Aryaman Garg

How did the addition of UPI as a payment method affect the transactions made by individuals and small businesses in India?

Started Jan. 30, 2025

Abstract or project description

The project will cover a detailed analysis of UPI and its impact on cash and card transactions. The project would also involve researching the impacts UPI had on small businesses and street vendors. It would also have a deep dive on UPI’s impact as the country had just demonetized its old currency. To answer the research question I would collect primary and secondary data related to the topic. After collecting relevant data I would formulate my argument after making a value judgement on the basis of the collected data. I would also lookout for data related to other payment methods such as cash, credit and debit cards along with E wallets and graph out the transactions made over the period of 5 years to determine which method was preferred the most by businessmen and vendors. I would also factor in the transaction time/cost for bank transfers, UPI, credit and debit cards to see which online payment method is the fastest. Collecting, analysing and interpreting this data shall hopefully help me answer the research question and have my own opinion of the impact UPI had on transactions conducted by small businesses/street vendors.