The digital transformation is taking the whole world by storm and no sector has been left untouched by such revolution. The consumer has a myriad of digital payment options to choose from. The choice depends on the attributes that are favourable to the user. The widespread adoption of smartphones, improvement in the network infrastructure and various digital initiatives by the government gave momentum to digital payments. COVID-19 and Demonetization have compelled people to use digital payment options. However, these two major phases have put limitations on people’s lives but have transformed the way people do financial transactions. India has set the stepping stone for conducting digital transactions by setting up of National Payment Corporation of India in 2008 which acts as an umbrella organization for various payment and settlement systems. As per Standard & Poor Global Market Intelligence India’s mobile payment transactions grew 163 per cent to 287 billion in 2019 when the pandemic gave its first presence in India. The various mobile payment apps like Google Pay, Phone Pay, Paytm, Amazon Pay etc. have been in access to Indian consumers and help in making payments conveniently, easily, quickly and securely. 98.1 per cent of students are aware of digital payment methods and their source of awareness is their friends as highlighted by the RBI Pilot survey on “Retail Payment Habits in India”. Thus, an attempt is made to study the demographic profile, preferred Mobile Payment applications, Usage, and barriers faced while using mobile payment applications of University students.