7 Digital Payment System Commonly used in India.

Digital Payment System in India

There were several digital payment systems in India. However, the landscape of digital payments is continually evolving, and new systems may have emerged since then. Here are seven prominent digital payment systems that were in use at that time. Watch more at

Unified Payments Interface (UPI): UPI is a real-time payment system developed by the National Payments Corporation of India (NPCI). It allows users to transfer money instantly between bank accounts using a mobile app. UPI has gained widespread popularity and is used for various transactions, including person-to-person transfers, bill payments, and online shopping.
Mobile Wallets: Mobile wallet apps like Paytm, Google Pay, PhonePe, and Amazon Pay have gained significant traction in India. These apps allow users to store money in a digital wallet and make payments for various services, including mobile recharge, utility bills, and e-commerce purchases.
Aadhaar Enabled Payment System (AEPS): AEPS enables Aadhaar cardholders to make financial transactions using their Aadhaar number and fingerprint authentication. It is especially useful for rural and remote areas where traditional banking infrastructure is limited.
Bharat Bill Payment System (BBPS): BBPS is a centralized system for payment of bills and utility services, including electricity, water, gas, and more. It offers a one-stop platform for consumers to pay all their bills digitally.
Immediate Payment Service (IMPS): IMPS is an interbank electronic funds transfer system in India. It allows users to transfer funds instantly between different banks through mobile phones or internet banking.
National Electronic Funds Transfer (NEFT): NEFT is a popular electronic funds transfer system that facilitates one-to-one fund transfers. It operates on a deferred net settlement (DNS) basis, with transactions settled in batches.
RuPay Card: RuPay is India's own domestic card payment network, similar to MasterCard and Visa. It offers debit and credit cards that can be used for online and offline transactions, both within India and internationally.