In the past few years, economic transactions are carried out through electronic or online or cashless means all over in India. As a result of increased digital means of payment has brought down usage of cash transactions in the economy. Digital transactions have the features of speed, less cost, and comfort. A well functioning digital payment system has much relevance on overall economic activity, monetary policy, and financial stability of a country. In the present pandemic situations when it is beneficial for everyone to avoid the physical contact, mingling with others and visiting physical brick and mortar platform of stores, shopping malls. The application of digital payment system has increased a lot and its importance has been increases by leaps and bounds too.
This study tries to verify the effects of digital payment system and its impact on saving of individual and to know the point of view of people of using a digital payment system and its impact on their money saving.
The study is conducted by selecting 200 samples on the basis of gender, age, occupation, qualification, annual income, to know about digital payment, using of digital payment app, benefits & purpose of using digital payment app, time saving and impact on money saving during Covid- 19.