Comparative Study of Online Payment versus Offline (Traditional) Payment with Emphasis on UPI in India and Changing Payment Regulations

Pereira, Robert Alex (2024) Comparative Study of Online Payment versus Offline (Traditional) Payment with Emphasis on UPI in India and Changing Payment Regulations. Masters thesis, Dublin, National College of Ireland.

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Abstract

This paper aims to analyze the online and offline payment systems with special attention to the uptake of the UPI (Unified Payment interface) in India. As the economy increasingly goes online, it is essential to identify the factors that affect payment choices by stakeholders such as policymakers, financial institutions, and businesses. This study was informed by the desire to investigate numerous variables to advance technological growth on consumers’ behaviors and UPI on India’s payment systems. To counter this, the study adopted both the quantitative survey of 421 respondents from Maharashtra alongside the qualitative synthesis of literature alongside the quantitative survey. The research findings indicated that the factors influencing the uptake of UPI include perceived convenience, security and regulations. Thus, the work identified that regulatory adjustments like the imposition of zero MDR (Merchant Discount Rate) and enhanced transaction thresholds had acted to advance the usage of UPIs, especially in youthful city dwellers. The findings of this research based on previous studies enhance the knowledge in the understanding the growth of UPI in general terms. In the practical level, the study reveals the need for increased security and user awareness to increase use of services. However, due to the sampling of urban respondents, the future research should consider investigating the modes of payment preferred by the rural and less technologically oriented population. The findings of this work are beneficial for enhancing the overall understanding of the digital payment systems along with identifying requirements for the improvement of payment solutions available in a diverse market.

Item Type:	Thesis (Masters)
Supervisors:	Name Email Heeney, Sean UNSPECIFIED Cosgrave, Noel UNSPECIFIED
Uncontrolled Keywords:	UPI growth; factors identification; regulatory impact; Factor analysis
Subjects:	H Social Sciences > HG Finance > Banking > E-banking H Social Sciences > HG Finance > Financial Services H Social Sciences > HG Finance > Fintech T Technology > T Technology (General) > Information Technology > Fintech
Divisions:	School of Computing > Master of Science in FinTech
Depositing User:	Ciara O'Brien
Date Deposited:	05 Aug 2025 11:46
Last Modified:	05 Aug 2025 11:46
URI:	https://norma.ncirl.ie/id/eprint/8433

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