Independent Research and Policy Advocacy

Ways to curb scams over UPI

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Abstract

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 ₹1,477 as of April 2024.

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