Impact of UPI and Digital Payments on Traditional Banking

ABSTRACT The emergence of Unified Payments Interface (UPI) and digital payment systems has fundamentally transformed the banking landscape in India and globally. This research examines the multifaceted impact of these technologies on traditional banking institutions, analyzing both opportunities and challenges. Through comprehensive data analysis and industry insights, this study reveals how banks are adapting their operational models, revenue streams, and customer engagement strategies in response to the digital payment revolution. The findings indicate a paradigm shift toward digital-first banking while highlighting the need for strategic transformation in traditional banking approaches. Keywords: UPI, Digital Payments, Traditional Banking, Financial Technology, Digital Transformation, Mobile Payments, Financial Innovation