Relationship Between Digital Payments Platforms, Merchants and Banks in India Using Social Network Analysis

Abstract

The Digital India programme is one of the flagship programmes of the Government of India with a focus on promoting cashless transactions using various modes of digital payments. These modes include Mobile Wallets, Use of Credit and Debit Cards, Mobile banking, internet banking and UPI. The study aims to analyse the area of Digital Payments and understand how banks and financial institutions are strategizing themselves to gain a competitive advantage in this Digital Era. This will be achieved by mapping the relationship between the Indian Banks and the Digital Payment platforms using Social Network Analysis, thus trying to identify significant performing banks and their association with classified digital payment platforms. This network analysis will help banks to detect change-in-opinion, and design strategic decisions by resolving complications from the consumer’s perspective. This study demands the latest data, collected from pertinent sources. Information is being gathered from the National Payments Corporation of India (NPCI), supported by the Reserve Bank of India (RBI) and the Indian Bank’s Association (IBA), which is functioning as an often related umbrella organisation for retail payments, settlement systems and operations in India.