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India is a developing country and is progressing at a rapid pace in terms of technology advancements, and infrastructure development. The growth rate has been tremendous in all sectors and India is ready to be third largest economy ( https://www.dqindia.com/news/indian-travellers-can-now-make-payments-using-phonepe-in-singapore-4473305 ) very soon. Out of all the sectors, the banking and finance sector has shown a significant boom after the central bank allowed people to use digital modes of payment. Today, whether it is a rich person or an auto rickshaw driver, everyone accepts cashless transactions. In this article, the authors study about the depth by which the UPI mode of payment has reached the grassroot level in India. A thorough comparative analysis among metropolitan states and non-metropolitan states has been done using the financial data taken from Kaggle. Although this mode of payment has brought disruption in the industry, there are still a few limitations due to which it hasn’t reached its full potential. These include lack of infrastructure, online fraud and lack of advanced cyber security. UPI mode of payment has become global, and many other countries are opting for it for convenience of their citizens and transfer of money.

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Penetration of UPI Payment Methods in Indian States: A Comparative Study on Metropolitan States Versus Other States

  • 会议论文

  • 发表日期：

    2025年

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  • Piyush Kumar,
  • Anita Venaik,
  • Radhika Goyal,
  • Utkarsh Venaik

摘要

India is a developing country and is progressing at a rapid pace in terms of technology advancements, and infrastructure development. The growth rate has been tremendous in all sectors and India is ready to be third largest economy ( https://www.dqindia.com/news/indian-travellers-can-now-make-payments-using-phonepe-in-singapore-4473305 ) very soon. Out of all the sectors, the banking and finance sector has shown a significant boom after the central bank allowed people to use digital modes of payment. Today, whether it is a rich person or an auto rickshaw driver, everyone accepts cashless transactions. In this article, the authors study about the depth by which the UPI mode of payment has reached the grassroot level in India. A thorough comparative analysis among metropolitan states and non-metropolitan states has been done using the financial data taken from Kaggle. Although this mode of payment has brought disruption in the industry, there are still a few limitations due to which it hasn’t reached its full potential. These include lack of infrastructure, online fraud and lack of advanced cyber security. UPI mode of payment has become global, and many other countries are opting for it for convenience of their citizens and transfer of money.