• Rajas Saroy Reserve Bank of India
  • Sakshi Awasthy Reserve Bank of India
  • Naveen K. Singh Reserve Bank of India
  • Sonali M. Adki Reserve Bank of India
  • Sarat Dhal Reserve Bank of India
Keywords: Payment systems, Logistic regression, Digital economy


The COVID-19 induced lockdown in India was an inflection point for on-boarding of new users into digital payments. Using a large survey dataset, we examine the driving factors of this shift for those who used digital payments for the first time. Apart from demographic drivers of payment choice traditionally explored in the literature, we find that this shift was significantly shaped by the degree of awareness of digital modes, access to smartphones and debit cards, and pandemic-relief welfare transfers. Users who had abandoned digital payments due to prior bad experiences switched back to such modes.


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How to Cite
Saroy, R., Awasthy, S., Singh, N., Adki, S., & Dhal, S. (2022). THE IMPACT OF COVID-19 ON DIGITAL PAYMENT HABITS OF INDIAN HOUSEHOLDS. Buletin Ekonomi Moneter Dan Perbankan, 25, 19 - 42.