ABSTRACT
We have examined the psycho-social factors influencing the adoption and use of the Unified Payments Interface (UPI) among the youth in India. Utilizing the Theory of Planned Behaviour (TPB), the research thoroughly investigates the psychological and social predictors affecting youth's usage of UPI, which has emerged as the dominant payment platform in the country. Employing a robust quantitative approach, the researchers conducted a cross-sectional survey involving 208 participants in Hyderabad and Bhopal, using structured questionnaires in the form of a Likert scale. The data analysis was meticulously executed using Structural Equation Modelling (SEM). The findings unequivocally indicate that perceived control, perceived behavioural control, and social norms significantly influence UPI adoption intention. These findings hold crucial implications for policymakers, financial institutions, and digital payment service providers, stressing the necessity of tailored interventions aligned with the psycho-social characteristics and demographics of the target group. This research not only contributes to existing knowledge by presenting a comprehensive psycho-social assessment of young people's adoption of UPI in India but also offers indispensable insights for enhancing the utilization of digital payments. Moreover, it strongly advocates for future research to encompass additional factors such as culture, technology acceptance, financial literacy, and regulatory environment to comprehensively grasp the dynamics of UPI adoption across different contexts.
