Abstract : The financial stability of each country rests heavily on its payment system, which also facilitates international trade. The use of currency is being phased out in India. To combat money laundering and lessen the role currency plays in the Indian economy, the government in New Delhi started the Digital India Campaign. In an effort to move toward a cashless India, there has been a flurry of innovation in the realm of digital payment systems. The current state of electronic payment systems demonstrates a dramatic improvement in the efficiency and security of monetary transactions. The purpose of this study was to catalog the problems plaguing e-payment systems and to propose ways to fix them. This research is the first step in what will hopefully be a thorough assessment of the many studies conducted on the topic of electronic payment systems and their many components. Recent studies were reviewed to have a deeper understanding of the many different electronic payment options now available.
Cite : Sharma, S., Khan, S., Vashishtha, D., & Yadav, V. K. (2023). Present Scenario of Electronic Payment System: Pros and Cons (1st ed., pp. 142-154). Noble Science Press. https://doi.org/10.52458/9789388996969.nsp2023.eb.ch-17
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