Impact of Digitization of Payment System on Rural Indian Sector

Digital payment methods are often easy to make, more convenient and provide customers the flexibility to make payments from anywhere and at anytime. These are a good alternative to traditional methods of payment and speedup up transaction cycles. Post demonetization, people slowly started embracing digital payments and even small time merchants and shop owners started accepting payments through the digital mode. The objective of this research paper is to study the positive impact that Digitization of payment system in Indian economy will have on the development of Rural Indian Sector.