A look at how UPI has moulded spending patterns of millennials and gen-z

Unified Payments Interface or UPI has been one of the biggest generational changes that has swept India. The country's millennial and gen-z population has lived through this transformation -- and been quick to get hooked on to this new trend. As part of CNBC-TV18's on-going series "The UPI Generation", Radhika Udas reports on the biggest use-cases for this payment revolution.

For India's millennials and gen-z, the evolution of this choice has unfolded before their eyes -- from having to carry cash, they moved to debit and credit cards... then to the ease of net banking... and now, they have the choice to scan-and-pay using just their mobile phones. Experts say this choice has also moulded the spending patterns of these two generations.

A CNBC-TV18 poll of young Indians residing mainly in urban areas revealed that these youngsters most often whip out their UPI apps when ordering food through food aggregator apps -- 79 percent of them said this is their most employed use-case. Physically buying food at restaurants and groceries at stores comes second, at 72 percent... with online shopping a close third at 70 percent. Paying for cabs on aggregator apps like Ola and Uber rank fourth, at 65 percent.