Page 162 - IMDR JOURNAL 2023-24

IMDR’s Journal of Management Development & Research 2023-24

 Technical: If the transaction is not happening, they should not keep the transaction processing they
should declare that the transaction is failed or passed.

 Customer support: If customer support is improved it may be helpful for overcoming these challenges
to some extent.”

 Security concerns: one can face cyber fraud due to the sensitive data available to unverified sources.

 Ease of use: UPI should be enabled through all Tax Websites.

 Ease of use: Historical transaction overview is present however some merchants get payment on their
individual account which is not desired as it becomes tedious to recall.

 Connectivity Issues: While paying through GPay if the mobile connectivity is not there and only Wi-
Fi is there the payment can’t be made. The problem should be checked.

 Real time reflection: Many times, late night pop ups come as your bank server is down, so payment is
not processed. Hence the Bank should support, or UPI company should process the payment & later

they can settle with the customer Bank.

Suggestions for features to be added for better UPI user experience.

 Security concerns: An integration with an app/service to secure all the sensitive financial data.

 Awareness about Voice Enabling system: creating awareness about Hello UPI which is a voice enabling
system incorporated for smoother payments through your voice it can be beneficial for the differently

abled or technically challenged users.
 Offline payment: A feature which enables UPI users to make payments offline, without internet access.

 Expense tracking and scheduling payments: A feature can be enabled for the user to track his or her
expenses and schedule payments on later dates.

 Security: Additional security layer while making payments to avoid financial scams plus better user

support in case of failed transaction.
 International payments: enabling UPI users to make payments internationally, cross border

transactions.

 Financial awareness alerts: A portal which provides information regarding financial scams which will
spread awareness regarding scams.

 Integration of tax payments: integrating UPI for the purpose of payment of taxes.

 It can be observed that there is a significant impact of UPI in the Indian economy, if the challenges are
worked upon it will contribute significantly towards economy as well as the vision of Viksit Bharat.

The achievement of UPI signifies its potential and how it can be change the future of digital payment.
Existing presence of UPI overseas shows how UPI is becoming a global concurring asset for India.