AWARENESS AND ADOPTION OF UNIFIED PAYMENT INTERFACE (UPI)
Dr.R.Jegadeesan1, Hardeep Kumar,2
1.Professor & HOD, Department of Computer Science and Engineering, Jyothishmathi Institute of Technology & Science, Nustulapur, Karimnagar- 505 481.
2.Assistant Professor, Department of ECE, Chandigarh University, NH-05, Ludhiana, Highway,Chandigarh State, Punjab 140413,
Abstract
The fast progression of electronic technology has converted the global economy into a digital ecosystem, resulting in substantial evolution of payment systems. Electronic money, the digital representation of cash, facilitates payment transfers via electronic platforms such as online banking, digital wallets, and smart cards. The Unified Payments Interface (UPI) has evolved as a transformative payment system in India, consolidating various bank accounts into a single mobile application and facilitating smooth, instantaneous, and safe transactions. Created by the National Payments
Corporation of India (NPCI), UPI enables peer-to-peer and peer-to-merchant
transactions, functioning continuously throughout the year, thereby improving ease and accessibility. This study investigates the awareness, usage habits, and preferences about UPI among users in the West Godavari district. The research analyzes demographic factors, including gender, age, employment, and income, as well as sources of awareness and preferred payment methods, utilizing primary data gathered from 387 respondents. The results indicate that UPI is the most favored digital payment method, especially among younger and working-age individuals, with social media serving as the primary source of knowledge. The report indicates that UPI is crucial in advancing digital payments, financial inclusion, and economic engagement,
particularly among lower-income demographics. The analysis underscores the potential of UPI as a driver for equitable economic growth suggests scope for further studies across broader regions and socio-economic contexts.
Keywords: UPI , technologies, Electronic money, RBI, National Payments Corporation
of India
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