Study of Growing Popularity of Payment Apps in India

Abstract

The use of E-payment system is increasing at a very fast rate. Day by day the numbers of users are moving towards online payment systems instead of using plastic money like cash etc. Making online transactions is very convenient and time saving. People can pay online not only for shopping but also for different purposes as many different apps are available that offers many services to the users. This paper studies the reasons of increasing popularity and use of payment apps by the people of India for making payments online and the continuous growth of these payment apps in India. The authors of this paper analysed three most popular payment Apps used in India namely, Google Pay, PhonePe and Paytm.