A STUDY ON ONLINE PAYMENT APPLICATIONS IN INDIA WITH REFERENCE TO AMAZON PAY

Abstract

This research paper is all about the online payment application in India with reference to Amazon Pay. It entails the impact and importance of online payment applications on consumers. This paper show casts advantages and disadvantages of Amazon pay. The study was conducted in the Mumbai region and the survey was collected through a structured questionnaire. A descriptive study was conducted through which 111 responses were collected. The paper also shows the steps taken by RBI and the Government to encourage cashless society in India i.e. the government introduced BHIM and UPI. Cashless transactions like transactions through e-wallets, have various benefits like reduction in black money, reduction in crime rates, helps in improving economic growth of the country, helps in fighting against terrorism, attract more foreign investors, but this also comes with various disadvantages like the major issue at the moment is the security of the transactions and the services offered in these online payment applications. This paper studies the impact of online payment applications on consumers whether consumers are satisfied using online payment applications or not.