E-Payment: An overview and barriers to its adoption

Abstract

Electronic payment is a type of payment in which transaction is carried out without physically exchanging cash or cheque of any sort. Every country today is moving towards the digital era so is India. India is trying hard to improve its economy by curbing black money and making it a cashless economy. Still India being a developing country lacks the proper infrastructure to make its e-payment platform secure and safe for the user. E-payment user is increasing because of its convenience but still the increase is not satisfactory. There is not proper capturization of the entire Indian market place by e-payments. The purpose of this research is to explain the different modes of e-payments and barriers to the use of e-payments.