To create awareness amongst consumers, the National Payments Corporation of India (NPCI) and the UPI ecosystem have announced the UPI safety and awareness initiative.
NPCI and the ecosystem comprising of leading banks and fintech will observe February 1-7 as ‘UPI Safety and Awareness Week’ and the whole of February as ‘UPI Safety and Awareness Month’.
Under this programme, NPCI has urged all the customers to follow the concept of UPI Safety Shield, which the company has derived to educate customers all about UPI payments. The UPI safety and awareness initiative will help vulnerable and first-time customers in overcoming their fears of adopting digital payments and guide them to pursue safe payments on the UPI platform.
Dilip Asbe, MD & CEO, NPCI said, “We believe vigilance and digital literacy are our strongest defenses to fight cyber fraud. To continue the Government of India and RBI’s vision of the less-cash economy, NPCI aims to take UPI to the last mile customers in the hinterlands of the country. We foresee onboarding over 300 million new UPI customers and processing a billion transactions a day on the UPI platform in the next few years. We are confident that UPI safety and awareness initiative will make the customers ready to confidently tread into the unique ecosystem of digital payments and experience seamless digital transactions like never before.”
With UPI scaling new records month-on-month in terms of transaction volume and value along with various unique functionalities such as UPI AUTOPAY and IPO via UPI, it is important to make users aware of the safe usage of UPI, the NPCI stated in a release.