Identifying the Major Demographic Factors Determining Unified Payments Interface Usage: A Study Based on West Bengal
DOI:
https://doi.org/10.51983/ajms-2023.12.1.3364Keywords:
Unified Payments Interface, Logistic Regression, T-Test, E-Wallets, COVID-19Abstract
Around 44 billion digital transactions were recorded across India during the financial year 2021. Ever since the COVID-19 pandemic hit India, a significant growth in the number of digital payments has also occurred. The value of transaction is estimated to rise up to 385 trillion Indian rupees by the financial year 2026 (Statista, 2022). Given this importance of Unified Payments Interface (UPI) usage, we surveyed 205 respondents from rural and urban West Bengal to explore the determinants of UPI usage and the impact of COVID-19 pandemic on UPI use, if any. We used logistic regression and independent sample t-test and found that males and younger individuals use UPI more than females and aged persons, while we do not see any difference in usage across income brackets and between rural and urban areas. The implication is that to make India digital, those who use UPI less, such as females and the aged, should be encouraged to participate more in UPI usage.
References
Chattopadhyay, S., Gulati, P., & Indranil, B. O. S. E. (2018). Awareness and participation of small retail businesses in cashless transactions: An empirical study. Management Dynamics in the Knowledge Economy, 6(2), 209-225.
Dinesh, T. K. (2018). Demonetization and its Effects on Digital Payments. Economic Affairs, 63(2), 407-411.
Eswaran, K. K. (2019). Consumer perception towards digital payment mode with special reference to digital wallets. Research Explorer, 22.
Gupta, S., & Kumar, D. (2020). UPI-An Innovative Step For Making Digital Payment Effective And Consumer Perception On Unified Payment Interface. The International Journal of analytical and experimental modal analysis, 12(1), 2482-2491.
Gupta, P., & Hakhu, R. (2020). Customer Perception towards Cashless Transactions: An Analysis of Specific Age Group with Special Reference to Haryana, Journal of Critical Reviews, 7(19).
Jain, P. & Singhal, S. (2019). Digital Wallet Adoption: A Literature Review. International Journal of Management Studies, 6. Retrieved from 01.10.18843/ijms/v6si1/01.
Jain, M., & Sabharwal, P. (2019). A study of the relationship between demographic variables and the usage of E-Wallets. Delhi Business Review, 20(2), 49-55.
Lonare, A., Yadav, A., & Sindhu, S. (2018). E-wallets: Diffusion and adoption in the Indian economy. Indian Journal of Commerce and Management Studies, 9(2), 09-16.
Mallik, P. K., & Gupta, D. (2020, May). A study on factors influencing consumer intention to use UPI-based payment apps in the Indian Perspective. In International Conference on Information and Communication Technology for Intelligent Systems, 445-452. Springer, Singapore.
National Payments Corporation of India (n.d.). UPI: Product Overview. Retrieved from https://www.npci.org.in/what-we-do/upi/product-overview.
Reserve Bank of India. (2022, January 19). Reserve Bank of India Announces Digital Payments Index for September 2021. Retrieved from https://www.rbi.org.in/Scripts/BS_PressReleaseDisplay.aspx?prid=53123
Sarika, P., & Vasantha, S. (2019). Impact of mobile wallets on cashless transactions. Int. J. Recent Technol. Eng, 7(6), 1164-1171.
Statista. (2022, July 21). Value of digital transactions across India in the financial year 2020 and 2021, with estimates until 2026. Retrieved from https://www.statista.com/statistics/1247251/india-value-of-digital-transactions.
Tripathi, S., & Dave, N. (2022). Cashless Transactions through E-Commerce Platforms in Post-COVID-19. International Journal of Management, Public Policy and Research, 1(2), 12-23.
Tripathi, S. (2020). A Study on Adoption of Digital Payment through Mobile Payment Application with Reference to Gujarat State. International Journal of Trend in Scientific Research and Development.
Vasantha, S., & Sarika, P. (2019). Empirical analysis of demographic factors affecting the intention to use a mobile wallet. International Journal of Engineering and Advanced Technology, 8(6), 768-776.
Downloads
Published
How to Cite
Issue
Section
License
Copyright (c) 2023 The Research Publication
This work is licensed under a Creative Commons Attribution-NonCommercial-NoDerivatives 4.0 International License.
