1.
“A STUDY ON CUSTOMER INSIGHT TOWARDS UPI, WITH
SPECIAL REFERENCE TO THRISSUR DISTRICT”.
Project Report submitted to
CHRIST COLLEGE (AUTONOMOUS), IRINJALAKUDA
In partial fulfillment of the requirement for the award of the degree of
BACHELOR OF COMMERCE
Submitted by
ASWIN SHAJU
CCATBCM068
Under the supervision of
MR. LIPINRAJ K
DEPARTMENT OF COMMERCE
CHRIST COLLEGE (AUTONOMOUS), IRINJALAKUDA
UNIVERSITY OF CALICUT
MARCH 2022

2.
CHRIST COLLEGE (AUTONOMOUS), IRINJALAKUDA
CALICUT UNIVERSITY
DEPARTMENT OF COMMERCE
CERTIFICATE
This is to certify that the project report entitled “A STUDY ON CUSTOMER
INSIGHT TOWARDS UPI, WITH SPECIAL REFERENCE TO
THRISSUR DISTRICT”. is a bonafide record of project done by ASWIN
SHAJU, Reg.no. CCATBCM068 under my guidance and supervision in
partial fulfillment of the requirement for the award of the degree of
BACHELOR OF COMMERCE and it has not previously formed the basis
for any Degree, Diploma and Associateship or Fellowship.
Prof. K.J JOSEPH MR. LIPINRAJ K
Co-ordinator Project Guide

3.
DECLARATION
I, ASWIN SHAJU, hereby declare that the project work entitled “A
STUDY ON CUSTOMER INSIGHT TOWARDS UPI, WITH SPECIAL
REFERENCE TO THRISSUR DISTRICT” is a record of independent and
bonafide project work carried out by me under the supervision and
guidance of lipinraj K, Assistant Professor, Department of Commerce,
Christ College, Irinjalakuda.
The information and data given in the report is authentic to the best of my
knowledge. The report has not been previously submitted for the award of
any Degree, Diploma, Associateship or other similar title of any other
university or institute.
Place: Irinjalakuda ASWIN SHAJU
Date: CCATBCM068

4.
ACKNOWLEDGEMENT
I would like to take the opportunity to express my sincere gratitude to all people who have
helped me with sound advice and able guidance.
Above all, I express my eternal gratitude to the Lord Almighty under whose divine
guidance; I have been able to complete this work successfully.
I would like to express my sincere obligation to Rev. Dr. Jolly Andrews, Principal in-
Charge, Christ college Irinjalakuda for providing various facilities.
I am thankful to Prof. K.J. Joseph, Co-ordinator of B. Com (Finance), for providing proper
help and encouragement in the preparation of this report.
I am thankful to Mr. Lipinraj K, Class teacher for his cordial support, valuable information
and guidance, which helped me in completing this task through various stages.
I express my sincere gratitude to Mr. Lipinraj K, Assistant Professor, whose guidance and
support throughout the training period helped me to complete this work successfully.
I would like to express my gratitude to all the faculties of the Department for their interest
and cooperation in this regard.
I extend my hearty gratitude to the librarian and other library staffs of my college for their
wholehearted cooperation.
I express my sincere thanks to my friends and family for their support in completing this
report successfully.

5.
TABLE OF CONTENTS
.
NO. CONTENTS PAGE NO.
LIST OF TABLES
LIST OF FIGURES
CHAPTER I INTRODUCTION 1-4
CHAPTER II REVIEW OF LITERATURE 5-7
CHAPTER III THEORTICAL FRAMEWOR 8-15
CHAPTER IV DATA ANALAYSIS AND
INTERPRETATION
16-47
CHAPTER V FINDINGS, SUGGESTIONS AND
CONCLUSION
48-50
BIBLIOGRAPHY
APPENDIX

6.
List of Tables
Table
No.
TABLES PAGE NO.
4.1 Table showing gender of the respondent 17
4.2 Table showing the age of the respondents 18
4.3 Table showing the monthly income of respondents 19
4.4 Table showing the Education qualification of
respondent’s
20
4.5 Table showing Occupational status of respondent’s 21
4.6 Table showing the duration of using UPI 22
4.7 Table showing awareness about UPI 23
4.8 Table showing mode of Advertisement given awareness
about UPI
24
4.9 Table showing UPI Applications used by respondents 25
4.10 Table showing the level of satisfaction towards the
recharge facilities provided by UPI apps
26
4.11
Table showing the level of satisfaction towards the Fund
transfer
facilities provided by UPI apps
27

7.
4.12 Table showing the level of satisfaction towards the Bill
payment facilities provided by UPI apps
28
4.13
Table showing the level of satisfaction towards the
Balance enquiry facilities provided by UPI apps 29
4.14 Table showing the level of satisfaction towards the
privacy provided byUPI apps
30
4.15 Table showing Problems faced while using UPI 31
4.16 Table showing the opinion about services of UPI 32
4.17 Table showing would you Recommend UPI to your
friends and relatives
33
4.18 Table showing reason for not suggesting UPI apps 34
4.19 Table showing consumers perception towards Manual
banking and online banking
35
4.20 Table showing consumers perception towards secured
transactions
36
4.21 Table showing consumers perception towards Time
saving
37
4.22
Table showing consumers perception towards
Convenience in usage
38

8.
4.23
Table showing consumers perception towards Service
charges
49
4.24 Table showing consumers perception towards Mobility 40
4.25 Table showing consumers perception towards Growth 41
4.26 Table showing consumers perception towards Helps in
decision making
42
4.27 Table showing consumer’s perception regarding the
Easiness than traditional method of UPI apps
43
4.28 Table showing consumers perception towards Payment
delay of UPI apps
44
4.29 Table showing consumers perception towards Discounts
and cashback of UPI apps
45
4.30 Table showing consumers perception towards
Transaction status of UPI apps
46
4.31 Table showing consumers perception towards Raise
dispute and query regarding UPI apps
47

9.
List of FIGURES
Figure
No.
FIGURES PAGE No.
4.1 Figure showing gender of the respondent 17
4.2 Figure showing the age of the respondents 18
4.3 Figure showing the monthly income of respondents 19
4.4 Figure showing the Education qualification of
respondent
20
4.5 Figure showing Occupational status of respondent’s 21
4.6 Figure showing the duration of using UPI 22
4.7 Figure showing awareness about UPI 23
4.8 Figure showing mode of Advertisement given awareness
about UPI
24
4.9 Figure showing UPI Applications used by respondents 25
4.10 Figure showing the level of satisfaction towards the
recharge facilities provided by UPI apps
26
4.11 Figure showing the level of satisfaction towards the
Fund transfer facilities provided by UPI apps
27

10.
4.12 Figure showing the level of satisfaction towards the
Bill payment facilities provided by UPI apps
28
4.13 Figure showing the level of satisfaction towards the
Balance enquiry facilities provided by UPI apps
29
4.14 Figure showing the level of satisfaction towards the
privacy provided by UPI apps
30
4.15 Figure showing Problems faced while using UPI 31
4.16 Figure showing Table showing the opinion about services
of UPI
32
4.17 Figure showing would you Recommend UPI to your
friends and relatives
33
4.18 Figure showing reason for not suggesting UPI apps 34
4.19 Figure showing consumers perception towards Manual
banking and online banking
35
4.20 Figure showing consumers perception towards secured
transactions
36
4.21 Figure showing consumers perception towards
Time saving
37
4.22 Figure showing consumers perception towards
Convenience in usage
38

11.
4.23 Figure showing consumers perception towards
Service charges
39
4.24 Figure showing consumers perception towards Mobility 40
4.25 Figure showing consumers perception towards Growth 41
4.26 Figure showing consumers perception towards Helps
in decision making
42
4.27 Figure showing consumers perception regarding the
Easiness than traditional method of UPI apps
43
4.28 Figure showing consumers perception towards
Payment delay of UPI apps
44
4.29 Figure showing consumers perception towards
Discounts and cashback of UPI apps
45
4.30 Figure showing consumers perception towards
Transaction status of UPI apps
46
4.31 Figure showing consumers perception towards
Raise dispute and query regarding UPI
apps
47

12.
CHAPTER I
INTRODUCTION

13.
CHAPTER II
EMPIRICAL LITERATURE

14.
CHAPTER III
CONCEPTUAL REVIEW OF LITERATURE

15.
CHAPTER IV
DATA ANALYSIS AND INTERPRETATION

16.
Chapter v
Findings, Suggestions and Conclusion

17.
BIBLIOGRAPHY

18.
Reports
 Impact of COVID-19 on UPI Services (2021)
Purvesh Deepak Oswal, (Yashwantrao Mohite Institute of Management,
Karad, India)
Prof. Bharati Vidyapeeth (Deemed To Be) University, Pune 1MCA
Department)
 Security Issues of Unified Payments Interface and Challenges: Case Study
(2021)
Yash Madwanna(National Institute of Technology Karnataka
Department of Computer Science and Engineering SurathkalMangalore,India)
Mayur Khadse (National Institute of Technology Karnataka
Department of Computer Science and Engineering Surathkal Mangalore,India)
B R Chandavarkar(National Institute of Technology Karnataka
Department of Computer Science and Engineering Surathkal Mangalore,India)
 An innovative step for making Digital payment Effective and factors
affecting Consumer perception on the use of UPI (2021)
Rishabh Jha (Xavier Institute of Management & Entrepreneurship, Bangalore)
Rohit Kumar (Xavier Institute of Management & Entrepreneurship, Bangalore)
 FACTORS INFLUENCING THE USAGE OF UPI AMONGCUSTOMERS
(2020)
Nileshkumar L Patel (Assistant Professor, Veer Narmad South Gujarat
University)

19.
DR. JAYSHRI S DATTA (Dean, Sankalchand Patel University)
 Our Cash-Free Future Is Getting Closer (2020)
Liz Alderman -Journalist of the new york Times.
 UPI (Unified Payments Interface) - The Futuristic Payment Method (2019)
Shivani Maheswari (Research Scholar, Business Finance & Economics,
Jai Narain Vyas University, Jodhpur, Rajasthan, India)
 Unified payment interface (upi) - a way towards cashless Economy (2019)
Radhika Basavaraj Kakade, (International Research Journal of Engineering and
Technology (IRJET))
Prof. Nupur A. Veshne, (International Research Journal of Engineering and
Technology (IRJET)
 A Study on Customer Insight Towards UPI (Unified Payment Interface)An
Advancement of Mobile Payment system (2018)
Dr. Virshree Tungare (Acropolis Institute of Management Studies &
Research · Department of Management)
 UPI Redefining Digital Payments a Critical Review (2018)
Atul Gupta (Assistant Professor, Commerce Deptt, Hindu College,
University of Delhi, Delhi, India)
 Consumer adoption of digital payments in India (2018)
Suma Valley (Research Scholar, K. L. U. Business School, K L Universtiy,
Greenfields, Vaddeswaram, Guntur District, Andhra Pradesh, India.)
Hema Divya (Assistant Professor, K. L. U. Business School, K L Universtiy,
Greenfields, Vaddeswaram, Guntur District, Andhra Pradesh, India.)

20.
 The adoption of digital payment is influenced by the education level ofthe
consumer (2017)
Shamsher Singh (Banarsidas Chandiwala Institute of Professional Studies,
Dwarka, New Delhi, India)
Ravish rana (Banarsidas Chandiwala Institute of Professional Studies,
Dwarka, New Delhi, India)
 The perception of consumers for digital payment (2017)
Shamsher Singh (Banarsidas Chandiwala Institute of Professional Studies,
Dwarka, New Delhi, India
Books
 UNIFIED PAYMENT INTERFACE: UPI, Vishal Verma
 Digital Payments in India: Background, Trends and Opportunities, Jaspal Singh
 Electronic Payment Systems: Law and Emerging Technologie, Edward Allen
Morse
Websites
 www.goole.com
 https://www.linkedin.com
 https://cashlessindia.gov.in
 https://www.researchgate.net
 https://en.wikipedia.org

21.
APPENDIX

22.
“A STUDY ON CUSTOMER INSIGHT TOWARDS UPI, WITH SPECIAL
REFERENCE TO THRISSUR DISTRICT”
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 f) Professional
Occupational status
a) Government employee b) Private employee c) Home makers
d) Business e) Professionals
1. How long are you using this UPI Scheme?
a) 2 months b) 6 months c) More than 6 months
2. How did you get to know about UPI?
a) Bank staff b) Advertisement c) Friends and relatives
d) other sources

23.
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)
3) In which mobile application do you use UPI
a) Phone Pe b) Google Pay c) Mobikwik d) Paytm
4. 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
5. What are the problems faced while using UPI?
a) Safety and security b) Authentication c) Network problems
d) Pending for verification e) others (specify)
6. Your opinion about service of UPI?
a) Very good b) Good c) Poor
7. 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

24.
8. Consumer perception towards UPI, respondents are requested to mark their responsein
the boxes provided.
SI.
No
Factors Strongly
Agree
Agree Neutral Disagree Strongly
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

25.
discounts /
cashback
Rewards
12 Check transaction
status
13 Raise Dispute
/Raise query

26.
1
1.1 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 was 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.

27.
2
1.2 Statement of the Problem
It is imperative in the current period that digital payment is one important area where
all the customers should be aware. The reasons are enormous like digital India and
mechanization of e-documentation. Nowadays the physical payment mode becomes
critical due to various reasons like time and safety. This enabled e-payment methods
like internet banking and this again made simpler with android mobile phones. Keeping
this concept, the research work. Framed based on the consumer behavior towards UPI
(unified payments interface).
1.3 Scope and Significance of Study
Due to various reasons online payment have become an important kind of transaction
in trade. So, it is imperative that to find the various sources of online sources towards
money transactions. By this study we are trying to find out what are the various modes
of online payment terms related to UPI. This study is to analyze the awareness and
satisfaction level of the customers in UPI and the security and privacy concerns
influencing consumers in adoption of UPI. The study analyzes the consumer perception
and problems towards UP. It also helps to identify the variance between UPI services
and traditional services.
1.4 Objectives of the study
1) The study is 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 study 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.

28.
3
1.5 Research methodology
The present study is descriptive in nature. The study examines the customer
insight towards UPI, with special reference to Thrissur district. The present study
uses primary data. Due to special nature of the study the qualitative data has been
used in this study.
1.6 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.
1.6.1 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.
In this study randomly selected students from Christ college Irinjalakuda. Here
population is finite.
1.6.2 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, therefore
students of Christ college Autonomous Irinjalakuda is selected as the sample unit.
1.6.3 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.
1.6.4 Size of Sample
The sample size of the study is 70 respondents from the students of age group above18.

29.
4
1.7 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.
1.8 Limitations
 Data collection is difficult due to Covid-19.
 The study is confined to a sample of 70 people.
1.9 Chapterization
 Chapter1: Introduction
 Chapter2: Empirical Literature
 Chapter3: Conceptual Review
 Chapter4: Data Analysis and Interpretation
 Chapter5: Findings, Suggestions and Conclusion

30.
5
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 says 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 behavioural intention of the users who prefer to adopt and use UPIpayments.

31.
6
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.

32.
7
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.

33.
8
3.1 Conceptual review
3.1.1 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.
3.2 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.
3.3 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.

34.
9
3.4 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.

35.
10
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 4.31 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-valueofflinetransactions.
Future growth of UPI
Transaction values in 2021 have grown by 103 percent. When the Unified Payments
Interface (UPI) was launched in 2016, little did anyone know that it would account for
over 50 percent of retail payments in India in just five years.
While India looked towards digital payment modes right after the demonetization of Rs
500 and Rs 1,000 bills in 2016, it was the pandemic in 2020 that brought a large chunk
of new users onto digital platforms amid the nationwide lockdown.
In 2021, the second year of the pandemic, with the second wave of Covid-19 way worse
than anything India had seen earlier, people began switching to digital transactions more
than ever before. Monthly UPI transaction values took four years to breach the Rs 3
lakh crore mark in August 2020. Barely 14 months later, in October, that number more
than doubled and crossed the Rs 7 lakh crore mark.
Once the habit set in, many Indians have only used online payments for transactions.
QR codes for UPI payments are no longer the preserve of restaurants and bigger
establishments but can be seen even in tiny roadside stalls. The year began with the
monthly UPI transaction value at Rs 4 lakh crore. And with barely a week left for 2021
to end, that value has nearly doubled to Rs 7.5 lakh crore (over $100billion).

36.
11
CUSTOMERS OF UPI
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. Out of all UPI transactions done 54% are person-to –person (P2P)
while 46% were person –to – person merchant(P2M)
UPI apps
 PhonePe
 Paytm
 BHIM app
 MobiKwik
 Google Tez
 Uber
 Chillr
 Paytm Payments Bank
 SBI Pay
 iMobile
 Axis Pay
 BOB UPI
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.

37.
12
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 Tez
Launched by technology giant Google, the Tez 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.
Uber
Now, Uber has included UPI as one of the modes of payment. You can pay for your
Uber rides with this interface.
Chillr
This payments app has made available UPI as one of its payment methods. This app
had been providing fund transfer facility through IMPS before it joined the UPI
bandwagon.
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

38.
13
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.

39.
14
3.5 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.
3.5 Disadvantages:
1. UPI is a deal for smaller fund transfers, when an amount is high then other modes of
online transfer are preferable.
2. 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.
3. 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.
4. 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
5. 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 digit while having
a small digit, it is not safe, so make your payment carefully and its information does
not let anyone else know.
6. It does not work on the slow of the internet.
7. 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.
8. 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

40.
15
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

41.
16
Descriptive statistical analysis
4.1 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.

42.
17
Gender
35 35
Female Male
Table 4.1
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 4.1, it is clear that out of 70 respondents, 50% are male and 50% are
female. Here the respondents are equal.
Figure 4.1
Figure showing gender of the respondent

43.
18
Age
90
80
70
60
50
40
30
20
10
0
20-
25
25-
30
2.8
30-
35
1.4
35-
40
4.3
Above
45
7.2
84.3
Table 4.2
Table showing the age of the respondents
Particulars No of respondents Percentage
20-25 59 84.3
25-30 5 7.2
30-35 2 2.8
35-40 1 1.4
Above 45 3 4.3
Total 70 100
Source: Primary data
From table 4.2, it is clear that out of 70 respondents, 84.3% of the respondents are
between the age group20-25,7.2% 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 4.3% above 45. So, majority of
the respondents are between the age group of 20-25.
Figure 4.2
Figure showing the age of the respondents

44.
19
Monthly Income
80
70
60
50
40
30
20
10
0
74
10 12 4
Less than Rs.25000 Rs. 25000 -50000 Rs.50000-1,00,000 Above
Rs.1,00,000
Table 4.3
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 4.3, 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 4.3
Figure showing the monthly income of respondents

45.
20
80
60
40
20
0
Education qualification
72.
9
1.
4
2.
9
7.
1
5.
7
10
Table 4.4
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 4.4, 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 4.4
Figure showing the Education qualification of respondent’s

46.
21
Occupational status
90
80
70
60
50
40
30
20
10
0
77.
1
4.
3
1.
4
2.
9
8.6 5.
7
Business Government Home
makers
employee
Private
Professiona
ls
employee
Studen
t
Table 4.5
Table showing occupational status of respondents
Particulars No of respondents Percentage
Business 3 4.3
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 4.5, it is clear that out of 70 respondents, 4.3% 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 4.5
Figure showing Occupational status of respondent’s

47.
22
Length of UPI
25.
8
60
14.
2
2 months 6 months More than 6
months
Table 4.6
Table showing the duration of using UPI
Particulars No of respondents Percentage
2 months 18 25.8
6 months 10 14.2
More than 6 months 42 60
Total 70 100
Source: primary data
From table 4.6, 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, 14.2% of the respondents started using UPI for 6 months and 60% of the
respondents started using UPI for more than 6 months.
Figure 4.6
Figure showing the duration of using UPI

48.
23
70
Awareness aboutUPI
62.9
60
50
40
30
20
20
10
0
Advertiseme
nt
Bank
staff
Friends
and
relatives
Other
sources
Table 4.7
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 4.7, 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 4.7
Figure showing awareness about UPI
10
7.1

49.
24
Mode of advertisement
13.
8
22.
4
58.
6
5.
2
Internet Newspaper &
Magazines
Others Television
&Radio
Table 4.8
Table showing mode of Advertisement given awareness about UPI
Particulars No of respondents Percentage
Internet 34 58.6
Newspaper & Magazines 3 5.2
Others 13 22.4
Television &Radio 8 13.8
Total 58 100
Source: primary data
From table 4.8, it is clear that out of 58 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 4.8
Figure showing mode of Advertisement given awareness about UPI

50.
25
UPI Application
1 14
21
64
phone pe google pay mobikwik
paytm
Table 4.9
Table showing UPI Applications used by respondents
Particulars No of respondents Percentage
phone pe 21 21
google pay 64 64
Mobikwik 1 1
Paytm 14 14
Total 100 100
Source: primary data
From table 4.8, 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 4.9
Figure showing UPI Applications used by respondents

51.
26
Table 4.10
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 4.10, 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 4.10
Figure showing the level of satisfaction towards the recharge facilities
provided by UPI apps
Recharge
60 55.7
50
40
40
30
20
10
1.
4
2.
9
0
Highly
satisfied
Satisfie
d
Dissatisfied Highly
Dissatisfied
Axis
Title

52.
27
Fund transfer
60
50
40
30 57.
2
20
41.
4
10
1.
4
0
Highly satisfied
Satisfie
d
Dissatisfie
d
0
Highly
Dissatisfie
d
Table 4.11
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 4.11, 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 4.11
Figure showing the level of satisfaction towards the Fund transfer facilities
provided by UPI apps

53.
28
Bill payment
70
60
50
40
62.
8
30
20
28.
6
10
5.
7
2.
9
0
Highly
satisfied
Satisfie
d
Dissatisfie
d
Highly
Dissatisfie
d
Table 4.12
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 4.12, 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 4.12
Figure showing the level of satisfaction towards the Bill payment facilities
provided by UPI apps

54.
29
Balance enquiry
6
0
50
40
30
20
10
0
57.
1
27.
1
12.
9
Highly
satisfie
d
2.
9
Satisfie
d Dissatisfie
d Highly
Dissatisfie
d
Table 4.13
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 4.13 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 4.13
Figure showing the level of satisfaction towards the Balance enquiry
facilities provided by UPI apps

55.
30
Privacy
70
60
60
50
40
30
20
10
0
Highly
satisfied
Satisfie
d
Dissatisfie
d
Highly
Dissatisfied
Table 4.14
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 4.14, 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 4.14
Figure showing the level of satisfaction towards the privacy provided by
UPI apps
28.6
8.6
2.8

56.
31
Problems faced while using UPI
10.4 4.7
8.5
35.
8 40.
6
safety and
security
authenticatio
n
network
problem
pending for verification others
Table 4.15
Table showing Problems faced while using UPI
Particulars No of respondents Percentage
safety and security 5 4.7
Authentication 9 8.5
network problem 43 40.6
pending for verification 38 35.8
Others 11 10.4
Total 106 100
Source: Primary data
From Table 4.15 it is clear that out of 70 respondents, 4.7% 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 4.15
Figure showing Problems faced while using UPI

57.
32
Opinion about UPI services
1.4
24.3
74.3
Very good Good Poor
Table 4.16
Table showing the opinion about services of UPI
Particulars No of respondents Percentage
Very good 52 74.3
Good 17 24.3
Poor 1 1.4
Total 70 100
Source: Primary data
From Table 4.16 it is clear that out of 70 respondents, 74.3% of respondents have very
good opinion about UPI, 24.3% have good opinion about UPI and the rest 1.4% has
poor opinion.
Figure 4.16
Figure showing Table showing the opinion about services of UPI

58.
33
Recommend UPI to your friends and relatives
2.9
97.1
Yes No
Table 4.17
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 4.17, 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 4.17
Figure showing would you Recommend UPI to your friendsand relatives

59.
34
If No state the reason
10
0
0 0
L E T U S
O T H E R S D E C
I D E
N O T W O R T
H
R E C O M M E N D I
N G
O T H E
R S
Table 4.18
Table showing reason for not suggesting UPI apps
Particulars No of respondents Percentage
Not worth recommending 2 100
Let us others decide 0 0
Others 0 0
Total 2 100
Source: Primary data
From Table 4.18, 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 4.18
Figure showing reason for not suggesting UPI apps

60.
35
Manual banking and online banking
0 0
7.1
28.6
64.3
Strongly agree Agree Neutral Disagree Strongly Disagree
Table 4.19
Table showing consumer’s perception towards Manual banking and online
banking
Particulars No of respondents Percentage
Strongly agree 20 28.6
Agree 45 64.3
Neutral 5 7.1
Disagree 0 0
Strongly Disagree 0 0
Total 70 100
Source: Primary data
From Table 4.19 it is clear that out of 70 respondents, 28.6% of the respondents
strongly agree manual banking and online banking.64.3% agree, 7.1% are neutral, 0%
disagree and 0% responded as strongly disagree.
Figure 4.19
Figure showing consumer’s perception towards Manual banking and
online banking

61.
36
secured transactions
0 0
7.1
28.6
64.3
Strongly agree Agree Neutral Disagree Strongly Disagree
Table 4.20
Table showing consumer’s perception towards secured transactions
Particulars No of respondents Percentage
Strongly agree 20 28.6
Agree 45 64.3
Neutral 5 7.1
Disagree 0 0
Strongly Disagree 0 0
Total 70 100
Source: Primary data
From table 4.20, it is clear that out of 70 respondents,28.6% of the respondents
strongly agree about the secured transactions, 64.3% agree, 7.1 are neutral, 0%
disagree and 0% responded as strongly disagree.
Figure 4.20
Figure showing consumer’s perception towards secured transactions

62.
37
Time saving
0 0
7.1
42.9
50
Strongly agree Agree Neutral Disagree Strongly Disagree
Table 4.21
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 4.21, 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 4.21
Figure showing consumer’s perception towards Time saving

63.
38
Convenience in usage
0 0
7.1
38.6
54.3
Strongly agree Agree Neutral Disagree Strongly Disagree
Table 4.22
Table showing consumer’s perception towards Convenience in usage
Particulars No of respondents Percentage
Strongly agree 27 38.6
Agree 38 54.3
Neutral 5 7.1
Disagree 0 0
Strongly Disagree 0 0
Total 70 100
Source: Primary data
From Table 4.22, it is clear that out of 70 respondents, 38.6%of the respondents
strongly agree the convenience of usage of UPI, 54.3% agree, 7.1 are neutral, 0%
disagree and 0% responded as strongly disagree.
Figure 4.22
Figure showing consumer’s perception towards Convenience in usage

64.
39
Service charges
2.
9
1.
4
11.
4 30
54.
3
Strongly agree Agree Neutral Disagree Strongly
Disagree
Table 4.23
Table showing consumer’s perception towards Service charges
Particulars No of respondents Percentage
Strongly agree 21 30
Agree 38 54.3
Neutral 8 11.4
Disagree 2 2.9
Strongly Disagree 1 1.4
Total 70 100
Source: Primary data
From Table 4.23, it is clear that out of 70 respondents, 30% of the respondents
strongly agree the price of using digital payment mode, 54.3% agree,11.4% are
neutral, 0% disagree and 0%responded as strongly disagree
Figure 4.23
Figure showing consumer’s perception towards Service charges

65.
40
Mobility
0 0
12.9
31.4
55.7
Strongly agree Agree Neutral Disagree Strongly Disagree
Table 4.24
Table showing consumer’s perception towards Mobility
Particulars No of respondents Percentage
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 4.23, 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 4.24
Figure showing consumer’s perception towards Mobility

66.
41
Growth
0 0
7.1
30
62.9
Strongly agree Agree Neutral Disagree Strongly Disagree
Table 4.25
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 4.25, 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 4.25
Figure showing consumer’s perception towards Growth

67.
42
Helps in decision making
2.
9 1.
4
14.
3
21.
4
60
Strongly agree Agree Neutral Disagree Strongly
Disagree
Table 4.26
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 14.3
Disagree 2 2.9
Strongly Disagree 1 1.4
Total 70 100
Source: Primary data
From table 4.26, it is clear that out of 70 respondents, 21.4% of the respondents
strongly agree that UPI helps in decision making, 60% agree, 14.3% are neutral, 2.9%
disagree and 1.4% responded strongly disagree.
Figure 4.26
Figure showing consumer’s perception towards Helps in decision making

68.
43
Easy than traditional method
0 0
7.1
38.6
54.3
Strongly agree Agree Neutral Disagree Strongly Disagree
Table 4.27
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 54.3
Neutral 5 7.1
Disagree 0 0
Strongly Disagree 0 0
Total 70 100
Source: Primary data
From table 4.27, it is clear that out of 70 respondents, 38.6% of the respondents
strongly agree that UPI is easier than traditional method, 54.3% agree, 7.1% are
neutral, 0% disagree and 0% responded strongly disagree.
Figure 4.27
Figure showing consumer’s perception regarding the Easiness
than traditional method of UPI apps

69.
44
Payment delay
1.4
4.3
17.1
27.2
50
Strongly agree Agree Neutral Disagree Strongly Disagree
Table 4.28
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 4.3
Total 70 100
Source: Primary data
From table 4.28, 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 4.3% responded strongly disagree.
Figure 4.28
Figure showing consumer’s perception towards Payment delay of UPI
apps

70.
45
Discounts and cashback
2.8 0
14.3
28.6
54.3
Strongly agree Agree Neutral Disagree Strongly Disagree
Table 4.29
Table showing consumer’s perception towards Discounts and cashback of
UPI apps
Particulars No of respondents Percentage
Strongly agree 20 28.6
Agree 38 54.3
Neutral 10 14.3
Disagree 2 2.8
Strongly Disagree 0 0
Total 70 100
Source: Primary data
From table 4.29, it is clear that out of 70 respondents, 28.6% strongly agree cashless
payment options gives more discount/cash back rewards, 54.3% agree,14.3% are
neutral, 2.8 disagree and 0% responded strongly disagree.
Figure 4.29
Figure showing consumer’s perception towards Discounts and cashback of
UPI apps

71.
46
Transaction status
1.4 1.4
11.4
28.6
57.2
Strongly agree Agree Neutral Disagree Strongly Disagree
Table 4.30
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 4.30 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 4.30
Figure showing consumer’s perception towards Transaction status of UPI
apps

72.
47
Raise dispute and query regarding upiapps
1.4
4.3
17.
1
24.
3
52.
9
Strongly agree Agree Neutral Disagree Strongly
Disagree
Table 4.31
Table showing consumer’s perception towards Raise dispute and query
regarding UPI apps
Particulars No of respondents Percentage
Strongly agree 17 24.3
Agree 37 52.9
Neutral 12 17.1
Disagree 3 4.3
Strongly Disagree 1 1.4
Total 70 100
Source: Primary data
From table 4.31, it is clear that out of 70 respondents, 24.3%of the respondents
strongly agree ,52.9% agree, 17.1% are neutral, 4.3% disagree and 1.4% responded
strongly disagree.
Figure 4.31
Figure showing consumer’s perception towards Raise dispute and query
regarding UPI apps

73.
48
5.1 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 throughinternet.
• 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 usingUPI.
 Majority (97.1%) of the respondents will recommend UPI to their friends
and relatives
 Majority (92.9%) of the respondents agree about the securedtransactions.
 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 decisionmaking.
 Majority (92.9%) of the respondents agree that UPI is easier than
traditional method.

74.
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5.2 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.

75.
50
5.3 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.