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!   If you like this topic, here are some recommendations from TMB: Kremlin & Crude: India's oil bill lower but fuel bills still running high, Lithium: India's Quest for White Gold, The Uncertain Fate Of Asia’s Largest Refinery, India plays bad cop to developed world at COP27, E-20 Explained: The blender’s pride or bane? and more! You can follow Pratik Bhakta on his social media: Twitter and Linkedin  Catch the latest episode of ‘The Morning Brief’ on ET Play, The Economic Times Online, Spotify, Apple Podcasts, JioSaavn, Amazon Music and Google Podcasts. See omnystudio.com/listener for privacy information.