ET SpotlightIndians are adopting digital payments at a scorching pace. With the number of digital transactions reaching record levels every month, it has become imperative that consumers have tools and advice to help them make sound financial decisions.
A report, states that the top concerns Indians face while making digital payments are vulnerability to fraud (54 per cent) followed by risk of failed transactions (42 per cent). This validates the need for increased financial literacy- to help consumers protect themselves as we move into an increasingly digital world.
However, the nuances of making digital payments securely and confidently can be overwhelming. Various organisations and bodies are working to make this simpler. The Reserve Bank of India (RBI) has been conducting the Financial Literacy Week (FLW) since 2016 to help further the cause and the theme for this year is ‘Go Digital, Go Secure’. As part of FLW, the RBI Twitter handle has actionable and useful advice on payments protection. The NPCI, too, launched a month-long UPI Safety Shield campaign in February to educate users regarding best practices for making UPI payments.
To support these efforts CRED has also curated 5 simple (yet necessary to follow) tips to keep in mind while making digital payments.
A report, states that the top concerns Indians face while making digital payments are vulnerability to fraud (54 per cent) followed by risk of failed transactions (42 per cent). This validates the need for increased financial literacy- to help consumers protect themselves as we move into an increasingly digital world.
However, the nuances of making digital payments securely and confidently can be overwhelming. Various organisations and bodies are working to make this simpler. The Reserve Bank of India (RBI) has been conducting the Financial Literacy Week (FLW) since 2016 to help further the cause and the theme for this year is ‘Go Digital, Go Secure’. As part of FLW, the RBI Twitter handle has actionable and useful advice on payments protection. The NPCI, too, launched a month-long UPI Safety Shield campaign in February to educate users regarding best practices for making UPI payments.
To support these efforts CRED has also curated 5 simple (yet necessary to follow) tips to keep in mind while making digital payments.
(This article is generated and published by ET Spotlight team. You can get in touch with them on etspotlight@timesinternet.in)
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