According to the literature analysed from many articles, digital payment is significantly more

convenient than traditional paper currency. This way of payment is available 24 hours a day,
seven days a week from anywhere. Any individual with an internet connection can make such
a payment transaction, and they do not need to stand in line or visit a bank. As we all know
how valuable time is in everyone's life, the most crucial role played by the digital payment
system is that it saves a lot of time and is far safer than dealing with cash. If we look at this
type of payment, it allows us to pay the exact amount to the person whom we are paying.
Sometimes we are short of change as well as the person whom we are supposed to pay, so
maybe in the long run if that change is not exchanged, neither of the people benefits, but if
digital payment is used, nothing of the sort will happen. So the papers evaluated come from
all over the world, and the majority of them are analysed using data gathered from customers,
businessmen, organisations, and so on.
According to the data obtained by the authors, the results have been analysed and evaluated
using several tests. The majority of the study says that consumers are utilising and accepting
digital payment systems because they are more convenient to use, some because they get
rewards or cash back, they save time, and it is a speedier way of transaction, and so on. It has
also been observed that demonetization had a significant impact in a country like India,
where a large portion of the populace began using the online payment system due to a
shortage of paper currency and to save time. As we all know, the government took an
initiative to make India a cashless country, which should result in some positivity after
demonetization, and we can also see during this crisis, i.e. due to Covid-19, we are all making
much use of the online payment system, all e-commerce or all online grocery or other
requirement online commerce are not accepting cash, all are accepting prepaid payment
which can be done through various online payment system.

11.0 Conclusion:

Digital payments, as part of the government of India's effort to create India a digital India, not
only help consumers make payments or receive money, but also perform a number of
services such as informing users of pending payments, presenting various offers, and saving
time. This is one of the key facts as part of the government of India's aim to make India a
digital India, and it is owing to a surge in smartphone sales and the access to high internet at
an accessible price. In the near future, there will be an increase in the use of digital payment
systems, and the digital India objective will undoubtedly be a huge success.

12.0 Limitations and Future Scope:

A constantly evolving scenario, such as the pandemic, forces the research to be limited to the
time period in which it was done. The study's quantitative findings are important for
understanding consumers’ preferences and adoption, but the qualitative method to choosing
the questions addressed opens up new possibilities for future research.

The responses gathered in this survey are solely from residents of metropolitan areas. Given
the surge in the use of digital payments in rural regions, this research would undoubtedly be
fruitful if conducted in the city. Because the bulk of survey responses come from two age
groups, 18-24 and 40 and up, the demography of the survey responses can be increased to a
larger number of middle-aged people

Implications:

This study is a testament to the importance of digital payments and its bright future that is
destined to-be and is now accelerated owing to the pandemic. Considering this rise in the
digital culture and the assumptions proven in the study, companies must begin allotting a
greater budget to their Digital Marketing team and its expenses in order to truly capitalize on
this set-to-succeed wave of digitalization that has captured the 21st century.

More and more retail stores must enable digital payment modes to stay relevant and avoid the
overseeing of the huge market of consumers that prefer digital payments over cash, especially
during these uncertain times of the pandemic and thereafter.A great example of success and
another proof for this research in the domain of marketing is the Cadbury Celebrations ad
campaign for Diwali 2020. It is a beautifully executed ad that introduces the concept of
‘Hyper-Personalised’ marketing. Here, Cadbury creates a database of thousands of small
businesses across India and promotes them in their area of an operation via an in-house
algorithm. They helped many of these small businesses go online and set up their digital
payment systems for them. A masterpiece of a campaign that highlights in this context, the
importance of digital presence during the pandemic. Similarly, several creative strategies can
be produced keeping in mind the conclusions of this study and can be done so in fields
beyond marketing as well. And is ultimately a reassurance and a reminder for everyone to
take parts of their business online and establish digital payment methods to ensure no
potential customer is left behind.