Digital Payments: Making Lives Easy or A Fraudster's Paradise?

Digital payments have made lives easy, right? Even the transactions rose from 10.2 billion in 2017 to 87.3 billion in 2022. But, this has also led to an increase in fraud. According to a report by the Reserve Bank of India, digital payments fraud amounted to ₹82.76 crore in 2021-22, up from ₹55.28 crore in the previous year. And phishing accounted for 40% of all the reported cases. Recently, Safexpay, a Thane-based payment gateway was in the news for losing around ₹25 crore to fraud attacks. So, are digital payments really making lives easy? Listen to Host Anupriya Nair on the latest episode of The Morning Brief podcast as she along with ET's fintech expert Pratik Bhakta gets into a conversation with Rahul Jain, CFO at NTT DATA Payment Services, and Bharat Panchal, Chief Regulatory Officer at Discover Financial Services. Tune in!

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