Author(s): Komal Naroliya and Anil Sharma
India’s digital financial ecosystem has witnessed a paradigm shift with the rapid adoption of the Unified Payments Interface (UPI), positioning it as a cornerstone for advancing financial inclusion and digital trust. While initial adoption metrics have been encouraging, the sustainability of UPI usage across diverse socio-economic groups remains an unresolved challenge. This study empirically investigates the behavioral and structural enablers influencing sustained UPI usage in the context of Madhya Pradesh—an emerging economy state in India. Drawing on data collected from 417 respondents through a structured questionnaire, the study examines the relationships among six key constructs: Policy Awareness, Financial Literacy, Infrastructure Accessibility, Service Experience, Digital Trust, and Sustained Usage. A quantitative research design was employed using Partial Least Squares Structural Equation Modeling (PLS-SEM) via SmartPLS 4.0. The findings reveal that while constructs such as Financial Literacy and Infrastructure significantly impact Service Experience and Digital Trust, the direct effect of Trust and Policy Awareness on Sustained Usage is not significant, suggesting a need for deeper engagement strategies. The model explains 78% variance in sustained usage behavior, offering robust predictive power. However, model fit indices indicate possible over-specification, highlighting the need for model refinement. This research contributes to the evolving literature on digital payment adoption and offers actionable insights for policymakers, NPCI, and fintech firms to improve long-term platform engagement through trust-building, inclusive policies, and infrastructure expansion.