What makes it Green for the Unified Payment Interface (UPI)? A Study

Udita Kujur1 Sanskrity Joseph2 S. K. Indurkar3
  • 1 Research Scholar, Institute of Management, Pt. Ravishankar Shukla University, Raipur (C.G.)
  • 2 Assistant Professor, Institute of Management, Pt. Ravishankar Shukla University, Raipur (C.G.).
  • 3Assistant Professor, Institute of Management, Pt. Ravishankar Shukla University, Raipur (C.G.)


A unified payment system has become the need of the hour in India. The inclination of the consumer after demonetization and government promotion of virtual payment systems to cater to the needs of the scarcity of real money supply in the markets has increased manifold. The global digital payment market is expected to grow at a compound annual growth rate of 19.2% from 2016 to 2022 by reaching 168.6 billion US dollars, based on the report issued by Allied Market Research (Allied Market Research, 2017). This demonstrates the increasing popularity and acceptance of digital payment methods worldwide. The National Payment Corporation of India serves as an umbrella Organisation responsible for functioning retail payment system and settlement systems within the country. The Unified Payment Interface (UPI), introduced and implemented by NPCI in 2016, has emerged as a highly favored payment system in India, facilitating over a billion transactions monthly. Consumer adoption refers to the process by which consumers start using a new product or service. It involves the decision-making process where consumers become aware of the product, gather information, evaluate its benefits, and make a choice to purchase and use it. It is an important area of research to understand what will prompt a user to adopt UPI. The researchers have tried to identify the impact of the theory of reasoned approach and planned behavior and Technology acceptance model on the adoption and usage of UPI in India

Vol 3 Special Issue (2024)

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   ISSN : 2583 – 7117

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