Topic: Research Project on UPI Apps in India using Anova Single Factor
Author: Rutuja Sawant
Introduction
Amazon Pay
Amazon Pay is a digital payment service. Here, customers can make purchases on the web and mobile applications of third parties using their accounts at Amazon with direct access to their stored payment information and shipping addresses for a seamless checkout experience. Other features like one-click payment and merchant ease of integration make this platform convenient for both the buyer and seller, and it ensures security through end-to-end encryption and has measures to prevent fraud.
Google Pay
Google Pay is a digital wallet and online payment service that belongs to the firm of Google. It enables people to make secure payments using their cell phones, and it supports rapid transactions between the stores, online, and apps. Besides that, Google Pay offers features that help users with the management of their finances, including peer-to-peer transfers, loyalty rewards, and bill payments. It focuses on security by encrypting account numbers and having authenticating methods, which makes it quite easier for those who want a cashless payment solution.
Paytm
Paytm is the most inclusive digital payment platform in the country where various services like mobile recharges, utility bill payments, and online shopping are offered. As it came into existence in 2010, this platform has enhanced its level as one of the leading digital wallets as well as UPI payment services. The general people can now perform transactions with utmost ease and complete security. Besides, this company facilitates ticket booking, insurance, and investment to manage varied finances. With its friendly interface and emphasis on security, Paytm is becoming the obvious solution for millions looking to get out of their hectic lives into convenient digital payments.
BHIM
BHIM is a digital payment application introduced by National Payments Corporation of India. It goes by the name NPCI, though. BHIM is a contactless application that enables transactions in real time directly from/to the bank accounts of any user straight from their savings account using the Unified Payments Interface, or UPI. BHIM makes money transactions more convenient by introducing convenient features such as the payment of bills and scanning QR codes on users’ phones, making digital transactions more accessible to more users. It is emphatic on security having robust authentication and thus is promoting a cashless economy in India.
Objective: To compare Amazon, Pay, Google Pay, Paytm and BHIM UPI Apps used in India.
Data Collection
Student of ITM Skills University, Kharghar were surveyed to rate the UPI Apps in India. As 1 being the lowest rating and 10 being the highest rating to check which is the most preferred app.
Data Analysis
|
Sources of Variations |
SS |
df |
MS |
F |
P value |
F critic |
|
Between Groups |
292.34 |
3 |
97.45 |
25.74 |
6.31256E-13 |
2.68 |
|
Within Groups |
454.32 |
120 |
3.79 |
|
|
|
|
Total |
746.66 |
123 |
|
|
|
|
Framed the hypothesis
- P value = 6.312256E-13
- P value is more than 0.05 means accept H0
- Therefore, Accept Null Hypothesis and reject Alternate Hypothesis
Conclusion: All are the same