Research Information
Authors: Ms. Sadiya Khudeja & Ms. Sowmya DS
Publication: EPRA International Journal of Multidisciplinary Research (IJMR)
Date: June 2025
DOI: 10.36713/epra22665
Research Abstract
This research explores how two different generations – Gen Z (18–24 years) and Millennials (25–40 years) in India – approach the Unified Payments Interface (UPI) differently in terms of adoption, usage patterns, and overall experiences.
UPI, which serves as an advanced real-time digital payment system, has fundamentally transformed India’s financial ecosystem by making peer-to-peer (P2P) and peer-to-merchant (P2M) transactions incredibly seamless.
Although UPI has gained remarkable widespread acceptance, there’s still a significant gap in academic research when it comes to understanding how different generations perceive and use UPI.
This study seeks to bridge that gap by pinpointing the crucial factors that shape UPI adoption, build trust, influence user satisfaction, and create challenges for each generation.
Study Methodology
A cross-sectional survey was carried out with 200 participants, with an equal split between Gen Z and Millennials, to gather meaningful insights on:
- How frequently do people use UPI
- How well they know advanced features like UPI Credit
- How digital literacy affects their experience
- What security worries do they have
- Their overall trust levels
Statistical approaches, including independent samples t-tests and one-way ANOVA, were employed to examine the differences in how these two generational groups use the platform.
Key Findings
The research shows that Gen Z demonstrates a much stronger enthusiasm for embracing UPI, primarily because they’re drawn to its convenience, speed, and intuitive interface.
On the other hand, Millennials tend to voice more significant worries about transaction security, system reliability, and overall performance.
Research Implications
These findings offer important insights for fintech developers, policymakers, and financial institutions who want to boost UPI’s user engagement, especially when it comes to promoting digital financial inclusion and pushing forward the cashless economy movement.
Additionally, the study provides actionable recommendations for enhancing UPI’s operational efficiency, strengthening security measures, and improving user engagement across various demographic groups, which supports the broader objectives of technology acceptance and financial digitalization in emerging markets.
Keywords
Unified Payments Interface (UPI), Digital Payment Systems, Fintech Adoption, Mobile Payments, Cashless Economy, Technology Acceptance.
Citation
Khudeja, S., & Sowmya, D. S. (2025). The success of UPI: A comparative study of Gen Z and Millennials. *EPRA International Journal of Multidisciplinary Research (IJMR)*. DOI: 10.36713/epra22665
