Could we be doing better with consent?
A checklist of design choices for effective consent artefacts of Account Aggregators[i] A. Account Aggregators: An Introduction Account Aggregators (AAs) are gaining significant traction in India’s policy landscape for their crucial role in transforming consent-based financial data sharing and facilitating access to financial services including credit. AAs are data-blind consent managers that help customers move […]
UPI’s democratised cashless payments but not grievance redressal
The story of UPI becoming India’s default payment method is one of acculturing tremendously diverse groups of Indians to digital payments using a seamless, safe and intuitive user interface. UPI has emerged as a practical and accessible payments solution for low-income customers who are possibly new to digital finance. Nearly three in four UPI transactions […]
Rethinking GRMs for UPI: Prototype Design
This is the second in a series of blogs which describe our efforts towards building an effective in-app GRM for India’s consumers Based on findings from field study, we created prototypes with mock screens representing various parts of the user grievance redress journey, from accessing the GRM, to raising a ticket, and obtaining resolution. The […]
Field Notes: How constrained users engage with the GRMs of UPI Apps
This is the first in a series of blogs which describe our efforts towards building an effective in-app GRM for India’s UPI users To discover whether users experience any difficulties while obtaining redress for their UPI-related grievances, we undertook a field study of some leading UPI applications with users who were low-income and new to […]
Legal liability for fraud in digital payments
In the first four months of 2024, ₹1,750 crore has been lost to cyber criminals. Victims are being targeted using online investment and trading scams, fake digital arrests, and OTP forwards, amongst others. During its annual conference in January, the Indian Cybercrime Coordination Centre (I4C, Ministry of Home Affairs) reported that while some proportion of […]
UPI databases should be interactive
UPI has seen record-breaking growth, with over 13 billion transactions recorded in April 2024 alone. Its popularity and ease of use have made it a target for fraudulent activities. In its Annual Press Conference, the Indian Cybercrime Coordination Centre (I4C, Ministry of Home Affairs) reported a rising trend of financial cybercrimes. The modus operandi (MO) […]
Building an Effective UPI In-App GRM for India’s Consumers
UPI has emerged as a ubiquitous payment mode for small-ticket transactions, and a variety of new solutions within UPI have been rolled out targeting low-income and low-digital proficiency user groups. To ensure that these advancements result in tangible positive effects on users’ experiences with UPI, it is important to monitor customer grievances and grievance resolution […]
Ways to curb scams over UPI
Unified Payments Interface (UPI) has revolutionised the way India transacts. It has gained popularity across the country given its unparalleled convenience and efficiency when conducting small-value transactions like buying vegetables or paying a plumber. NPCI data show that a majority of the transactions, around 73 per cent, are peer-to-peer and the average value of transactions was […]
Life insurance and the importance of proper disclosures
Life insurance seeks to protect the interests of dependents after the lifetime of the policyholder as opposed to most other forms of insurance that usually benefit the policyholder themselves. This creates unique barriers to take-up, and therefore, life insurance is often bundled with savings or investments to make them palatable to policyholders themselves and sold […]