Banks propose risk-based Yes/No prompts for flagged UPI payments
Major banks have proposed a confirmation prompt for high-risk UPI peer-to-peer transfers as RBI weighs anti-fraud rules. The approach aims to target suspicious payments without slowing India’s broader instant-payment experience, though NPCI has cautioned against added transaction friction.
Major Indian banks propose a risk-based Yes/No confirmation prompt for flagged UPI P2P payments, instead of blanket delayed credits. RBI is considering anti-fraud rules; NPCI cautions against adding friction to India’s instant-payment system.
Why this matters
The proposal follows NPCI’s push to protect UPI users while preserving ease of use, including masking phone numbers with username IDs and expanding UPI and rupee payment rails across borders.
Omni-channel is accelerating, up 196700% QoQ.
Also reported by
- Outlook Business — Same time