Paper Key : IRJ************433
Author: Sachin
Date Published: 24 Oct 2023
Abstract
In recent years, we have witnessed the rapid developments in the area of financial technology in India. Rapid developments in financial technology have improved the level of Financial Literacy and Financial Inclusion rate in India. The COVID-19 outbreak has caused the decline of cash payments and the increase of contactless payments in the India; mobile payments ensured peoples health and helped in slow down the spread of the virus. In India, Unified Payments Interface (UPI) was launched by National Payments Corporation of India (NPCI) on 11 April 2016. It is used on Mobile devices to transfer funds between two bank Accounts instantly. Only the mobile number is required to be registered with the bank for doing any online transaction which is regulated by Reserve Bank of India. It is considered as one of the most successful payment systems in the world, in terms of number of user adoption, volume of transactions and the number of transactions. This paper investigates the factors which play an important role in Fintech adoption in India.
DOI LINK : 10.56726/IRJMETS45461 https://www.doi.org/10.56726/IRJMETS45461