🚀 Medial just raised $500k in Pre-Series A. Tap to read the announcement. 🎉

Download App

Home

Switch theme

Blog . Feedback . Privacy
Community Guidelines

Back to feeds

Arcane

Stealth • 5m

ONE INTERESTING OBSERVATION SERIES DAY #2 With the surge in digital payments, UPI has become the most popular payment method in India. However, it's also the most targeted by fraudsters. In 2022, UPI accounted for a staggering 55% of all fraud cases!! The twist is while UPI sees the highest volume of fraud, the majority of these incidents involve lower amounts. In fact, 50% of UPI fraud cases are for transactions under ₹10,000. Although UPI fraud is common, the financial impact per incident is relatively low compared to other payment methods :)

10 replies10 likes

Replies (10)

Udyamee

Stealth • 5m

What are the reasons for 50% of UPI fraud cases under 10,000 rs?

1 replies1 like

Anonymous 2

Stealth • 5m

Interesting psychological aspect here. People might be more careless with smaller amounts, giving fraudsters an easy target. Classic behavioral economics at play.

1 replies1 like

PRATHAM
•

Medial • 5m

As it is simple to use and is operated by a large margin of people, so fraudsters must go with the flow to do scams 👀

1 replies2 likes

Havish Gupta

Stealth • 5m

Even fraudsters had to adopt to new tech to continue their job 😜

1 replies2 likes

Anonymous 1

Stealth • 5m

The 50% under ₹10,000 stat is eye-opening. Fraudsters are playing the volume game, banking on people being less vigilant with smaller amounts. This screams for better user education. Most UPI fraud probably relies on social engineering rather than technical hacks. We need to teach digital literacy

1 replies1 like

Recommendations from Medial

Harshajit Sarmah

Stealth • 3m

In August 2024, the cryptocurrency sector was hit by over 10 significant hacks, resulting in approximately $313.86 million in losses, according to PeckShield. The two largest incidents, both involving phishing attacks and unauthorized transfers, acc

0 replies6 likes

Mahendra Lochhab

Stealth • 3m

In 2010, the dairy industry accounted for 20% of India's gross agricultural output.

2 replies14 likes

Siddhant Soni

Stealth • 7m

UPI has revolutionised the payment scenerio in India and indeed UPI involved complex tech and India is also giving this technology to other countries like Ghana. So my question is that, why countries like USA, Japan and other European countries are s

12 replies12 likes

Vighnesh Battu

Stealth • 6m

Which one will you choose When the point is about buying either delivery time or cost ( in most of the cases)

Quick Commerce [Costly]

E commerce [Normal price]

Votes: 22

1 replies2 likes

Anonymous
•

Monkey Ads • 19d

who's the founder of Theranos? and you'll see the one who convicted one of the biggest fraud in US startup ecosystem.

0 replies

Rakshak Gupta
•

Quixy • 2m

when we send money or do any kind of transaction with the UPI we get the rewards mostly the voucher we don't do most of the vouchers instead of can we have a vouchers which we want?

0 replies2 likes

Mahendra Lochhab

Stealth • 4m

India's UPI Enters Maldives India and Maldives have signed a pact to launch UPI in the Maldives, boosting the tourism sector.

0 replies1 like

Ayush Negi

Stealth • 8m

I was thinking of building a tap and pay payment system for public transport such as auto erickshaw etc to make ppl free from cash and UPI . What's everyone's thoughts!

21 replies3 likes

Vivek Sharma

Stealth • 3m

A recent survey conducted by LocalCircles found that 75% of India’s UPI users may discontinue using the platform if transaction fees are introduced. This highlights the immense sensitivity of consumers towards any potential charges on a service that