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Recent Research Reviews Journal

Review of Trends and Challenges in Digital Payment Systems

Open Access
Published: 16 October, 2026
Pages: 543-469
  • Dinesh Kumar Anguraj Dinesh Kumar Anguraj
    Associate Dean (R&D) & Associate Professor, Department of Computer Science and Engineering, Koneru Lakshmaiah Education Foundation (KL University), Andhra Pradesh, India
    Associate Dean (R&D) & Associate Professor, Department of Computer Science and Engineering, Koneru Lakshmaiah Education Foundation (KL University), Andhra Pradesh, India
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How to Cite

Anguraj, Dinesh Kumar. 2026. “Review of Trends and Challenges in Digital Payment Systems”. Recent Research Reviews Journal 5 (2): 543-469. https://doi.org/10.36548/rrrj.2026.2.013.
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Keywords

Digital Payments
Mobile Wallets
Contactless Payments
Cybersecurity
Interoperability
UPI
Blockchain
Financial Inclusion
Real-Time Payments
Regulatory Challenges

Abstract

The development of digital payment systems has revolutionized the process of conducting business in terms of technological advancements and changing consumer behavior. This literature review focuses on new trends such as mobile wallets, contactless payments, realtime processing, embedded finance, biometric authentication, and Central Bank Digital Currency (CBDC). Moreover, other emerging trends include the impact of Artificial Intelligence on personalized services and the application of Blockchain technology in digital payment systems. Other topics discussed in the paper include cybersecurity, the demand for interoperability, costly transaction costs, regulation, financial inclusion, and fraud. An analysis of both global and regional perspectives on digital payment systems, especially concerning countries such as India with payment platforms such as the Unified Payment Interface (UPI), has been included with regard to the influence of COVID-19 on digital payments.

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