A STUDY OF CONSUMER PREFERENCE FOR CASHLESS PAYMET METHOD IN DELHI/NCR

The Indian government has actively pushed for digitization and the Go cashless initiative to help regulate and ease cash transactions following demonetization. The implications of demonetization have resulted in exponential growth in digital payment options such as e-banking, mobile banking, and card transactions, among others. The Unified Payments Interface (UPI) is a fast-growing digital payment system that allows users to send and receive money using a Virtual Payment Address (VPA). Customers in the service sector are drawn to UPI because of its advantages over other digital payment methods, such as its availability 24 hours a day, 365 days a year, and its ease of use and safe gateway. This study aimed to examine customer perceptions of UPI systems awareness and usage in the Delhi NCR region. Primary data was acquired, for this research, using a structured questionnaire, while secondary information was gathered through government reports, the internet, and other sources. The impact of UPI payments over plastic money on user gender, age, monthly income, and occupational data are examined to draw conclusions from the research.