Abstract
Digital transactions are taking over most of the transactions in the world and India is no exception. Various studies have proved that efficient payment system will speed up the liquidity flow of an economy. In the era of digitisation, transactions using technology is the best way of being agile and giving better service to consumers. 
 The study is about understanding consumers’ perceptions with respect to online and digital payments and safety of these transactions in this world of connected technologies. It is important for marketers to know the perception of consumers towards cashless methods of transactions and this study helps in this. The study is qualitative in nature and uses literature reviews to analyse the concept of digital transactions. The reviews delve insights into the various challenges and advantages of using digital transactions. The findings reveal that digital transactions are accepted in India and usage is increasing year by year. The study finds the advantages and challenges which is faced by consumers while adopting digital payment.
Highlights
The digitalization of the payment mechanism is a milestone in the era of Faceless, Paperless, and Cashless economy of Digital India
Security, and collaboration from all concerned can hasten the process of digitization {Shallu et al (2019)} Demonetarization has triggered the widespread use of digital transactions; studies show that Unified Payment Interface (UPI) has gained more traction in the long run by popularizing the digital payment methods
This study aims to understand the frequency of Digital payments and factors affecting, or challenges faced by the consumers while using digital payment modes these may affect consumer perception
Summary
The digitalization of the payment mechanism is a milestone in the era of Faceless, Paperless, and Cashless economy of Digital India. The three major areas focused by this program are a) Infrastructure as utility to every citizen b) Governance and services on Demand c) Digital Empowerment of citizen This initiative has considered as a significant intervention in digital financial inclusion which has brought the unbanked population of the country under the mainstream economy. There are various methods of online payments that are being used by the customers like credit or debit cards, Unified payment interface, mobile wallets etc to name a few Acceptance of these digital payments methods depends on consumer perception. The identity theft and other cybercrimes, technologically unprepared www.psychologyandeducation.net population, poor internet connectivity, lack of exposure on digital payments, unwillingness to adopt digital medium for economic transactions etc create a major hinderance for the country to go for a cashless economy. This paper is an attempt to study the perception about online payments and gain insights into the various challenges in this. (using literature study)
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