Trends and Challenges in Adoption of E-Payment Services in India

Electronic payment services are vastly growing market around the world due to its convenience and quickness. After demonetization in India during 2016, the proliferation payment systems reached the peak with in-house service providers and global operators explore here. The proposed analysis work focus on creating conscious about different factors related to e-Payment Systems with its cons, objections and security features. The historical data and referent have been taken out in order to acquire essential data about electronic payments systems. This study on outlook of e-payment systems was carried out following search of several research directions on digital payment services. As there are multiple service providers, the digital vision will be fully utilized only by raising awareness among people and society with the huge popularity of internet and technology. To realize their success parameters, it is vital to examine the strategies of general consumers, cyber merchants, network managers, banks and other public sector organizations. Disappointed experiences may lead to establishment of a new payment system. Our results highlight straight forward explanations of the success factors of electronic payment services in India based on variety of features. The study also reveals the popularity of e-payment services in India on various criteria.