Why more smart phones and bank accounts haven’t brought financial digital inclusion in India

Medium-to-low digital proficiency users experience anxiety when they have to use in-app mechanisms to deal with problems. It has got to do with designs that do not account for user proficiency and expectations. A few changes could uplift the experience for all users

 Our response covers two themes: Leading from a customer protection perspective, our comments emphasise the need for the prospective SRO to have duties towards the customers, at par with responsibilities towards the regulator.

The framework should provide adequate compensation to victims, while investigative action continues in tandem

Stakeholders should gather a common set of data points for each complaint, distinct from their data objectives

Positive frictions while authorising transactions will give users some time before approving payment

The white paper discusses a set of solutions for the ecosystem of actors to consider in tackling and curbing the illegitimate activity of scamsters and other fraudulent actors over the very popular Unified Payments Interface (UPI) of India.