COURSE NAME : FINTECH

SKILL OFFERING ID :

PROJECT TITLE : A DETAILED STUDY ON

CHALLENGE IN UPI

PAYMENT FOR INDIAN BANK

CUSTOMERS IN CHENNAI CITY

DURING THE PERIOD 2020 – 2023

PROJECT SUBMITTED TO : UNOM/NM

YEAR : 2020 – 23

DEPARTMENT : B.COM (GENERAL)

SEMESTER : 6th SEMESTER

GROUP NUMBER : 001

MEMBER OF THE GROUP : AKASH.K

ARUN KUMAR.R

DINESH KUMAR.T

THIRUMALAI.V

VIJAY.G

GUIDED BY : Dr.C.D.N.RAKKINI.

SPOC NAME : Dr.R.NANDHINI

1
 GROUP NO:001

A DETAILED STUDY ON CHALLENGES IN UPI PAYMENT FOR INDIAN

BANK CUSTOMERS IN CHENNAI CITY DURING THE PERIOD 2020 – 2023

MEMEBERS OF THE GROUP:

AKASH.K

ARUN KUMAR.R

DINESH KUMAR.T

THIRUMALAI.V

VIJAY.G

2
 CONTENTS
CHAPTER TITLE PAGE NO

I INTRODUCTION 5 - 10

II REVIEW OF LITERATURE 10 - 12

III RESEARCH METHODOLOGY 12 – 16

IV DATA ANALYSIS AND 16 – 25

INTERPRETATION

V FINDINGS SUGGESTION AND 25 – 26

CONSLUSION

BOBLIOGRAPHY 27 – 28

ANNEXURE 28 – 39

LIST OF TABLES
S.NO TITLES PAGE NO

4.1 GENDER WISE CLASSIFICATION 16

4.2 AGE WISE CLASSIFICATON 17

4.3 EDUCATION QUALIFICATION 19

4.4 OCCUPATION WISE CLASSIFICATION 20

4.6 MARITAL STATUS 22

3
 LIST OF CHARTS

S.NO TITLES PAGE NO

4.1 GENDER WISE CLASSIFICATION 17

4.2 AGE WISE CLASSIFICATON 18

4.3 EDUCATION QUALIFICATION 20

4.4 OCCUPATION WISE CLASSIFICATION 21

4.6 MARITAL STATUS 23

4
INTRODUCTION
 Unified Payments Interface (UPI) is an instant real-time payment system developed
by National Payments Corporation of India (NPCI). The interface facilitates inter-
bank peer-to-peer (P2P) and person-to-merchant (P2M) transactions.

 It is used on Mobile devices to instantly transfer funds between two bank accounts.
The mobile number on the device is required to be registered with the bank. The UPI
ID of the recipient can be used to transfer money.

 It runs as an open source application programming interface (API) on top of the

Immediate Payment Service (IMPS) and is regulated by the Reserve Bank of India
(RBI). Banks have started depositing their UPI-enabled apps on the Google Play store
from August 25, 2016.

 As of May 2021, the platform has over 100 million monthly active users in India. The
proportion of UPI transactions in total volume of digital transactions grew from 23%
in 2018–19 to 55% in 2020–21 with an average value of ₹1,849 per transaction.

 Digital transactions worth ₹8.31 trillion were made via the platform in January
2022.In FY 2021–22, the value of transactions crossed $1 trillion.As of September
2022, there were 358 banks available on the platform with a monthly volume of 6.7
billion transactions amounting to ₹11.16 trillion (US$140 billion).

 On 16 August 2018, UPI 2.0 was launched which enabled users to link their overdraft
accounts to a UPI handle. Users were also able to pre-authorise transactions by
issuing a mandate for specific merchant.

 This version also included a feature to view and store the invoice for the transactions.
An AutoPay facility for recurring payments was also added.As of August 2021, State
Bank of India, Bank of Baroda and Paytm Payment Bank are live on UPI AutoPay
each registering 660,000, 204,000, and 186,000 mandates, respectively.

 From 15 March 2022, Government removed the need of debit card for UPI
registration. NPCI is planning to expand AutoPay to international markets and
operationalize real-time payment dispute resolution mechanism covering 90% of the
complaints by September 2022.

5
ADVANTAGES OF UPI TRANSACTION:

 Using the UPI pin, you will be able to make the most secure payment. This is a very
safe medium, it just gives you a single PI, through which you can transfer money.

 If you make payment from UPI, you will not have to pay any charges as this is
completely free by the Indian government.

 UPI that you can also send any payment at one time or ask for it in your account. It
either deposits money into your account or transfers money to another account in a
matter of seconds.

 UPI offer access to all your bank account through a single mobile application.

 You can send payment to any unified payments interface support bank, which is very
easily without any charge, the State bank of Panjab national bank, and all other banks.

 UPI is easy to access, you can use24*7 hours a day, at any time and any place, even
on public holidays.

 UPI is the one that does not need to fill in the various details like ATM card number,
IFSC code, account number.

 The UPI payment is very simple, with the help of this, you can send money quickly
and easily to another account.

 If you send any money to another account holder, then if you send the same payment
through the UPI, they are given some cashback in it. You can get a lot of benefits
from it.

DISADVANTAGES OF UPI TRANSACTION:

 UPI is a deal for smaller fund transfers, when an amount is high then other modes of
online transfer are preferable.

 Another issue with UPI is that it is difficult to persuade customers to download the
bank application to their smartphone for a single payment interface because they are
concerned about online fraud.

 Do not tell your personal information such as the date of birth, The UPI pin, and other
information to any other person, so that your account will be safe.

6
  If you want to transfer payment in the UPI, then you can transfer up to Rs 10,000 as
much as possible. You should send it one at a time if you need to send it more than
once.

 You must know that you have to transfer money from the unified payment interface
pin is also known as the UPI pin, and it is a very small digit, 4 to 6 digit while having
a small digit, it is not safe, so make your payment carefully and its information does
not let anyone else know.

 It does not work on the slow of the internet.

 UPI is a very fast and safe medium, but sometimes it takes a lot of time to send the
payment after the bank’s server down.

 If you want to pay using the UPA, you won’t need the UTI support app, which you’ll
need to install on your Android smartphone and use regularly take your mobile RAM
too much. So that your mobile hangs or uses too much internet to avoid it, you can
clear app cache and background data to the user can also shut down.

UPI PAYMENTS SUPPORTING THE BANKS:

 State Bank of India

 Axis Bank

 Bank of Baroda

 YES Bank

 Bank of Maharashtra

 HDFC Bank

 ICICI Bank

 Federal Bank

 Union of Bank

 Canara Bank

 HSBC Bank

 IDBI Bank

7
  Kotak Mahindra Bank

 Bandhan Bank

 IDFC First Bank

HOW TO MAKE UPI PAYMENT:

Below are the steps to make a payment through UPI:

UPI Payment without UPI ID:

If you do not have a UPI ID, follow these steps to generate your UPI PIN, as it is essential
for conducting a UPI payment from any of the applications.

Step 1: Create an account on any preferred application like PhonePe, Paytm, Google
Pay, BHIM app, etc., by linking your bank account.

Step 2: Select the bank account which you want to link with the UPI application.

Step 3: After selecting the bank account, enter the “last 6 digits” along with your debit
or ATM card’s expiry date.

Step 4: Enter the OTP you receive on your registered mobile number and generate a
UPI-PIN to initiate the transaction.

UPI Payment with UPI ID:

If you have a UPI ID, go through the following steps to proceed with the payment:

Step 1: Open the app and choose how you want to complete the payment. You have
options like scanning a QR code, paying contacts, bank transfer etc.

Step 2: Enter the desired amount. You may add a note here as well.

Step 3: Select your bank.

Step 4: Enter the PIN and proceed with your payment.

If your receiver's application differs, you can ask for the UPI ID for making the
transaction. You may also directly transfer the amount to their respective bank
account via UPI. The recipient will receive the money immediately after the
transaction.

8
WAYS TO TRANSFER AND RECEIVE MONEY THROUGH UPI PAYMENT:
Each UPI application has several ways to transfer and
receive money through UPI payment. Therefore, you can share and receive money using the
following methods:

 By Entering Your Recipient’s Contact Number: For transferring money to your

recipient in your contacts, enter their mobile number linked with the UPI Id. Enter the
amount of money to be sent to your recipient and enter your UPI PIN. If someone
wants to send you money, ask them to enter your registered mobile number and
follow the same steps.

 Bank Transfer: If you want to transfer or receive money to your recipient's bank
account, the person should know the bank's name, account number, IFSC code and
the account holder's name. Confirm and enter the amount you want to be transferred
and received at the other end.

 By Entering the UPI ID: You also have the option to enter the UPI ID of the
recipient while transferring money. Likewise, you can share your UPI ID if you want
to receive money. Open your respective UPI application and continue by entering the
UPI ID. Transfer the amount of money by confirming the MPIN (Mobile Pin).

 Scanning the QR Code: This is the quickest way of transferring or receiving money
using the UPI application. Just scan the recipient's QR code and enter the amount you
want to send. Confirm and proceed with the transaction and complete it in a split
second.

THINGS TO REMEMBER WHILE MAKING UPI PAYMENT:

The introduction and growth of UPI payment have been a pioneering success.
However, you need to remember these things:

 Verification of Your Recipient’s UPI ID: Before conducting the transaction, always
check the UPI ID while sending and receiving money. You can verify the respective UPI
ID by transferring a negligible or minimal amount.

 Focus on Keeping Your Access to UPI Secure: Generate a strong pin for the payment
procedure. Remember that you should only share your UPI address, linked mobile
number and QR code. Never share your pin details with any other person, and constantly
change it, given if anyone comes to know about it.

 Always Utilise a Single UPI App: If you use more than 1 UPI app, it will increase the
chances of unwanted transactions due to confusion. You should only create up to 1 UPI
ID.

9
  Cross-Check Recipient's Name: If any link pops up on your phone, only click on it if it
is verified. These links can breach your consent and privacy. They can use your identity to
log into your account and indulge in monetary theft.

If you are new to UPI payment, following the above steps will help you understand the tips and
tricks. You can have multiple UPI Ids for a single bank account in different UPI applications. In
this case, you must ensure your phone is secured. Therefore, remember to add a lock screen to
your phone. Frequently change your phone's lock screen to make UPI as secure as possible.

II. REVIEW OF LITERATURE:

The Review of Literature is an overview of the previously published works on

a specific topic. It provides an overview of current knowledge, allowing the researcher to
identify relevant theories, methods, and gaps in the existing research.

1. Damodhar & Sunitha(2020) studied about digital case and UPI payments, payments
are often carried with involvement of third parties; it makes E-payment at any time
through the web on to the transfer settlement and Ebusiness surroundings. Electronic
payment revolutionized the business process by reducing the work, dealing prices,
and labour value. Being user friendly and fewer long than manual process, it helps
concern to expand its market reach/expansion of the E-commerce.

2. Moghavvemi(2020) in a recent study, found that the drivers and barriers of UPI
payment adoption by merchants and provided a theoretical explanation of how the
adoption of UPI payment and payment experience of merchants. The study adopted
an exploratory approach by using the case study of two merchants in the retail sector.
The findings demonstrate that, the business model and nature of the business,
contextual factors, and technology type, as well as competition and cost, serve as
drivers of merchant adoption of UPI payment.

3. Lee(2019) in their recent study found out the reciprocal relationship between user
perception and retailer perception on platform-based mobile payment service. This
study argue that the mass adoption of mobile payments will only be triggered when
the benefits - both perceived and real become clear to consumers and merchants. With
the development of the smartphone and mobile Internet, a platform-based UPI
payment service has emerged that can handle all banking services with a smartphone
alone.
4. Abebe(2020) had a study on factors affecting UPI Payment adoption by merchants in
Ethiopia. The result suggests that relative advantage, ease of use, usefulness, attitude,
trust, risk/security and cost are factors that affect mobile payment adoption positively
and significantly. Whereas compatibility is found not significant for merchant’s
adoption of mobile payment systems in Ethiopian context.

10
5. Singh(2020) studied about how perceived trust mediates merchant’s intention to use a
mobile wallet technology. Journal of Retailing and Consumer Services. As mobile
wallets are in constant demand and growing over the past few years, there is a need to
identify views of different stakeholders involved in the process. Several studies have
been done to investigate consumer’s perspective intensively. On the other hand,
review of perception and adoption of wallet services by other participants, in
particular merchants, is often neglected.

6. Pisani(2018)studies the role of competition in the adoption of mobile payment among

merchants. Mobile payment has been predicted to become the “new normal” in the
payments industry. However, such predictions have hardly been realized in the Euro
area, since most payments at the point of sale (POS) are still conducted in cash.
Mobile payment represents a specific case of multi-sided markets, where the
functioning of the whole market relies on the interaction between several players - in
this case at least two, i.e.merchants and consumers - on a common platform.

7. Taylor(2016)in his study ‘A review of potential benefits and risks’. Retailers and
suppliers are facing the challenge of reconfiguring systems to accommodate
increasingly mobile customers expecting multichannel options supporting quick and
secure digital payment. This paper harnesses the learning from the implementation of
self-checkout and combines it with available information relating to mobile scanning
and mobile point of sale.

8. F. Liebana(2017) in his study ‘Predictive and explanatory modelling regarding

adoption of mobile payment systems’commercial activities have evolved during the
past decade from a single-channel focus and perspective on business opportunities to
a multiple-channel approach, with mobile phones playing a major role in the most
recent and latest business opportunities. Even if mobile payment systems are still
under development and steadily becoming available worldwide, many experts have
already pointed to them as the potential payment system of choice taking into account
its high penetration level within our society, its accessibility and ease of use. The
paper explores the adoption of mobile payment systems from the point of view and
perspective of the merchants.

9. Sharifi(2016) in his study ‘Inferring Merchant Review Scores from Payment Data’
finds that users complete payment transactions with various merchants using a wallet
application or similar payment application maintained by an account management
computing system. The account management computing system creates a predictive
model or trains a machine learnt regression function or classifier model to predict the
merchant review score based on the payment information received from the user
device. A merchant is identified to derive a merchant review score and the account
management computing system identifies the business type of the identified merchant.

11
 10. Mallat(2008)explored merchant adoption of mobile payment systems by examining
empirically and discuss factors that drive and inhibit the adoption of mobile payment
by merchants. Their results suggest that the main adoption drivers are related to the
means of increasing sales or reducing the costs of payment processing, while the
barriers to adoption include the complexity of the systems, unfavourable revenue
sharing models, lack of critical mass, and lack of standardization.

III. RESEARCH METHODOLOGY:

Methodology is the systematic, theoretical analysis of the methods applied to
a field of study. It comprises the theoretical analysis of the body of the methods and
principles associated with a branch of knowledge. Typically, it encompasses concepts such as
paradigm, theoretical model, phases and quantitative or qualitative techniques.

 RESEARCH DESIGN:

The research design refers to the overall strategy that choose to

integrate the different components of the study in a coherent and logical way, thereby,
ensuring effective address the research problem; it constitutes the blueprint for the
collection, measurement, and analysis of data. The research design of the project is
descriptive as it describes data and characteristics associated with the population
Advertising on tourism development Descriptive research is used to obtain
information concerning the current status of the phenomena to describe, whatexists
with respect to variables in a given situation.

 RESEARCH DESIGN AND SAMPLE SIZE:

The research design is the arrangement of conditions for collection

and analysis of data in a manner that aims to combine relevance to the research
purpose with economy in procedure. The research design is the conceptual structure
within which research is conducted; it constitutes the blueprint for the collection,
measurement, and analysis of data. The sample size of this study is an optimum size
taken in the total population.

 SAMPLING METHOD

The sampling method is Non-probability Sampling under Convenience

Sampling technique was used.

 SAMPLE SIZE:

12
 Totally 28 respondents were selected for the purpose of the study.

OBJECTIVES OF THE STUDY:

The objectives of the studies are follows as:-

 To determine the level of satisfaction about the services of UPI Payment.

 To study about the importants of UPI Payments.

 To incestigate challenges faced by the customers during UPI Payment.

 To know the satisfaction level of customers delinf with UPI.

LIMITATIONS OF THE STUDY :

Due to time constraint the number of respondents was limited to 28 only. Reports
are prepared only with the opinion of the selected respondents.

PERIOD OF THE STUDY:

The period of the study has been from March 2022 to 2023.

DESIGN OF THE QUESTIONNAIRE:

 A Questionnaire for the study was circulated in google form containing questions
relating to the study, through which the researcher collected the required data.

 Questionnaire was designed in such a manner that it would facilitate the

respondents to reveal their opinion about the study on the consumers perception
towards UPI Payments

DATA:

Data refers to information or facts. It is the process of grouping the statistical data under
various understandable homogeneous groups for the purpose of convenient interpretation.
Uniformity of attributes is the basis criterion for classification; and the grouping of data is
made according to similarity.

METHODS OF DATA COLLECTION:

13
 1. Primary Data

2. Secondary Data

1.PRIMARY DATA:

Primary data is the data which is collected for the first time. It is original in
nature and gives raw information. For the purpose of collection of primary data, a well-
structured questionnaire was filled by the respondents.

2. SECONDARY DATA:

Secondary data are the data that has been collected and analysed by someone else.
Those data may either be published or unpublished.Published data is published report,
records, books, internet etc.Unpublished data includes diaries, biographies etc. are those data
used for research.

SAMPLING METHOD:

Sampling is the process of selecting a representative group from the population

under study. The target population is the total group of individuals from which the sample
might be drawn. A sample is the group of people who take part in the investigation. The
people who take part are referred to as respondents. The sampling used for the study is
convenient sampling. The sampling is selected by the researcher for the purpose of
convenience results to access.

STATISTICAL TOOLS USED:

The following statistical tools were used in the study.

 Chi- Square Test.

 Simple percentage analysis

1. SIMPLE PERCENTAGE ANALYSIS:

This is a method to compare two or more data. It identifies the

relationship between the data.

 SAA= No. of Respondents x 100

 Total no of respondents
 Where, SAA is simple Average Analysis.

14
2. CHI-SQUARE ANALYSIS:

To the chi-square test either as a test of goodness of fit or as a test to judge

the significance of association between attributes, it is necessary that the observed as well as
theoretical or expected frequencies must be grouped in the same way and the theoretical
distribution must be adjusted to give the same total frequency.

Chi-Square Test X2 = Σ (O-E)2

Where, O = Observed frequencies (given)

E = Expected frequencies

E = Row Total x Column Total

Grand Total

Hypothesis:

“Conjectural statement of the relationship between two or more variables is called

Hypothesis”-Kerlinger

“Hypothesis is a proposition, which can be put to test to determine validity”- Goode

and Hatt.

 Null Hypothesis (H0)

 Alternative Hypothesis (H1)

Null Hypothesis (H0):

The term “Null Hypothesis” is a general statement or default position that there
is no relationship between two measured phenomena, or no association among groups. Null
hypothesis is formulated only to test whether there is any relationship between variables
related to the problem being studied. Usually the null hypothesis is formed as a negative
statement.

Alternative Hypothesis (H1):

The Alternative Hypothesis is the hypothesis used in hypothesis testing that is

contrary to the null hypothesis. It is usually taken to be that the observations are the result of

15
a real effect (with some amount of chance variation superposed). Alternative is a statement,
which is accepted, after the null hypothesis is rejected based on the test result.

IV. ANALYSIS OF DATA AND INTERPRETATION OF DATA

Data interpretation is the process of making sense of numerical data that
has been collected, analysed, and presented. Interpretation of data plays a vital role in
research.

DATA ANALYSIS:

The process of evaluating data using analytical and logical reasoning to examine
each component of the data provided. This form of analysis is just one of the many steps that
must be completed when conducting a research experiment. Data from various sources is
gathered, reviewed, and then analysed to form finding or conclusion. There is a variety of
specific data analysis method, some of which include data mining, text analysis, business
intelligence and data visualizations.

INTERPRETATION:

Interpretation is the act of explaining, reframing or otherwise the understanding

of something. Interpretation requires text, language or idea and then gives explanation of it. A
computer may produce masses of data, but it requires interpretation of the data for people to
understand it.

TABLE – 4.1

GENDER WISE CLASSIFICATION

GENDER No.of Respondents % Of Respondents

Male 15 53.57

Female 13 46.43

Total 28 100

16
SOURCE: Primary data

INTERPRETATION:
From the above table 4.1 it is inferred that 53.57% of the respondents are male and
the remaining 46.43% female respondents.

CHART 4.1

GENDER

below 18
4%

20-30
96%

TABLE – 4.2

AGE WISE CLASSIFICATION

Age(in years) No.of Respondents % of Respondents

Below 18 1 3.57

20-30 26 92.86

30-40 - -

40-50 1 3.57

17
 Above 60 - -

Total 28 100

SOURCE: Primary data

INTERPRETATION:

The above table 4.2 shows the 3.57% of the respondents are in the age group of
below 18 years and 92.86% of the respondents are in the age of 20-30 years and 0%of the
respondents are in the age group of 30 to 40 years 3.57% of the respondents are in the age of
40 to 50 years and 0% of the respondents fall in the age group of above 60 years.

CHART 4.2

AGE

below 1820-3030-4040-50above 60

18
 TABLE 4.3

EDUCATION QUALIFICATION

EDUCATION No of RESPONDENTS % of RESPONDENTS

QUALIFICATION

Schooling 1 3.57

Under Graduation 26 92.86

Post Graduaction - -

Others 1 3.57

Total 28 100

SOURCE: Primary data

INTERPRETATION:
From this above table 4.3 it is inferred that 92.86% of the respondents are
undergraduates and the 3.57% of the respondents are others and the 3.57% of the respondents
are school students.

19
 CHART 4.3

100.00%
90.00%
80.00%
70.00%
60.00%
50.00%
40.00%
30.00%
20.00%
10.00%
0.00%

schooling UG others

TABLE 4.4

OCCUPATION WISE CLASSIFICATION

OCCUPATION No of Respondents % Of Respondents

Student 25 89.29

20
 Employment 2 7.14

Unemployment 1 3.57

Total 28 100

SOURCE: Primary data

INTERPETATION:

From the above table 4.4 shows the 89.29% of the respondents are students.
7.14 % of the respondents are employees and 3.57% of the respondents are unemployment.

CHART 4.4

OCCUPATION

Unmarried

Married

0 20 40 60 80 100

21
 TABLE 4.5

MARITAL STATUS

MARITAL STATUS No of Respondents % of Respondents

Single 26 92.86

Married 2 7.14

Total 28 100

SOURCE: Primary data

INTERPRETATION:
The above table 4.5 shows that nearly 7.14% of the respondents are married
and the remaining 92.86 % are unmarried.

22
 CHART 4.5

Chart Title

7%

Married
Unmarried

93%

CHI -SQUARE TESTING:

Chi-Square test between the Gender of the respondents and their level of
satisfaction about challenges of UPI payment.

SOLUTION:

Basis Male Female Total

Money not 6 3 9
send/received

Bank server down 9 9 18

Others - 1 1

15 13 28

23
HO: There is significant difference in gender and the level of satisfaction of the sample
respondents about the challenges of UPI Payment.

H1: There is no significant difference in gender and the level of satisfaction of the sample
respondents about the challenges of UPI Payment.

𝑬𝑿𝑷𝑬𝑪𝑻𝑬𝑫 𝑶𝑼𝑻𝑷𝑼𝑻 = 𝑻𝑶𝑻𝑨𝑳

𝑻𝑶𝑻𝑨𝑳 × 𝑪𝑶𝑳𝑼𝑴𝑵 𝑻𝑶𝑻𝑨𝑳
𝑶𝑽𝑬𝑹𝑨𝑳𝑳

EXPEXTED FREQUENCY:

O E O-E (O-E)2 (O-E)2/E

6 4.82 1.18 1.39 0.29

9 9.64 -0.64 0.41 0.04

- 0.54 -0.54 0.29 0.53

3 4.18 -1.18 1.39 0.33

9 8.36 0.64 0.41 0.05

1 0.46 0.54 0.29 0.63

28 28 0 - 1.88

24
 NDF = n-1
= 3-1
=2

Value of X2 for 2 ndf @5% level = 5.991

Calculated value < Table value

CONCLUSION:

Since calculated value of x2 is lesser than table value of x2 , Ho is accepted

V. FINDINGS SUGGESTION AND CONSLUSION

FINDINGS:

 Nearly 53.6%of respondents are male and remaining 46.4% are female.

 Most of the respondents are belong to the age group of 20-30.

 Majority of the respondents are students.

 Nearly 64% of respondents are aware of UPI risks and remaining 36 % are no.

 Mostly 64.3% od respondents face the problem of bank server down and 32.14%of

respondents face money not sent or received.

25
SUGGESTIONS:
 The internet connectivity can be strengthened by using high speed of network like 5G
network so that the server problems and transactions failures during UPI payments
can be avoided.

 The UPI Payments can be made easily accessible so that even older people and
uneducated people can also get benefitted. UPI Payments can be made available in all
local languages.

 Proper awareness and guidance in legislative measures in UPI can be given to all the
merchants.
 There is no cyber threats till date in UPI services in the business world, in future it
may be a concern, so the security system can be improved and strengthened highly
like using advanced software to avoid risk in cyber threats.

 From the findings, most of the people are not aware of UPI payemnts. So, the bank
companys should conduct awareness programme in both rual and urban areas .

CONCLUSION:

In this technological world, where people are going techno-

freak, the Unified Payment Interface System is delivering a great user-friendly experience.
People will need to have a better understanding of the technology if they want to use this
system. All the banks are not completely computerized. Implementing UPI means a better
trained staff, merchants, retailers, and upgrading the existing system of technology. UPI is a
grand step towards making the cashless payments faster, smoother and easier. Unified
Payments Interface powers multiple bank accounts into a single mobile application (of any
participating bank), merging several banking features, seamless fund routing & merchant
payments into one hood.

26
BIBLIOGRAPHY:

1. Damodhar, G & Sunitha, T. (2020), “E-Commerce in India: E-Payment

methods, trends and challenges”. International Journal of Engineering Applied
Sciences and Technology, Vol. 5, Issue 7, ISSN No. 2455-2143.

2. Moghavvemi, S. (2020), “Drivers and barriers of UPI payment adoption:

Malaysian merchant’s perspective”. Journal of Retailing and Consumer Services,
59. 1-12.

3. Lee, J. (2019), “A study on the reciprocal relationship between user perception

and retailer perception on platform-based mobile payment service”. Journal of
Retailing and Consumer Services.,48. 7-15.

4. Abebe, F. (2020), “Factors affecting UPI Payment adoption by merchants in

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PROJECT QUESTIONNAIRE:
A detailed study on challenge in upi payment for indian bank
customers in chennai city during the period 2020 – 2023.

1. NAME:

2. Age:

 Below 18
 20-30
 30-40
 40-50
 Above 60

3. Gender: *

 Male
 Female
 Others

4. Occupation:*

 Student
 Employed
 Unemployed
 Other: -

5. Education Qualification: *

 Schooling
 Under Graduation
 Post Graduation
 Profession
 Others

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6. Martial status *

 Single
 Married

7. Did you aware of UPI Risks? *

 Yes
 No

8. If u aware of UPI ;HOW? *

 Not sharing any personal details

9. Is the payment method is convenient? *

 Yes
 No

10. What type of problem you have faced while UPI Payment?

 Money not sent/received

 Bank server down
 Others:

11. If you have any suggestion regarding improving UPI Method?

 Your answer

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