Paper Title
Digital Payments and Economic Growth in Developing Countries - Investigate how the adoption of digital payment systems is driving economic growth and financial inclusion in developing nations.
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Authors
Ridhima Wahi
Keywords
Abstract
A digital payment, also known as an electronic payment, is the process of transferring funds between two or more payment accounts through the use of a digital device or channel. Payment methods such as credit cards, debit cards, mobile money, and prepaid cards may all be included in this definition. There are three distinct types of digital payments: partially digital, mostly digital, and totally digital. The 1 percentage point rise in the use of digital payments is linked to 0.04 and 0.10 percentage points, respectively, in the growth rates of total factor productivity and GDP per capita (Tombini, 2023). Given that the population claiming to use digital payments ranged from virtually 0% to 100% ( Tombini, 2023), this is a substantial amount. Greater employment reduces the share of informal payments by 0.06 percentage points and makes loans easier (Tobini, 2023). This study will examine how innovations in digital payment systems affect financial inclusion and economic growth in developing countries, evaluate relevant studies, and make recommendations for long-term financial growth through digital payment systems.
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How To Cite (APA)
Ridhima Wahi (July-2024). Digital Payments and Economic Growth in Developing Countries - Investigate how the adoption of digital payment systems is driving economic growth and financial inclusion in developing nations.. INTERNATIONAL JOURNAL OF NOVEL RESEARCH AND DEVELOPMENT, 9(7), a380-a390. https://ijnrd.org/papers/IJNRD2407094.pdf
Issue
Volume 9 Issue 7, July-2024
Pages : a380-a390
Other Publication Details
Paper Reg. ID: IJNRD_224767
Published Paper Id: IJNRD2407094
Downloads: 000121990
Research Area: Commerce
Country: New Delhi , Delhi, India
Published Paper PDF: https://ijnrd.org/papers/IJNRD2407094.pdf
Published Paper URL: https://ijnrd.org/viewpaperforall?paper=IJNRD2407094
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Journal Name: INTERNATIONAL JOURNAL OF NOVEL RESEARCH AND DEVELOPMENT(IJNRD)
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This work is licensed under a Creative Commons Attribution 4.0 International License and The Open Definition
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