Unified Payments Interface (UPI) in India: A ...

Unified Payments Interface (UPI) in India: A Comprehensive Review and Analysis of Gen Z towards Cashless Economy

Author Name : Gaurav Makhija, Tushar Keswani, Shantilal Jadhav, Dr. Pralhad Joshi

ABSTRACT

The Unified Payments Interface (UPI) has emerged as a revolutionary payment system in India, transforming the landscape of digital transactions. This research paper provides a comprehensive review and analysis of UPI in India, examining its features, impact, challenges, and future prospects. The study aims to shed light on the key aspects of UPI, its adoption rate, benefits, and potential limitations, while also exploring the regulatory framework and policy initiatives driving its growth. The study was conducted in South Pune. The primary data was collected from students who are staying outside form home town and are pursuing their postgraduate course. The Data was analyzed with (SPSS version 22). It has been found that students and parents felt easy to transfer money online. Students are comfortable spending money with various UPI apps. There has been a dramatic change in student’s behavior, especially after the pandemic. Most of them have learned and adopted spending online through various UPI apps. However, students need various facilities and improvements in UPI apps.  Through a systematic analysis of existing literature, data, and case studies, this paper aims to contribute to the understanding of UPI and its significance in the Indian financial ecosystem. This Research Work Was Done to Identify the Adoption of UPI in Transactions.

Keywords- Cashless Payments, Gen Z, Postgraduate Students, UPI apps, UPI 2.0