A STUDY ON UNIFIED PAYMENT INTERFACE (UPI) AMONG UNIVERSITY STUDENTS IN MADIKERI CITY

Abstract

The Unified Payment Interface (UPI) is one of the great inventions of E-payments introduced by National Payment Corporation of India (NPCI). UPI is advanced and significant payment system in terms of cost, ease of use for consumers, settlement times and security.  It has facilitated large number of population to bring within the purview of digital economy. It is a type of payment system through which any customer holding bank account can send and receive money through a UPI-based app.  This service allows a user to link more than one bank account on a UPI app on their smart phone to seamlessly initiate fund transfer and make collect requests on a 24/7 basis and on all 365 days a year. The objective of this paper is to study the awareness, preference and level of satisfaction towards UPI among university students in Madikeri City.  For this purpose percentage analysis has been used and the sample size is 120. The findings of the study show that respondents are aware of the system because of its ease of usability, user-friendly, security, cash back offer, Google Pay is the highest and Amazon pay is the lowest used apps and majority use UPI apps mainly for fund transfer. It is suggested that to make the ‘Digital India’ programme a successful and India to become digitally empowered there is a need for further promotional campaigns needs to be held to enhance the users.