UPI PAYMENT APPS – A WAY TO CASHLESS ECONOMY

Abstract

Cashless Economy is the system where all the monetary payments are done by using digital means like internet banking, debit, credit cards, e-wallets instead of hard cash. India was introduced to cashless economy in a pronounced way in 2016. To attain the cashless economy, the government of India and RBI jointly decided to introduce UPI based payment apps. Hence UPI payment apps is a way to cashless Economy. UPI and UPI 2.0 apps and their progress say their increasing cashless payments.