A Study on Consumer’s Perception Regarding Unified Payment Interface (UPI)

Abstract

In India, digital payment transactions have grown at an unparalleled rate during the past three years. India has emerged as a leader in digital payment innovation. The Unified Payment Interface (UPI) is a widely used mobile payment technique that enables users to send money immediately and for free across bank accounts. Since its launch, UPI has greatly simplified financial transactions for account holders. In this study, an attempt is made to examine the perception and adoption of UPI by consumers in Sabarkantha district of north Gujarat region. The research instrument for data collection of this study is structured questionnaire which was distributed to120 user of UPI in Sabarkantha district out of which of 107 responses were collected used for data analysis. Convenience sampling method was used for analysis of data by using simple percentage analysis, chi-square test, independent T-test, and One-way ANOVA. Based on perception of respondents, it was found that Majority male respondents are graduate and belongs to 20 to 30 younger age. Simple percentage analysis reveals that most of the consumers prefer phonepe mobile application for UPI on daily basis. Additionally, there is a significant correlation between respondents' age and gender and their use of UPI services.