Economic TimesLean R·
Banks propose 'Yes-No' prompt for high-risk UPI transfers to curb digital payment frauds
Mumbai: India's high-street banks want to strike a balance between adding friction in online payments to curb frauds and preserving the widely showcased digital payment story.A number of them are proposing a software tweak for the payment app to throw up a prompt, seeking a go-ahead from the payer before the beneficiary's account is credited in peer-to-peer (P2P) transactions. If a customer says 'Yes', the payment is executed within seconds; if she says 'No', the transaction is cancelled; and, …
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