Digital Payment Revolution Consumer Awareness And Perception of UPI in Delhi & NCR

Abstract

The digital ecosystem of Indian digital payments was fundamentally changed after the launch of the Unified Payments Interface (UPI) in the market in 2016 by the National Payments Corporation of India (NPCI). This article analyzes awareness and adoption behaviour and UPI perceptions among some of 62 interviewees in the Delhi-NCR region using a structured questionnaire. Findings reveal that a sufficiently high proportion of the respondents daily use UPI (61.3%), regard it as a very safe medication (72.6%), and their experience with it is also very satisfying (72.6%). The preferred platform gaining the leading place (45%), and technical issues (48.4) and security issues (45.2) are the dominant stumbling blocks, which PhonePe acquires as the leading option. The data will be analyzed through descriptive statistics and cross-tabulation in the paper and implications offered to the policymakers, banks, and fintech companies.