Issues and Challenges of Unified Payment Interface Apps Vohra Anupama*, Laheri Vishal Kumar**, Dangi Hamendra Kumar*** *Associate Professor, FMS, University of Delhi, Delhi, India. anupamavohra@fms.edu **Research Scholar, FMS, University of Delhi, Delhi, India. vishal.laheri_phd@fms.edu ***Associate Professor, Department of Commerce, University of Delhi, Delhi, India. hkdangi@fms.edu Online published on 15 June, 2017. Abstract Unified Payment Interface (UPI) is a revolutionary method of money transfer enabled by the banks. This mobile app-based payment system is developed by the National Payment Corporation of India (NPCI). The NPCI manages the money transfer switch of the UPI payment system. This article is focused on highlighting the issues and challenges for using UPI (Unified Payment Interface) apps (applications) and suggest ways that may increase their usage which can be helpful in reaching a cashless economy at the earliest. Based on the theoretical reviews, it was found that UPI come with some set of limitations like usability, positioning, legal, awareness etc. The present study highlighted the major problems with this online platform of payment system. The study begins with the background of demonetization and launch of UPI system by various banks. In the next section of the study, the idea of UPI after demonetization is discussed. In the later section, the study emphasized on key challenges with UPI. The study concludes with the suggestions on how to overcome the challenges faced in making UPI more successful towards achieving cashless economy. Top Keywords UPI, demonetization, cashless economy, NPCI. Top |