A Study on Customer perception Toward UPI Payment with the Reference to

Ramanagara Dissertation Project Report submitted to

PRESIDENCY UNIVERSTIY In Partial fulfilment of the for the requirement

for the degree of Master of Business Administration

Name: Parikshith km

Reg.NO:20212MBAO453

Under the Guidance of

Dr . Mohammed Mansoor

SCHOOL OF Management,

PRESIDENCY UNIVERSITY,

BENGALURU-560064

1
2022-2023 march 16-may-16

AC KNOWLEDGEMENT

➢ I am indebted to many people who helped me accomplish this

Dissertation project Successfully.

➢ First I thank the Management, presidency university for giving me

the opportunity to do my project

➢ I thank Dr, GUNJEET KAUR , Dean Dr, AKHILA UDUPA , Head

of the

Department and presidency university for their kind support

➢ I thank Dr Mohammed Mansoor for his support and guidance

during the course of my project I remember him with Much

gratitude for his patience and motivation but for which I could not
have submitted this work
➢ I have Followed the Guideline provide by the Department in

preparing the report

➢ I thank my parents for their blessings and constant support with

out which this

Dissertation project would not have seen the light of day

2
Parikshith km

DECLARATION BY THE STUDENT

I Her by declare that “A Study on customer Perception toward UPI Payment

with Reference to RAMANAGARA is the result of the project work carried out
by
Under the guidance Dr, MOHAMMED MANSOOR in partial fulfilment for
the award of Master Degree in Business Administration by Presidency
university.

3
 I also declare that this project is the customer of my own efforts and has not
been submitted of any other university or institute for the award of any other
Degree or Diploma or certificate

Place: Bengaluru Date:

Name : Parikshith km

Reg NO :20212MBA0453

CERTIFICATE BY THE GUIDE

DATE:

4
 This is a certify that the study on customer perception toward UPI Payment
with Reference To RAMANAGARA Is an original work of Mr / 20212 MBA
453 Bearing University Register Number PARIKSHITH K M is being
submitted in partial fulfilment for the aware of the Master Degree in Business
Administration of Presidency university the report has not been submitted
earlier either to this University / institution for the fulfilment of the requirement
of a course of the Mr/ is guided MOHAMMED MANSOOR

Who is the Faculty Guide as per the Regulation of Presidency university

Signature of Faculty GUIDE

Principal /HOD
DATE:

Signature of Director

DATE:

5
 TABLE OF CONTENTS

CHAPTER CHAPTER NAME PAGE NO

1 INTRODUCTION 1-6

2 INTRODUCTION AND
REVIW
LITERATURE

3 RESEARCH DESIGN

4 Analysis of Data and

Interpretation

5 Findings,Suggestion and
Conclusion
6 Annexure

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 FORMATE OF LIST OF TABLE

SL.NO Title Page NO

4.1 Table showing on the Basic of Respondent Gender

Factor

4.2 Table showing on the Basic of Respondent Marital Status

4.3 Table showing on the Basic of Respondent Age Group

4.4 Table showing on the Basic of Respondent Educational

Qualification
4.5 Table showing on the Basic of Respondent Monthly
income

4.6 Table showing on the Basic of Area of Respondents

4.7 Table showing Respondent have Account in UPI- Pay

APP

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4.8 Table showing How long Respondent have been the
customer of UPI -Pay
4.9 Table showing Respondent visited in UPI -Pay to do
most
4.10 Table showing Respondent use Booked any Movie ticket
through UPI Pay

4.11 Table showing Respondent use any Other Digital

payment Account

4.12 Table showing Respondent use any other Digital

Account

4.13 Table showing Quality Services provided by UPIPay

4.14 Table showing How often Respondent use UPI-Pay

App
4.15 Table showing Respondent feel while you using
UPIPay App
4.16 Table showing Charges for money transfer to Bank

4.17 Table showing Respondent opinion about Service

offered by UPI- Pay
4.18 Table showing Overall services of UPI -App

4.19 Table showing on the basis of Respondent Awareness

towards UPI pay KYC
4.20 Table showing ON THE Basis of Respondent expert
any Changes in UPI -Pay APP

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 LIST OF FIGURES

SL.NO Title Page NO

4.1 Graph showing on the Basic of Respondent Gender

Factor

4.2 Graph showing on the Basic of Respondent Marital Status

4.3 Graph showing on the Basic of Respondent Age Group

4.4 Graph showing on the Basic of Respondent Educational

Qualification
4.5 Graph showing on the Basic of Respondent Monthly
income

4.6 Graph showing on the Basic of Area of Respondents

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4.7 Graph showing Respondent have Account in UPI- Pay
APP
4.8 Graph showing How long Respondent have been the
customer of UPI -Pay
4.9 Graph showing Respondent visited in UPI -Pay to do
most
4.10 Graph showing Respondent use Booked any Movie
ticket through UPI Pay

4.11 Graph showing Respondent use any Other Digital

payment Account

4.12 Graph showing Respondent use any other Digital

Account

4.13 Graph showing Quality Services provided by UPIPay

4.14 Graph showing How often Respondent use UPI-Pay

App
4.15 Graph showing Respondent feel while you using
UPIPay App
4.16 Graph showing Charges for money transfer to Bank

4.17 Graph showing Respondent opinion about Service

offered by UPI- Pay
4.18 Graph showing Overall services of UPI -App

4.19 Graph showing on the basis of Respondent Awareness

towards UPI pay KYC
4.20 Graph showing ON THE Basis of Respondent expert
any Changes in UPI -Pay APP

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Executive summary

This project is about ; A Study on customer prescription toward UPI payment

with the Reference to RAMANAGARA unified Payment interface is a system
for interbank transfers that allows sending and requesting money it is developed
by national payment corporation of India (NPCI) and regulated by Reserve
Bank of INDIA BHM -UPI app is built over the immediate payment Service
(imps) infrastructure and allows the user to instantly transfers money between
bank account of any two parties Multiple bank account of a client can be linked
to UPI app BHM app allow users to send or send or Receive money to or from
UPI addresses or to non UPI based account by scanning a Q code or
MMID(Mobile Money identifier) code banks that are listed with the UPI
Application by NPCI are termed as Payment Service Providers (psi).PSP is
term which refers to those banks which have their own mobile application to
facilitate transaction issuers are those bank which don’t have their payment
interface and rely on third party software for transaction using UPI in the paper
an attempts is made to identify the level of awareness among people about

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Research work was done to identify and on what basis they select their mode of
digital payment this research work done to identify the adoption of UPI in
money transfer system both primary data secondary Data has been used in this
paper to make full utilisation in order to accomplish the objective Unified
Payments Interface (UPI) is a system that powers multiple bank accounts into a
single mobile application (of any participating bank), merging several banking
features, seamless fund routing & merchant payments into one hood. It also
caters to the “Peer to Peer” collect request which can be scheduled and paid as
per requirement and convenience.

With the above context in mind, NPCI conducted a pilot launch with 21 member
banks. The pilot launch was on 11th April 2016 by DR. Raghuram G Rajan,
Governor, RBI at Mumbai. Banks have started to upload their UPI enabled Apps
on Google Play store from 25th August, 2016 onwards.

INTRODUCTION

Unified Payment Interface (UPI) is an instant real time payment developed by

National payment Corporation of India facilitating inter- bank transaction the
interface is regulated by the reserve bank of India and work by instantly
transferring fund between two bank accounts on a mobile plat from over the ten
years India has made little slow but steady program in Epayment Till now many
methods are invented in E payments to digitalize the current banking system so
UPI( Unified payment interface ) is one of the current Banking system So UPI
(Unified payment interface ) is one of them India is large scale country and so
many are un banked OR don t known how to avail the banking services which
are easy and so many are but due less literacy rate and unknown factor led
people not to use or facing difficulties in using Banking services so we need to

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overcome these difficulties and to make payment process easy Some of the
Challenges currently India facing in E Banking sector are

According to the data provided by RBI number of E payment or no cash

transactions stand to 6per person per year About I crore plus stores more easy
Convenient secure Government stared and NPCI (NATIONAL PAYMENT
CORPORATION OF INDIA ) IN 2009 which Controls all E payment India and
it is set up with Guidance and support of Reserve bank of India(RBI) India
bank it is set up with guidance support of reserve bank of INDIA (RBI)and it
is) After the starting NPCI it has taken many septs to simply and provide single
interface payment system some of the key Drivers UPI’s core function is to
support easy and secure money transfers between bank accounts. It does this by
adding multiple bank accounts into a single mobile application, allowing for
seamless fund transfers and merchant payments from one the NPCE Unified
payments interface (UPI) is a system that powers multiple
application, allowing for seamless fund transfers and merchant payments from
one place. It also paid as requested. Payments can be made using a UPI ID, UPI
Number, Account number, and an Indian Financial System Code (IFSC).
Payment security is as per applicable RBI guidelines using a 1 2-factor
authentication where the second factor of authentication is the UPI PIN. UPI is
also available through the Unstructured Supplementary Services Data (USSD)
channel to enable UPI members to cater to users of feature phones. Types of
transactions supported as requested. Payments can be made using a we all are
used payment apps like phone pe Google pay , Paytm, ete these apps have
become a crucial part of our lives the transaction on these apps takes placed by
UPI Types of transactions supported as requested. Payments can be made using
This market of digital payment highly effected by smart tool known as smart
phone this has eco system made it very easy to inculcate the use of various
application technology in our day today UPI Is a simple payment tools created

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by NPCI that is based on IMPS system UPI can operate on a smart phone and it
works as an email ID for Money it facilitates virtual payment address (VPA A
VPA is an ID which a user thus to optimize this creates by linking their account
to a bank mobile application as a payment identifier for sending and collecting
money and works on single click National payments corporation of India
(NPCI) the umbrella organization for all retail payment systems in the has taken
up a new initiative of implementing unified payment to simplify and provide a
single interface across all systems Banks have started to their UPI enable App
on google play from 25th august 2016 onward
Cost -Considering the fact that about 150 million smart phone users exist today
and that number is expected to grown to 500 million in the 5 years solution
should offer a mechanism to take full advantage of that Use of Mobile phone as
the authentication (credential capture) device use of virtual payment addresses
and use of 3rd party portable authentication Schemes such as Aadhaar should
allow both acquiring side and issuing side cost to driven down this allows banks
and others payment players to focus on core business and allows half a billion
phones to be the primary payment Device in conjunction with others 3 rd party
authentication Reserve bank of INDIA has taken systematice steps to promoted
digital payment in india and created National Payment Corprotion of india
(NPC)as aumberella organization to develop low cost retial Receiving money
through the system is called a "pull." Once the user has logged in to the system,
she selects the option to collect money. The user then needs to enter the virtual
ID for the remitter, the amount to be collected, and the account in which she will
deposit the funds. A message then goes to the payer with the request to pay. If he
decides to make the payment, he enters his UPI PIN to authorize the transaction.

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Once the transfer has been completed, both the sender and the
recipient receive a confirmation by text message to their smartphones
What is UPI Payment?

UPI Payment is the advanced version of the old-school payment methods of

IMPS and NEFT. Through UPI Payment, the account holders can transfer a
certain amount from one bank account to another without additional charges. To
transact through the Paytm UPI payment application, every individual needs to
set up a UPI account and a UPI PIN that is the password for confirming the
transaction. To transact through Paytm, you can simply select the receiver’s
contact from your phone book or enter the receiver’s contact number to send
money via UPI.

The UPI payment method has turned out to be useful for many because of the
following reasons-

• To transfer money through UPI, the user does not need to enter any
specific details of the receiver. In Paytm UPI payment application, you can
simply select the receiver’s contact from your phone book or enter the
receiver’s contact number to send money via
UPI
• Unlike other payment methods, UPI money transfers do not require
much hassle and can be completed within a few seconds
• UPI Payment facility allows individuals to request money from some
other individual, which is not an option with any other payment method

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Back ground of the study

Mmrean gulatory body with Payments nnnnd Reserve Bank of India is the

Reserve Bank of India is the regulatory body with Payments and Settlements
Systems Act Being the primary legislation Governing payment system in India
Make India less cash Dependent and promoting Digital payment in India has
been a focus for RBI Since last decade, The five yearly RBI Since last Decade
the five yearly RBI vision Document which has Set the Tone and vision for
achieving key Objective in the payment Eco systems apply sums up the
proactively encourage electronic payment system for ushering in less cash
Society in India and to ensure payment and settlement systems in the country
are safe efficient , interoperable authorised accessible inclusive and compliant
with international standards. The period 20162017 has been the pivotal period
for payment landscape in India a the country witnessed profound change in
payment ecosystem with radical policy Decisions introduction of new age
payment system and Raid change in user Behaviour Demonetization was
introduction of new age payment During this period where by 86%of the
currency notes were Rendered worthless overnight During demonetization paper
Money became scarce and one could witness serpentine Queues in process for
all Digital payment systems the clear objective was to created a uniform and
affordable payment system was a culmination of a series of developments by
NPCI Over a period of 8years since its inception in the first step taken by NPCI
in this Direction was the Standardization simplification and implementation of
national finance for all the by leveraging technology and enable financial
inclusiveness in the country all banks in the country. NFS is now the backbone
which power the Largest domestic ATM network in the country- and
implementation of National Finance Switch] for all the banks of the country.
NFS set the common standard and enabled digital power the it is use on mobile

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 devices to instant largest domestic ATM network in the country. The first step
taken by NPCI in this direction was the standardization Simplification and
implementation of National Finance Switch bank banks of the country. NFS set
the common standard and enabled digital interoperability between all banks in
the country. NFS is now the backbone which power the Largest domestic ATM
network in the country The next revolutionary step for NPCI was to enable
Immediate Payment System (IMPS) riding the interoperable layer of NFS. Prior
to IMPS the modes for digital transactions in banks were Real time Gross
Settlement System (RTGS) and National Electronics Funds Transfer System
(NEFT). RTGS and NEFT are unsuitable for small ticket digital retail payments
due inherent limitations of these systems like high transaction limits, delayed
settlement in batches and fixed operating time hours. these systems like high
transaction limits, delayed settlement in batches and the clock availability. IMPS
is channel independent and can be accessed through batches and the clock
availability.
mobile phone, internet, ATM and Unstructured Supplementary Service Data
these systems like high transaction limits, delayed settlement in batches and
fixed operating time hours. these systems like high transaction limits, delayed
settlement in batches and the clock availability. IMPS is channel independent
and can be accessed through mobile phone internet ATM and unstructured
Supplementary Service Data

. INDUSTRIAL Profile

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Unified payments interface

Unified Payments Interface (UPI) is a system that powers multiple bank

accounts into a single mobile application (of any participating bank), merging
several banking features, seamless fund routing & merchant payments into one
hood. It also caters to the “Peer to Peer” collect request which can be scheduled
and paid as per requirement and convenience.

Generating UPI – PIN:

• User selects the bank account from which he/she wants to initiate the
transaction

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• User clicks one of the option

Sending money using VPA

• Once you provide a unique VPA, it gets approved instantly, and you get a
virtual payment address. The arrival of the VPA and the UPI app has made
funds transfer a much easier business than it used to be. To send money to
someone using the UPI app, you must have the VPA of

• that person. Follow these steps to transfer money using VPA: Just like you
need a credit/debit card to make payment card payments, you need a VPA
to make UPI payments. VPA stands for Virtual Payment Address which is
basically the address to or through which you can make UPI money
transfers. A VPA is a unique financial address using which you can send
and/or receive money in your bank account through UPI.

Importance of study

• The main implication of the study is that UPI is helping people in more than
one way. It is not only supporting the financial literacy but also contributing
to financial inclusion and economic development of the poor, indirectly.
Therefore, policy makers can use the findings of this study to frame policies
for UPI more effectively in the future.

• By using the collect payment option, make Person to Business (P2B) By

using the interactions easier. This would improve commerce and the Indian
economy as a whole.

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• UPI will reduce the amount of cash used in the economy, which is now 12%
of GDP.
• The annual cost of cash transfers will decrease thanks to UPI (currently
around Rs. 20000 crores)

Need of Study

UPI is an ABSTRATION over Standard payment transfer like IMPS it help to

hide account information along with consumer Also UPI is fast and does not
INVOLE the cost like debit card or net banking BY using STATISTICS
government and other bodies the Study will approach to under stand , Discuss
and bring out the issue RELEVANT to the Title

Conceptual framework of the study

The Government of India has been taking several measures to promote and
encourage digital payments in the country. As part of the ‗Digital India
‘campaign, the government aims to create a ‗digitally empowered ‘ economy
that is ‗Faceless, Paperless, Cashless‘. There are various types and modes of
digital payments. Some of these include the use of debit/credit cards, internet
banking, mobile wallets, digital payment apps, Unified Payments Interface
(UPI) service, Unstructured Supplementary Service Data (USSD), Bank prepaid
cards, mobile banking, etc. Digital payment methods are often easy to make,

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more convenient and provide customers the flexibility to make payments from
anywhere and at anytime. These are a good alternative to traditional methods of
payment and speed up transaction cycles. Post demonetization, people slowly
started embracing digital payments and even small time merchants and shop
owners started accepting payments through the digital mode.

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Review of Literature

Introduction

In this study the research aims to identify the customer Preference towards
unified payment interface and to know the impact of unified payment interface
in customer satisfaction the Research s find out the below review of Literature
which is relevant for in this study

Abstract

UPI (Unified Payment Interface) platform has been used especially in India
since 2016. This paper is aimed at exploring how UPI is impacting, financial
literacy, financial inclusion and the economic development of the poor in India.
Structured equation modelling is applied in the paper to explore the path
analysis of the relevant construct to establish the relationship. A structured
questionnaire of interval scale was administered to gather the data for the study.
It is found that UPI is impacting the financial literacy. In addition to that, it is
found that financial literacy is significantly impacting financial inclusion which
in turn is significantly causing economic development Moreover, the significant
association of financial literacy to financial inclusion is partially mediated by
financial stability and the significant association of financial inclusion to
economic development is also partially mediated by trust. The main implication

22
of the study is that UPI is helping people in more than one way. It is not only
supporting the financial literacy

.
Review of literature

➢ The literature on the topic varies from UPI as a digital innovation, how it

plays an important role in solving the issues of digitalization of the payment

services to the social impact of the digitalization on the financial services.
However, the literature on the topic is on the piece meal basic and does not
provide a holistic and cause and effect relationship of UPI to ED, which is
done by the current study. The purpose of literature review is to prove that
the issue of study of UPI for economic development has never gone ahead of
theoretical discussion and confine to descriptive study only. The purpose of
this literature review is also to explore the relationship of UPI with other
factors to be tested empirically

➢ The work on UPI has been done theoretically or operationally. In the

theoretical studies on UPI, it explores the possible potential of UPI for larger
masses and for its benefits for digitalization of the financial services
[42,53,69,94]. Operational studies using UPI, discusses mainly its
operational strength to be accepted as a futuristic tool for digitalization to
have the mass appeal [36]. But it is observed by the authors that none of the
study empirically talks about the impact of UPI on the economic

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 development of the poor people. UPI per se is driven by accessibility,
convenience, cost and by removing the barriers of financial exclusion
[26,56,70,92,98]. Cost and barriers of financial inclusion are more
significantly contributory factors for fintech to support financial inclusion
and economic development
[19,24,26,50,76,98].

➢ Fintech, mobile, and other technology drivers are very effective in increasing

the financial literacy [18,43,64,70]. Similar arguments can be presented for

UPI to support financial literacy. ICT (information, communication and
technology) also supports economic development [15,75,80]. ICT, while
supporting economic development, obviously and positively encourages the
financial literacy [52,67]. This argument is also further corroborated by the
evidence that literacy also support the economic development [28,83].
Therefore, it is equally pertinent to imply that UPI supports the literacy.
Thus, the following hypothesis is formed:

➢ Literature show that there are not many studies on UPI to build up the theory

of the linkage of UPI to FL and eventually to FI. However, the closest

substitute to UPI can be ICT or Mobile banking, which has many examples
suffice to build such theoretical framework. There are many studies which
has provided evidence that ICT led to Financial Literacy
[27,43,63]. Moreover, there is umpteen evidence that ICT led to FI or better
standard of [1,25,55,80]. In addition to this, there are more supporting
literature regarding mobile banking/mobile internet for FI

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➢ The second part of the model is that FL leads to FI which in turn leads to ED

of the poor. There are many studies which have emphasized that FL leads to
FI [3,14,32,63]. Furthermore, literature is replete with the evidence that FI
leads to ED [12,13,57,62,71,83,84]. However, causal relationship between
FL and FI is mediated by Financial Stability (FS) [11,78]. In addition to this,
causal relationship between FI and ED is mediated by Trust. The mediation
of FS between FL and FI that is quintessential as full effect of FL on FI can
be transferred only when some basic levels of financial consistency are
presented in the system. In addition, the effect of FL on FI will be there but
less in impact. Similarly, the mediation by Trust between FI and ED ensures
that FI will actually serve its purpose of ED, however, without trust, the full
impact of FI on ED cannot be seen
[20,100].

➢ However, causal relationship between FL and FI is mediated by Financial

Stability (FS) [11,78]. In addition to this, causal relationship between FI and

ED is mediated by Trust. The mediation of FS between FL and FI that is
quintessential as full effect of FL on FI can be transferred only when some
basic levels of financial consistency are presented in the system. In addition,
the effect of FL on FI will be there but less in impact. Similarly, the
mediation by Trust between FI and ED ensures that FI will actually serve its
purpose of ED, however, without trust, the full impact of FI on ED cannot be
seen [20,100]

➢ Somanjoli Mohapatra (2017) In their study reported that the single interface

across all NPCI systems besides creating interoperability and superior

25
 customer experience. The UPI seeks to make money transfers easy, quick
and hassle free. The proliferation of smart phones, the availability of an
online verifiable identity, universal access to banking and the introduction of
biometric sensors in phones will proactively encourage electronic payment
systems for ushering in a less-cash society in India

➢ Radhika Basavaraj KAKADE, Prof. Nupur A. VESHNU (2017) In their

study reported that the UPI has made digital transaction for individuals as
easy as sending text messages. Service is available 24X7, not like RTGS or
NEFT which don’t work on holidays or during non-banking hours. This will
bring enormous efficiency in the system and help India become a truly
cashless economy

➢ Roshna Thomas, Dr Abhijeet Chatterjee (2017) The study reported that UPI

is a tool with compatible features that can make monetary transactions easy
and affordable to the customers though it is difficult to side line the
challenges. A strong Aadhar platform (UID) combined with statistics for the
country pertaining to increased financial inclusion, Smartphone adoption and
telecom subscription indicate positive prospects for UPI whereas competition
from mobile wallets and possible cases of failure from banks to overcome
technical errors especially relating to the front-end platform designed by
them may negatively impact the scope of this innovative payment tool

➢ Ravish Rana (2017) In their study reported that adoption of digital payment

is influenced by the education level of the customer. If a person has studied

beyond matriculation and internet savvy, he or she will be inclined to use the
digital payment mode. It was also found that in the areas/region where
education level is high such as Delhi NCR and other metropolitan area, the
possibility of acceptance of digital payment is much higher. The growth of

26
 users of Smartphone and internet penetration in such area also facilitated the
adoption of digital payment.

Abstract

After the demonetization there is growth in digital payments in India. The

government of India had initiative called Digital India for the transparency and
quick services for the people in Republic of India. Due to Digital India initiative
there is tremendous growth in use of mobile phones and internet which directly
help increased growth in digital payments. The use of digital payments gives
more transparency in money transactions this improves the economy of India. In
last few years due to the digital payment platform by NPCI called UPI and
BHIM app there is positive changes in digital payments. The objective of this
research paper is to study the positive impact of UPI and BHIM app on digital
payment system. This research paper focuses on the use of UPI or BHIM app by
users. Primary data collected from 200 students studying in the Dr. Babasaheb
Ambedkar Marathwada University, Aurangabad.

K. Suma Vally and K. HemaDivya.(2018the Paper “A study on digital payments

in India with perspective of consumers Adoption” conclude that the deployment
of technology for digital payments have improved the performance of banking
sector and able to achieve the motive cash less country. This study also give
emphasis to the percentage of awareness on maximum utilization of technology.

27
Banks should take effective measure in creating awareness towards the effective
usage technology and

Issues in transaction of money online (2018) : There are various issues in

transaction of money online such as privacy issues in which people refrain from
using digital payments apps and there is a sense of risk for them while using
these apps . Rather then risk is more riskier for non users is the money they are
about to transfer through this apps because there is fear of losing money or they
getting trapped. Therefore to keep in other words we can say there are security
issues as well. (Radhika Basavaraj Kakadu)

- No accessibility to internet (2018) : There was a provision where apps to be

made which can transfer money offline as well. But to make it more proper or
more accurate wherein the transactions happening can be traced, so accessibility
to internet is much needed where the source would know from when and where
the transactions are taking place. No internet can really hamper the UPI
payment process. (Financial express)

Complexity of using UPI (2018): The urban India following the recent trends
and making its way towards digitalization often adapts the new and easier ways
for everything but considering the rural areas wherein the digital illiteracy is
whooping 90% wherein we can understand the usage of UPI and because they
haven’t used these kind of modes of payment online they feel it more complex
to use. (Radhika Basavaraj Kakade)

28
Technological barriers (V04): There are technological barriers regarding UPI
which is an end to end encryption method for transactions of money meanwhile
it can also cause technological barriers like errors in using the different
payments app or slow internet connections which can hamper it. (Chatterjee)

Digital Illiteracy (V05): There is less digital literacy in India except rural areas
because of increasing population in urban cities the statistics show huge
numbers :of usage but the matter of the fact is there is still digital illiteracy in
India in rural areas which can prove to regressive in aspect of country going
towards digitalization. (Radhika Basavaraj

Capability to call it as cost effective innovation (V06): Since it lacks many

features, there were rumours of it replacing the NET Banking. But the problem
with UPI is it lacks lot of other features to call it as a cost effective innovation
such as to apply for the loans or to open a bank account such as savings A/C or
current A/C. (THE HINDU)

Abstract

In last few years, India has taken a move towards the cashless economy where
the payment is made through digital modes. The revolution in the Mobile and
Internet has brought this drastic change in the country revolutionising the whole
industry. A continuous increase in adoption of mobile payments and billing
methods has witnessed leveraging on the wireless technologies in the country.

29
‘Fintech’ is used to provide digitalised transactions to its users to perform
various business tasks in a secured way using internet

based applications. Yet, the success of these application based systems depends
on many other factors like; Ease of use, security option available, Features, etc.
This paper is an attempt to compare the two biggest Unified Payments Interface
(UPI) apps BHIM and Google Pay (Tez) used by the customers. Both these
applications are accepted almost equally in the market but still have some
differences which the author has tried to cover in this study with the help of
survey conducted in Mumbai region for their payment services and various
factors influencing their decision while selecting these applications. Key Words:
Mobile payments, Cashless economy, Internet revolution, Wireless technologies,
digitalised transactions

Vidya, Rajan and Md Shafique(2019) tried to compare digital wallets to

contribute to the design of e-wallets focusing on their security aspects along
with their working procedures. Siddhant Gurung (2018) says that Fintech is
growing very fast in the country but in spite of its rapid growth it is at nascent
stage in the financial sector and a collaboration with other traditional financial
institutions will provide a new direction. Fintech will help the banking industry
in regaining its lost footing and will make it a dynamic sector. Svetlana & Irina
Kuzmina Merlin (2017) evaluated fintech’s development in Latvia and
compared with Europe by identifying financial services using innovative
technologies offered by fintech companies. Kim, Choi, Park and Yeon (2016)
focused on adoption of fintech in Korea

30
The terms digital transaction, electronic transactions, paperless transaction or
cashless transaction are almost used interchangeably in common parlance. The
RBI Ombudsman Scheme for Digital Transactions (2019 Define digital
transactions as “a payment transaction in a seamless system effected without the
need for cash at least in one of the two legs, if not in both. This includes
transactions made through digital/electronic modes wherein both the originator
and the use digital/electronic medium to send or receive money”. However, in
our paper, a digital transaction is one where the payer and payee both use digital
modes of payment

Policies in many parts of the world are being designed in favour of non-cash
payments because of the various problems that cash poses. Cash fuels the
parallel or black economy, therefore, phasing it out might solve this problem
especially with large denomination notes [20]. The cost of printing, destroying
and other cash related operational expenses in India are estimated at 1.7% of
GDP [23]. Cash, It was deemed appropriate to do keyword search in order to
achieve objectives of this research. This study utilized following keywords to
undertake search for relevant work using the Scopus database: “Digital
Payment” OR “Cashless Payment” OR “Mobile Payment” OR “Adoption” OR
“Acceptance” OR “Diffusion” OR “Usage” OR “Intention” OR “Success” OR
“Satisfaction” in order to identify papers relevant to digital payment. The
keyword search returned 109 articles. We were able to download 47 full articles.
Then Adobe Reader’s advanced search function remains a significant part of all
the transactions in most countries

employed using keywords such as “consumer” and “adoption” for all 47 full
articles on mobile payment in order to narrow down articles on consumer

31
adoption of mobile payment. The downloaded mobile payment articles were
deemed to be relevant for this study if they met one of the following two
criteria: the data collection of research took place among consumers, or the
studies developed conceptual model to be empirically tested on consumers at
later stage. The articles were screened out if the data was collected from
merchants or focusing on organizations aspect. In the end 21 papers were found
relevant for inclusion in this review. This study looked into these 21 articles
which specifically focused on consumer adoption of mobile payment. Then a
detailed review of these articles was conducted to identify theories utilized in
this area and various drivers and inhibitors of mobile payment

The terms digital transaction, electronic transactions, paperless transaction or

cashless transaction are almost used interchangeably in common parlance. The
RBI Ombudsman Scheme for Digital Transactions (2019) defines digital
transactions as “a payment transaction in a seamless system effected without the
need for cash at least in one of the two legs, if not in both. This includes
transactions made through digital/electronic modes wherein both the originator
and the beneficiary use digital/electronic medium to send or receive money”.
However, in our paper, a digital transaction is one where the payer and payee
both use digital modes of payment.

Policies in many parts of the world are being designed in favour of non-cash
payments because of the various problems that cash poses. Cash fuels the
parallel or black economy, therefore, phasing it out might solve this problem,
especially with large denomination notes [20]. The cost of printing, destroying
and other cash related operational expenses in India are estimated at 1.7% of
GDP [23]. Cash, however, remains a significant part of all the transactions in
most countries [6].

32
 While reading into data on the macro-level can give us a broad idea of
people’s overall preferences, data at the individual level gives us an insight into
how certain factors impact the choices/decisions consumers make regarding the
mode of payment. Following this line of thought, several studies have analysed
such issues at the level of the consumers. They reveal that the choice of payment
method is impacted by a host of consumer-specific and technological factors.
Transaction size has a significant impact on what mode of payment people
choose. A cross- country comparison of payment diary survey data of seven
countries showed that cash was the preferred mode of payment for smallest 50%
and largest 25% of transactions [2]. In another study, social marginal costs were
computed for various instruments for small and large transaction sizes and it
was found that for larger transaction sizes, there were significant differences in
cost for electronic vs non-electronic payments [8]. Studies show that
demographic characteristics also play a significant role in how people choose to
pay. It was found that better education and higher income lead to lower cash use
compared to noncash modes. Certain categories of age show a stronger
preference for digital payments Bagnall et al. [2].

Consumer perceptions on safety/risk, convenience/ease of use, anonymity and

costs have been shown to affect payment systems adoption significantly. and
Tan [16] show that concerns about privacy emerged as one of the main
psychological factors causing a bias towards cash for retail transactions. Kahn et
al. [10] show that business in the unorganised economy was attributed to
transactions that could be made in cash and did not reveal the agent’s identity.
Bagnall et al. [2] analysed data from cross-country consumer diary surveys

33
Abstract

Digital payments (mainly enabled by mobile devices) have huge potential to

change lives of millions of people in developing countries by offering financial
services to the unbanked masses. Despite its potential digital payment methods
have not been widely and successfully adopted in the developing countries. In
order to ascertain the various drivers and inhibitors behind digital payment
adoption, this study did a review of research on digital and mobile payment
adoption and use. Results of this literature analysis revealed performance
expectancy/perceived usefulness as most significant determinant of consumer’s
Behaviour intention to use mobile payments followed by perceived ease of use
(PEOU). Perceived risk was found as major inhibitor to the adoption of mobile
payments. Also majority of studies employed TAM and its extension to
understand consumer adoption to mobile

Keywords: Adoption, Cashless Payments, Digital Payments, Diffusion,

Literature Review, Mobile Payments, TAM, UTAUT

It was deemed appropriate to do keyword search in order to achieve objectives

of this research. This study utilized following keywords to undertake search for
relevant work using the Scopus database: “Digital Payment” OR “Cashless
Payment” OR “Mobile Payment” OR “Adoption”
OR “Acceptance” OR “Diffusion” OR “Usage” OR “Intention” OR “Success”
OR
“Satisfaction” in order to identify papers relevant to digital payment. The
keyword search returned 109 articles. We were able to download 47 full articles.
Then Adobe Reader’s advanced search function

34
t. The downloaded mobile payment articles were deemed to be relevant for this
study if they met one of the following two criteria: (1) the data collection of
research took place among consumers, or (2) the studies developed conceptual
model to be empirically tested on consumers at later stage. The articles were
screened out if the data was collected from merchants or focusing on
organizations aspect. In the end 21 papers were found relevant for inclusion in
this review. This study looked into these 21 articles which specifically focused
on consumer adoption of mobile payment. Then a detailed review of these
articles was conducted to identify theories utilized in this area and various
drivers and inhibitors of mobile payment.

Salil Panchal and Manu Balachandran (2018) : UPI's success is a proof that
India is moving mountains to user in a less-cash economy. But the scope of
BHIM must be widened. BHIM should add more categories to the payment
application for user engagement. UPI is the ―Refined and finished product of
IMPS and it is forecasted that at some International Journal for Research in
Engineering Application & Management (IJREAM), it could get merged with
the NEFT system, operated under RBI guidelines7

Abstract

The National Payment Corporation of India (NCPI) launched the Unified

Payment Interface (UPI), which is one of the most wonderful, modernised, and
cost-effective inventions. The proliferation of smartphones, technological
advancement, and effective internet communications have increased the
importance of mobile payment services for smartphone users, financial
institutions, and banks. The National Payment Corporation of India (NCPI) may
have established a ground-breaking method of cash transfer through a virtual

35
 payment address, the Unified Payment Interface (UPI), in order to promote a
paperless and cashless economy. For Indian shoppers, demonetisation offered a
unique forum for accepting digital payments. Following demonetization,
government reforms pushed for widespread adoption of cashless transactions

The repercussions of Demonetisation have resulted in a massive increase in

digital payment use. Digital Payments have been around since the 1980s, so it
isn't a new technology; the soil growth is in the various technologies that are
used to perform digital payments. This paper discusses the UPI (Unified
Payment Interface) digital payment technique, including its architecture,
technologies, operations, parties involved in UPI transactions, benefits and
challenges, and factors influencing consumer satisfaction. Concerning the use of
UPI.

Review of Literature

The aim of this study was to learn about customer perceptions of UPI payments,
including whether they are familiar with them and, if so, what factors encourage
or discourage them from using them. According to the literature, UPI payment is
a mechanism in which commercial transactions are carried out using electronic
devices such as smartphones and UPI-enabled applications such as G pay,
Samsung Pay, Phone Pe, and others. It's also a more advanced version of an
electronic payment system that allows users to conduct money transactions
quickly and easily

36
It was discovered that one of their main concerns is protection and trust, which
has an effect on their behaviour when it comes to UPI Payment systems.
Further, we attempted to understand how age influences users' intention to use,
and discovered that although youth are interested in adopting new technology,
older people are not. They are motivated by their own social group to adopt new
technology, but this relationship could not be formed for either youth or the
older generation in the case of the UPI payment system.

It was discovered that when it comes to merchants' intention to use UPI payment
technology, variables such as compatibility and usability of service, consumer
value addition, and customer value addition In other words, for a retailer, utility
of services means that they should not only be cost-effective, but also generally
embraced by their customers, because if this payment mechanism offers greater
convenience than other forms of payment, both customers and merchants would
be more likely to use it.

In terms of individual or non-merchant users, factors such as innovativeness,

stress to use (which measures an individual's level of discomfort when using
technology), and social influence were investigated, and it was discovered that
high stress negatively correlated with user satisfaction, whereas social influence
and recommendation are positively correlated with intention to use UPI
Payment. Early adopters prioritise ease of use and believe they have a thorough
understanding of UPI-payment systems, whereas late adopters are tech-savvy
and use UPI payment as a last resort

37
We also tried to figure out how various factors influence user acceptance and
recommendation of digital UPI Payment. According to current research,
perceived technology protection, performance standards, and innovativeness all
have a positive effect on digital UPI payment recommendation, implying that if
a consumer believes the payment system is safe and meets his expectations, he
is more likely to recommend it to others. The effect of personality traits and
behavioural values on adoption behaviour was also investigated, and it was
discovered that both are very important for digital UPI payment adoption and
use, but their impact on the pre- adoption stage and post-adoption stage is
different

Further, we looked into the literature to learn more about UPI payment users'
post-adoption behaviour and what motivates them to keep using it. We
discovered that the quality of service and system are both positively associated
with confidence and satisfaction, implying that the higher the quality of service
and system, the greater the users' trust and satisfaction with the UPI payment
system. Furthermore, the flow is affected by the quality of information and
service; if confidence, flow, and satisfaction are high, the customer will continue
to use the current service. Based on the above-mentioned literature, we propose
an extended UTAUT2 model for conceptual modelling the factors that influence
the adoption of UPI-based payment apps in India, based on our literature review

satisfaction are high, the customer will continue to use the current service.
Based on the abovementioned literature, we propose an extended UTAUT2
model for conceptual modelling the factors that influence the adoption of UPI-
based payment apps in India, based on our literature review We seek to deepen
and increase knowledge on the evolution of scholarship regarding digital

38
 payments by highlighting the main interpretative strands in the literature and the
changes

• if any, in research approaches. Using bibliometric and scient ometric

measures, we explore research hotspots and developmental trends in digital
payments to identify influential aspects of published contributions and
research streams. Our sample consists of 723 articles published between
1985 and 2021 obtained from the Web of Science. The results show that the
most investigated digital payments are mobile payments, with the main
analysis methodologies typically linked to technology adoption models. This
review, original in terms of sample size and methodology, advances
knowledge on the evolution of innovative payments and guides scholars in
visualising various research models,

Government's digital push has ushered in a new era of digitalization in India.

Digitalization is not just a part of our lives anymore. It is life. How digital economy
& its tool impacts society and in turn, how society shapes those evolving tools is
something that will ultimately define our future. As the digital economy is still
evolving, there are obvious questions about this new economic model that have yet
to be answered. Post demonetization in India, some wonder whether cash will
become extinct

while others have doubts about digital transformation of India. In fact, many have
asked whether a single globally accepted currency will emerge. This book is an
attempt to simplify all these questions, doubts and apprehensions. The book
(Journey Towards Cashless India by Jayant Parikshit) will explain all the relevant
fundamental concepts using real life examples as well as case studies. This will be
a useful book not only for student ts preparing for competitive exams like UPSC,
State PCS, Banking, MBA etc. but, for anyone who wants to understand India's
challenging journey towards a cashless economy amidst the dark clouds of black
money. The purpose of literature review is to extract the essence of the concept

39
related to research. The theories that are evolved by writers and scholars are
included for gaining a complete result. According to a 2015 report by Price
Water House Coopers, India’s unbanked population was at 233 million. Even for
people with access to banking, the ability to use their debit or credit card is
limited because there are only about 1.46 million points of sale which accept
payments through cards. A study by Boston Consulting Group and Google in
July noted that wallet users have already surpassed the number of mobile
banking users and are three times the number of credit

Abstract

After Demonetization there was huge requirement for currency notes but
government was unable to provide required quantity of currency notes and also
Indian government wanted to promote cashless transactions. Unified Payments
Interface (UPI) is a payment system launched by National Payments
Corporation of India and regulated by the Reserve Bank of India which
facilitates the instant fund transfer between two bank accounts on the mobile
platform. UPI is built over Immediate Payment Service (IMPS) for transferring
funds using Virtual Payment Address (a unique ID provided by the bank),
Account Number with IFS Code, Mobile Number with MMID (Mobile Money
Identifier), Aadhaar Number, or a one-time use Virtual ID. An
MPIN (Mobile banking Personal Identification number) is required to confirm
each payment.

India has seen enormous growth in smart phone selling in recent years and will
have 530 million smart phones in 2018(According to a new study by U.S.-based
media agency Zenit). Trough Pradhan Mantri Jan Dhan Yojana 30.45 crore

40
accounts and 22.93 cards provided for universal access to Banking. To increase
internet service in villages or rural area, government providing Wi Fi zone near
to 2500000 Gram Panchayat and this will lead to adoption of data service These
all infrastructure will help launch of UPI will provide low-cost acquisition
infrastructure by allowing smart phones to substitute costlier point of sale (PoS)
devices Rajiv Anand,

Excitement over the growth of mobile payments perpetuated the phenomenon of

disconnected Islands and disjoints experiences. With UPI there is no need of any
other payment app at all. On the other hand if one wants to keep a particular
mobile wallet UPI could enable the interoperability of wallets allowing users to
transfer funds from one wallet to another. Since RBI has allowed banks to
become PSPs (Payment Service Providers) mobile wallets are cut of the picture
at the moment. So if mobile wallets represent any threat to proprietary solutions
(banks), UPI comes as a boon for

41
Abstract

The main purpose of this study is to propose a research model to explore the key
factors affecting consumers’ willingness to use online banking. There are two
stages in this research. Firstly, the decision making trial and evaluation
laboratory (DEMATEL) and analytic network process (ANP) were used to
explore the key factors of companies in operation of online banking. Secondly,
the structural equation modeling (SEM) was used to explore the key factors of
consumers’ actual use of online banking. The results showed differences in the
factors that companies and consumers adopted. Based on the findings,
companies can adjust their business strategies and improve the consumers’
willingness of online banking usage. The primary factor valued by both

42
companies and consumers is trust. Hence, in the business of internet banking,
the companies must strengthen areas such as liquidity monitoring, information
security, and compliance with financial regulations, in order to reduce risks and
gain customers’ trust.

Literature review

Electronic banking started to rise in 1960 and was mainly represented by

Automated Teller Machines (ATM) as an extension of over-the-counter service,
followed by the new financial services derived from the development of
computer technology. For the main purpose of electronic banking, consumers
could conduct business interactions with banks via communication devices and
could have access to services without going to bank branches. The operation of
electronic banking been focused on banking services until the 1990s. Except for
certain services that could be completed via an ATM, consumers were still
required to go to bank branches to handle most business. Over recent years, the
well-developed Internet technology has brought the rise of a brand-new type of
financial service system, namely, Internet banking. The first security first
network bank (SFNB) in the world started to operate online in 1995.

With technological innovation and changes in life styles, business interactions

between consumers and banks are gradually changing from the handling of
business by customers in person in physical banks to having access to the
financial services they need directly via technologies such as Internet banking or
mobile banking [1, 2]. [3] stated that the future development trend of banks will

43
be that the “bank will not only be a place, but a kind of behaviours”. That is to
say, the business model in which a banking industry operator provides services
to consumers through a physical bank will be phased out, while consumers’
needs for financial services will be satisfied via digital, Internet-based, and
mobile financial services.

In recent years, financial technology has set off a huge wave all over the world
and such disruptive innovation that combines technology with financial services
has posed a threat to the business model of the traditional financial sector. Amid
this wave, the banking industry was the first to bear the brunt. Fintech could
reduce the dependence on traditional financial institutions and provide low-cost
and higher-value financial services. However, it will incur the issues that are
most concerned by consumers, including privacy, information security, and
consumer protection, if the involvement and supervision of financial institutions
is inadequate . Overall, the rise of Fintech has brought about a great impact on
the banking industry, which has changed the banking ecosystem and even
subverted previous business models and service modes. In view of the above, in
order to follow the future trend and satisfy consumers’ requirements, banking
operators must make adjustments and improvements to existing financial
services.

Internet banking is a financial service that has been developed by banking

operators for many years, and which provides real-time, fast and convenient
services. Consumers can have access to various banking services such as online
transfers, payment of bills, currency exchange services, enquiries of account
data, and financial investments after applying for a set of accounts and
passwords of their own Thanks to Internet banking, consumers can significantly

44
reduce the waiting time required for over-the-counter service and can be free
from the limitations of the business hours of the bank.

With the development of Internet banking, consumers have already gotten used
to the services it provides. In addition, Internet banking provides a greater
security due to highly protected account privacy in the system and well-
developed dispute settlement mechanisms, claim laws and regulations, as
compared with early forms of Fintech. However, in the wave of Fintech, the
inherent system defects of Internet banking will hinder its development, such as
restricted amounts of online remittance and incompatibility with the system of
the device used by users. Based on the above, this study aimed to identify the
key factors influencing the use of Internet banking. Discussions were conducted
from the aspect of business operator and consumer use, respectively. The degree
of recognition of such factors by experts and consumers was integrated through
expert questionnaires and consumer questionnaires, and the differences and
similarities between the two were also analyzed. The research results could be
used as a basis for banking operators to develop strategies for improving
Internet banking, as well as a reference indicator for consumers in using Internet
banking.

Nowadays, consumers can effortlessly search and compare the websites of

banks in terms of the quality and content of the services provided. Compared
with physical bank branches, the rapid growth of Internet banking could bring
banking industry operators great benefits, as well as fierce horizontal
competition. For banking industry operators, it is of great importance to know
expert business strategies for Internet banking and the basis for consumers to
use Internet banking. Accordingly, this study aimed to address the following
research problems:

45
Internet banking enables customers to have access to remote financial services,
such as enquiries of account data, payment of bills, financial payments, and
online transfers, not in bank branches, but through the Internet via information
devices such as PCs, Notebook PCs, and mobile devices [11]. With Internet
banking, there is neither a physical branch nor counter staff, and consumers can
have access to the transactions or services they need anytime and anywhere [12,
13]. By providing Internet banking services, bank operators can benefit from

RESEARCH GAP

The present study employed SLR as the process involving its conduct is
structured replicable transparent and literature in nature furthermore it provides

46
an objectives is the work people basis for elimination the studies that are
not of interest to the author. Previously, Transfer field that traditional
reviews does suffer from the subjectivity of the authors take s the studies that
are not of interest to the author. Previously, transfer field take kind objective
electronic databases makes it easier for researchers to carry out systematic
research in a timely manner. The present study is a combination of SLR and
Bibliometric analysis. First, we executed the SLR by inputting the
required keyword in the Scopus database and later on systematically the
sample set of research papers using the inclusion and exclusion criteria. The
present

Conceptual Frame work of the study : T

The conceptual frame work is informed by literature reviews experiences or

experiments it may include emergent ideas that are not yet ground in the
literature that re not be coherent with the paper theoretical framing one or more
formal theories well as other and findings from the literature it use to show
relationship among these ideas and how they relate to the study A review paper
Succinctly reviews recent progress in a particular topic and Summaries the
current state of knowledge it is based solely on others published be organized
around and related directly to thesis or as noted above the roles of a conceptual
frame work include arguing for the of a topic its multiple the selection of
theories and methods within a methodological framework that makes sense for
the topic allows for and providing you the researcher with a frame work and set

47
 Limitations of the study :

A Limitation is something that holds you back like a broken leg that keeps you
off the dance floor during yours study scope and de limitations are the sections
where you define the Broder parameters and boundaries understand for placing
research findings in context interpreting the validity of this goes beyond listing
the magnitude and direction of random a major limitation is the number of
statistical Degrees of freedom which is determination by number of years of
data less one

Research Methodology

48
Introduction : The last decade has seen tremendous growth in use of internet
and mobile phone in India. Increasing use of internet, mobile penetration and
government initiative such as Digital India are acting as catalyst which leads to
exponential growth in use of digital payment. Electronics Consumer transaction
made at point of sale (POS) for services and products either through internet
banking or mobile banking using smart phone or card payment are called as
digital payment. The consumer perception of digital payment has a significant
and positive impact on adoption of digital payment.

Research Methodology : The data is based on both primary and secondary

source of information Data Collection Tool for primary data was structured
questionnaire with a set of question related to research study was circulated
online to gather all Relevant information Convenient sampling method was used
on respondents who were surveyed through structured
questionnaire .Respondents include most of the college student in the region
who use digital payment various outlets and for inter -bank payment certain
useful finding were made from secondary data collected using previous research
study on similar topics and others websites

In a dissertation, thesis, academic journal article (or pretty much any formal
piece of research), you’ll find a or section which covers the aspects mentioned
above. Importantly, a good methodology chapter in a dissertation or thesis
explains not just methodological choices were made, but also explains they
were made is a take be issue another UPI payment is ATM People In other
words, the methodology chapter should the design choices, by showing that the
chosen methods and techniques are the best fit for the research aims and

49
objectives, and will provide valid and reliable results. A good research
methodology provides scientifically sound findings, whereas a poor
methodology doesn’t. We’ll look at the main design choices below contract .the
Research methodology is the path though which Research Methodology is the
path though which Researchers need to conduct their it shows the path through
which these Researchers formulate their problem and objective and present their
result from the data obtained during The study period this research design and
methodology also shows How the Researchers out come will be obtained data
sources and secondary data population consideration and sample Statement of
the problems : The purpose of this research is to investigate customer
experiences with mobile payments. In particular, the study identifies and
classifies common sources of satisfaction and dissatisfaction associated with the
use of mobile payments, and compares them to the determinants of satisfaction
with technology-based services. The critical incident technique was applied to
identify and classify the most common sources of satisfaction and
dissatisfaction with mobile payments.. In particular, the study participants were
asked to describe their satisfying or dissatisfying experiences with mobile
payments Digital payment is Financial exchange that takes place online
between buyer and sellers the content of this exchange is usually some from of
digital financial instrument credit card number digital cheque or digital cash that
is backed by bank or intermediary or by a legal tender E-payment system in
India has shown tremendous growth but still there has lot to be done to increase
its usage still 90% of the transactions are case base so there is a need to widen
the scope of digital payment innovation incentive customer convenience and
legal frame work are the four factors which contribute to strengthen the E-
payment system Studies show that Kerala has 96.97% literacy rate but has this
is helped in improvement of digital payment and similar transaction this aim of
study also Focuses on the problem challenges and perception of digital payment
system the study also focus on the different modes of the digital payment system

50
is most preferred by the customer as an easy the customer as an easy problem
mechanism hence the problem is stated A study on and Challenge digital
payment system as ease of payment system as a ease of payment mechanism
among customer in e-commerce scenario with special reference to
RAMANAGARA District A Statement is a document outlining all out standing
unpaid invoices or bills for a certain customer unlike invoice statements are
typically sent or made available at certain intervals for example many
businesses send statement at the end of each month or quarter to individuals
who have an outstanding balance to make Digital payment accessible to every
one they should be available through multiple channels and must move beyond
the current smart phones or digital payment using feature phones amongst rural
citizens dues to poor understanding of bank account number language barrier
and most importantly lack assistance to bank handhold them through the
journey this competition asks

Objectives of the study :

➢ • To study the Consumer Behaviour towards Digital Payment Service

offered by UPI Pay
➢ To identify the customer preferences and usage pattern with regards to
Digital Payment System
➢ To examine the customer awareness and perception towards UPI Pay
(Digital

Payment System) in RAMANAGARA City

➢ To study the challenges faced and barriers in adoption of UPI Pay (Digital
Payment

51
 System) in RAMANAGARA City

➢ To explore the reasons for adoption of UPI Pay (Digital Payment

System)in RAMANAGARA City and customer satisfaction regarding the
same.
➢ To study whether the Google Pay has replaced direct net banking.

➢ . To understand the security system prevailing in UPI Pay

➢ To focus on any problems encountered by customers while making

payment

➢ To find out the digital wallets those are mostly preferred by respondents

➢ To known the awareness and use of UPI /BHIM services in the students
of

RAMANAGARA

➢ To known which UPI /BHIM Apps are commonly used by student

➢ To known the awareness of UPI / BHIM payment system 200 student

were selected from RAMANAGARA city the gender wise response were
received
➢ To find out the most preferred mode and application for digital
payments by the people
➢ To find out the frequency of digital payment by different age and income
groups

➢ To find out the problem encountered while using UPI

➢ To suggest the measures for attracting more consumers

Scope of the study : The present study is restricted to RAMANAGARA City.
Considering the emerging scope of digital revolution in India, the need for
current study was felt to evaluate the adoption and performance of digital

52
wallets in the Shivamogga. The study is useful in determining how best to
embrace digital payment by UPI Pay and to enhance customer satisfaction, the
gaps need to be addressed. The study could also give an insight on how
customer satisfaction is critical to the success of E-transaction in terms of
increasing market share and increasing profitability in the face of stiff
competition. The study could be crucial to emerging cashless payment system in
society and in terms of the challenges ahead of them, since customer satisfaction
is paramount. The study enhanced the researchers knowledge in customer
satisfaction towards using Google Pay. The present study was conducted in the
month of March to May2023. 50 respondents are taken for the survey from
different places of RAMANAGARA City The study has been undertaken to
know about the UPI payment in the
Coimbatore district. UPI is an abstraction over standard payment transfer
mechanism like IMPS. It helps to hide sensitive account information along with
consumer. Also, UPI is very fast and does not involve the costs like debit card or
net banking The scope of the study includes five variables namely User’s
perceived usage risk, compatibility of application and OS, customer
demographic profile, comparative advantage over other apps and external
threats to the usage of UPI. Based on these five variables, the usage of UPI has
been analysed. Has developed and is the owner of integrated payment plat from
that is used by PSP to provide service relating to on boarding of merchant
facilitation of electronic payment through different modes such to effects
payment to merchant including recurring payment on a subscription model and
e- mandate payment from customer wallets smart collect effected through inter
alia the national Electronics fund Transfer NEFT System Real time Gross
settlement RTGS System and immediate payment Service and recurring
payment through modes such as e- NACH Emandate services hereinafter
referred to as the Merchant is engaged in the business of processing of acquiring
transactions other banking services the Merchant is desirous of obtaining

53
payment gateway services UPI Receiving payment in the Respect of services
render by the Merchant customer payment Amount shall mean the total amount
paid by the customer toward the Merchant Service which will include inter
charges and others taxes duties coast charges and others taxes duties coast
charges and expenses in of the Merchant Services is a king

HYPOTHESIS : The tenet of this study is two pronged. First, it is Believed that
the facility of UPI supports the financial literacy Secondly it is also Believed that
UPI pushes for Financial literacy which causes FI to support the ED of the poor
Voluntary financial
Exclusion Accessibility cost and convenient are the determinants which causes
UPI TO ITS present shape UPI to its present shape UPI is so cheap and
convenient that people are encouraged to use it more

H1: Perceived Usage Risk has a significant Reference on the usage of UPI

H2: Compatibility of Apps & OS has a significant Reference on the usage of

UPI

H3: Customer’s Demographic Profile has a significant Reference on the usage

of UPI

H4: Comparative Advantage over Other Apps has a greater Reference on the
usage of UPI

H5: There is no variance between customer perception toward UPI service and
traditional services

H6: There is variance between customer perception toward UPI service and
traditional services

54
H7: There is a relationship between occupation of the respondent and using
UPI Services

H8: There is a no relationship between education of the respondent and using

UPI Services

H9: There is a relationship between education of the respondent and using UPI
Services Sampling Design : Research is designed for two sampling plans. It
consists of three divisions. i.e., sampling unit, sampling size and sampling
procedure

Sampling procedure : Empirical field studies required collection of first Hand

information of data pertaining to the study from the field. These units of study
include geographic area of RAMANAGARA city. The aggregate of the all the
units pertaining the study is called the population or the universe. Population is
the largest group to be studied. It is the total collection of elements about which
we wish to make inferences. A member of population is an element. It I subject
on which measurement is taken. It is the unit of study, a part of population is
known as a sample. The process of drawing a sample from a larger population is
called sampling

Sample units: This particular survey was directed at only in RAMANAGARA

Sample planning : Sampling techniques may be classified as non-probability

and probability techniques. Nonprobability sampling techniques relay on the
research judgments. Consequently, they do not permit an objective evaluation of
the precision of the sample results and estimates obtain are not statistically

55
project able to the population. The Commonly used non-probability sampling
techniques include convenience sampling, judgment of sampling quota
sampling

Sample size : The sample size is of 50 respondents consisting of Customer in

RAMANAGARA CITY

Sources of Data : For the purpose of present study data from two sources have
been gathered namely primary and secondary data. The executive order on GCP
defines source data source as any information in original record and certified
copies of original record of clinical findings observations or activities in a
clinical trial necessary for the reconstruction and evaluation of the trial

Primary Data : Primary data are original data collected for the purpose of a
particular study. In the present study primary data have been collected by
personal interview method with the help of questionnaire. Primary data is a data
that is collected by a researcher from first-hand sources, using methods like
surveys. This study collects data using various questionnaire through surveys
from merchants in . Primary data are original data collected for the purpose of a

56
particular study. In the present study primary data have been collected by
personal interview method with the help of questionnaire. Primary data is a type
of data that is collected by researchers directly from main sources through
interviews, surveys, experiments, etc. Primary data are usually collected from
the source—where the data originally originates from and are regarded as the
best kind of data in research.

Secondary data : : Primary data is a type of data that is collected by researchers

directly from main sources through interviews, surveys, experiments, etc.
Primary data are usually collected from the source—where the data originally
originates from and are regarded as the best kind of data in research.

The sources of primary data are usually chosen and tailored specifically to meet
the demands or requirements of particular research. Also, before choosing a data
collection source, things like the aim of the research and target population need
to be identified. Secondary data sources are so numerous that they’ve started
playing an increasingly vital role in research and analytics. They are easier to
source than primary data and can be repurposed to solve many different
problems. While secondary data may be less relevant for a given task than
primary data, they are generally still well-structured and highly reliable

Demographic Characteristics

: Demographics are statistics that describe populations and their characteristics.

Demographic analysis is the study of a population-based on factors such as age,
race, and sex. Demographic data refers to socioeconomic information expressed

57
statistically, including employment, education, income, marriage rates, birth and
death rates, and more.

Governments, corporations, and non-government organizations use

demographics to learn more about a population's characteristics for many
purposes, including policy development and economic For example, a company
that sells high-end RVs may want to reach people nearing or at retirement age
and the percentage of those who can afford their product

Demographic variables

AGE
20-25 years 36 34.2
25-30 years 38 36.2
30-35 years 16 15.2
35-40 years 10 9.5
Total 100 96

Gender

Male 56 53.3
female 49 46.6
Total 100 100

58
EDUCATION

Secondary 3 2.8
Higher Secondary 2 1.9
Under graduate 40 38
Post graduate 28 25.7
Professional 33 31.4
Total 106 100

Occupation

Govt Employee 9 8.5

Private Employee 56 52.3
Self Employee 22 20.9
Student 17 16.1
Others 2 1.9
Total 106 100

59
Limitations of the study :

➢ Small size sample

➢ Time is limited

➢ The study limited only RAMANAGARA city

➢ Less insert Respondents in filling their Opinion

➢ Due to time constraints, the sample size was limited to 50 customer.

➢ Aversions of Respondents Toward filling the Questionnaires

➢ The study is Restricted only to customer Level

➢ Time was a big constraint

➢ The only student from age 18-28 Selected for the study

The research was carried based on primary and secondary data. The primary
data for research objectives was collected from the samples based in
RAMANAGARA city only. Though Hyderabad is one of the most significant
cities of the country and a commercial hub of south India, with only 183
samples selected from the city cannot be considered as a complete
representation of the population of the country. However, the objective of the
survey was to verify the customers perceptions on digital payments with regard
to the concept of general banking. Thus, this may not create obstruction in
achieving the desired objective even if city RAMANAGARA city cannot
replicate other major banking

60
  The study is confined to the respondents (customers) of Private sector banks
in RAMANAGARA district.

 The study is limited only to the Private banks and all other sectors are ignored
and not taken for the study, so limitation from generalisation takes places in
this study.

 The primary data were collected through interview method which is subjected
to recall bias.

Data Analysis and Interpretation

Introduction : UPI Extended as Unified Payment interface is attaining

popularity and is becoming one of the most chosen methods of digital
transactions in India There are many apps which provide users this facility apart
from this many banks have tied up with UPI and customer can use this plat from
through bank apps as well Many chat plat from and mobile wallets in the market
are offering UPI payment

61
 Analysis of Data and Interpretation

Analysis is the process of breaking a substance into smaller part of it. The data
serves as the basis for analysis. Analysis of data means studying the original
material to discover the inherent facts. It helps to know the things easily. This
data collected by preparing questionnaire and meet the respondents after this
analysis and interpretation is made by gathered data. The research data becomes
meaningful only after being and interpreting the collected data. Collecting inner
expressions and respondents for the purpose of knowing their attitude towards
particular aspects of subject. Interpretation is the action of explaining the
meaning of something. The interpretation of data means an explanation or way
of explaining the collected data. This can be and interpreted using tables, charts
and graphs. It helps to interpret the
findings in a better manner.
usa of is nowreforms along with enhanced India’s facing banking
systemmajor structural
Introduction :

Table NO 4.1 Table Showing on the basic Gender factor

Gender NO of Respondents Percentage

male 37 74
Female 13 26
Total 50 100

62
 Chart NO 4.1 showing on the showing on the Basic of Respondents Gender
factor

Chart Title
80
74

70

60

50

40

30 26

20

10

0
Male Female

Interpretation

The Above Table and graph shows that 74% of the respondents are Male and
remaining 26% of the respondents are Female. Here Its Interpret that Majority
of the Respondents are Male (74%). Now a day Male Respondents are doing
Digital payment more that female respondents.

63
Table NO : 4.2

Table NO : 4.2

Table shows on the basis of Respondents s Marital Status

Marital Status NO of Respondents Percentage
Married 19 38
Un married 31 62
Total 50 100

64
 percentage

Married
38%

UN Married
62%

Married UN Married

Interpretation

From the above table is show that 38% of the respondents are married and
62% of the respondents are unmarried

Its Interpret that Majority of the Respondents are unmarried Because

most of the respondents who are participate in the survey are younger
generation and those are all Students.

Table No : 4.3

Table Show on the basis on of Respondent s Age Group

65
Age Group No of Respondents percentage
Below30 23 46
Between 31-40 7 14
Between 41-50 19 38
Above 51 years 1 2
Total 50 100%

Chart NO 4.3 Graph shows on the basis of Respondents Age Group

percentage

2
38 46

16

Below30 Between 31-40 Between 41-50 Above 51 years

66
 Interpretation

From the above observation it is clearly under Standards That 46% Respondents
are group of Below 30,14% respondents age group of between 31to 40 , 38 %
respondents age group of between 41 to 50 and 2%respodents age group of
above 51 years

Its interpret that majority of the Respondents are from the age group below 30
(46%) Because highest percentage of respondents are students

Table NO : 4.4 Table shows on the basis of the Respondents Educational

Qualification

Educational NO OF Respondents Percentage

Qualifications
SSLC 4 8
PUC 8 16
Graduation 16 32
Post Graduation 14 28
Other 8 16

67
 Chart Title

200
180
160
140
120
100
80
60 100
40
20 16 32 28 16
8
0
SSLC PUC Graducation post others Total
Graduation

Percentage No of Respondents

Interpretation

Out of the 50 respondents, 8% of the respondents educational qualification is

SSLC, 16% of the respondents educational qualification is PUC, 32% of the
respondents educational Out of the 50 respondents, 8% of the respondents
educational qualification is SSLC, 16% of the respondents educational
qualification is PUC, 32% of the respondents educational qualification is
Graduation, 28% of the respondents educational qualification is Post graduation
and 16% of the respondents educational qualification is Others. Its interpret that
majority of the respondents are Graduates & Post Graduates. Here we can
conducted that major survey is conducted in College campus only. So
percentage of Graduates and Post Graduates are high

Table NO : 4.5 Table shows on the basis of Respondents Monthly

income

68
 Monthly Income in No of Respondents Percentage
Less than 10000 15 30
Rs 10000-Rs15000 18 36
Rs 15000-Rs 20000 7 14
Above Rs .20000 10 20
Total 50 100

PERCENTAGE

50
50
40
30
15 18
20
10
7 10
0
LESS THAN
10000 RS 10000 -
RS 15000 - RS Percentage
RS 15000
20000 ABOVE RS
.20000 TOTAL

Interpretation

As per the above analysis it‘s understood that, 30% of the respondents monthly
income group less than Rs.10000 per month, 36% of the respondents monthly
income group Rs.10000 – Rs.15000 per month, 14% of the respondents monthly
income group Rs.15000 – Rs.20000 per month and 20% of the respondents
monthly income group Above Rs.20000 per month. Here Its Interpret that

69
 Majority of the Respondents monthly income is between Rs 10000 to Rs15000
per month

Table NO : 4.6 Table shows area of Respondents

Particulars No of Respondents Percentage
Rural 5 10
Urban 45 90
Total 50 100

Chart NO : 4.6 Graph shows on the basis of area of Respondents

CHART TITLE
45
45
40
35
30
25
20
15
10
10
5
0
Rural urban

70
 Interpretation

The above table and chart states that 90% of the respondents are from
urban area and 10% of the respondents are from rural area. Its interpret that
majority of the respondents are belong to Urban area. Survey was conducted
Ramanagara only so percentages of respondents are obviously belong to urban
area

Table No: 4.7 Table shows respondents have account in UPI - Pay
App

Particular No of Respondents Percentage

Yes 44 88
NO 6 12
Total 50 100

Chart Title

48

100

62

yes no Total

71
Interpretation

The above table and chart states that 88% of the respondents are having
UPI- Pay account and 12% of the respondents are not having UPI pay account.
Its interpret that majority of the respondents are having UPI Pay app. After
demonetization its necessary to addict people to Digital payment system. So
most of the respondents having UPI app

Table No: 4.8 Table shows how long respondent have been the customer
OF UPI PAY

Particular NO of Respondents Percentage

One month 15 15
2 to 5 month 4 4
6 to 8 month 19 19
Above 8 month 6 6
Total 50 50

72
 Chart Title
38
40
35 30
30
25
20
12
15
8
10
5
0
one month 2 to 5 month 6 to 8 month Above 8 month

Interpretation

The above table and chart states that, 38% of the respondents know upi- Pay
from 6 to 8 months, 30% of the respondents know UPI- Pay from one month,
12% of the respondents know UPI- Pay from more than 8 month and 8% of the
respondents know Google - Pay from
2 to 5 months. Its interpret that majority of the respondents are have been the
customer of Google – Pay 6 to 8 months (38%

Table No: 4.9 Respondents visited in UPI - Pay to do most

Particular NO of Respondents Percentage

Money Transfer 19 38

73
 Mobil Recharge 13 26
Shopping 5 10
Online ticket booking 3 6
Bill payments 10 20
Total 50 100

Chart No: 4.9 Graph shows on basis of Respondents visited in UPI- Pay to do most

Chart Title
38
40
35
30 26

25 20
20
15 10
10 6

5
0
Money transfer Mobile Recharge Shopping online Bill payment
ticketbooking

Interpretation

The above table and chart states that 38% of the respondents visited for Money
transfer in UPI- Pay , 26% of the respondents visited for Mobil Recharge in
UPI- Pay, 20% of the respondents visited for Bill payments in UPI- Pay, 10
respondents visited for shopping in UPI- Pay and 6% of the respondents visited
for online ticket booking in UPI- Pay. Its interpret that majority of the
respondents are visited for Money transfer in UPI– Pay. Now a day‘s people
didn‘t carry to much of cash. Instead cash they have digital money to meet their
daily needs. So most of the respondents use UPI pay for transfer money and
other things

74
Table No: 4.10 Respondents use booked any Movie Ticket through UPI -Pay

Particulars No of Respondents Percentage

Yes 24 48
No 26 52
Total 50 100

Chart No: 4.10 Graph shows on the basis of Respondents use booked any Movie
Ticket through UPI Pay

CHART TITLE

FEMALE 26

MALE 74

0 10 20 30 40 50 60 70 80

Interpretations

The above table and chart states that, 48% of respondents opined that they
booked movie ticket through UPI pay and 52% of respondents opined that they
didn‘t booked movie ticket through UPI pay Its interpret that majority of
respondents opined that they didn‘t booked movie ticket through UPI pay

75
 Table No: 4.11 Table shows respondents use any other digital payment account

Particulars NO of Respondents Percentage

Yes 24 48
No 26 52
Total 50 100

Chart No: 4.11 Graph shows on the basis of Respondents use any other digital
payment accounts

Chart Title

48

100

62

yes no Total

76
 Table No: 4.12 Table shows Respondents use other digital payment account

Particular No of Respondents percentage

Phone pe 6 12
Bhim 25 50
Paytm 11 22
Others 08 16
Total 50 100

Chart No: 4.12 Graph shows on the basis of Respondents use other digital payment

Account

CHART TITLE

OTHERS 16

PAYTEM 22

BHIM 50

PHONEPE 12

0 10 20 30 40 50 60

77
Interpretation

The above table and chart states that, 50% of the respondents use Bhim Apps,
22% of the respondents use Paytm App, 16% of the respondents use other apps
and 12% of the respondents use phonepe. Its interpret that majority of the
respondents are using Bhim App other than UPIpay. Because Bhim App is
promoted by Central Government of India. So they trust on that app

Table No: 4.13 Table shows quality services provided by UPI – Pay

Particular No of Respondents Percentage

Highly satisfied 8 16
Satisfied 42 84
Somewhat Satisfied 0 0
Un satisfied 0 0
Total 50 100

Chart No: 4.13 Graph shows on the basis of Respondents quality services
provided by UPI- Pay

78
 CHART TITLE
Series1 Series2

140

120

100 42

80

60

40 84

20 8
16
0 0 0
Highly satisfied Satisfied somewhat satisfied unsatisied

Interpretation

The above table and chart states that, 84%^ of the respondents are Satisfied with
quality services provided by UPI- Pay and 16% of the respondents are Highly
Satisfied with quality services provided by UPI- Pay. Its interpret that majority
of the respondents are Satisfied with quality services provided by UPI– Pay.
Google Pay app is providing excellent services to its subscribers so most of the
people are satisfied with their services

Table No: 4.14 Table shows how often Respondents use UPI- Pay App
Particular No of Respondents Percentage
Often 28 56
Very often 12 24
Rare 6 12
Very rare 4 8
Total 50 100

79
 CHART TITLE

100
100
80
56
60
40 24
20 12 8
Series1
0
often very often Rare very rare Total

Interpretation

The above table and chart states that 56% of the respondents often use UPI- Pay
App, 24% of the respondents very often use UPI- Pay App , 12% of the
respondents rarely use UPI- Pay App and 8% of the respondents very rarely use
UPI- Pay App Its interpret that majority of the respondents often use UPI- Pay
App. As we stated in the previous question Its quite common most of the
respondents are addicted to Digital Payment system. So they do often use UPI
pay to do payment.

Chart No: 4.15 Graph shows on the basis of Respondents feel while you using
UPI - Pay App

80
 Particular No of Respondents percentage
Excellent 36 72
Good 13 26
Average 1 2
Terrible 0 0
Total 50 100

Chart Title

72
1

100 2
3
4
5
26

0 2

Interpretation

The above table and chart states that, 72% of the respondents feel excellent
about UPI- Pay app, 26% of the respondents feel good about UPI- Pay app and
2% of the respondents feel average about Google - Pay app. Its interpret that
majority of the respondents feel excellent about Google - Pay app, as we
mention in the previous interpretation Features of UPIPay is high and standard
so people feel excellent while using UPI pay app.

81
 Table No: 4.16 Table shows charges for money transfer to bank

Particular NO of Respondents Percentage

0.5% 8 16
1% 24 48
2% 18 36
Above2% 0 0
Total 50 100

CHART TITLE

48
36

16

O.5% 1% 2% ABOVE2%

Interpretation

The above table and chart states that, 16% of the respondent says 0.5% charged
to transfer money to bank, 48% of the respondent says 1% charged to transfer
money to bank and 36% of the respondent says 2% charged to transfer money to
bank. Its Interpret that Majority of the Respondents opined that UPI pay charged
1% for Money transfer to one bank to another bank. I didn‘t agree with this
because UPI Pay didn‘t charge any charges for Money transfer transaction.

82
Table No: 4.17 Respondents opinion about service offered by UPI – Pay

Factors Very good Good Average Not bad

MoneyTransfer 64 24 12 0
MobileRecharg 40 16 32 12
e
Online Booking 44 32 24 0
Online payment 18 26 40 16
Online shopping 40 24 26 10

Chart No: 4.17 Graph shows on the basis of Respondents opinion about service
offered by UPI – Pay

Chart Title
70 64

60

50 44
40 40 40
40
32 32
30 24 24 24 26
16 18 16 16
20
12 12 10
10
0 0
0
money transfer mobile Recharges online Booking online payment online shopping

Series1 Series2 Series3 Series4

83
 Interpretation

Interpretation The above table and chart states that 64% of respondents opines
very good for money transfer services of upi- Pay app, 40% of respondents
opines very good for Mobile recharge services of Google - Pay app, 44% of
respondents opines very good for Online booking services of Google - Pay app,
40% ofrespondents opines average for online payment services of upi- Pay app
and 40% of respondents opines very good for online shopping services of upi-
Pay app. Here we can Interpret that respondents are very good opinion about all
the features offered by Google pay to Public

Table No: 4.18 Table shows overall service of UPI- Pay App

Factors Excellent Good Average poor

Customer 60 20 20 0
Service
Hidden 22 50 28 0
charges
Time 84 8 8 0
available
Promotional 78 22 0 0
schemes
Overall 20 54 24 2
performance

84
 Chart Title

90 84
78
80
70 60
60 54
50
50
40 28
30 22 22 24
20 20 20
20 8 8
10 0 0 0 0 0 0
0
Customer Service Hidden charges Time available Promotional Overall
schemes Performance

Series1 Series2 Series3 Series4

Interpretation

The above table and chart states that, 60% of the respondents opines that
customer services is excellent, 50% of the respondents opines that hidden
charges are average, 84% of the respondents opines that time availability is
excellent , 78% of the respondents opines that promotional schemes is excellent
and 54% of the respondents opines that overall performance is good.. Its
Interpret that Majority of the Respondents are opined that overall of Services of
UPIApp is Excellent

85
 Table No: 4.19 Table shows Respondents awareness towards UPI Pay KYC

Particular No of Respondents Percentage

Yes 48 96
NO 2 4
Total 50 100

120

100
CHART TITLE
80

60
96
40

20

0 4
Yes NO

86
 Interpretation

The above table and chart states that, 96% of the respondents are aware about
UPI- Pay KYC and 4% of the respondents are not aware about KYC Its
interpret that majority of the respondents are aware about UPI - Pay KYC (96%)

Table No: 4.20 Table shows Respondents expect any changes in UPI- Pay App

Particular No of Respondents Percentage

Yes 35 70
NO 15 30
Total 50 100

Chart No: 4.20 Graph shows on the basis of Respondents expect any changes in
UPI - Pay App

Chart Title
80

87
 70

60

50

40

30 70

20

10
30
0
Yes NO

Interpretation

The above table and chart states that, 70% of the respondents expect changes in
UPI- Pay apps and 30% of the respondents expect nothing. Its interpret that
majority of the respondents expect changes in UPI - Pay apps

88
Findings Suggestions and conclusions

Introduction

In April 2009, National Payment Corporation of India (NPCI) was formed to

integrate all the payment mechanisms in India and make them uniform for all
retail payments. By March 2011, RBI found out that in India, only six non-cash
transactions happen every year by an individual citizen while 10 million
retailers accepted card-based payment. Around 145 million families have no

89
access to any form of banking. There is also the problem of tackling black
money and corruption that happens mostly in cash.

Findings

• 74% of the respondents are Male

• 62% of the respondents are unmarried

• 46% Respondents age group of Below 30

• 32% of the respondents educational qualification is Graduation

• 36% of the respondents monthly income group Rs.10000 – Rs.15000 per

month

• Majority of the respondents are belong to rural area

• 88% of the respondents are having UPI- Pay account

• 38% of the respondents know UPI- Pay from 6 to 8 months

• Majority of the respondents are visited for Money transfer in UPI– Pay

• Majority of respondents opined that they didn‘t booked movie ticket through

UPI Pay

• Majority of the not use other digital payment accounts

• Majority of the respondents are using Bhim App other than UPI pay

• Majority of the respondents are Satisfied with quality services provided by

UPI – Pay

• 56% of the respondents often use UPI- Pay App

• 72% of the respondents feel excellent about UPI- Pay app

90
• 48% of the respondent says 1% charged to transfer money to bank

• 96% of the respondents are aware about UPI- Pay KYC

• 70% of the respondents expect changes in UPI- Pay apps

Suggestions

• Government have to bring transparency and efficiency in e-payment system,

strategies used by government and RBI to encourage cashless transactions by

licensing payment banks, promoting mobile wallets and withdrawing service
charge on cards and digital payments. A financial literacy campaign should be
conducted by government time to time to make population aware of benefits of
electronic payments

• The suggested that the government should bear the charges regarding mode of

payment like cashless transaction at airlines, hotels, shopping malls and

other private e-payment business establishment and people illiterate of
cashless transactions

• This is to encourage the public to go cashless. It also suggested giving

concessions to encourage net banking, e-payment, e-wallet, UPI Pay, another

alternative et

• The other suggestion include –heavy transactions of revenue, excise,

departments should the made through net banking NEFT, RTGS swiping
machines should be supplied to all vat dealers to accept card based cashless
payment market yard and cooperative societies should make online payment to

91
 farmers accounts cooperative societies should sell goods to farmers through
cashless payments.

• All ration shops milk sellers and other should accept mobile payments.

Coupons and mobile payment system should be introduced at Bazaars, special

point of sale machines and apps should be introduced for law cash transactions
like vegetables provisions

• Payments for gas cylinders should be made through online only.

• The government made a task force to suggested people helps in all districts to

solve the public problem and the public should the enlightened about online
mobile and cashless payments

• It saves the government substantial costs in printing and circulation of

currency notes.

• Increased liquidity of many with the banks makes then lower their interest

rates puts the huge amounts of cash deposited with then to some production
use

Conclusion

92
Transactions using Google Pay are secure as Google keeps all payment
information on secure servers. Customer full card details are never stored on
their phone or shared with merchants when they use Google Pay. Merchants are
only provided with Customer Virtual Account Number. When Google Pay is
used for transactions a confirmation appears in the app which can assist
customer to detect suspicious activity sooner. This alert contains where the
transaction occurred along with the merchant‘s name and the amount of the
payment or refund

Many respondents felt that it would be really necessary to educate over the areas
related to cashless payments. Awareness is all well and good, but some people
will still need help to understand how to install and use digital payment systems.
Although it would be impossible for any country to become a cashless economy
in the short amount of time since, it is definitely something the country can look
forward to. The transformation of the current payment method to a total cashless
one may not be possible in the near future, but continuous innovation in
technologically aided payment system will certainly expand the society‘s
accessibility to cashless payment

The benefits of this move have now started trickling in with more and more
people switching to digital modes of payment like cashless receiving and
making payment. India is gradually transitioning from a cash centric to cashless
economy. Cashless digital transactions are traceably there for easily leaving no
room for the circulation of black money. The whole country is undergoing the
process of modernization in money transaction with e-payment service gaining
unpredicted momentum. A larger number of business even street vendors are
now accepting electronic payments, promoting the people to learn to transact the
cashless way

93
 at a faster peace than ever before

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Engineering (IJITEE) ISSN: 2278-3075, Volume-8 Issue-6

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Omar Alaeddin (2023) -" From Physical To Digital: Investigating Consumer
Behaviour Of Switching To Mobile Wallet " Polish Journal Of Management
Studies Vol.17 No.2

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 Questionnaire

Respected Sir / Madam

I amParikshith km. S Student of Final year MBAStudent of Presidency

university Bangalore’s a part of my academic study I have undertaken a project
report on “A Study on Customer Perception towards UPI l Payment with The
reference to Ramanagaram” A study under the guidance of Mr .Mohammed
Mansoor Faculty member, Department of PG studies and research in Master of
Business Adminstration Presidency university Bangalore

I request you to fill the following questions and do the needful. The information
provided by you will be used strictly for academic purposes. Thanking you,
Name.

, Name

: Address

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 Yours
sincerely

Parikshith
km

1 . Gender

• Male
• Female

2. Marital status

• Married
• Un married

3 Age • Below 30
years
• Between 31- 40
• Between 41-50
• Above 51 years

4 Educational qualification
• SSLC
• PUC

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 • Graduate
• Post Graduate
• Others

5. Monthly income •
Less than 10000
• 10000 -1500
• 15000 -20000
• Above 20000

6. Area Belongs to

• Rural
• Urban

7 Do you have any account in UPI Pay APP?

• Yes • NO 8 . From how many years you have been the customer of UPI
Pay APP?

• One Month
• 2 to 5 Month
• 6-8 Month
• Above 8 month

9. for which of the following transactions you UPI PAY App

• Money Transfer

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 • Mobile Recharge
• Shopping
• Online ticket booking
• Bill payment
• All these

10. Have you ever booked any Movie Ticket through UPI Pay ?

• Yes •
NO

11. Apart from UPI Pay do you have any Digital payment account ?

o Yes o
NO

12. If yes please specify ?

• Phone pe
• Bhim
• Paytm
• others

13. Are you satisfied with the quality of service provided by UPI pay

• Highly satisfied
• Satisfied

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 • Some what Satisfied
• Un satisfied

14. How often do you UPI Pay App ?

• Often
• Rare
• Very Rare
• Very Rare

15. How do you feel while you using UPI Pay App?

• Excellent
• Good
• Average
• Terrible

16. How much charge if you send / transfer money to bank ?

• 0.5%
• 1%
• 2%
• Above 2%

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17. What is the opinion about Service offered by UPI pay ?

Procedure Very good Good Average Not Bad

Money
Transfer
Mobile
Recharge
Online
Booking
Online
payment
Online
Shopping

18. what do you think about overall service UPI pay

•
•

ATTIUDE Execllent Good Average poor

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 Customer
Service
Hidden
Changes
Time
Available
Promotional
schemes
Over all
performance

19. Are you aware of UPI Pay KYC ?

• Yes
• NO

20. Do you expecting any changes in UPI pay APP ?

• Yes •
NO

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