Keywords
Elder
Security
UPI
User friendly
How to Cite
Abstract
The proliferation of the Unified Payments Interface (UPI) has become a cornerstone of India's financial sector transformation, playing a vital role in its journey towards a cashless economy. UPI facilitates the transfer of money in real time between bank accounts using mobile applications like Google Pay, PhonePe, BHIM, Paytm, and others. While UPI has seen widespread adoption across various demographics in India, the older population remains critical in addressing barriers, fostering digital literacy, and ensuring inclusivity in the digital payment ecosystem. Thus, in this study we have studied the impact of various behavioural factors on adoption of UPI among elderly people. The sample consists of elder UPI users i.e. individuals who are above 60 years of age. Data was collected by conducting a field survey questionnaire completed by 153 respondents from Shimla, Himachal Pradesh, India. The findings suggest that benefits associated with using UPI, ease of using UPI and the potential risk of losing money due to the sharing of personal information are the most important factors influencing behaviour to use UPI among elderly users. Elderly users are more inclined to adopt UPI if they believe it improves their financial transactions and find it user-friendly. However, concerns about transaction risks, such as security, play a key role in hindering adoption.
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