A secure Future for UPI: Identifying Key Drivers and Overcoming ‎Challenges

  • Authors

    • Geetha K Assistant Professor of Commerce, NSS College Ottapalam, Palappuram Post,‎ Kerala-679103, India &Ph.D. Research Scholar, Department of Commerce,‎ Avinashilingam Institute for Home Science and Higher Education for Women,‎ Coimbatore-641043, Tamil Nadu, India
    • Dr. K. Kanniammal Professor, Department of Commerce,‎ Avinashilingam Institute for Home Science and Higher Education for Women,‎ Coimbatore-641043, Tamil Nadu, India
    https://doi.org/10.14419/ethndm93

    Received date: May 26, 2025

    Accepted date: July 1, 2025

    Published date: July 27, 2025

  • Usage Behaviour; Barriers; Security Factors; Perception; Innovation Resistance

  • Abstract

    India has seen a breakthrough in digital payments because of the Unified Payments Interface ‎‎(UPI). Its rapid transfer capabilities and ease of usage have fueled widespread popularity. ‎Security issues have surfaced as a result of this tremendous expansion. To guarantee a safe ‎future for UPI, this study investigates two key drivers: security measures and UPI challenges. ‎This paper depicts rural households' concerns about the security aspects of UPI usage and its ‎challenges in the Palakkad district of Kerala. A structured schedule was followed to collect ‎primary data from 400 rural households of the Palakkad district of Kerala. The responses are ‎analysed using statistical tools such as regression, one-way ANOVA, mean, and standard ‎deviation executed through the Statistical Package for Social Sciences, and the output disclosed ‎that the most adversely affecting factor on usage behaviour of rural households is the usage barrier, ‎and the security properties are significantly positively influencing the usage behaviour of rural ‎households. The results support reducing the glitches in the usage behaviour of UPI among rural ‎households and improvisation of security properties to extend the UPI services‎.

  • References

    1. Anchal & Leena (2023), Adoption of UPI (unified payments interface) by rural people: An empirical investigation, (IITM Journal of Business Stud-ies) (Volume 11, Issue 1, pp. 23-41), ISSN:2393-9451.
    2. Ali, M. A., Hussin, N., & Abed, I. A. (2019). Electronic payment systems: Architecture, elements, challenges and security concepts: An overview. In Journal of Computational and Theoretical Nanoscience (Vol. 16, Issue 11, pp. 4826–4838). American Scientific Publishers. https://doi.org/10.1166/jctn.2019.8395.
    3. Baliyan, D., Singh, N., & Professor, A. (2023). UNIFIED PAYMENTS INTERFACE (UPI): A DIGITAL TRANSFORMATION IN INDIA. In International Journal of Creative Research Thoughts (Vol. 11). www.ijcrt.org.
    4. De Kerviler, G., Demoulin, N. T. M., & Zidda, P. (2016). Adoption of in-store mobile payment: Are perceived risk and convenience the only driv-ers? Journal of Retailing and Consumer Services, 31, 334–344. https://doi.org/10.1016/j.jretconser.2016.04.011.
    5. Dotzauer ,k.,&Haiss.F.(2017).Barriers Towards the adoption of Mobile Payment services, Masters’ thesis, Karlstad University, Sweden.
    6. Fernandes, D. J., Crasta, S. J., & Hans, V. B. (2019). Digital Banking – Boon or Bane? SSRN Electronic Journal. https://doi.org/10.2139/ssrn.3353407.
    7. Hassan, M. A., Shukur, Z., Hasan, M. K., & Al-Khaleefa, A. S. (2020). A review on electronic payments security. In Symmetry (Vol. 12, Issue 8, pp. 1–24). MDPI AG. https://doi.org/10.3390/sym12081344.
    8. Hon, L. Y., Tuck, C. E., & Lin Yu, K. (2011). Efficiency in the Malaysian Banking Industry. Asean Economic Bulletin, 28(1), 16. https://doi.org/10.1355/ae28-1b.
    9. Joshi, R., Goel, R., & Garg, S. (2019). A Study on Customers’ Perception on Adoption of Digital Banking in Indian Banking Sector. SSRN Elec-tronic Journal. https://doi.org/10.2139/ssrn.3363623.
    10. Jubairt, & Yakoobc. (2017). ACCEPTANCE OF DIGITAL WALLETS IN KERALA: AN EMPIRICAL STUDY. www.iaset.us.
    11. Kaur, P., Dhir, A., Singh, N., Sahu, G., & Almotairi, M. (2020). An innovation resistance theory perspective on mobile payment solutions. Journal of Retailing and Consumer Services, 55. https://doi.org/10.1016/j.jretconser.2020.102059.
    12. Keskar, Mugdha Y & Pandey, N. (2018). Internet banking: a review (2002–2016). Journal of Internet Commerce, 17(3). https://doi.org/10.1080/15332861.2018.1451969.
    13. Kharb, L., & Chahal, D. (2018). Digital Security Assistance View project Book on SE View project Network Security and Communication Security for Digital Payments: An Update (Issue 5). www.ijsrnsc.orgAvailableonlineatwww.ijsrnsc.org.
    14. Khan, P. S., & Jain, M. S. (n.d.). A Study on Usage of ePayments for Sustainable Growth of Online Business. www.iosrjournals.org.
    15. Laukkanen. T.(2016).Consumer adoption versus rejection decisions in seemingly similar service innovations: The case of the internet and mobile banking. Journal of Business Research,69(7),2432-2439. https://doi.org/10.1016/j.jbusres.2016.01.013.
    16. Malusare Lailtha. (2019). Digital Payments Methods in India: A study of Problems and Prospects. https://www.researchgate.net/publication/349076488.
    17. Moorthy, K., Suet Ling, C., Weng Fatt, Y., Mun Yee, C., Ket Yin, E. C., Sin Yee, K., & Kok Wei, L. (2017). Barriers of mobile commerce adop-tion intention: Perceptions of generation X in Malaysia. Journal of Theoretical and Applied Electronic Commerce Research, 12(2), 37–53. https://doi.org/10.4067/S0718-18762017000200004.
    18. Narayanan, J. (2021). A study on growth of UPI apps in india after Covid outbreak (Vol. 8). JETIR. www.jetir.orgc333.
    19. Rahman, M. M., Lesch, M. F., Horrey, W. J., & Strawderman, L. (2017). Assessing the utility of TAM, TPB, and UTAUT for advanced driver as-sistance systems. Accident Analysis and Prevention, 108, 361–373. https://doi.org/10.1016/j.aap.2017.09.011.
    20. Rajendran, A., & Shetty, K. (2017). Understanding the Customer’s Attitude Towards Acceptance and Usage of Online Banking Services Using Utaut Model Dynamics of Brand Personality Congruence and its influence on Trust, Customer Satisfaction and Loyalty in Banking View project.
    21. Salim, B. (2012). An Application of UTAUT Model for Acceptance of Social Media in Egypt: A Statistical Study. International Journal of Infor-mation Science, 2(6), 92–105. https://doi.org/10.5923/j.ijis.20120206.05.
    22. Slade, E. L., Dwivedi, Y. K., Piercy, N. C., & Williams, M. D. (2015). Modeling Consumers’ Adoption Intentions of Remote Mobile Payments in the United Kingdom: Extending UTAUT with Innovativeness, Risk, and Trust. Psychology and Marketing, 32(8), 860–873. https://doi.org/10.1002/mar.20823.
    23. Sivathanu, B. (2019). Adoption of digital payment systems in the era of demonetization in India: An empirical study. Journal of Science and Tech-nology Policy Management, 10(1), 143–171. https://doi.org/10.1108/JSTPM-07-2017-0033.
    24. S. Ram and J.N .Sheth (1989).Consumer Resistance to Innovations: The marketing problems and its solutions, The journal of consumer market-ing,Volume.6,no.2,pp.5-14. https://doi.org/10.1108/EUM0000000002542.
    25. Sahayaselvi, S. (n.d.). An Overview on Digital Payments International Journal of Research an Overview on Digital Payments. https://edupediapublications.org/journals.
    26. Seyal, & Rahim. (2011). Customer Satisfaction with Internet Banking in Brunei Darussalam: Evaluating the Role of Demographic Factors. E-Service Journal, 7(3), 47. https://doi.org/10.2979/eservicej.7.3.47.
    27. Shettar, R. M. (n.d.). DIGITAL BANKING AN INDIAN PERSPECTIVE. IOSR Journal of Economics and Finance, 10, 1–05.
    28. S. Yang. Y, Lu, S. Gupta and R Zhang (2012).Mobile Payment Services Adoption across time: An empirical study of the effects of behavioural beliefs ,social influences, and personal traits, Computers in Human Behaviour,Vol.28,no.1,pp-129-142. https://doi.org/10.1016/j.chb.2011.08.019.
    29. Tan, M., & Teo, T. S. H. (2000). Factors Influencing the Adoption of Internet Banking. Journal of the Association for Information Systems, 1(1), 1–44. https://doi.org/10.17705/1jais.00005.
    30. Tom, P. T. (n.d.). Digital Banking Habits among the Rural People with special reference to Kottayam IX (v),2248-2256.
    31. Tomić, N., & Todorović, V. (2018). Challenges of Transition to Cashless Society. Contemporary Issues in Economics, Business and Management.
    32. Tarhini, A., El-Masri, M., Ali, M., & Serrano, A. (2016). Extending the utaut model to understand the customers’ acceptance and use of internet banking in lebanon a structural equation modeling approach. Information Technology and People, 29(4), 830–849. https://doi.org/10.1108/ITP-02-2014-0034.
    33. Ullah Khan, H. (2014). E-banking: Online Transactions and Security Measures. Research Journal of Applied Sciences, Engineering and Technology, 7(19), 4056–4063. https://doi.org/10.19026/rjaset.7.766.
    34. Wright, A. (2002). Technology as an enabler of the global branding of retail financial services. Journal of International Marketing, 10(2), 83–98. https://doi.org/10.1509/jimk.10.2.83.19535.

  • Downloads

  • How to Cite

    K, G., & Kanniammal, D. K. . (2025). A secure Future for UPI: Identifying Key Drivers and Overcoming ‎Challenges. International Journal of Accounting and Economics Studies, 12(3), 275-282. https://doi.org/10.14419/ethndm93