The Government of India's flagship initiative, the Digital India program, aims to make India into a cognizant, technologically-enabled enabled society. One of the purported parties of Digital India is "Faceless, Paperless, Cashless." The transition from a cash-based to a cashless economy is accelerating the growth of the digital payment system. In order to boost the economy in India, the present government (led by Narendra Modi) is encouraging citizens to move toward cashless transactions. The purpose of this case study is to investigate the effects of digital payment apps and their effects following demonetization. Similar to water, money is a basic necessity that makes it more difficult to survive. Nevertheless, the use of cash doesn't seem to be reducing all that much, with about 85% of all payments made globally still being conducted in cash. The fact that there is nothing that can fully compete with the flexibility of notes and coins is one of the key causes. A cashless society will minimize terrorism, fake currency, black market transactions, and cash-related robberies while also promoting our nation's economic development. Cyber fraud, the high proportion of illiteracy, people's attitudes, and a lack of efficiency in the digital payment system are some of the major obstacles that could prevent the policy's adoption. Four themes that are anticipated to influence this industry's future are also projected to fuel the expansion of digital payments in India. The advent of next-generation payment service providers, a supportive regulatory environment, the digitization of India, and improved consumer experiences are the four factors that have fueled the expansion of Indian digital payment systems. A cashless economy is one in which digital transactions, such as those performed using digital wallets, net banking, mobile banking, debit cards, and credit cards, are utilized to replace the conventional manner of making payments with cash or coins.

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Keywords: Cashless Payment System, Cashless Economy, Digital Payments.