Effect of COVID 19 on adoption of Unified Payment Interface : A study on behavioral intention of baby boomers

The rationale behind this study is to investigate factors influencing behavioral intention of baby boomers to adopt Unified Payment Interface (UPI) as a payment mechanism. The study extended UTAUT model with an additional construct, ubiquity. The novelty of the study is the attempt to examine the influence of COVID19 on UPI adoption by baby boomers. COVID19 made an unreceptive entry into our lives and since then transactions via cash have become a potentially hazardous payment mode due to higher chances of getting infected by the deadly virus. To facilitate contactless transactions, baby boomers started using UPI. The study used a structured questionnaire to collect responses online and covariance based Structural Equation Modeling was used to establish relationship amongst latent variables. The onset of COVID19 was found to be the foremost reason for UPI adoption. The results of the study imply that performance expectancy, effort expectancy, social influence and ubiquity also influenced behavioral intention of baby boomers to adopt UPI. Though it was a kind of forced adoption for baby boomers, they intend to use UPI in the near future as well. The study grants valuable insights to policymakers and digital service providers regarding baby boomer’s perception of UPI adoption