A study on Users Preference and Usage of UPI-Enabled Payment Apps in Western Suburb of Mumbai

Abstract

Digital India serves as a benchmark for many countries. India’s fintech innovation ‘UPI’ has grown by leaps and bounds. Transactions worth Rs. 17.40 lakh crore were processed in November 2023 on the Unified Payments Interface (UPI) platform (The Hindu Business Line, 1^st December 2023). Users Preference and usage of UPI-Enabled Payment Apps in Western Suburb of Mumbai was investigated in the current study. Simple random sampling was used to select the 300 samples. The study was conducted in March 2024. Structured questionnaire was used to collect responses of users of UPI-enabled apps. Simple percentages and the Chi-Square statistic were used to analyse the data. The result showed that UPI-Enabled Payment App ‘Google Pay’ is used on a wider scale. The UPI-Enabled Payment App is majorly used on a daily basis for shopping and meeting the daily expenses. Ease of use and 24 x 7 usages motivate users to use the UPI-Enabled Payment App. Users were extremely satisfied with the usage of the UPI-Enabled Payment App.