Abstract:

This paper will look at customer trust and fear relating to the usage of Unified Payments Interface (UPI) in India, and how this is likely to be continued, despite the fear of digital fraud. The users have come to trust UPI as a necessary way of day to day financial dealings and at the same time move through their fear of its convenience and on the other hand, learn to fear the possibility of security risks. The study compares Composite Trust Scores and Composite Fear perception Scores using primary survey data composed of 70 UPI users to determine the psychological reaction of users towards UPI payments. The t-tests with one sample show that the level of trust and fear of users is significantly higher than the neutral value, which proves the co-occurrence of confidence and anxiety in the behavior related to digital payments. Moreover, the results of the multiple regression analysis indicate that neither trust nor fear are significant predictors of further use of UPI because of convenience. The results indicate that the adoption of UPI has become a routine and a need-based behaviour, in which emotion perceptions are less important than convenience does.