Authors: Nikita Devanand Shivsharan, Prof. Prashant Kalwade, Prashant Kalwade
Abstract: The rapid growth of digital payment systems has transformed the banking and financial sector in India. Unified Payments Interface (UPI) has emerged as one of the most popular digital payment methods due to its convenience, speed, and security. This study aims to analyze customer adoption and usage patterns of UPI applications in banking services. The research focuses on understanding customer preferences, frequency of usage, factors influencing adoption, satisfaction levels, and challenges faced while using UPI applications. The study is based on primary data collected through a structured questionnaire from respondents using various UPI applications such as Google Pay, PhonePe, Paytm, and BHIM. Statistical tools including percentage analysis, charts, and hypothesis testing have been used to interpret the data. The findings indicate that ease of use, convenience, transaction speed, and cashback offers significantly influence customer adoption of UPI applications. The study also reveals a high level of customer satisfaction with UPI services, although concerns related to security and technical issues still exist. The research concludes that UPI has become an essential part of digital banking and has significantly contributed to the growth of cashless transactions in India. The study provides valuable insights for banks, payment service providers, and policymakers to enhance customer experience and strengthen digital payment infrastructure.
DOI: https://doi.org/10.5281/zenodo.20410302
