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 case
Frequency of transactions and rising popularity are the drivers.
Ease of creation of Fake UPI IDs, lack of strong authentication and awareness are some reasons.
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I am at Nagpur for few days, came from Mumbai. Surprised to see many auto drivers asking for cash instead of UPI.
HP Gas Agency also asked for cash.
Same goes for few vegetable vendors too.
Is this common at tier 2 cities?
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The Reserve Bank of India (RBI) has announced that it will soon revise the transaction limits for Unified Payments Interface (UPI) payments made to merchants, also known as person-to-merchant (P2M) transactions. This move is aimed at enhancing the ef