Impact of Covid-19 on Digital Payment System in Service Industry

Keywords: Digital Payments, COVID-19, Service Industry, Retailing, World Health Organisation

Abstract

COVID 19, also referred to as Coronavirus 19, has declared an epidemic worldwide and closed all businesses through the implementation of a worldwide blockade by governments of all countries, leading to the protection of the health and lives of the many. it’s a significant health disease. The present research aims to research the concept of digital payments and therefore the impact of COVID 19 on digital payment services in India, especially in hospitality. Secondary research includes some perspectives or insights from other researchers who have contributed knowledge within the relevant field. Digital payment is an emerging concept that deals with currency transactions between two or more people using an online or digital platform instead of having to exchange physical money. it is a platform where no physical interaction is required to pay or receive an amount to be done via mobile device or computer worldwide 24 hours a day. The most important goal of creating digital payments is to ensure fair recording of all monetary transactions and to protect the public from having their hard-earned money stolen.

Published
2024-01-01
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