A STUDY ON CUSTOMERS PERCEPTION TOWARDS USING UPI (UNIFIED PAYMENT INTERFACE) PAYMENT METHOD WITH RELATION TO BANGALORE CITY

Unified Payments Interface (UPI) is an online payment gateway that connects various bank accounts into a single mobile application, which allows combining several banking features, seamless fund routing & merchant payments under a single bracket. India has taken a most important move towards attaining a cashless nation with the introduction of the Unified Payment Interface (UPI). UPI is a payment system started by the National Payments Corporation of India (NPCI) along with the help of Reserve Bank of India (RBI) and Indian Banks Association (IBA) in the year 2016. NPCI aims in bringing radical innovations in the retail payment systems with the help of technology to create a new business model that gains greater efficiency in operations. The researcher aims to find customer’s perception towards UPI, to study the Pros and Cons of using UPI and to assess the level of satisfaction among Customers towards UPI, The researcher used primary and secondary sources for collection of data also Frequency distribution, Mean, One way ANOVA, Factor analysis and T test analysis for analysing and interpreting the data. In this study it is observed that there is a positive response and the perception of the customers towards unified payment interface is on the brighter side. However there are a comparatively smaller percentage of the general public are not acquainted with the technical knowledge about the usage and also face many other problems relating to transaction failure