Impact of Covid-19 on Digital Payments: A Study with  Special Reference to UPI

Dr. Pallavi Vyas; Prof. Dharmendra Mistry

doi:https://doi.org/10.17492/jpi.pragati.v8i2.822102

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Impact of Covid-19 on Digital Payments: A Study with Special Reference to UPI

Pallavi Vyas, Dharmendra Mistry

Vol 8 , Issue 2 , July - December 2021 | Pages: 29-42 | Research Paper

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https://doi.org/10.17492/jpi.pragati.v8i2.822102

Published Online: December 15, 2021

Author Details ( * ) denotes Corresponding author

1. * Pallavi Vyas, Assistant Prof & Head of Economics Department, Department of Economics, Prin. M. C. Shah Commerce College, Ahmedabad, Gujarat, India (pvyas1985@yahoo.com)

2. Dharmendra Mistry, Professor and Principal, Department of Commerce and Management, Prin M. C. Shah Commerce College, Ahmedabad, Gujarat, India (dsmistry76@yahoo.co.in)

The paper aims to study the use of UPI during Covid-19 as well as the effects of Covid-19 on the size of UPI transactions since its inception in India. The 30-month period in the current study was 15 months after Covid-19 (April 2020 to June 2021) and 15 months before Covid-19 (January 2019 to March 2020). The existing study model includes all member banks offering UPI during the study period, i.e., from January 2019 to June 2021. The study found that there was a negative or declining growth rate in UPI during the first and second wave lockdown of Covid-19 and a significant difference between the number of member banks and the size of UPI transactions. Further a strong positive relationship was observed with selected variables.

Keywords

Digital payment, Unified payments interface, Covid-19, Growth rate of UPI.

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