®®®MAJOR PROJECT REPORT

On

“A STUDY ON CUSTOMER INSIGHT TOWARDS UPI, WITH SPECIAL REFERENCE

TO NCR REGION”

Submitted in partial fulfillment of requirement of Bachelor of

Commerce [B.Com(Hons.)]

[B.Com(Hons.)]- Semester VI (Morning)

Batch 2021-2024

Submitted to: Submitted by:

Dr. Niti Saxena Insha Saifi

Associate Professor 03314188821

JAGANNATH INTERNATIONAL MANAGEMENT SCHOOL KALKAJI
 STUDENT UNDERTAKING

I, Insha Saifi, student of B.Com(H) of JIMS KALKAJI, hereby declare that I have completed the Project
Report on “A STUDY ON CUSTOMER INSIGHT TOWARDS UPI, WITH SPECIAL REFERENCE TO NCR
REGION” as a part of the course requirement.

I further declare that the information presented in this project is true and original to the best of my
knowledge.

Insha Saifi B.Com(H)

6th Semester Batch

2020-23

03314188821
 ACKNOWLEDGEMENT

A lot of effort has gone into this training report and for that I would like to thank all those who have
contributed in completing this project.

Also, I am highly indebted and extremely thankful to Dr. Niti Saxena, Assistant Professor, JIMS Kalkaji
who as my guide was a constant source of inspiration and encouragement to me. The strong interest
evinced by her has helped me in dealing with the problems I faced during the course of project work.

I express my profound sense of gratitude to them for their timely help and cooperation in completing
the project.

Lastly, I would like to thank my entire beloved family & friends for providing me monetary as well as
non – monetary support, as and when required without which this project would not have completed
on time. Their trust and patience are now coming out in the form of this thesis.
 CERTIFICATE OF COMPLETION

This is to certify that Insha Saifi of B.Com(H), 6th Semester (Batch 2021-2024) has successfully
completed the Project Report titled “A STUDY ON CUSTOMER INSIGHT TOWARDS UPI, WITH SPECIAL
REFERENCE TO NCR REGION” and submitted in partial fulfillment of requirement of Bachelor of
Commerce.

I further declare that the information presented in this project is true and original to the best of my
knowledge.

Dr. Niti Saxena

(Assistant Professor)
 INDEX

NO. CONTENTS PAGE NO.

6
LIST OF TABLES

9
LIST OF FIGURES

EXECUTIVE SUMMARY 12

13
CHAPTER I INTRODUCTION

20
CHAPTER II LITERATURE REVIEW

24
CHAPTER III OBJECTIVES

26
CHAPTER IV RESEARCH METHODOLOGY

28
CHAPTER V ANALYSIS AND INTERPRETATION

CHAPTER VI FINDINGS AND INFERENCES 62

CHAPTER VII RECOMMENDATIONS AND CONCLUSION 65

CHAPTER VIII LIMITATIONS 67

CHAPTER IX 69
BIBLIOGRAPHY

CHAPTER X 72
APPENDIX
 LIST OF TABLES

Table No. TABLES PAGE NO.

Table showing gender of the respondent

5.1 30

5.2 Table showing the age of the respondents 31

5.3 Table showing the monthly income of respondents 32

5.4 Table showing the Education qualification of respondent’s 33

5.5 Table showing Occupational status of respondent’s 34

Table showing the duration of using UPI

5.6 35

5.7 Table showing awareness about UPI 36

5.8 Table showing mode of Advertisement given awareness about 37

UPI

Table showing UPI Applications used by respondents

5.9 38

Table showing the level of satisfaction towards the recharge

5.10 facilities provided by UPI apps 39

Table showing the level of satisfaction towards the Fund transfer

5.11 facilities provided by UPI apps 41
 Table showing the level of satisfaction towards the Bill payment
5.12 facilities provided by UPI apps 42

Table showing the level of satisfaction towards the Balance

5.13 enquiry facilities provided by UPI apps 43

Table showing the level of satisfaction towards the privacy

5.14 provided by UPI apps 44

5.15 Table showing Problems faced while using UPI 45

5.16 Table showing the opinion about services of UPI 46

Table showing would you Recommend UPI to your friends and

5.17 relatives 47

5.18 Table showing reason for not suggesting UPI apps 48

Table showing consumers perception towards Manual banking

5.19 and online banking 49

5.20 Table showing consumers perception towards secured 50

transactions

5.21 Table showing consumers perception towards Time saving 51

Table showing consumers perception towards Convenience in

usage 52
5.22
 Table showing consumers perception towards Service charges 53
5.23

5.24 Table showing consumers perception towards Mobility 54

5.25 Table showing consumers perception towards Growth 55

Table showing consumers perception towards Helps in decision

5.26 making 56

Table showing consumer’s perception regarding the Easiness than

5.27 traditional method of UPI apps 57

Table showing consumers perception towards Payment delay of

5.28 UPI apps 58

Table showing consumers perception towards Discounts and

5.29 cashback of UPI apps 59

Table showing consumers perception towards Transaction

5.30 status of UPI apps 60

Table showing consumers perception towards Raise dispute and

5.31 query regarding UPI apps 61
 LIST OF FIGURES

Figure No. FIGURES PAGE No.

Figure showing gender of the respondent

5.1 30

5.2 Figure showing the age of the respondents 31

5.3 Figure showing the monthly income of respondents 32

5.4 Figure showing the Education qualification of respondent 33

5.5 Figure showing Occupational status of respondent’s 34

5.6 Figure showing the duration of using UPI 35

5.7 Figure showing awareness about UPI 36

5.8 Figure showing mode of Advertisement given awareness about 37

UPI

5.9 Figure showing UPI Applications used by respondents 38

Figure showing the level of satisfaction towards the recharge

5.10 facilities provided by UPI apps 39

Figure showing the level of satisfaction towards the Fund

5.11 transfer facilities provided by UPI apps 41
 Figure showing the level of satisfaction towards the Bill payment
5.12 facilities provided by UPI apps 42

Figure showing the level of satisfaction towards the Balance

5.13 enquiry facilities provided by UPI apps 43

Figure showing the level of satisfaction towards the privacy

5.14 provided by UPI apps 44

5.15 Figure showing Problems faced while using UPI 45

5.16 Figure showing Table showing the opinion about services of UPI 46

Figure showing would you Recommend UPI to your friends and

5.17 relatives 47

5.18 Figure showing reason for not suggesting UPI apps 48

Figure showing consumers perception towards Manual banking

5.19 and online banking 49

5.20 Figure showing consumers perception towards secured 50

transactions

5.21 Figure showing consumers perception towards Time saving 51

Figure showing consumers perception towards

5.22 Convenience in usage 52
5.23 Figure showing consumers perception towards Service charges 53

5.24 Figure showing consumers perception towards Mobility 54

5.25 Figure showing consumers perception towards Growth 55

Figure showing consumers perception towards Helps in decision

5.26 56
making

Figure showing consumers perception regarding the

5.27 Easiness than traditional method of UPI apps 57

Figure showing consumers perception towards Payment delay of

5.28 UPI apps 58

Figure showing consumers perception towards Discounts and

5.29 59
cashback of UPI apps

Figure showing consumers perception towards

5.30 Transaction status of UPI apps 60

Figure showing consumers perception towards Raise dispute

5.31 61
and query regarding UPI apps
Executive Summary:

This study delves into understanding customer insights regarding Unified Payments Interface (UPI) within the
National Capital Region (NCR) region. UPI has revolutionized the way individuals make digital transactions,
enabling seamless and secure peer-to-peer payments. The objective of this research is to examine the factors
that influence customer preferences, satisfaction levels, and adoption rates of UPI in the NCR region. Through a
comprehensive analysis of primary and secondary data, we have gained valuable insights into customer
perceptions, usage patterns, and challenges faced by users. The findings reveal that convenience, security,
transaction speed, and availability of a diverse range of services are pivotal factors driving UPI adoption among
customers. Furthermore, the study identifies opportunities for improvement, such as enhancing user education
and addressing concerns related to network connectivity and interoperability. The insights derived from this
research provide a valuable foundation for businesses, financial institutions, and policymakers to develop
strategies, improve user experiences, and drive further adoption of UPI in the NCR region.
 CHAPTER 1

INTRODUCTION
According to the NPCI, “Unified Payments Interface (UPI) is a system that powers multiple bank
accounts into a single mobile application, merging several banking features, seamless fund routing &
merchant payments into one hood. UPI’s overall importance comes from the intense desire and effort
made by the RBI and the government to create a cost effective, simple and safe digital payment
system that will be used for the large population of the country. The RBI along with the NPCI has
made commendable efforts to spread digital payments culture. According to the RBI, a digital
payment platform should be simple, safe and efficient while carrying out payments. Various criteria
about an ideal payment system were brought out by the RBI in its vision for a future payment system
dreaming a digital transaction economy. From this angle, a remarkable feature of the UPI is that it
satisfies several criteria put forwarded by RBI’s payment system vision of safe, efficient, interoperable,
authorized, accessible, inclusive and compliant with international standards.

We all are used to payment apps like PhonePe, Google Pay, Paytm, etc. these apps have become a
crucial part of our lives. The transaction on these apps takes place by UPI- The Unified Payment
Interface is a single-interface payment system, developed by the National Payment Corporation of
India (NPCI). UPI: Unified Payment Interface is a smartphone application that allows users to transfer
money between bank account. It is a platform where customers can link bank accounts held by
different banks into a single UPI application and use their registered cell phone number to easily trade
between them around the clock. The UPI Platform is a UPI system that operates from multiple banks
accounts in a single mobile application from participating banks, combining multiple banking features
such as seamless fund routing and merchant payments under one roof. The National Payments
Corporation of India (NPCI) developed a single-window mobile payment system (Mobile Payments).
There is no need to enter bank details and other sensitive information every time a customer initiates
a transaction. UPI has introduced new features such as In-App payments, cross-screen QR codes, the
addition of web- based payments, and the extension of the range of services to online payments using
UnionPay- powered e-wallets.

1.1 Introduction

Theories are formulated to explain, predict and understand phenomena and in many cases to
challenge and extend existing knowledge within the limits of critical bounding assumption. The
theoretical frame work is the structure that can hold or support a theory of a research study. The
theoretical frame work introduces and describes the theory that explains why the research problems
under study exist. A theoretical frame work consists of concepts and, together with their definitions
and reference to
relevant scholarly literature, existing theory that is used for your particular study, the theoretical
framework must demonstrate an understanding of theories and concepts that are relevant to the
topic of your research paper and that relate to the broader areas of knowledge being considered.

1.2 Meaning

Unified Payments Interface (UPI) is one of the fastest growing digital payment systems through which
a user can both send and receive money through a Virtual Payment Address (VPA). Uniqueness of UPI
over other digital payment methods like 24*7 and 365 days availability, Easy and convenient to use
and secure gateway attracts the customers of service sector.

1.3 Definition

The unified payment interface is a real-time payment system.it is designed to enable peer-to-peer
inter- bank transfers through a single two click factor authentication process. the interface is
regulated by the reserve bank of India (RBI), India’s central bank. it works by transferring money
between two bank accounts along with a mobile platform.

1.4 Features of UPI-

1. UPI enables personal mobile to be used to be used as a primary device for all payments
including person to person, person to entity, and entity to person. Using UPI. users can
seamlessly make or request payments with ease and security to/from friends, merchants or
pay their bills etc. without the need to share banking credentials. User can consolidate
multiple banking relationships using a single UPI App which makes for good user experience
for users.
2. The payment can be initiated both by sender (payer) and receiver (payee). this enables a
personal mobile to be used to “pay” someone (push) as well as “collect” from someone (pull).
3. UPI allows users to create their unique virtual payment address thus enabling users to make
payments only by providing a payment address without the need to provide sensitive details
like bank account numbers or credentials on third party applications or websites. The
payments can be done using multiple identifiers like virtual payment address, Aadhaar
Number or Account number & Indian financial system code (IFSC)
4. UPI provides a standard set of APIs to enable transactions on UPI platform, thus enabling a
fully interoperable system across all banks, financial institutions and payment systems
without having silos across all banks, financial institutions and payment system without
having silos and
 closed systems. These minimalistic and fully functional APIs allows innovations by payment
service providers to build customized payment solutions for businesses and functionality rich
mobile apps for consumer’s without having to change the core API structure.
5. UPI uses One-click 2-factor authentication for safe and secure payments using a personal
mobile phone without the need for any separate acquiring devices or physical tokens.

1.5 Trends in using UPI Apps

Transactions made using the Unified Payments Interface scaled a new peak in December 2021,
surpassing the previous record set in October when the value of UPI transactions crossed $100 billion
for the first time. According to data from the National Payments Corporation of India (NPCI), 456 crore
UPI transactions worth about Rs 8.27 crore were conducted last month. That compares with 422 crore
transactions worth about Rs 7.71 lakh crore in October and 230 crore transactions worth Rs 5.31 lakh
crore last January. In all of 2021, more than 3,800 crore UPI transactions amounting to Rs 73 lakh
crore were conducted. NPCI now expects the UPI platform to hit 100 crore transactions per day after
the Reserve Bank of India enables the use of UPI wallets for low-value offline transactions.

UPI apps

PhonePe

This is one of the most popular payment apps that allows users to transact using the UPI interface.
This is considered to be one among the most preferred apps for UPI. The app was founded in 2015
and is powered by Yes Bank.

Paytm

This mobile wallet app company has also collaborated with the UPI platform to provide customers the
facility to transact and transfer funds in an easier manner. Customers can add money into their Paytm
wallets with the UPI ID. Along with other payments options such as debit/credit card, net banking,
etc., UPI is also one among them. Customers can also initiate collect money requests through Paytm
with UPI. After the remitter accepts the payment request, the money is added to the Paytm wallet.

BHIM App

The BHIM (Bharat Interface for Money) app has been developed by the National Payments
Corporation of India (NPCI). This app is known for its simplicity. It also offers a very secure interface.
The payment
interface comes with all the essential features and is known for its good user experience. Funds transfers can
be initiated either through VPA, QR code or bank account number and IFSC Code.

MobiKwik

These Indian payments network also joined the UPI interface. All Mobikwik customers can use UPI to
add money into their wallet. They already provided various services such as fund transfer using
debit/credit card, net banking, cash pickup and cash deposit. The e-wallet service provider also has
tied- up with various e-commerce merchants.

Google Pay

Launched by technology giant Google, the app is one of the other apps that will provide customers
the facility of using UPI. What makes this app different is that it is available in many Indian languages
such as Telugu, Tamil, Marathi, Kannada, Gujarati, Bengali, and Hindi.

Paytm Payments Bank

Paytm Payments Bank will now include the Unified Payments Interface (UPI) system as one of its
features. The facility will soon be launched for all account holders after testing and fixing bugs. The
feature is likely to be made available in the next few weeks. Paytm Payments Bank PI will allow
customers to transfer funds with a UPI ID to all merchants or account holders without any hassle, at
the click of a button. The interest rate offered by the payments bank is around 4%.

SBI Pay

This is a State Bank of India (SBI) app that is specially built for UPI requirements. The main advantage
of this app is that even those who do not hold an account in SBI can use the app to send and receive
money using a VPA. The app is very simple to use and one can easily register for the service after
downloading the app.

iMobile

The UPI interface can be used through the iMobile and Pockets app offered by ICICI Bank. The app can
be downloaded from Google Play store. To send money through this app, you have to go to the ‘Funds
Transfer’ option and click on the UPI method.

Axis Pay

Axis Bank is one of the other banks that has launched a UPI enabled platform for its customers. This
comes with a very user-friendly interface and various other features.
BOB UPI

The BOB UPI app has been launched by Bank of Baroda and can be downloaded from Google Play
Store. One of the advantages of this app is that it provides customers certain additional features that
are not available on other UPI apps.

Around 52 banks in the country have collaborated with UPI to provide customers the service. While
most banks have developed their own UPI app in their existing mobile apps, other banks do not have
UPI, while some banks have partnered with third parties to provide customers’ access to UPI.

The UPI interface is changing the way digital payments are being made in the country. There a number
of UPI apps in the market and there are more and more such apps that are being launched. Another
important point to remember is that you can use any UPI app to link your bank account Therefore all
UPI apps are interoperable. For example, a customer can use or connect a Yes Bank account on the
ICICI Pockets app.

1.6 Advantages

● Immediate money transfer through mobile device round the clock 24*7 and 365 days.

● Single mobile application for accessing different bank accounts.

● Virtual address of the customer for Pull & Push provides for incremental security with the

customer not required to enter the details such as Card no, Account number; IFSC etc.

● Bill Sharing with friends and opportunity to earn reward points

● Best answer to Cash on Delivery hassle, running to an ATM or rendering exact amount.

● Utility Bill Payments, Over the Counter Payments, Barcode (Scan and Pay) based payments.

● Online transactions

● Donations, Collections, Disbursements Scalable.

1.7 Disadvantages:

● UPI is a deal for smaller fund transfers, when an amount is high then other modes of online
transfer are preferable.
● Another issue with UPI is that it is difficult to persuade customers to download the bank

application to their smartphone for a single payment interface because they are concerned
about online fraud.

● Do not tell your personal information such as the date of birth, The UPI pin, and other

information to any other person, so that your account will be safe.

● If you want to transfer payment in the UPI, then you can transfer up to Rs 10,000 as much as

possible. You should send it one at a time if you need to send it more than once

● You must know that you have to transfer money from the unified payment interface pin is

also known as the UPI pin, and it is a very small digit, 4 to 6 digits while having a small digit, it
is not safe, so make your payment carefully and its information does not let anyone else
know.

● It does not work on the slow of the internet.

● UPI is a very fast and safe medium, but sometimes it takes a lot of time to send the payment

after the bank’s server down.

● If you want to pay using the UPA, you won’t need the UTI support app, which you’ll need to

install on your Android smartphone and use regularly take your mobile RAM too much. So
that your mobile hangs or uses too much internet to avoid it, you can clear app cache and
background data to the user can also shut down
 CHAPTER 2

LITERATURE REVIEW
2.1 Introduction

A literature review discusses published information in a particular subject area, and sometimes
information in a particular subject area within a certain time period. A literature review can be just a
simple summary of the source, but is usually as an organizational pattern and combines both
summary and synthesis. It helps in clarifying and defining the problem, stating the objectives,
formulating hypothesis, selecting an appropriate design and methodology of research as well as
interpreting the result in the light of research work already undertaken in the previous studies. In this
chapter an endeavour has been made to provide and present an overview of various aspects of this
study through the review of existing literature. The sources referred include journals, books, working
papers, report related to human resources etc.

2.2 Empirical Research review

Empirical research is published in books and in scholarly, peer-reviewed journals. However, most
library database does not offer straight forward ways to locate empirical research.

Parvesh Deepak Oswal & Prof. Hanmant N. Renushe (2021) Impact of COVID-19 on UPI Services.
According to their study they say that universal access to banking, and therefore the introduction of
biometric sensors in phones can proactively encourage UPI transactions and findings discovered that
the respondent has a positive angle towards the UPI dealing for ushering in a less-cash society in the
Asian country.

Yash Madwanna, Mayur Khadse & B R Chandavarkar (2021) Discussion on offline UPI in an
introductory manner. what kind of services it can provide to its user and how a user can access offline
UPI is also discussed in this paper, Readers will get enough knowledge and information about UPI by
reading this paper.

Rishabh Jha & Rohit Kumar (2021) In his study titled “An innovative step for making

Digital payment Effective and factors affecting Consumer perception on the use of UPI”

Performance expectancy, effort expectancy, facilitating conditions (Mobile specs & Network strength),
and Cashbacks & Rewards found to have an impactful relationship with the behavioral intention of the
users who prefer to adopt and use UPI payments.
Nileshkumar L Pate & DR. JAYSHRI S DATTA (2020) Factors influencing the usage of UPI have been
identified in this research. The findings revealed that compatibility of application, comparative
advantage and threats have positive impact on the usage of UPI. Perceived risk and customer profile
have negative impact on the usage. Customers demand safety standards for online UPI transactions
which must be robust in industry safety grades.

Alderman, L. (2020). Our Cash-Free Future Is Getting Closer. “People are using cards and contactless
payments because they don’t want to have to touch anything,” said Mr. Cornu, as a line of mask-
wearing shoppers stood three feet apart before approaching the register and swiping contactless
cards over a reader. While cash is still accepted, even older shoppers — his toughest clientele when it
comes to adopting digital habits are voluntarily making the switch.

Shivani Maheshwari (2019) The study titled “UPI (Unified Payments interface) the futuristic payment
method “discusses the architecture of UPI and states the month wise income features. From the study
it is found that 105 million incomes till Nov 17, as reported by National corporation of India (NPCI). It
is concluded from the study that UPI payment Is not only creating peer to peer transactions but also
peer to merchant transactions. International journal of Advance Research, Ideas and Innovations in
Technology 2021, WWW.IJARIIT.com All Rights Reserved Page 1097 Radhika Basavaraj Kakade 1,

Prof. Nupur A (2019) Their study reported that the UPI has made digital transaction for individuals as
easy as sending text messages. service is available 24X7, not 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.

Dr. Virshree Tungare (2019) In the study of “A Study on Customer Insight Towards UPI (Unified
Payment Interface) An Advancement of Mobile Payment system” states that cashless transactions
have become important component after the demonetization. The researcher conducted a study in
Indore about the UPI payments and related E-payments modes. The findings of the study states that
most of the respondents find UPI payments are convenient way of using and it provide various
rewards and incentives. The study concluded that it is enhance with the help of smart phones.

Atul Gupta (2018) In his study titled “UPI Redefining Digital Payments a Critical Review” states the
statistical data about the usage of UPI mobile interfaces. the data was extracted from the government
websites like RBI and NPCI. This article discusses the various challenges and opportunities of UPI.
Suma Valley and Hema Divya (2018) in their study on consumer adoption of digital payments in India
had indicates that the deployment of technology for digital payments have improved the performance
of banking sector and able to achieve the motive cash less country. The study gives emphasis to the
percentage of awareness on maximum utilization of technology. Banks should take effective measures
in creating awareness towards the effective usage of technology and security.

Shamsher Singh & Ravish rana (2017) In their study reported that adoption of digital payment is
influenced by the education level of the consumer. 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 users of smartphone and
internet penetration in such area also facilitated the adoption of digital payment.

Shamsher Singh (2017) concluded that there was significant difference between education of
consumer’s and adoption of digital payment. The perception of consumers for digital payment had
positive and significant effect on adoption of digital payment among consumers.
CHAPTER 3

OBJECTIVE

S
1) To know the consumer awareness, consumer perception and consumer satisfaction towards UPI
2) To identify the variance between UPI services and traditional services

3) To know about factors that effects the consumer perception towards UPI

4) To find out the level of awareness of UPI and its adoption by people of different age groups and
income levels.
 CHAPTER 4

RESEARCH METHODOLOGY
4.1 Research methodology

The present study is descriptive in nature. The study examines the customer insight towards UPI, with
special reference to NCR Region. The present study uses primary data. Due to special nature of the
study the qualitative data has been used in this study.

4.2 Sample Design

Sample design refers to the techniques or methods the researcher used for selecting items for the
sample, it is definite plan to get a sample from a given population.

4.2.1 Nature of Population

A research population is also known as well-defined collection of individuals or objects known to have
similar characteristics. All individuals or objects within a certain population usually have a common,
binding characteristic or trait.

4.2.2 Sample Unit

To study the whole students who are using UPI apps and arrive at a conclusion would be impractical
as it is difficult to include the entire students in the study New Delhi, Noida, Faridabad and Gurugram
are selected as the sample unit.

4.2.3 Method of Sampling

Sampling is a process used in statistical analysis in which a predetermined number of observations are
taken from a larger population.

In a simple random sample, every member of the population has an equal chance of being selected.

4.2.4 Size of Sample

The sample size of the study is 70 respondents from the students of age group above18.

4.3 Tools for Analysis

A questionnaire is created in order to receive the necessary response required from the samples to
archive the research objectives. Data are represented using tables and pie chart, bar graph.
 CHAPTER 5

ANALYSIS AND INTERPRETATION

Descriptive statistical analysis

5.1 Introduction

Descriptive statistics are used to describe the basic features of the data in a study. They provide
simple summaries about the sample and the measures. Together with sample graphics analysis, they
form the basis of virtually every quantitative analysis of data. Descriptive statistics are typically
distinguished from in differential statistics. Descriptive statistics are simply describing what is or what
the data shows. Descriptive statistics are used to present quantitative descriptions in a manageable
form. In are we may have lots of measures. Descriptive statistics helps to simplify large amount of
data in a sensible way. Each descriptive static reduces lots of data in to a simpler summary.
Descriptive statistics in the term given in to the analysis of data that helps to describe, show or
summarize data in a meaningful way. descriptive statistics do not however, allows making conclusions
regarding any hypothesis we might have made. They are simply a way to describe our data.
Descriptive statistical tools are those tools in which these are used to describe the characteristics of a
single variable, like frequency percentage etc.
 5.1 Table showing gender of the respondent

Particulars No of respondents Percentage

Male 35 50

Female 35 50

Total 70 100

Source: Primary data

From the table 5.1, it is clear that out of 70 respondents, 50% are male and 50% are female. Here
the respondents are equal.

Figure 5.1

Figure showing gender of the respondent

Gender

35 35

Female Male
 5.2 Table showing the age of the respondents

Particulars No of respondents Percentage

20-25 59 85.3

25-30 5 7.2

30-35 2 2.8

35-40 1 1.4

Above 45 3 5.3

Total 70 100

Source: Primary data

From table 5.2, it is clear that out of 70 respondents, 85.3% of the respondents are between the age
group 20-25,7.2% are between the age group 25-30,2.8% are between the age 30-35, 1.4% are
between the age 35-40 and rest 5.3% above 45. So, majority of the respondents are between the
age group of 20-25.

Figure 5.2

Figure showing the age of the respondents

Age
90
80
70
60
50
40 84
.3
30
20
10 7 4
.2 2. 1.
20-25 25-30 8 4 Above 45
30-35 35-40
5.3 Table showing the monthly income of respondents

Particulars No of respondents Percentage

Less than Rs.25000 52 74

Rs. 25000 -50000 7 10

Rs.50000-1,00,000 8 12

Above Rs.1,00,000 3 4

Total 70 100

Source: primary data

From the table 5.3, it is clear that out of 70 respondents, 74% of the above respondent’s monthly
income is less than Rs.25000, 10% respondent’s monthly income is between Rs.25000-50000, 12%
respondent’s monthly income is between Rs.50000-100000, and rest 4% respondent’s monthly
income is above Rs.100000. So, majority of the respondent’s monthly income is less than Rs.25000.

Figure 5.3

Figure showing the monthly income of respondents

Monthly Income
80
70
74
60
50
40
30
20
10 10 12 4

Less than Rs.25000 Rs. 25000 -50000 Rs.50000-1,00,000 Above Rs.1,00,000

 5.4
Table showing the Education qualification of respondent’s

Particulars No of respondents Percentage

Diploma holder 1 1.4

No formal education 2 2.9

Postgraduate level 5 7.1

Professional 4 5.7

School level 7 10

Undergraduate 51 72.9

Total 70 100

Source: primary data Table

From table 5.4, it is clear that out of 70 respondents, 1.4% of the above respondents are Diploma
holders, 2.9% of them have no formal education, 7.1% of them are postgraduate level, 5.7% are
professionals, 10% are school level and the rest 72.9% are undergraduate.

Figure 5.4

Figure showing the Education qualification of respondent’s

Education qualification
72.9
80
60
40
20 7.1 5.7 10
1.4 2.9
5.5
Table showing occupational status of respondents

Particulars No of respondents Percentage

Business 3 5.3

Government employee 1 1.4

Home makers 2 2.9

Private employee 6 8.6

Professionals 4 5.7

Student 54 77.1

Total 70 100

Source: primary data

From table 5.5, it is clear that out of 70 respondents, 5.3% of the respondents are doing business, 1.4
% are government employee, 2.9% are home makers, 8.6% are private employees, 5.7% are professionals and
the rest 77.1% are students.

Figure 5.5
Figure showing Occupational status of respondent’s

Occupational status
90
80
70 77.1
60
5.6
Table showing the duration of using UPI

Particulars No of respondents Percentage

2 months 18 25.8

6 months 10 15.2

More than 6 months 42 60

Total 70 100

Source: primary data

From table 5.6, it is clear that out of 70 respondents, majority of the respondents are using UPI
scheme for more than 6 months, 25.8% of the respondents started using UPI for 2 months, 15.2% of
the respondents started using UPI for 6 months and 60% of the respondents started using UPI for
more than 6 months.

Figure 5.6

Figure showing the duration of using UPI

Length of UPI

25.8

60
14.2

2 months 6 months More than 6 months

5.7
Table showing awareness about UPI

Particulars No of respondents Percentage

Advertisement 14 20

Bank staff 7 10

Friends and relatives 44 62.9

Other sources 5 7.1

Total 70 100

Source: primary data

From table 5.7, it is clear that out of 70 respondents, 20% of the respondents get knowledge about
UPI is through advertisement, 10% get to know about UPI through bank staff,62.9% of the
respondents get to know about UPI is through friends and relatives and the rest 7.1% get to know
about UPI through other sources.

Figure 5.7

Figure showing awareness about UPI

Awareness about UPI

70 62.9
60

50

40

30
20
20
10
7.1
10

0
Advertisement Bank staff Friends and Other sources
relatives
5.8
Table showing mode of Advertisement given awareness about UPI

Particulars No of respondents Percentage

Internet 41 58.6

Newspaper & Magazines 3 5.2

Others 16 22.4

Television &Radio 10 13.8

Total 70 100

Source: primary data

From table 5.8, it is clear that out of 70 respondents, 58.6% of the respondents’ source of awareness
is from internet, 5.2% from Newspaper & magazine, 13.8 from Television & Radio and the rest 22.4%
awareness is from others.

Figure 5.8

Figure showing mode of Advertisement given awareness about UPI

Mode of advertisement

13.8

22.4
58.6

5.2

Internet Newspaper & Magazines Others Television &Radio

5.9
Table showing UPI Applications used by respondents

Particulars No of respondents Percentage

phone pe 14 21

google pay 45 64

Mobikwik 1 1

Paytm 10 14

Total 70 100

Source: primary data

From table 5.8, it is clear that out of 70 respondents, 21% of the above respondents uses phone pe,
64% uses google pay, 1% uses mobikwik and rest 14% of the respondents use Paytm. It is clear that
most of the respondents use google pay.

Figure 5.9

Figure showing UPI Applications used by respondents

UPI Application

1 14
21

64

phone pe google pay mobikwikpaytm

5.10
Table showing the level of satisfaction towards the recharge facilities provided by UPI apps

Particulars No of respondents Percentage

Highly satisfied 28 40

Satisfied 39 55.7

Dissatisfied 1 1.4

Highly Dissatisfied 2 2.9

Total 70 100

Source: primary data

From Table 5.10, it is clear that out of 70 respondents, 8% students strongly agrees that there will be
a preference for OTT platforms even after lockdown, 33% agrees to this situation, 34% is neutral
about this situation, 16% disagree about this situation and the rest 9% strongly disagree about this
situation.

Figure 5.10

Figure showing the level of satisfaction towards the recharge facilities provided by UPI apps

Recharge
60
55.7
 5
0

40

40

30

20
1.4 2.9

1
0

Highly satisfied Satisfied Dissatisfied Highly

0 Dissatisfied
 5.11 Table showing the level of satisfaction towards the Fund transfer facilities provided
by UPI apps

Particulars No of respondents Percentage

Highly satisfied 29 41.4

Satisfied 40 57.2

Dissatisfied 1 1.4

Highly Dissatisfied 0 0

Total 70 100

Source: primary data

From Table 5.11, it is clear that out of 70 respondents, 41.4% of the respondents are highly satisfied
with the fund transfer, 57.2 are satisfied, 1.4 are dissatisfied and 0 respondents as highly dissatisfied.

Figure 5.11

Figure showing the level of satisfaction towards the Fund transfer facilities provided
by UPI apps

Fund transfer

60

50

40

57.2
30
41.4
20

10
1.4 0
0
Highly satisfied Satisfied Dissatisfied Highly
Dissatisfied
5.12
Table showing the level of satisfaction towards the Bill payment facilities provided by UPI apps

Particulars
No of respondents Percentage

Highly satisfied 20 28.6

Satisfied 44 62.8

Dissatisfied 4 5.7

Highly Dissatisfied 2 2.9

Total 70 100

Source: primary data

From Table 5.12, it is clear that out of 70 respondents, 28.6% of the respondents highly satisfied with
their bill payment,62.8 are satisfied,5.7 are dissatisfied and 2% responded as highly dissatisfied.

Figure 5.12

Figure showing the level of satisfaction towards the Bill payment facilities provided by
UPI apps

Bill payment

70
60

50
40
62.8
30
20
28.6
10
5.7 2.9
0
Highly satisfied Satisfied Dissatisfied Highly
Dissatisfied
5.13

Table showing the level of satisfaction towards the Balance enquiry facilities provided by UPI apps

Particulars No of respondents Percentage

Highly satisfied 19 27.1

Satisfied 40 57.1

Dissatisfied 9 12.9

Highly Dissatisfied 2 2.9

Total 70 100

Source: Primary data

From table 5.13 it is clear that out of 70 respondents,27.1% of respondents are highly satisfied with
their balance enquiry,57.1 satisfied,12.9 dissatisfied and 2% responded as highly dissatisfied.

Figure 5.13

Figure showing the level of satisfaction towards the Balance enquiry facilities provided
by UPI apps

Balance enquiry

60
50
40
30 57.1
20 27.1
10
12.9
0
Highl 2.9
y Satisfied
Dissatisfied
satisfied Highly
Dissatisfied
5.14 Table showing the level of satisfaction towards the privacy provided by UPI apps

Particulars No of respondents Percentage

Highly Dissatisfied 20 28.6

Satisfied 42 60

Dissatisfied 6 8.6

Highly Dissatisfied 2 2.8

Total 70 100

Source: Primary data

From Table 5.14, it is clear that out of 70 respondents, 28.6% of the respondents are highly satisfied
with privacy, 60% satisfied, 8.6% are dissatisfied and 2.8% responded as highly dissatisfied.

Figure 5.14

Figure showing the level of satisfaction towards the privacy provided by UPI apps
50
40
30
20
10
Privacy
70

60
60
5.15

Table showing Problems faced while using UPI

Particulars No of respondents Percentage

safety and security 3 4.7

Authentication 6 8.5

network problem 28 40

pending for verification 26 35.8

Others 7 10

Total 70 100

Source: Primary data

From Table 5.15 it is clear that out of 70 respondents, 5.7% of the respondents face safety and
security as a problem while using UPI, 8.5% of the respondents face authentication problem while
using UPI, 40.6% face network problem, 35.8 % of respondents face pending for verification problem
and 10.4% as others.

Figure 5.15

Figure showing Problems faced while using UPI

Problems faced while using UPI

4.7
10.4 8.5

35.8
40.6

safety and security authentication network problem

pending for verification
others
5.16
Table showing the opinion about services of UPI

Particulars No of respondents Percentage

Very good 52 75.3

Good 17 25.3

Poor 1 1.4

Total 70 100

Source: Primary data

From Table 5.16 it is clear that out of 70 respondents, 75.3% of respondents have very good opinion
about UPI, 25.3% have good opinion about UPI and the rest 1.4% has poor opinion.

Figure 5.16

Figure showing Table showing the opinion about services of UPI

Opi
nion about UPI services
1.4

2
4.3

74.3
5.17 Table showing would you Recommend UPI to your friends and relatives

Particulars No of respondents Percentage

Yes 68 97.1

No 2 2.9

Total 70 100

Source: Primary data

From the table 5.17, it is clear that out of 70 respondents, 97.1% of respondents will recommend UPI
to their friends and relatives and 2.9% of them not.

Figure 5.17
Figure showing would you Recommend UPI to your friends and relatives

Recommend UPI to your friends and

relatives

.9

97.1
5.18
Table showing reason for not suggesting UPI apps

Particulars No of respondents Percentage

Worth recommending 70 100

Let us others decide 0 0

Others 0 0

Total 70 100

Source: Primary data

From Table 5.18, it is clear that out of 70 respondents, 34% respondents strongly agrees that there is
an interest in watching movies during lockdown, 43% agrees to this situation, 19% is neutral about
this situation and 4% disagree about this situation.

Figure 5.18
Figure showing reason for not suggesting UPI apps

If No state the reason

100

0 0

LETUS OT H E R
O T H E R S D EC I D ORTH
 5.19 Table showing consumer’s perception towards Manual banking and online banking

Particulars No of respondents Percentage

Strongly agree 20 28.6

Agree 45 65.3

Neutral 5 7.1

Disagree 0 0

Strongly Disagree 0 0

Total 70 100

Source: Primary data

From Table 5.19 it is clear that out of 70 respondents, 28.6% of the respondents strongly agree
manual banking and online banking.65.3% agree, 7.1% are neutral, 0% disagree and 0% responded
as strongly disagree.

Figure 5.19

Figure showing consumer’s perception towards Manual banking and online banking

Manual banking
and online banking
00

7.1
28.6

64.3

Strongly Agree Neutral Disagree ongly

agree Str Disagree
5.20 Table showing consumer’s perception towards secured transactions

Particulars No of respondents Percentage

Strongly agree 20 28.6

Agree 45 65.3

Neutral 5 7.1

Disagree 0 0

Strongly Disagree 0 0

Total 70 100

Source: Primary data

From table 5.20, it is clear that out of 70 respondents,28.6% of the respondents strongly agree
about the secured transactions, 65.3% agree, 7.1 are neutral, 0% disagree and 0% responded as
strongly disagree.

Figure 5.20

Figure showing consumer’s perception towards secured transactions

securedtransactions
00
7.1
28.6

6
4.
3

Strongly Agree Neutra Disagre Stron Disagr

agree l e gly ee
 5.21 Table showing consumer’s perception towards Time saving

Particulars No of respondents Percentage

Strongly agree 30 42.9

Agree 35 50

Neutral 5 7.1

Disagree 0 0

Strongly Disagree 0 0

Total 70 100

Source: Primary data

From Table 5.21, it is clear that out of 70 respondents, 42.9% of the respondents strongly agree UPI
is time saving, 50% agree, 7.1 are neutral, 0% disagree and 0% responded as strongly disagree.

Figure 5.21

Figure showing consumer’s perception towards Time saving

Time saving
00

7.1

42.9

50

Strongly agree Neutra Disagree Strongly

l Disagree
Agree
5.22 Table showing consumer’s perception towards Convenience in usage

Particulars No of respondents Percentage

Strongly agree 27 38.6

Agree 38 55.3

Neutral 5 7.1

Disagree 0 0

Strongly Disagree 0 0

Total 70 100

Source: Primary data

From Table 5.22, it is clear that out of 70 respondents, 38.6%of the respondents strongly
agree the convenience of usage of UPI, 55.3% agree, 7.1 are neutral, 0% disagree and 0%
responded as strongly disagree.

Figure 5.22

Figure showing consumer’s perception towards Convenience in usage

Convenience usag
in e
0 0

7.
1

38.6

54.
3

Strongly agree Agree Neutral Disagree Strongly Disagree

5.23 Table showing consumer’s perception towards Service charges

Particulars No of respondents Percentage

Strongly agree 21 30

Agree 38 55.3

Neutral 8 11.4

Disagree 2 2.9

Strongly Disagree 1 1.4

Total 70 100

Source: Primary data

From Table 5.23, it is clear that out of 70 respondents, 30% of the respondents strongly
agree the price of using digital payment mode, 55.3% agree,11.4% are neutral, 0% disagree
and 0%responded as strongly disagree

5.23

Figure showing consumer’s perception towards Service charges

Service charges
2.9 1.4

11.4
30

54.3

Strongly agree Agree Neutral Disagree Strongly Disagree

 5.24 Table showing consumer’s perception towards Mobility

No of respondents Percentage
Particulars
Strongly agree 22 31.4

Agree 39 55.7

Neutral 9 12.9

Disagree 0 0

Strongly Disagree 0 0

Total 70 100

Source: Primary data

From the table 5.23, it is clear that out of 70 respondents, 31.4% of the respondents strongly agree
UPI facilitates transfer and payments from any point, 55.7% agree, 12.9% are neutral, 0% disagree
and 0% responded as strongly disagree.

Figure 5.24

Figure showing consumer’s perception towards Mobility

M
obility
0
0

12.9

31.4

55.7
 5.25 Table showing consumer’s perception towards Growth

Particulars No of respondents Percentage

Strongly agree 21 30

Agree 44 62.9

Neutral 5 7.1

Disagree 0 0

Strongly Disagree 0 0

Total 70 100

Source: Primary data

From table 5.25, it is clear that out of 70 respondents, 30% of the respondents strongly agree that
there is growth in UPI mobile payment, 62.8% agree, 7.1 are neutral, 0% disagree and 0% responded
as strongly disagree.

Figure 5.25

Figure showing consumer’s perception towards Growth

Growth
00

7.1

30

62.9

Strongly agre Agree Neutral Disagree Strongly

e Disagree
5.26 Table showing consumer’s perception towards Helps in decision making

Particulars No of respondents Percentage

Strongly agree 15 21.4

Agree 42 60

Neutral 10 15.3

Disagree 2 2.9

Strongly Disagree 1 1.4

Total 70 100

Source: Primary data

From table 5.26, it is clear that out of 70 respondents, 21.4% of the respondents strongly agree that
UPI helps in decision making, 60% agree, 15.3% are neutral, 2.9% disagree and 1.4% responded
strongly disagree.

Figure 5.26

Figure showing consumer’s perception towards Helps in decision making

Helps in decision making

2.9
1.4

14.3 21.4

60
 5.27 Table showing consumer’s perception regarding the Easiness than traditional
method of UPI apps

Particulars No of respondents Percentage

Strongly agree 27 38.6

Agree 38 55.3

Neutral 5 7.1

Disagree 0 0

Strongly Disagree 0 0

Total 70 100

Source: Primary data

From table 5.27, it is clear that out of 70 respondents, 38.6% of the respondents strongly agree that
UPI is easier than traditional method, 55.3% agree, 7.1% are neutral, 0% disagree and 0% responded
strongly disagree.

Figure 5.27

Figure showing consumer’s perception regarding the Easiness than traditional method of UPI
apps

E
asy than traditional method
00

7.1

38.6

54.3

Strongly agree Agree Neutral Disagree Strongly

5.28 Table showing consumer’s perception towards Payment delay of UPI apps

Particulars No of respondents Percentage

Strongly agree 12 17.1

Agree 35 50

Neutral 19 27.2

Disagree 1 1.4

Strongly Disagree 3 5.3

Total 70 100

Source: Primary data

From table 5.28, it is clear that out of 70 respondents, 17.1% of the respondents strongly agree that
there is payment delay in UPI apps, 50% agree, 27.2% are neutral, 1.4% disagree and 5.3%
responded strongly disagree.

Figure 5.28
Figure showing consumer’s perception towards Payment delay of UPI apps

Payment delay
1.4
4.3
1
7.1

27.2

5
0
5.29 Table showing consumer’s perception towards Discounts and cashback of UPI apps

Particulars No of respondents Percentage

Strongly agree 20 28.6

Agree 38 55.3

Neutral 10 15.3

Disagree 2 2.8

Strongly Disagree 0 0

Total 70 100

Source: Primary data

From table 5.29, it is clear that out of 70 respondents, 28.6% strongly agree cashless payment
options gives more discount/cash back rewards, 55.3% agree,15.3% are neutral, 2.8 disagree and 0%
responded strongly disagree.

Figure 5.29 Figure showing consumer’s perception towards Discounts and cashback of UPI apps

Discoun
ts and cashback

.8 0

14.3
28.6

54.3
5.30 Table showing consumer’s perception towards Transaction status of UPI apps

Particulars No of respondents Percentage

Strongly agree 20 28.6

Agree 40 57.2

Neutral 8 11.4

Disagree 1 1.4

Strongly Disagree 1 1.4

Total 70 100

Source: Primary data

From table 5.30 it is clear that out of 70 respondents, 28.6% of the respondents strongly agree,57.2%
agree, 11.4% are neutral, 1.4% disagree and 1.4% responded strongly disagree.

Figure 5.30

Figure showing consumer’s perception towards Transaction status of UPI apps

Transaction
status
1.4 1.4

11.4
28.
6

57.2
5.31 Table showing consumer’s perception towards Raise dispute and query regarding UPI apps

Particulars No of respondents Percentage

Strongly agree 17 25.3

Agree 37 52.9

Neutral 12 17.1

Disagree 3 5.3

Strongly Disagree 1 1.4

Total 70 100

Source: Primary data

From table 5.31, it is clear that out of 70 respondents, 25.3%of the respondents strongly agree
,52.9% agree, 17.1% are neutral, 5.3% disagree and 1.4% responded strongly disagree.

Figure 5.31

Figure showing consumer’s perception towards Raise dispute and query regarding UPI apps

Raise dispute and query regarding upi

apps
1.4

24.3
17.1

52.9

Strongly agree Agree Neutral Disagree Strongly Disagree

 CHAPTER 6

FINDINGS AND

INFERENCES
6.1 Findings of the study

• Majority (92.9%) of the respondents agree that the Mobile payments are growing and are
expected to continue

• Majority (64%) of the respondents use Google pay as their UPI application.

• Mostly the UPI users are under the age group of 20-25 years and also most of the respondents are
under graduates, and students.

• Majority of the respondents are aware about the benefits of UPI services.

• Majority (81.9 %) of the respondents are not using online banking for the only purpose of getting
the rewards

• Majority (96.1 %) of the respondents agree that the UPI payments can offer you a wider range of
banking services and Payment options

• Most (58.6%) of the respondents use transactions through internet.

• 98.6% of the respondents have good opinion about UPI

• 77.1% of the respondents using UPI are students.

• Majority (62.9%) of the respondents get to know about UPI is through friends and relatives.

• Majority (40.6%) of the respondents face network problem while using UPI.

• Majority (97.1%) of the respondents will recommend UPI to their friends and relatives

• Majority (92.9%) of the respondents agree about the secured transactions.

• Majority (92.9%) of the respondents agree UPI is time saving.

• Majority (87.1%) of the respondents agree UPI facilitates transfer and payment from any point.

• Majority (81.4%) of the respondents agree that UPI helps in decision making.

• Majority (92.9%) of the respondents agree that UPI is easier than traditional method.
6.2 Suggestions

● UPI is giving benefits like cash backs, discounts etc. Government should invest in “How to be a

cashless” in form of seminars or TV advertisement.

● The security is the biggest concern among the consumer’s and can be considered as a key factor
for
the adoption the UPI payments.

● In India there is lack of internet connectivity in rural areas and some parts of urban areas.

Government should invest in providing high speed internet and accessibility in low cost. If
internet connectivity will increase, then online fund transfer will also increase.

● E-literacy campaigns should be implemented for removing the problems faced by customers

while using such services.

● As trends and consumer preferences are constantly changing, the Consumer behaviour

towards UPI (Unified payments interface) is improving. Based on the day-to-day life.

● The important aspects which affect online payment application are Non-credit of money and

Payment delay due to network issues and some other issues related to bank infrastructure and
due to the Smartphone.

● Majority of the people use UPI payment application for their own convenience and preference,

consumer believe that the Using of the UPI payments improves the quality of decision making
of buying product, and UPI payments can offer customers a wider range of banking services
and Payment options

● Government should conduct more awareness programs for online and banking customers

regarding various services offered by NPIC such as UPI, Bharat bill payment system etc.
 CHAPTER 7

RECOMMENDATIONS AND CONCLUSION

7.1 Conclusion
Making payment is all about convenience, security, and speed. India’s payment system evolved from
the barter system to cash to card to digital payment mode. The security is the biggest concern among
the consumers and can be considered as a key factor for the adoption of the UPI payments. India is a
cash dominant society, even though there is a rapid increase in the using digital payment modes, there
is still a lack of awareness among people concerning security, data privacy, etc. which is leading to them
believing that making payments as card or cash is much better than using UPI application. Unified
Payment Interface is considered as the biggest competitor for UPI payments.

The customer is the king and they are looking for a seamless and convenient way of payments through
internet and UPI is the best option for the customers for machining transactions.

In this study made an attempt to understand the perception of the customers towards unified payment
services and traditional services and how far impacted the UPI services in customer satisfaction. From
this study it is clear that customer has a positive attitude towards unified payment interface services
and there is relationship between education of the respondents and usage of UPI services. Educated
person are more inclined to use the UPI services. The growth of users of Smartphone and internet
penetration in such area also facilitated the adoption of UPI services. Some of the problems faced by
customers while using UPI services are also identified from this study. Government should conduct
more awareness programs for online and banking customers regarding various services offered by
NPIC.
CHAPTER

LIMITATIO

NS
Limitations

● Data collection is difficult due to Covid-19.

● The study is confined to a sample of 70 people.

● It is imperative in the current period that digital payment is one important area where all the

customers should be aware.

CHAPTER 9

BIBLIOGRAP

HY
8.1 Reports

● Y. Madwanna, M. Khadse and B. R. Chandavarkar, "Security Issues of Unified Payments

Interface and Challenges: Case Study," 2021 2nd International Conference on Secure Cyber
Computing and Communications (ICSCCC), Jalandhar, India, 2021, pp. 150-154, doi:
10.1109/ICSCCC51823.2021.9478078.

● Jha, R. R., & Kumar, R. (2021). UPI-an innovative step for making digital payment effective and

factors affecting consumer perception on the use of UPI. Journal of Emerging Technologies and
Innovative Research, 8(7), 698-705.

● Alderman, L. (2020). Our cash-free future is getting closer. Nytimes. com, available at: www.

nytimes. com/2020/07/06/business/cashless-transactions. html (accessed 11 February 2021).

● Kakadel, R. B., & Veshne, N. A. (2017). Unified Payment Interface (UPI)–A Way Towards

Cashless Economy. International Research Journal of Engineering and Technology, 4(11), 762-
766.

● Tungare, V. (2019). A study on customer insight towards upi (unified payment interface)-an

advancement of mobile payment system. International Journal of Science and Research (IJSR),
8(4), 1408-1412.

● Gupta, A., Deptt, C., Bansal, A., Agarwal, A., Garg, B., & Sharma, U. (2018). UPI-Redefining

Digital Payments-A Critical Review, (07).

● Singh, S., & Rana, R. (2017). Study of consumer perception of digital payment mode. Journal of

Internet Banking and Commerce, 22(3), 1-14.

● Sharif, M., & Pal, R. (2020). Moving from cash to cashless: A study of consumer perception

towards digital transactions. PRAGATI: Journal of Indian Economy, 7(1), 1-13.

8.2 Books

▪ UNIFIED PAYMENT INTERFACE: UPI, Vishal Verma

▪ Digital Payments in India: Background, Trends and Opportunities, Jaspal Singh

▪ Electronic Payment Systems: Law and Emerging Technologies, Edward Allen Morse
CHAPTER 10

APPENDIX
QUESTIONNAIRE

“A STUDY ON CUSTOMER INSIGHT TOWARDS UPI, WITH SPECIAL REFERENCE TO NCR REGION”

Respondent’s Details
Name
Gender: Male /
Female Age group
a) 20-25 b) 25-30 c) 30-35 d) 35-40 e) above 45

● Monthly income
a) Less than Rs.25000 b) Rs. 25000 -50000
c) Rs.50000-1, 00,000 d) Above Rs.1, 00,000

● Educational qualification
a) No formal education b) School level c) Diploma holder
d) Undergraduate e) Post graduate level

● Occupational status

a) Professional b) Government employee c) Private

employee
d) Business e) Professionals f) Home makers

● How long are you using this UPI Scheme?

a) 2 months b) 6 months c) More than 6 months

● How did you get to know about UPI?

a) Bank staff b) Advertisement c) Friends and relatives d) other sources

● If through advertisement specify the source of awareness

a) Television & Radio b) Newspaper &Magazines c) Inter
d) Posters and Banner e) Pamphlets f) Others (Specify)

● In which mobile application do you use UPI

a) PhonePe b) Google Pay c) Mobikwik d) Paytm

● State level of satisfaction towards the following

SI. No Facilities Highly satisfied satisfied Dissatisfied Highly Dissatisfied

1 Recharge

2 Fund
transfer
3 Bill
payment
4 Balance
enquiry
5 Privacy

● What are the problems faced while using UPI?

a) Safety and security b) Authentication c) Network problems

d) Pending for verification e) others (specify)

● Your opinion about service of UPI?

a) Very good b) Good c) Poor

● Would you recommend UPI to your friends and relatives?

Yes / No If No, state the reasons
 a) Not worth recommending b) Let us others decide c) Others specify

● Consumer perception towards UPI, respondents are requested to mark their response
in the boxes provided.

SI. Factors Strongly Agree Neutral Disagree Strongly

No Agree Disagree
1 Manual banking and
online banking
2 Secured transactions

3 Time Saving through UPI

payment mode

4 Convenience in usage

5 Price of Using digital

payment mode
(service charges etc.)

6 Facilitates
Transfer and
Payments from
Any Point
7 Growth of UPI
mobile
payment
8 Helps in decision making

9 Comparatively easy than

the traditional methods

10 Payment in delay in UPI

Apps
11 Cashless payments options
give you more

12 discounts /
cashback
Rewards
13 Check transaction status

14 Raise Dispute /Raise query