NEAR FIELD COMMUNICATION TO TRANSFORM DIGITAL BANKING: A DESCRIPTIVE STUDY OF CONTACTLESS CARD PAYMENT IN INDIAN BANKING
Kamna Bhadu1, Dr. Tina Shivnani2
1Research Scholar, 2Research Supervisor, Department of Commerce, Manipal University Jaipur, Jaipur, Rajasthan
ABSTRACT: People’s lifestyles and the way businesses are run have been revolutionized as an immediate consequence of the phenomenal rate of innovation in technology during the previous few decades. The presence of both the web and cell phones has resulted in a major transition in a variety of industries, including financial and banking services, from activities that were performed manually to those that were performed automatically and from offline transactions to online transactions. The purpose of this research is to conduct a literature review on topics relevant to virtual banking i.e., NFC-contactless banking as well as financial inclusion between the years 2018 and 2023. This research employed a descriptive approach based on a literature review of prior research and existing literature on online banking and financial inclusion as its methodology. These studies and literature have been sourced either from academic websites that are available at no cost or require no registration to access them. The publications and papers have been obtained through a wide variety of internet sources. A total of 30 papers that are connected to this topic were gathered and reviewed. This study looked at a variety of different characteristics, some of which include authorship patterns, the number of papers that have been published and factors such as study technique, location, subject content, and researcher sexual identity. The primary takeaway from this investigation is that earlier research has focused on aspects of economic and social growth that have been shown to be favorably impacted by the expansion of access to NFC digital banking and financial services.
KEYWORDS: Digital Banking, Digital Financial Services, Financial Inclusion, Indian Banking, Near Field Communication, Contactless Payment.