1. How Digital Payment is Changing our Lives
The Institute of Cost Accountants of India
Chandigarh – Panchkula Chapter
9th June, 2018

2. What is Digital Payment ?
Payments using electronic means without involving any physical cash
Participants:
Payment Service Operators : Banks, Wallets, NPCI, Gateways, Card Companies
Sender : Customer
Receiver : Merchant or Shopkeeper
Regulator : RBI

3. Why Digital Payments ??? For Individual Most Convenient Secure
Cost Effective
For Economy
Increased Revenues and Savings
Reduction of Black money problem
Increases Transparency
Promotes Inclusive Growth

4. How Digital Payments is Changing Lives ?
Physical Wallets getting replaced by Digital Wallets
No Ques for payment of Utility Bills
Emergency Payments
No Banking Ques
Increased Savings and Income
Anytime Access to Account
Ask a Farmer or Fruit Cultivator

5. Simple Digital Payment Cycle
Example of Online Shopping

6. IMPS
Digital Payment Modes

7. IMPS – Immediate Payment System
Only system across the world performing at Level 5 of Faster Payments Innovation Index (FPII) beating UK, US & Japan
The most convenient and secure
Managed by National Payment Corporation of India (NPCI)
Payment Modes includes: UPI, USSD, AEPS
Also Integrated with Mobile Banking apps
No need to remember account number or IFSC

9. Q & A
CA. Pankaj Gupta FCA, MBA (Finance), M. Phil. (Management), NCFM Partner Vigyan Arora & Co. Chartered Accountants |