From Cash to UPI: A Detailed Study on Changing Consumer Payment Behaviour in India (a transition in payment method with reference to Bengaluru city)

Abstract

                   This study aims in analyzing the various aspects like the consumer behavior towards UPI payment who are living in Bengaluru city. Unified Payment Interface (UPI) is a real time payment interface introduced by National Payment Corporation of India (NPCI) through which users can transfer money from one account to another account through phone by linking their phone number. Covid-19 pandemic was the time when the count of user sky-rocketed and cash payment was dominated by digital payment system. The study here explores various aspects like the proportion of different payment modes used and the factors influencing consumer preferences for UPI. Primary data was collected through structured questionnaires including demographic, behavioral, geographic, awareness, preference towards UPI which obtained 112 responses. Out of 100 %  respondents UPI users accounted for 57% which also explains the awareness towards UPI and to find the significant factors influencing on UPI adoption a MLR regression was performed in SPSS tool, the significant variables are mentioned in the below interpretation section.