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Govt Working With Google Pay, Paytm To Block Real-Time Payments Fraud: Report

  • The Indian government is collaborating with third-party UPI apps like Google Pay, PhonePe, and Paytm to enhance safety measures and detect/block suspicious transactions in real-time.
  • The initiative aims to prevent fraudulent transactions targeting users with lower digital literacy and will introduce stricter checks for all transactions, even if it causes slight delays.
  • Platforms may introduce delays, issue fraud alerts, and prompt users for additional confirmation to prevent potentially fraudulent transactions.
  • With digital payment scams on the rise, the government and private players are working together to combat fraud, and initiatives like these are expected to reduce digital payment frauds in the future.

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