International Journal For Multidisciplinary Research

E-ISSN: 2582-2160   •   Impact Factor: 9.24

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Volume 8 Issue 5
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Impact of UPI Adoption on Financial Behaviour of Indian Consumers

Author(s) Mr. Kawaljeet Singh Baluja
Country India
Abstract The Unified Payments Interface (UPI) has become a major component of India's digital payment infrastructure and has moved digital transactions from occasional electronic payments to frequent, everyday financial activity. This paper examines the potential impact of UPI adoption on the financial behaviour of Indian consumers, with particular attention to spending, saving, budgeting, financial awareness, and investment-related behaviour. The study uses a descriptive and analytical research framework supported by secondary evidence from the National Payments Corporation of India, the Reserve Bank of India, the World Bank, and recent academic literature. UPI transaction activity has expanded substantially: official information indicates that UPI processed 24,161.69 crore transactions valued at approximately Rs 314 lakh crore during financial year 2025-26, demonstrating the scale at which digital payments have entered routine consumer life. The paper proposes an empirical model in which UPI adoption is represented through frequency of use, perceived convenience, ease of use, trust and perceived security, while financial behaviour is represented through spending control, saving discipline, budgeting, financial awareness, and investment behaviour. Prior evidence indicates that digital payment convenience can reduce transaction friction and may influence consumption decisions, while the broader digital financial ecosystem can improve access to formal financial services.
Field Business Administration
Published In Volume 8, Issue 5, September-October 2026
Published On 2026-10-11
DOI https://doi.org/10.36948/ijfmr.2026.v08i05.89449
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CrossRef DOI prefix of IJFMR is 10.36948/ijfmr

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