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A Study of Digital Payment System in G20 Countries

Abstract

Modern payment systems have become increasingly integral to the global economy, transforming the way individuals and businesses conduct financial transactions. This study provides an overview of the digital payment systems in the G20 nations, a diverse group of major economies. The study explores the evolution, adoption and regulatory framework of digital payment systems in these countries and highlights key trends and challenges. The G20, comprised of 19 individual nations and the European Union, plays a pivotal role in shaping the global financial landscape. Each G20 nation has witnessed a remarkable shift toward digital payments, driven by technological advancements and changing consumer preferences. The proliferation of smartphones, the internet and fintech innovations have facilitated the widespread adoption of digital payment methods.

Ramesh Kumar

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