The National Payments Corp. of India is labeling as "premature" news reports that it's launching a blockchain-based system called "Vajra" to secure online payments. NPCI says the system remains in development with no timeline for release.
NPCI's new unified payment service for mobile fund transfers, which recently went live, is a leap forward in driving cashless transactions and boosting financial inclusion, but will increase challenges in ensuring seamless, secure transactions.
NPCI's UPI service, providing instant mobile fund transfer, will go live April 8. In the pilot, 29 banks will start UPI-based services using a single identifier with the norm of single-factor authentication. What challenges await CISOs?
WhatsApp, the global messaging app that has more than 200 million monthly active users in India, has leveraged National Payment Corporation of India's Unified Payment Interface platform to launch its beta payment service that will allow users to send money to other WhatsApp users, excluding merchant accounts.
NPCI's new unified payment interface for smartphones aims to simplify mobile money transfer through a single interface. But can it truly ensure a secure transaction through single-factor authentication?
There are many questions about the security aspects of the Central Bank Digital Currency, or CBDC, and how it will be deployed. Dr. N. Rajendran, chief digital officer of the Multi Commodity Exchange of India, shares his views on the road ahead with CBDC.
India is leading the digital payments revolution on the world stage with its widely accepted unified payments interface. N. Rajendran, the chief digital officer of the Multi Commodity Exchange of India, who has worked on UPI since its inception, discusses its successful implementation.
India and Singapore made it easier and cheaper for their citizens to send and receive money through the integration of UPI and PayNow, but could this move lead to a rise in cross-border online payment scams? Reports of UPI-related fraud surged in India in 2022.
In an in-depth interview, Bharat Panchal, CISO of NPCI, clarifies ambiguities regarding banks' ongoing migration to the Unified Payments Interface service and discusses fraud prevention efforts.
To help mitigate the risks of state-sponsored cyberattacks against India's critical infrastructure - and improve detection and response - requires industry collaboration and information sharing, root cause analysis with specialized forensics, and better testing of code, a panel of experts says.
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