Paper Details

Payments and transactions are the integral part of our daily live. These transactions were predominantly done in cash till recent past. The cashless mode of transaction has evolved and gathering momentum as an alternative to cash. Retail is the ultimate destination for transactions and it has witnessed a remarkable journey from unorganized to organized format in last decade. The transition from grocery stores, to malls and E-Commerce to organized retail has seen the growth of payment mode from cash to cashless. The outbreak of Corona Virus or COVID – 19 pandemic had severe impact on both the life and livelihood. The Nationwide Lockdown restricted the way businesses activities were carried out as health and safety became the prime concern.. Organized Retail being the caterer to end customer, witnessed tremendous changes in the purchase and payments pattern. Our Government and Agencies had taken various initiatives and innovations to boost digital payments as a safe and contactless mode of payment amid the concern for Corona virus. This pandemic has witnessed significant rise in cashless transactions by using credit cards, Paytm, E-wallet, UPI or Electronic fund transfer instead of cash. This paper studies the impact ofCOVID-19 on the growth and challenges of cashless transactions in organized retail sector.

Awareness, Penetration, Organized Retail, Cashless, Transactions