Volume 1 Issue 4 | 2024 | View PDF
Paper Id:IJMSM-V1I4P105
doi: 10.71141/30485037/V1I4P105
The Digital Revolution in Transactions: A New Era of Payment Ecosystems
Shekhar Kumar Jha
Citation:
Shekhar Kumar Jha, "The Digital Revolution in Transactions: A New Era of Payment Ecosystems" International Journal of Multidisciplinary on Science and Management, Vol. 1, No. 4, pp. 28-30, 2024.
Abstract:
It is the Internet revolution that has changed money flows and made a new payment world. Here in this article, we will understand payments from cash and cards to mobile wallets, e-commerce, crypto... We are going to see the Digital Payment Market like UPI, Yape Payment system and how it revolutionized payment. We’ll cover Regulation, International market entry and Central Bank Digital Currency impact. And what that all implies for security, customer experience and new business models.
Keywords:
Payment, Cryptocurrencies, UPI, PaaS, Account-to-Account, CBDC.
References:
1. Jose Aurazo, and Farid Gasmi, “Digital payment systems in emerging economies: Lessons from Kenya,
India, Brazil, and Peru,” Information Economics and Policy, vol. 69, 2024.
2. Berkeley Editorial, 7 Innovations in Payments Technology That’ll Shape 2024 and Beyond, Berkeley,
2024. Online: https://www.berkeleypayment.com/blog/innovation-in-payments-technology
3. Payments 2025 & Beyond, PWC, 2021. Online: https://www.pwc.com/gx/en/industries/financialservices/publications/financial-services-in-2025/payments-in-2025.html
4. The Future of the Payments Industry: How Managing Risk Can Drive Growth, McKinsey & Company,
2024. Online: https://www.mckinsey.com/capabilities/risk-and-resilience/our-insights/the-futureof-the-payments-industry-how-managing-risk-can-drive-growth
5. Philip Bruno and Uzayr Jeenah, Global payments in 2024: Simpler Interfaces, Complex Reality,
McKinsey & Company, 2024. Online: https://www.mckinsey.com/industries/financial-services/ourinsights/global-payments-in-2024-simpler-interfaces-complex-reality
6. Jayaprada Putrevu, and Charilaos Mertzanis, “The Adoption of Digital Payments in Emerging
Economies: Challenges and Policy Responses,” Digital Policy, Regulation and Governance, vol. 26, no.
5, pp.476-500, 2024.