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Abstract
An e-payment system is a way of making transactions or paying for goods and services through an electronic medium, without the use of checks or cash. It’s also called an electronic payment system or online payment system. The electronic payment system has grown increasingly over the last decades due to the growing spread of internet-based banking and shopping. As the world advances more with technology development, we can see the rise of electronic payment systems and payment processing devices. As this increase, improve and provide ever more secure online payment transactions the percentage of check and cash transactions will decrease. The present study intends to find out the growth rate of various modes of electronic payments after demonetization. The present study is descriptive in nature. The study is based on secondary data that have been collected from the official website of Reserve Bank of India. The data has been collected from Nov 2016 to Feb 2018 i.e. the time period after the demonetization of currency by the Government of India. In the overall conclusion it can be said that the transactions in volume has increased much in case of UPI and USSD.