Authors: Dr. PALLAVI RALLAN¹, ARYA SHAH², DISHA KHERIA³, KASHISH GANDHI⁴, MEHZABEEN SHARMA⁵, SHARVARI MULAY⁶, SUKRUT DOSHI⁷ and Dr. PRAKASH BHATIA⁸*

Abstract

This study examines the adoption of the Unified Payments Interface (UPI) across different age groups. As the use of digital payments has increased rapidly, it has become essential to understand the adoption behaviour among different age groups. The problem addressed is the gap in understanding how factors influencing UPI adoption and satisfaction vary across the age groups. A descriptive, cross-sectional research design using primary data collection through structured surveys and secondary data collection for literature review. Respondents from Mumbai were analysed using descriptive statistics, chi-square test, ANOVA and post-Hoc tests with JAMOVI software. The primary objective was to assess UPI adoption patterns, analyse important adoption factors and measure the satisfaction levels across the different age groups. The findings reveal high UPI usage across all demographics, with notable differences in usage patterns: 18–25-year-olds predominantly use UPI for peer-to peer transfers and daily transport, whereas the 26–45 and 46+ age groups primarily use it for bill payments. Additionally, factors such as availability of payment options and user reviews are significantly more important for the 26–45 age group compared to others. The study concludes that while UPI is widely adopted, age-specific preferences and satisfaction levels must be considered by fintech companies and policymakers. Factors such as speed, security, and ease of use tend to be the most important in terms of satisfaction levels across all age groups. The recommendation includes that companies customise their strategies to address the varying needs of different age groups to further boost adoption and satisfaction.

Keywords: UPI adoption, Digital payments, Age groups, Importance of factors, User Satisfaction. Mumbai, India.

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