Safe Digital Payment Practices In Times Of Social Distancing | AGS India

Safe Digital Payment Practices in Times Of Social Distancing - AGS India Coronavirus pandemic has mandated many institutions to rethink the usage of one surface that changes many hands Coronavirus pandemic has mandated many institutions to rethink the usage of one surface that changes many hands day-in and day-out that is cash and cards. The Indian Government, RBI and banks have urged citizens to use digital payments to reduce the spread of COVID-19. As a result, there has been a spur in digital modes of payments, which will continue to rise in the days to come. This unexpected urgency has brought first-time users as well as users who are not very tech savvy too under the ambit of digital payments ecosystem. In the last few years, especially since demonetisation, India’s digital payment infrastructure has strengthened significantly with the help of initiatives by the Govt. and Fintech players. For instance, introduction of innovative platforms like BHIM UPI, wallets, QR code, tap and pay and increase in merchant acceptance points by the way of smart POS terminals accepting multiple forms of digital payments. Availability of such an ecosystem has ensured that day-to-day lives of people are not affected amidst such crisis. While the increased adoption of digital transactions plays an important role in reducing the risk of spreading the virus, it puts many at risk of cyber or online frauds. Basic precautions and vigilance like the following can avoid end-consumers falling prey to various online scams. Never share UPI pin for receiving payment One of the most common ways of duping people online is luring them into clicking on links that offer money. UPI is the most targeted for this fraud. The user is required to enter pin to authenticate ‘send’ payment only. In any case,