Use of modern, state of the art technology in Payment Banks is being increasingly seen as an essential ingredient not only for good customer service, but also for good housekeeping. The good old manual & Traditional systems on which the Indian banking industry has depended upon for centuries are perhaps unable to deliver the goods any more. 1050 crore retail digital payment transactions worth Rs.51 lakh crore processed in January 2023. Finally, Due to IT, the stretch of the Payment banks easily extends to the whole banking and general population with whom it can market itself. Hence, the need for Payment Banks becomes more significant in this contemporary world.