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VOL. 13, ISSUE 2 (2026)
The role of UPI in strengthening digital payment systems and cashless economy in India
Authors
Dr. M Priyanghaa
Abstract
The Unified Payments
Interface (UPI), launched by the National Payments Corporation of India (NPCI)
in April 2016, has emerged as the world’s most widely adopted real-time payment
platform. This research investigates UPI’s structural architecture, adoption
trajectory, macroeconomic consequences, and its pivotal role in advancing
India’s vision of a cashless economy. Driven by cooperative principles of open
access, interoperability, and democratic participation, UPI has democratised
financial services across urban and rural India alike. Issues of digital
literacy, cybersecurity, and market concentration continue to pose challenges.
This article examines the regulatory framework, survey findings from selected
districts, and actionable suggestions to deepen UPI penetration and strengthen
the digital payment ecosystem in India.
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Pages:57-60
How to cite this article:
Dr. M Priyanghaa "The role of UPI in strengthening digital payment systems and cashless economy in India". International Journal of Multidisciplinary Research and Development, Vol 13, Issue 2, 2026, Pages 57-60
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