INTERNATIONAL JOURNAL FOR INNOVATIVE RESEARCH IN MULTIDISCIPLINARY FIELD

Abstract: The digital transactions are increased across the country due to rapid advancement of technology has significantly transformed India’s payment landscape. The main objectives are to study the growth trends of digital payment systems and to evaluate the contribution of UPI, IMPS, and RuPay in enhancing retail transactions. This study focuses on analyzing the impact of digital payments on retail business growth in India using secondary data obtained from Reserve Bank of India (RBI) and National Payments Corporation of India (NPCI). Data collected from official reports and statistical handbooks of RBI & NPCI are analyzed to identify patterns and growth performance over recent years. The findings reveal that digital payment platforms, particularly UPI, have emerged as a major driver of retail transaction growth, promoting financial inclusion and transparency in the economy. The study concludes that government initiatives and technological innovations have faster the adoption of cashless payments, contributing to the overall modernization of India’s retail sector.