Beyond Digital Convenience: Evaluating the Impact of Emerging UPI Rules on Merchant Operations and Consumer Behaviour in India

ABSTRACTBy providing quick, easy, and accessible cashless transactions, the Unified Payments Interface(UPI) has completely changed India's digital payment landscape. However, new regulationshave sparked worries about customer experience, merchant operations, and transactionsecurity. The purpose of this study is to determine whether consumers and merchants are awareof the regulatory requirements pertaining to UPI, to assess the operational and compliancechallenges that merchants face, and to investigate the relationship between consumers'intention to continue using UPI and perceived transaction security and paymentconvenience.The proposed study uses a quantitative research approach with structuredquestionnaires to gather primary data from customers and merchants. This data is anticipatedto give insights into aspects related to ongoing UPI adoption, merchant issues, and regulatoryknowledge. Policymakers, banks, and payment service providers may find the results useful inbolstering security, enhancing merchant assistance, and preserving customer ease.