A Study on the Influence of Profession and Income on UPI Usage and Satisfaction

Abstract

The National Payments Corporation of India (NCPI) introduced Unified Payment Interface (UPI) - a modernized, cost-effective and remarkable innovation that has made a notable mark on Indian economy which is already on the path of digitalization. In the last couple of years there has been a paramount development in the Payment systems in India, the two major contributing being the rapid penetration of mobile and card payment systems. The Digital India initiative was the major driving force which made Digital payment systems largely popular. The 'Digital India' strategy aimed to promote and increase digital transactions in India. The current research focuses on analysing the influence of profession and income on frequency and satisfaction associated with UPI usage. The study concluded that there is a significant impact of profession and income on the satisfaction level and usage of UPI. The findings enlighten that demographic and socio-economic factors play a critical role in determining user behaviour and perceptions toward digital payment systems.