Impact of COVID-19 on Digital Payment System in Chennai

Abstract

The goal of this study is to quantify the impact of the COVID-19 pandemic on the digital payment
system in Chennai. The COVID-19 pandemic has accelerated the adoption of digital payment systems
while also causing a significant increase in users taking precautionary measures to ensure the safety
of their financial transactions. Questionnaires were used to collect primary data on the ground, while
secondary data was gathered via the internet, journals, and business publications. A total of 131
people were surveyed, with 75 of them being students, 26 being private employees, 9 being
business/entrepreneurs, 2 being homemakers, and the other four being others. The influence of
COVID-19 is observed to be stronger among the inhabitants of Chennai, where many individuals
have accepted the digital payment method as a result of the impact of lockdowns and social media. As
a result, the study indicates that there has been a significant growth in the usage of digital payments
systems through various apps in Chennai, which was not particularly high prior to the global
pandemic COVID-19.