Empirical Evidence of Impact of Social Media Advertising on Consumers: A Study

Digital payments are having a visible impact on the buying process of consumers. The unified payment Interface created by the National Payment Corporation of India has become a significant medium for financial transactions during the buying process. Dadhich, Pahwa, and Rao (2018) highlighted that perceived security concerns play a crucial role in the adoption and usage of digital payment services. Paytm Blog (2024) Ministry of Finance reported that in the financial year 2022-23, UPI Fraud increased by 11,000 cases in comparison to the previous financial year. The importance of security concerns on the usage of a service and the evident data related to the increasing number of frauds has encouraged policymakers to generate awareness regarding the fraudulent practices related to UPI. The researchers in this paper have evaluated the social media presence of National Payment Corporation of India Limited. The social media presence has been evaluated by investigating the impressions and engagement across platforms. Further an effort has been made in this paper to enquire about the impact of six advertisement campaigns launched by NPCI on 6th November 2024 for creating safety awareness on selected social media platforms. The paper is also an attempt to study the impact of social media advertising on consumer safety awareness and acceptance of UPI.