Behavioural intention and user contentment towards digital payment – A study on UPI amongst Indian Masses

Abstract

There is a rapid movement towards Digitization in India. For the acceptance of Digital Payment (DP), a distinctive platform was presented by Demonetization as a substitute for cash for Indian consumers. After demonetization, the adoption of cashless transactions was extended as part of government reforms. A next-generation mobile-centric Payment System (PS) termed Unified Payment Interface (UPI), which enables real-time bank payments, was launched by NPCI in August 2016. For evaluating the UPI-DP system utilization amongst the Indian population, this study was introduced. In India, the data was gathered from the metro cities. For evaluating the outcomes, a simple random methodology was wielded. Analyzing the user’s behaviours toward the UPI and DP system is the goal. A partial least square-centric Structural Equation Modelling (SEM) was deployed for appraising the Continuance Intention (CI) and User Satisfaction (US) with the utilization of UPI. As per the outcomes, the key factors of consumer usage behaviour towards the UPI-DP are (1) Performance Expectancy (PE), (2) Effort Expectancy (EE), (3) Social Influence (SI), (4) Facilitating Condition (FC), and (5) Perceived Risks (PR). By saving time and transactional handling fees, the aim to deploy UPI was considerably influenced.