Abstract            Volume:4  Issue-12  Year-2016         Original Research Articles

Online ISSN : 2347 - 3215 Issues : 12 per year Publisher : Excellent Publishers Email : editorijcret@gmail.com

Digitalization means using digital technology as a part of everyday life. Digitization of payments helps a person to transfer money from his bank account to the payees for his day to day transactions. Modes of digital payments include a number of instruments under one umbrella which can be used as and when required. India is stepping in to the leadership role in the arena of internet age and is anticipating a growth in such a way people have more access to mobile than that of electricity connections at home. Thus India is moving forward to the aim of “Cash less Society” which means paper currency in circulation will reduce to minimal and all payments are made through digital mechanism. The present study represents an added contribution to the currently on going researches that are being done to decide whether digitization is important for the nation in the current economic situation. The study reaffirms that the importance of mobile penetration supported by the government initiatives constitute the most important drivers to enable people to move towards digital payment system.

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