Digital payment is a way of payment which is made through digital modes. In digital payments, payer and payee both use digital modes to send and receive money. It is also called electronic payment. No hard cash is involved in digital payments. All the transactions in digital payments are completed online. Smartphone has emerged as a preferred mode for carrying out digital payments since it enables communication anywhere & anytime.

Take a glance at the most preferred mode of digital payment transactions in India:

• Mobile devices are ranked as the most preferred digital payment transaction mode with a rate of 48%.
• Swipe the cards at a point of sale is ranked as the second most preferred digital payment mode with a rate of 38%.
• Laptop/Desktop comes at next as a preferred mode of digital payment transactions with a rate of 14%.

A Graph Shows The Most Preferred Mode of Digital Payment Transactions, 2017.