International Journal of Science, Engineering and TechnologyAuthors: Mrs.T.Agila, Mr.M.Santhosh
Abstract: By furnishing secure, speedy, and transparent backups for conventional cash- grounded deals, digital payment systems have fully converted the fiscal ecosystem. They lower sale costs, formalize husbandry, and are essential for advancing fiscal addition, especially in developing nations. Different but coincident models of digital finance relinquishment are instanced by platforms like M- Pesa in Africa, Apple Pay in developed husbandry, and the Unified Payments Interface( UPI) and Paytm in India. In order to assess relinquishment trends, openings, and challenges, this paper synthesizes case studies, literature, and relative analyses. It contends that indeed though digital payments are revolutionizing transnational trade, issues like cybersecurity pitfalls, incompatibilities, and nonsupervisory fragmentation continue to be obstacles. According to the study's findings, combining blockchain technology, artificial intelligence(AI), and central bank digital currencies (CBDCs) will define the unborn line of global payment architectures.
DOI: http://doi.org/10.5281/zenodo.17091824
