Tag: Financial Grievance Redress

This is the second in a series of blogs which describe our efforts towards building an effective in-app GRM for India’s consumers

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

 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

In this study, we focus on whether consumers use the grievance mechanisms provided in UPI apps in smartphones, and whether those mechanisms make for an easily navigable grievance redress journey ending in satisfactory resolution.

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

This research presents a framework comprising nine principles, which we believe are pre-requisites for creating user-centric GRMs.

In this interim report, we document our observations about the user interface of In-App GRMs in UPI applications (UPI Apps). Our observations are based on our review of the customer redress journey on these GRMs – mainly in terms of the GRM’s accessibility and usability – from the lens of a low-income, digital immigrant customer.

Under the Center for Customer Protection, Dvara Research has been working on developing a market monitoring tool that leverages social media data to identify customer-facing issues with India’s leading payment infrastructure, the Unified Payments Interface (UPI).