Analytical Study of Value in Transaction of Selected UPI Apps (for the Period February 2023 to March 2024)
Author : Vidya Konar
Abstract :
Unified Payments Interface (UPI) is a payment system that enables consumers to make money transactions instantly with ease. This system has fundamentally changed the digital payment scenario in India. It provides instant mobile money transfer services 365 days of the year around the clock. Customer initiated value in transactions for five UPI apps-Google Pay, PhonePe, Amazon Pay, Mobikwik, BHIM-is obtained from the NPCI website for the period February 2023-March 2024 and used in this study. The primary aim of the study is to test the hypothesis that the transaction values of the selected UPI apps vary significantly from each other. It also aims to forecast the value in transactions of the selected UPI apps for the period April 2024 to December 2024 through studying the customer initiated value in transactions for the selected period. Finally, it assesses whether the data satisfies the normality assumption and determines the coefficient of variation for the selected UPI apps. The statistical tools used in the study are-Analysis of Variance (One-Way ANOVA), trend analysis (and hence forecast for the period April 2024 to December 2024), coefficient of variation. The analysis shows that there is a significant variation in the customer initiated value in transaction of the five UPI apps that were selected. The findings of the Shapiro-Wilk tests show that the normality assumption is satisfied by the data of value in transaction of selected UPI apps.
Keywords :
ANOVA, coefficient of variation, forecast, normality assumption, trend analysis, UPI
