Abstract
TO STUDY THE PERCEPTION OF DIGITAL BUYER’S REASON FOR HESITATION AND SLOW-ADAPTATION OF UNIFIED PAYMENT INTERFACES
Dr. Aparna Goyal*
ABSTRACT
Going cashless is trending in India nowadays. After the Demonetization move by the government, people have gone digital and starting to adopt modern ways of cashless payments. The sole purpose of Demonetization is not only to remove black money from the economy but also to encourage people for adopting cashless payment options. Instead of standing in a queue for the withdrawal of money, it is much better to adopt cashless payment options for the transactions. A cashless method can be traced easily as it leaves its footprints and hence is more transparent. UPI (Unified Payments Interface) is a mobile payment system, which allows you to do various financial transactions on your Smartphone. UPI allows you to send or receive money with the help of virtual payment address without entering the bank information of the other person. A merchant has to enroll with the banks in order to accept payments through UPI. One of the main areas of concern among online users is security. The application should be able to provide a solution for end-to-end strong security and data protection. Security meaning not to reveal too much data likes banking or personal details, which could be misused by someone. For the convenience of the customers, the solution had to offer 1-click 2-factor authentication, which can help in protecting against phishing, risk scoring, loss of data etc.
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