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Efforts to encourage contactless digital payments over cash as hygiene measure are resonating with consumers – one-third (32 per cent) have increased their usage of digital payments (credit and debit card, mobile wallet and other UPI-based payment methods) aimed at helping curb the spread of COVID-19.

Mumbai: Nearly half of Indian consumers are more worried about frauds while making digital transactions amid the coronavirus crisis, shows a study. About 28 per cent of consumers are now exercising more caution while making payments using various digital modes, according to a study conducted by YouGov and ACI Worldwide, a real-time electronic payment and banking solutions provider.

“Almost half of Indian consumers (47 per cent) are more concerned about digital payments fraud now than when the novel coronavirus first emerged,” the study said.

Vulnerability to fraud remains the biggest consumer concern when it comes to digital transactions (54 per cent), followed by risk of failed transactions (42 per cent).

Efforts to encourage contactless digital payments over cash as a hygiene measure are resonating with consumers – one-third (32 per cent) have increased their usage of digital payments (credit and debit card, mobile wallet and other UPI-based payment methods) aimed at helping curb the spread of COVID-19.

Around 75 per cent of consumers are using a digital payment method at least once a week and 44 per cent using one almost daily, the study of 1,006 adults in metro areas such as Mumbai, Delhi NCR, Chennai, Kolkata, Bangalore, Hyderabad showed. The survey was carried out online.

“The disruption caused by the COVID-19 pandemic provides another opportunity for fraudsters to dupe unsuspecting consumers. However, it is encouraging that consumers are showing heightened awareness of digital payments fraud and a willingness to adapt behaviours,” ACI Worldwide’s vice president and country leader (South Asia) Kaushik Roy said.

 

Fuente: Newsletter Atefi.org

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