Sari shops and street food stalls: How e-payments have taken over India

Indian weddings are known for their extravagance and multiple outfit changes. In the past, cash payments were common at Brij Kishore Agarwal’s sari shop in Old Delhi. Concerns about theft led to a shift towards e-payments, with almost all customers now using digital methods to make purchases. India’s push for digitalization has been ongoing for 15 years, but it was slow to catch on. In 2016, the introduction of the Unified Payments Interface (UPI) and the demonetization of large banknotes prompted a surge in e-payment usage. Today, UPI is widely used for transactions in India, with more digital transactions completed in the country than anywhere else. The COVID-19 pandemic further accelerated the adoption of digital payments. Despite some hesitations by certain individuals, the trend of e-payments is expected to continue, contributing to India’s economic growth and formal economy.