With the rapid advancements in digital payment technologies, a huge number of people have adopted electronic payment services such as digital wallet solutions, e-wallet payments, etc. According to a Grand View Research report, the worldwide digital payment market is projected to expand at a CAGR of 19.4% between 2021 and 2028. And according to the recently constituted RBI-DPI, the index has made a hike to 270.59 from 207.84 between March 2020 and March 2021.
While digital payment technologies have made our lives extremely convenient, the number of cyber-attacks has also increased at breakneck speed. In India, as per data from CERT-In, in 2019 and 2020, the numbers of cybersecurity incidents observed were 3,94,499 and 11,58,208, respectively.
So, the question is, how can you bolster safety when making online digital payments? Here, I’ve rounded up five safety tips to ensure the safe use of digital payment technologies.