility for using USSD based mobile banking.

9. Banking cards
These cards provide 2 factor authentication for secure payments e.g.
secure PIN and OTP. RuPay, Visa, MasterCard are some of the example
of card payment systems. Payment cards give people the power to
purchase items in stores, on the Internet, through mail-order catalogues
and over the telephone. They save both customers and merchants’ time
and money, and thus enable them for ease of transaction.

10. E-wallet
It is a way to carry cash in digital format. You can link your credit
card or debit card information in mobile device to mobile wallet
application or you can transfer money online to mobile wallet.
Instead of using your physical plastic card to make purchases,
you can pay with your smartphone, tablet, or smart watch. An
individual's account is required to be linked to the digital
wallet to load money in it. Most banks have their e-wallets and
some private companies. e.g. Paytm, Freecharge, Mobikwik,
Airtel Money etc.

11. Growth of Digital Payment in India
In 2019, I don't think that anybody is there who don't know
about the digital payment systems. As everybody nowadays
prefers to be cashless and there are various new techniques that
are become popular in 2019 like google pay, phone pay, BHIM
UPI, Paytm and many more.
Our Prime minister Narendra Modi has taken a very crucial step
and help in the growth of payment industry as well. This will
increase the number of digital payment channels in the country
of India.

12. • Time saver
• 24*7 Availabilities
• Safe & Secure
• Use of Wallet for discount
• Low transaction cost
• Track transaction history
Advantages of Digital
Payments

13. • Dependence on Internet
• Technical Problem
• Limitation on amount and time
Disadvantages of Digital Payments

14. THANK YOU