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May 13, 2026INTERNATIONAL JOURNAL OF CURRENT SCIENCE0 citationsOpen Access

An Empirical Study of Consumer Adaptation to Transaction Costs in Digital Payment Systems: Evidence From Upi Users in Bhopal

PSProf Dr Amrita SahuBarkatullah University DTDr Sushma Sunita TirkeyBarkatullah University DTDr Agnel Ritish Kumar TirkeyAmity University

Key Points

The research investigates consumer adaptation to transaction costs in digital payment systems, focusing on UPI users in Bhopal.
Conducted a survey with 130 participants
Analyzed views on transaction fees
Assessed financial literacy and price sensitivity
Consumers express concern over future financial liabilities
UPI is favored despite fears of transaction costs
Findings stress the need for transparent fee structures and financial education

Abstract

This study delves into how consumers view, prefer, and understand the charges involved in using the UPI payment system. This study focuses on digital payment patterns in a Tier-2 city (Bhopal) through the lens of financial literacy and price sensitivity. Based on survey results of 130 participants, it has been found that although UPI is a popular choice of payment mode, there is fear among consumers regarding future financial liabilities and the possibility of changing digital payment patterns due to transaction fees. The findings highlight the importance of promoting financial education, emphasize the need for transparent fee structures and formulating policies to sustain the use of digital modes of payment in semi-urban environments such as Bhopal.

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