The Changes and Challenges of Digital Payment

Maria Angela Wang Shi ()
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Maria Angela Wang Shi: Chiway Repton School

A chapter in Proceedings of the 2025 International Conference on Financial Risk and Investment Management (ICFRIM 2025), 2025, pp 579-587 from Springer

Abstract: Abstract The innovation of digital payment has completely changed the way people handle money, replacing traditional cash transactions with more convenient and efficient intelligent payment systems. However, these systems also have their challenges. This paper discusses the changes digital payments have brought, including consumer convenience and spending patterns and improved financial inclusion. This paper also included the challenges associated with it, such as cybersecurity risks, digital divide and how its impact on conventional monetary policies. This study provides a comprehensive examination of the advantages and disadvantages of digital payment systems while offering insights for individuals, businesses and governments to help them adjust to the changing financial environment.

Keywords: digital payments; electronic transactions; mobile wallets; convenience; cybersecurity (search for similar items in EconPapers)
Date: 2025
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Persistent link: https://EconPapers.repec.org/RePEc:spr:advbcp:978-94-6463-748-9_65

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DOI: 10.2991/978-94-6463-748-9_65

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