Navigating the Digital Payment Landscape: An Analysis of UPI App Usage and Security Perceptions
Abstract
The study investigates UPI (Unified Payments Interface) app usage among 513 respondents, revealing insights into demographic and transactional trends in digital payments. Predominantly from Ahmedabad and Gandhinagar, students emerge as the largest user group, indicating widespread adoption among the youth. UPI apps are popular alongside cash and mobile banking, showcasing evolving payment preferences.
Google Pay leads the UPI app market, fostering competition and innovation. Security perceptions vary, with overall confidence but persistent concerns, emphasizing the need for strengthened security measures. Many respondents faced fraudulent UPI transactions, emphasizing the importance of rapid resolutions and robust security protocols.
Despite digital trust, some respondents remain skeptical, highlighting the necessity for transparent policies, proactive security, and educational initiatives to bolster trust. In summary, the research provides a holistic view of UPI app usage, aiding stakeholders in enhancing security and user experiences in the dynamic digital payment landscape. Addressing the concerns outlined can foster industry growth with heightened user satisfaction and trust.
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