AI – POWERED DIGITAL PAYMENTS SYSTEMS: OPPORTUNITIES AND CHALLENGES

सार

Artificial Intelligence (AI) has become an important technology in the digital payment industry by improving the speed, security and efficiency of financial transactions. AI-powered digital payment systems use technologies such as machine learning, fraud detection, biometric authentication and intelligent data analysis to provide secure and user-friendly payment services. These technologies help reduce transaction errors, detect fraudulent activities and improve customer satisfaction. As digital payment usage continues to grow, understanding both the opportunities and challenges of AI-powered payment systems has gained growing significance. This study primarily focuses on examining the opportunities and challenges associated with AI-powered digital payment systems. The study also aims to understand users' awareness, Patterns of use, level of satisfaction and concerns related to AI-based payment services. Primary data will be obtained from 150 respondents using a structured questionnaire, while secondary data will be obtained from books, academic journals and scholarly studies. Convenience sampling will be adopted for selecting the respondents. The data obtained will be analyze through Percentage Analysis, Weighted Average Analysis, and Chi-Square Test. The expected findings of the study indicate that AI-powered digital payment systems offer several benefits, including faster transactions, improved security, better fraud prevention, personalized services and enhanced customer experience. However, the study also identifies issues including data privacy concerns, cyber security risks, technical failures and limited digital literacy among some users. The study concludes that AI has significant potential to transform digital payment systems, but continuous improvements in security, user awareness, and technological infrastructure are necessary to ensure safe and reliable digital financial services.

Keywords: Artificial Intelligence (AI), Digital Payment Systems, Payment Security, Digital Transactions, Cybersecurity