UPI: A Brilliant Technology Idea Executed Poorly

Trinity Journal of Management, IT & Media (TJMITM)
Year: 2017 (Jan-Dec), Volume: (8), Issue. (1)
First page: (32) Last page: (36)
Online ISSN: A/F
Print ISSN: 2320-6470

UPI: A Brilliant Technology Idea Executed Poorly
Ankit Dhamija1 and Deepika Dhamija2

1Assistant Professor, Amity Business School, Amity University Haryana
2Assistant Professor, Amity College of Commerce, Amity University Haryana
Corresponding author email id:

21 -04-2017


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Till a few years ago, nobody imagined that mobile phones would be used to transfer money and complete shopping transactions.But now, one doesn’t really have to visit a bank, stop by at an ATM, or carry a plastic credit or debit card to make purchases.Mobile banking through mobile apps now days are on boom. The continuous increase in mobile banking users is due to technological advancements which has restored and increase the faith of users towards mobile banking and different payment modes. In a developing country like India, where mobile users are growing at very fast speed, because of the low cost smart phones and people can also afford that technology, the problems and complexity will also growing rapidly. Users expectations in terms of speed, convenience and security are now a days a major concern. The technologies like NEFT, IMPS, RTGS etc. have been functioning very well but what next? What is the future of mobile banking? To make sure that mobile payments stay in the market in future and it is used by most users, the national payment corporation of India has initiated a new payment system called as unified payment interface(UPI) that make online payments much easier without requiring a digital wallet or credit or debit card. You either need to know the other’s person MMID (mobile money identifier) or a Virtual Payment Address (VPA) and phone number. All these features of UPI will surely boost the confidence of e-commerce and m-commerce customers as they won’t have to go through the hassled process entering the credit/debit card information every time and also no need of remembering the bank account numbers, IFSC code and severalpins associated with several bank accounts.


Mobile banking, UPI, NPCI, ecommerce,mcommerce, payment