A Theoretical Analysis of Digital Payments Impact on MSME

Abstract

Digital Payments is spreading fast in India, making the country more developed technologically. Micro small medium enterprises (MSMEs) play an important role in a country’s economy, so managers must try to run their business according to the current concept of digital payments. People have different views and experiences with Digital Payments. Digital payments campaign helped in reduction of costs,boost in inbound traffic and better ranking in search engines. Digital describes electronic technology, which generates stores and process data. Payments which are then issued digitally using technologies like virtual cards further restrict payments to only transactions approved in advance. Digitalization means that it is necessary that the MSME is aware of digitalization as being important and having good effects. This paper focuses on exploring how digital media is used for payments, and for the expansion of business, particularly with MSME