Scanning the surging Indian digital payment gateways through peer-to-peer (P2P) applications and challenges : A literature review

Introduction: Digital payment gateways have witnessed remarkable growth in India, primarily driven by the widespread adoption of peer-to-peer (P2P) applications. As this trend continues to reshape the financial landscape, it becomes crucial to conduct a systematic literature review (SLR) to analyze the surging Indian digital payment gateways through P2P applications. Need of the study: The need for this study arises from the rapid expansion of digital payment gateways and their implications for various stakeholders, including businesses, consumers, and the economy as a whole. Understanding the underlying factors contributing to this growth, the impact on the Indian economy, the challenges faced, and the future developments in this domain is essential for researchers, practitioners, and policymakers. Purpose/aim of the study: The primary aim of this SLR is to comprehensively examine the existing body of research and provide insights into the factors driving the surge of P2P payment gateways in India. By employing a systematic approach, the review seeks to identify key themes, patterns, and trends in literature. Methodology: The methodology for this SLR involves conducting a thorough search and selection of relevant studies from academic databases, peer-reviewed journals, and conference proceedings. The selected studies will be critically analyzed, and the findings will be synthesized to present a comprehensive overview of the topic. Findings: The findings of this SLR are expected to shed light on the key factors that have contributed to the growth of P2P payment gateways in India. Moreover, the review will explore the impact of these gateways on the Indian economy, including their effects on traditional banking and financial services, their role in boosting e-commerce and digital transactions, and their contribution to employment opportunities and financial inclusion. Implication and future scope: The implications of the findings will be discussed, and recommendations for policymakers, practitioners, and researchers will be provided. Additionally, the review will identify research gaps and potential future directions, including the adoption of blockchain technology, integration with emerging technologies, cross-border P2P payments, enhanced security measures, and the impact of COVID-19 on digital payment gateways. Novelty: The novelty of this SLR lies in its comprehensive analysis of the surging Indian digital payment gateways through P2P applications. By synthesizing the existing literature, this review aims to provide a valuable resource for understanding the evolving landscape of digital payments in India.