Navigating Consumer Perception for UPI: A Systematic Literature Review

Author

Ms. Sonia Goyat

Abstract

 The impulsive intensification in adoption of “Digital payment system” also fluctuate the behaviour of consumers with respect to UPI (Unified Payment Interface). As it is observed that UPI present in a leading place in retail payment division. Out of the various Flagship payment facilities provided by NPCI “Unified Payment Interface (UPI)” holds a remarkable place. This study focusing on systematic literature review of the previous year relevant materials to identify the frequent theme regarding consumer perception of UPI, influence of demographic factors on consumer perception and challenges that affect their perception. The present study explorative and descriptive in nature based on deep review of research papers published in different journals, newspapers and magazines or existing work. After reviewing the existing work the significant findings specified that though easy to use and speeds are key drivers of UPI system. But security issues, network error, demographic factors and usage pattern of UPI by consumer also have an impact on their perception and inclination to use UPI payment mode. The main implications of this study is though UPI has gained more acceptance at wide level and consumer have positive perception towards it but to maintain this position in future it is necessary to address security issues effectively. The current review also provides a vision to industrialists; government, financial institutions and policy makers who are focused on increasing consumer trust in UPI for its acceptance at national and international level. 

Keywords

Unified Payment Interface, Perception, Systematic, Review

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References

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