Digital Payment

PRESENTED BY
GROUP-4
TO
Dr. Jitendra Nenavani
History Of Payment

● Barter
● Coins
● Paper money & banknote
● Bills of exchange & check
● Cards
● Digital payment
● Cryptocurrencies
Introduction Of Digital Payment System

● Every instrument other than cash and which does not rely on paper for its
transaction.
● Simply in other words, transaction that mainly use electronic medium are
considered as digital.
● Faceless, paperless and cashless
● Shri narendra modi launched digital india campaign on second july of 2015.
Volume Of The Transactions
Types of Digital Payment Methods in India:-
Banking Cards & Bank prepaid cards
Unstructured Supplementary Service Data
Aadhaar Enabled Payment System
Unified Payments Interface & Mobile Wallets
Point Of Sale
Internet Banking & Mobile banking
Micro ATMs
What is tokenization ?
Benefits Of Digital Payments

➔ Faster, easier, more convenient

➔ Economical and less transaction fee
➔ Waivers, discounts and cashbacks
➔ Digital record of transactions
➔ One stop solution for paying bills
➔ Helps keep black money under control
Drawbacks Of Digital Payments

❖ Inconvenient for offline sale

❖ Reliance on telecommunication infrastructure
❖ Harder to track spending
❖ Increased Business Cost
❖ Risk of Being Hacked
THANK YOU