IMPACT OF COVID-19

ON DIGITAL
PAYMENTS

GROUP 3:

Abhishek Dhruv (03)

Karan Parmar (24)
Pranav Pandey (33)
 OBJECTIVES
● To find out the impact of Covid-19 on Digital
payments.

● To analyze the mode of payment used by the

respondents before lockdown and during lockdown.

● To study which mode of payment the respondents

will prefer after Covid
 LITERATURE REVIEW
❏ In the articles we studied that digital payments is a necessity in the future so people must
change their habits and accept the digital payments as the cashless transactions are not only
easy but also less time consuming when compared to a physical transaction .
❏ As the internet penetration in the country is increasing the digital payments will see a boost
in the coming years.
❏ The transition from a cash based economy to a cashless economy is not easy but the
government and the private companies are taking efforts to educate customers about the
digital payments as lack of education and fear of losing money are the reasons why people
refrain from using digital payments system.
❏ The digital payments usage increased exponentially after demonetization .
 QUESTIONNAIR
METHODOLOGY
Sent to 100 respondents
E

SOURCE ● Circulated through whatsapp

● Target audience: 18 to 36 and
above

OUTPUT

MULTI-ATTRIBUTE Attribute as Differentiator = Beliefs (1 – 10 Scale) x Weight (1- 10 Scale)

MODEL
DATA
 DATA

MULTI ATTRIBUTE MODEL

 FINDINGS
● Cash usage dropped down from 68% (pre-Covid) to 7% (during Covid).
● 86% people would like to stick to digital mode of payment even after covid
● 190% increase in Digital payment and 89.7% decrease in cash during covid.
● 47% females and 53% males with respondents majorly belonging to 18-25 years of age.
● More than 40% of the respondents were Post Graduates and 26% were Working
Professionals
● UPI as a mode of digital payment saw a rise in usage from 40% before Covid-19 to 85%
during Covid-19