Factors Driving the Adoption of UPI Services Based on UTAUT Model

Abstract

Unified Payment Interface (UPI) enables transfer of money between the two bank accounts through a mobile platform. The objective of present research work is to analyse the factors affecting adoption of UPI services based on Unified Theory of Acceptance and Use of Technology (UTAUT) model. The relationship between demographic variables and factors affecting adoption of UPI services was also analyzed. The convenient sampling method was used to collect the data and the responses were analyzed using multiple regression analysis. Perceived efficiency, effort expectancy, social influence was found to have significant association with behavioural intention to adopt UPI services. However, there was no significant impact of gender and age on factors affecting adoption of UPI services based on Unified Theory of Acceptance and Use of Technology (UTAUT) model.