Macroeconomic effect of Indian fintech company

Abstract

In this paper, we have analyzed the effects of deaths and infections due to covid in India on the digital transaction volume. We have found that the population behavior towards the digital transactions varied widely over the different demographic segmentations of Indian states and UTs. Hence, we conclude the states with highest GDP per capita has more propensity to spend digitally if the covid deaths increases whereas covid has no effect in states and UTs with less GDP per capita of digital transactions. In another segmentation (industrial and non-industrial), we have found infection has major effects on industrial states whereas deaths have more effects in non-industrial states. Also, we have found that month on month increase in infections and deaths has been relatively insignificant in determining the month on month increase in transaction volumes. So, we conclude that pandemic like COVID-19 has changed the consumer behavior towards digital payments.